UOB Personal Loan

Overview

UOB Personal Loan is an unsecured personal loan up to 5 years for Government servants, employees of private sector organizations, and self-employed individuals and it is mainly focused for those who prefer to apply with a minimum loan amount of RM5,000 up to maximum RM100,000. You will stand a chance to enjoy a fixed interest rate from 9.99% up to 11.99% per annum depending on your loan amount. To be able to apply for the UOB personal loan, you must be at least 21 years old up to 55 years old. You can take up UOB Personal Loan with minimum loan tenure of 1 year up to 5 years and it is a hassle free application because there is no guarantor or collateral needed.

If you are a salaried employee and is planning to take up the UOB personal loan, you will need to prepare documents such as a clear copy of your NRIC (front and back), copy of latest bank statement OR the first page of your passport, latest 1 month salary slip OR latest 3 months salary slips, OR latest EA form, OR latest 6 months EPF statement, OR BE form with validated payment slip/receipt. Other than that, if you are a self-employed applicant then you will need to prepare a clear copy of your NRIC (front and back), latest B/BE form with tax payment receipt attached, latest 3 months bank statements showing salary credit transactions and Form 9,24, or 49 OR Business Registration Certificate. You must also have a good credit record (CTOS/CCRIS) to be eligible for this and if you have some overdue payments then you will need to settle off all those payments.

UOB Personal Loan FAQ

What is the maximum amount you can borrow?

Borrowable amount of up to RM100,000 (salaried) or up to RM50,000 (self-employed) for a maximum loan tenure of five years.

The catch?

Applicant must be between the age 21 to 55 above to qualify.

Applicant must be a Malaysian citizen employed as a Government servant, employee of private sector organization, or self-employed with a minimum gross salary of RM2,000 per month (salaried) or RM3,000 per month (self-employed).

What will it cost you and how will you be charged?

One time set-up fee:

Stamp duty of 0.5% on loan amount deducted upfront before loan disbursement. No other set-up fees need to be paid.

Recurring payments:

Monthly repayment comprising principal amount and interest charge via monthly salary deduction.

For monthly gross salary of RM2,000 – RM3,999 (salaried) / RM3,000 – RM5,999 (self-employed):

• Fixed interest rate of 11.99% per annum (1.00% per month) throughout the entire loan tenure.

For monthly gross salary of RM4,000 – RM6,999 (salaried) / RM6,000 – RM7,999 (self-employed):

• Fixed interest rate of 10.99% per annum (0.92% per month) throughout the entire loan tenure.

For monthly gross salary of RM7,000 and above (salaried) / RM8,000 and above (self-employed):

• Fixed interest rate of 9.99% per annum (0.83% per month) throughout the entire loan tenure.

Penalties:

Early settlement penalty of a sum equivalent to 3% of outstanding loan amount or RM300, whichever is higher.

Late payment charges of 1% on outstanding loan amount or RM10 per day, whichever is higher. Late payment charges will increase your total outstanding loan amount.

How long will the application take and what documentations are required?

Upon completing an application with iMoney, our representative will contact you within the same business day to confirm your application.

Thereafter, UOB will require an average of seven business days (not including Saturday, Sunday, and public holidays) before approval or disbursement.

You are required to furnish the following documents for your loan application:

Salaried applicant:

• Copy of NRIC (front and back)
• Copy of Bank Statement OR Passbook (first page)
• Any of the documents below (choose one):
• 1 month (most current) salary slip (fixed monthly salary) OR 3 months (most current) salary slips (variable monthly salary)
• EA Form (most current)
• 6 months (most current) EPF Statement
• BE Form with validated payment slip/receipt (most current)

Self-employed applicant:

• Copy of NRIC (front and back)
• B/BE form with tax payment receipt attached (most current)
• 3 months (most current) bank statements showing salary credit transactions
• Form 9, 24, or 49 OR Business Registration Certificate

Can you apply if you have a bad CCRIS/ CTOS/ Credit Record?

No, you are required to settle all overdue payments before applying. It is advised that you continue repaying your loans on time for another three months before reapplying.

If you are looking for other personal loans, you may also consider

Hong Leong Personal Loan

Hong Leong Personal Loan has a flat interest rate starting from 12% p.a. The maximum tenure for this personal loan is 5 years. It also comes with a minimum income requirement of RM2,000.

Maybank Islamic Personal Financing-i

With Maybank Islamic Personal Financing-i, the personal loan comes with an fixed interest rate starting from 9% p.a. This personal loan has a maximum tenure of 6 years. It also comes with a minimum income requirement of RM2,500.

Alliance Bank CashFirst Personal Loan

The personal loan rate for Alliance Bank CashFirst Personal Loan starts from 8.88% p.a. It has a maximum tenure of 7 years. The personal loan also comes with a minimum income requirement of RM2,000.