Knowing the United Overseas Bank Loan Facilities And Requirements would help you if you want to secure a loan.
You see bank loans are term loans given by bank lenders to your company to cover its operating expenses.
Banks will lend money to companies based on factors such as administrative expenses, default risk, and a sufficient return on investment. A business may get a credit facility based on convertible or exchangeable collateral without changing the conditions of the original agreement.
Check out United Overseas Bank Credit Card Types And Differences
Application forms and supporting documentation, such as your company’s financial records and certificate of incorporation, are normally submitted before a commercial loan application is considered.
Check out the United Overseas Bank Internet Banking
United Overseas Bank Loan Facilities
United Overseas Bank in Singapore offers a variety of loan facilities to cater to different needs, including personal loans, home, renovation, car, and student loans.
To qualify for any of these loans, you must meet the eligibility requirements below.
See the United Overseas Bank Account Types And Benefits
United Overseas Bank Loan Requirements
- You need to be an existing UOB customer
- You must be aged between 21 and 65 years old.
- If you are a Singaporean, Permanent Resident, or foreigner you must have a valid employment pass.
- You need a minimum annual income of S$30,000 for Singaporeans/PRs and S$45,000 for foreigners.
- No documentation is required if you are an existing CashPlus account holder or credit card member.
To get access to all these things check out How To Open United Overseas Bank Account
Tips for getting a loan from United Overseas Bank in Singapore
- To prevent asking for extra money after you’re authorized or borrowing more than you need, figure out how much you need before you apply for any United Overseas bank loan.
- To ensure that you can comfortably manage the monthly loan repayments, you should assess your financial situation.
- To lessen the possibility of credit damage, familiarize yourself with the approval requirement we have written in the paragraph above and, if provided by the lender, prequalify before applying. You can read about Do Credit Scores Impact Your Home Loan?
- Have it in your mind that long-term financial savings might be achieved by taking the time to investigate lenders, interest rates, and loan conditions.
Contact them by using the United Overseas Bank Customer Service Numbers here.
If you have not met all the requirements do not apply because there is a cancellation fee of S$150 or 3% of your UOB Personal Loan outstanding balance, if you decide to cancel your Personal Loan early.