UOB is an abbreviation for United Overseas Bank (Malaysia), which has been present in Malaysia since 1951 but was incorporated in 1993. UOB Malaysia is one of Malaysia’s top banks, with a long-term ‘AAA’ rating from Ratings Agency Malaysia. UOB also offers a diverse range of financial products and services to meet the needs of its customers and businesses. As a result, UOB Malaysia now has 45 branches across the country, the most of any foreign bank operating in Malaysia.
What is a personal loan?
A personal loan is a type of instalment credit provided by a financial institution (bank) to a borrower (you) in a one-time cash payment. You, as a borrower, must pay back the amount plus interest either in regular or monthly instalments over the loan’s term agreement.
What type of personal loan does UOB offer?
UOB Bank provides 1 type of personal loan, UOB Personal Loan.
What are the eligibility to apply for UOB Personal Loan?
The eligibility for individuals to apply for UOB Personal Loan are as follows:
Malaysian citizen
Between 21 to 55 years old
Minimum annual income:
RM24,000 (salaried employee)
RM36,000 (self-employed)
UOB Credit Cardholder for at least 12 months
Why should I choose UOB Personal Loan?
UOB offers to finance amounts ranging from RM5,000 to RM100,000 based on eligibility and up to RM50,000 only for self-employed
Based on eligibility, enjoy flat interest as low as 9.99% to 11.99% p.a.
Repayment tenure offered up to 5 years
There are numerous other reasons you should choose UOB Personal Loan.
What are the benefits I can enjoy from UOB Personal Loan?
UOB Personal Loan can provide you with the following benefits:
No guarantor or collateral is required
No processing fees
A loan amount of up to 6x your monthly income is possible
Enjoy monthly instalments as low as RM125
Flexible repayment tenure up to 5 years
What are the documents required for UOB Personal Loan?
When applying for UOB Personal Loan, the following documents are required:
Salaried employee
Copy of NRIC (front and back) or passport
Latest 3-month salary slip
Latest B/ BE Form with a copy of tax payment receipt, or
Latest 3-month bank statement (that shows salary credit transaction), or
Latest 1-year EPF statement
Self-employed
Copy of NRIC (front and back) or passport
Latest B/ BE Form with a copy of tax payment receipt
Latest 3-month bank statement (that shows salary credit transaction)
Business Registration Certificate Form 9/ 24/ 49 (2 years in the same business)
What are the fees included in UOB Personal Loan?
Certain fees apply, including:
Stamp duty
According to the Stamp Duty Act of 1949 (Revised 1989)
Early settlement fee
3% on the total balance outstanding, whichever is higher
Late payment fee
1% on the amount in arrears
Interbank GIRO (IBG) fee
RM2 will be deducted from the loan amount
Who should I contact for further information about the UOB Personal Loan?
For more information or assistance with UOB Personal Loan, you can contact
UOB Tele-marketing officer at +60327832369 / +60327832370
visit the UOB branch
What are the common terms of personal loan?
Per Annum (p.a.)
The interest rate over one year with the assumption that interest is compounded annually.
Tenure
The period you must repay your loan.
Principal
Principal is commonly known as the loan amount you requested from the bank.
Interest rate
Principal is commonly known as the loan amount you requested from the bank.
Instalment
Instalment is the fixed amount you must repay your personal loan every month until the term expires.
Penalty
A fee that a bank will levy on your overdue amount if you are late with your repayment.
Default
The term used to describe a situation in which a personal loan is not paid off for more than three months.
