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UOB Personal Loan Review (2023)

SingSaver team

SingSaver team

Last updated 05 May, 2023

The UOB Personal Loan offers instant cash disbursement for Singaporeans and PRs. Here's a look at the reasons to apply for this personal loan as well as how you can earn up to 2.2% unlimited cash rebate on your approved loan.

Key Features


  • Instant cash disbursement
  • Fuss-free personal loan application for new UOB customers through MyInfo
  • Choice of loan tenures from 12 to 60 months


  • Need to have a UOB CashPlus account or UOB credit card to apply for a UOB Personal Loan
  • Foreigners are not eligible 


Interest Rate: From as low as 3.77% p.a (EIR from 6.89% p.a.) 
Loan Tenures: Choice of 1 year to 5 years
Max. Credit Limit: Up to 95% of credit limit on your UOB CashPlus account
Minimum Annual Income: S$30,000
Turnaround Time: Instant approval for applications submitted between 8am to 9pm for new UOB customers

Table of Contents

  1. Why should you choose UOB Personal Loan?
  2. Who can apply?
  3. What charges or fees you should look out for?
  4. How to apply?
  5. Summary of Interest Rates for all tenures

Why should you choose UOB Personal Loan?

1. Easy loan approval for new UOB customers via MyInfo

If you’re a new UOB customer, simply click ‘Apply Now’ on UOB’s personal loan website and from there, you’ll be asked to log in to MyInfo where your personal information will be automatically retrieved. Only UOB currently observes this process, which saves you time inputting requirements and uploading documents. Applications should be submitted between 7am to 8 pm.

See also: Your Go-To Personal Loans Guide in Singapore

2. Get instant cash

If you are in urgent need of cash, you can get cash instantly when you apply for the UOB Personal Loan online.

This instant cash will be distributed upon approval for applications submitted between 8am to 9pm.

For those that are unable to wait a few working days before getting cash on hand, the UOB Personal Loan could be a great option. 

3. Earn 2.2% unlimited cash rebate on your approved loan amount

You can get up to 2.2% unlimited cash back when you apply for a UOB Personal Loan of at least $80,000 with either a 36, 48 or 60-months tenor.

Screenshot 2023-05-05 at 1.37.17 PM

source: UOB

This offer ends 31 May 2023.

4. Maximum loan amount of  95% of your available credit limit

UOB Personal Loans are only applicable to UOB CashPlus account or UOB credit card holders.

While other banks only approves 80% of your credit limit, up to 95% is allowed for existing UOB customers.

Terms and conditions such as schedule of fees of your UOB credit card is also applicable to your personal loan

5. Perks for existing UOB Credit Card/CashPlus customers

If you already have a UOB credit cards, no documents are required for a loan application. When your loan is approved, it will be disbursed to a designated savings account of your choice. 

Who can apply?

To be eligible to apply for the UOB Personal Loan, you have to be: 

  • An existing UOB Credit Card/CashPlus customer 

  • Nationality: Singapore citizen or Permanent Resident (Foreigners are not eligible for the UOB Personal Loan)
  • Age: 21 to 60 years old 
  • Minimum annual income: $30,000 

What charges or fees should you look out for?

Here are the charges and fees you could incur: 

  • Processing fee: 1%

  • Cancellation fee: $150 or 3% of outstanding approved loan amount (whichever is higher)

How to apply?

If you’re  an existing UOB customer, simply log in to your UOB Mighty Internet Banking and submit the short application.

If you’re a new customer, click on  “Apply Now” then, “Retrieve with MyInfo” button. You’ll be redirected to SingPass page.

No documents will be required. 

Summary of Interest Rates for all tenures

Loan tenor (months) Processing fee Flat interest rate (p.a.) Effective interest rate (p.a.)
12 1% 3.77% 6.89%
24 1% 3.99% 7.48%
36 1% 3.99% 7.49%
48 1% 3.99% 7.46%
60 1% 3.99% 7.40%

source: UOB

UOB Personal Loan Welcome Gift: Enjoy a low-interest rate of 3.88% p.a. (EIR from 7.09% p.a.) with no processing fee and up to 2.2% unlimited cash rebate on your approved loan amount. Valid till 30 September 2023. T&Cs apply.

Plus, new to UOB CashPlus customers can enjoy an extra S$100 cash rebate. T&Cs apply.

Read These:
Best Personal Loans In Singapore With The Lowest Interest Rates
Understanding Personal Loans: Why And When Should You Use It?
4 Times In Life You Should Consider Getting a Personal Loan
Best Personal Loan Promotions In Singapore
4 Types of Personal Loans: What You Need to Know


At SingSaver, we make personal finance accessible with easy to understand personal finance reads, tools and money hacks that simplify all of life’s financial decisions for you.


Use a personal loan to consolidate your outstanding debt at a lower interest rate!

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