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.
