UOB Home Loan

About UOB Bank

United Overseas Bank (Malaysia) Bhd (UOB Malaysia) was founded in 1993, but it has been present in Malaysia since 1951. Today, UOB Malaysia has 45 branches across the country, the most of any foreign bank operating in Malaysia, with their main headquarters located at Menara UOB, Jalan Raja Laut, Peti Surat 11212, 50738 Kuala Lumpur. UOB Bank provides a diverse range of financial and service products that meet customer needs and offer them options.

What is a home loan?

A home loan is a sum of money that you apply for or borrow from a bank to assist you in purchasing your dream home. Each loan will be charged an interest rate determined by the loan amount and the repayment period. So, keep in mind that each bank will have a different interest rate, and you should do some research before applying for a home loan.

What type of home loan does UOB Bank offer?

UOB Bank provides 3 types of home loans:

• iNTELLIGENT Home Loan
• iNTELLIGENT Retail Loan (Commercial Property)
• Flexi Mortgage

What should I know before applying for a home loan?

• Interest rates

  You must be aware of the interest rates that the bank will charge you, either fixed interest rates or variable rates.

• Type of loan

  In Malaysia, there are 3 types of loans offered: term loan, semi loan, or flexi loan.

• Lock-in period

  Knowing the lock-in period is crucial because it often occurs when there is a sudden need for full settlement, refinancing, or selling your property.

• Margin of finance

  You must understand your margin of finance, which is the amount of money that a bank will allow you to borrow for your loan and how much cash/ upfront you must pay for the property.

• Fees

  The fees include legal fees, stamp duty charges, late payment fees, early settlement fees, and others.

• Type of bank

  The bank you have chosen to apply for a home loan with, as different banks offer different loan amounts, terms, etc. Choose a bank where you are comfortable applying for a home loan.

Who is eligible to apply for UOB Bank home loans?

• Malaysian citizen and non-Malaysian (valid working visa of more than 1 year)
• Between 21 to 70 years old
• Minimum annual income of RM24,000

Why should I choose UOB Bank home loans?

• It provides a variety of home loan financing options to suit your needs
• Secure up to 95% financing, inclusive of MRTA*
• You can get flexible repayments & withdraw your surplus cash at any time*
• Enjoy loan tenure up to 35 years or up to age 70, whichever is earlier*
• Attractive interest rates (calculated on daily rest)*

*Depending on the selected home loan.

Who should I contact for further information about UOB Bank home loans?

For more information or assistance with UOB Bank home loans,

• Contact UOB at +60326128121
• Visit the nearest UOB branch

What are the documents required for UOB Bank home loans?

• iNTELLIGENT Home Loan / Flexi Mortgage
• Salaried employee
• Application form
• Copy of Sale and Purchase Agreement/ booking receipts/ Letter of Offer from the developer
• Copy of MyKad (front and back)
• Latest salary slips and bank statements
• Latest EA Form/ EPF statement
• Self-employed
• Application form
• Copy of Sale and Purchase Agreement/ booking receipts/ Letter of Offer from the developer
• Copy of MyKad (front and back)
• Business Registration Certificate: Form 9, 24, and 49
• Audited balance sheet and Profit and Loss
• Latest 6-month bank statement
• Latest 1-year BE Form

• iNTELLIGENT Retail Loan (Commercial Property)
• Application form
• Copy of Sale and Purchase Agreement/ booking receipts/ Letter of Offer from the developer
• Copy of MyKad (front and back)
• Business Registration Certificate: Form 9, 24, and 49
• Audited balance sheet and Profit and Loss
• Latest 6-month bank statement
• Latest 1-year BE Form

What are the fees included in UOB Bank home loans?

• Withdrawal fee

  RM50.

• Late payment fee

  1% of the amount in arrears.

• Early settlement fee

  As per the Stamp Duty Act 1949 (Revised 1989).

• Letter for EPF withdrawal fee

  RM20.

• Processing fee

  RM200.

• Redemption statement

  RM50 per request.

What are the common terms of home loan?

• Lock-in period

  A period during which you will be penalised if you pay off your home loan earlier than agreed. The fine ranges from 2% to 5% of the total amount.

• Margin of Finance (MOF)

  The amount of money that a bank will lend you for your loan determines how much cash you must pay upfront for the property.

• Interest rates

  It is the amount of money you paid to the bank in addition to the principal amount.

• Valuation

  An estimate of the property’s worth and the stamp duty is calculated based on its value.

• Base rate

  The base rate is the interest rate charged by Bank Negara Malaysia to commercial banks for loans.

• Base Lending Rates (BLR)

  A rate set by each bank based on the cost of borrowing the money to be lent to borrowers.

• Refinancing

  Repaying an existing loan and replacing it with a new one with new terms and conditions.