UOB Mortgage Review: One of Singapore's Cheapest Home Loan Options
UOB Mortgage Review: One of Singapore's Cheapest Home Loan Options
ValueChampion Rating 
Pros
- Individuals seeking competitive home loan interest rates
- Borrowers seeking to refinance their home loan of at less than S$500,000
Cons
- Borrowers seeking home loan refinancing for loans of more than S$500,000
UOB's strong reputation and consistently competitive interest rates make it one of the best sources of home loans for Singaporeans. For instance, the bank is one of the largest in Singapore and tends to offer some of the best fixed and floating rates for all types of home loans. Moreover, it is one of the few home loans available for foreigners, making it a convenient option for some consumers.
| Summary of UOB's Home Loans |
|---|
| Generally offers some of the best home loan interest rates in Singapore |
| Minimum loan principal: S$100,000 |
| Loans available for foreigners |
Table of Contents
What Makes UOB Home Loan Stand Out to Borrowers
As a well-established home lender, with more than S$88.6 billion in total home loans globally, UOB is a great source of home loans in Singapore. The bank's low interest rates for all types of home loans make it a great option for prospective homeowners as well as borrowers seeking to refinance their home loans.
UOB HDB Home Loans Interest Rates as of March 26, 2023
UOB tends to offer some of the cheapest HDB housing loans. In terms of total interest cost and fixed and floating interest rates, UOB is typically one of leaders in Singapore. Below, we display UOB's Home Loan current rates for HDB loans.
| Bank | 1st Yr Interest | Lock-in Period | Apply Now |
|---|---|---|---|
| No offerings at this time |
UOB is also a great option for prospective homeowners considering a BTO unit. The bank is generally among the most affordable lenders for housing loans for these homes. For reference, the table below displays UOB's Home Loan current interest rates for BTO residences.
| Bank | 1st Yr Interest | Lock-in Period | Apply Now |
|---|---|---|---|
| No offerings at this time |
UOB Private Home Loans Interest Rates as of March 26, 2023
Just like its competitive HDB loans, UOB tends to offer some of the lowest fixed and floating interest rates for private home loans. For a live look at the bank's private housing loan rates, see our table below.
| Bank | 1st Yr Interest | Lock-in Period | Apply Now |
|---|---|---|---|
| No offerings at this time |
UOB also tends to offer some of the best home loans for private residences under construction. The bank's loans are generally some of the cheapest available; both in terms of interest rates and total interest costs. For context, we've provided a table of UOB's current interest rates for loans for private homes under construction.
| Bank | 1st Yr Interest | Lock-in Period | Apply Now |
|---|---|---|---|
| No offerings at this time |
UOB Refinancing Home Loan Interest Rates as of March 26, 2023
UOB has typically offered very competitive refinancing interest rates for both HDB and private residences. The bank's floating and fixed rates have both been competitive with the rates of other lenders. Below we display UOB's current home loan refinancing rates for private and HDB homes.
| Bank | 1st Yr Interest | Lock-in Period | Apply Now |
|---|---|---|---|
| No offerings at this time |
UOB Home Loan Mortgages: Applicable Fees
UOB charges fees for partial repayment, full redemption and loan cancellation. The bank's fee rates are very similar to other lenders in Singapore. Below, we display UOB's fees by loan type.
| Loan Type | Partial Repayment Fee | Full Redemption Penalty | Cancellation Fee |
|---|---|---|---|
| Board Rate | No fee if minimum outstanding balance of S$200,000 is maintained, otherwise 1.5% | 1.5% | 1.5% |
| Tracker Rate | N/A | N/A | 1.5% |
| Fixed Rate | 1.5% | 1.5% | 1.5% |
| BUC | N/A | N/A | 0.75% |
How to Apply for a UOB Home Loan: Application Process
Find the Cheapest Home Loans in Singapore
Most mortgage applications are complicated and long. Typically, applications require several processes and more than 10 documents. Therefore, we recommend that individuals interested in UOB's home loan products consult our home loan broker partner by clicking any of the "Check Rates" buttons on this page.
Documents Needed to Apply for a UOB Home Loan
- Completed duly signed UOB Property Loan Application Form
- Copy of NRIC/Passport of applicants
- Income documents
- Option to purchase
- Latest CPF statement of account (if CPF usage is involved)
- Latest CPF withdrawal statement for existing property (if applicable)
- Option of sale for existing property (if applicable)
How Does UOB Home Loan Compare to Other Mortgage Lenders?
Home loan interest rates change every few days in Singapore. This makes it important to compare the best rates in the market. The table below features updated interest rates for Singapore's top banks, as of March 26, 2023.
| Bank | 1st Yr Interest | Lock-in Period | Apply Now |
|---|---|---|---|
| DBS Board | 2.60% | 3 years | {"endpoint":"https:\/\/redbrick.valuechampion.sg\/api\/redbrick","inputs":{"filter_bank":["UOB"," DBS"," HSBC"," SCB"," OCBC"],"filter_interest_type":"both","filter_lock_in":"false","individual_or_company":"individual","loan_tenure":25,"loan_type":"new_loan","property_type":"hdb","sort":"total_interest_cost","construction_status":"completed","loan_amount":500000,"property_purchase":"yes"},"loan":{"bank_name":"DBS","name":"Board","interestRateYear1":"2.60","interestRateYear2":"2.60","interestRateYear3":"2.60","interestRateYear4":"2.60","interestRateYear5":"2.60","interestRateYear6Plus":"2.60","lockInPeriod":"3 years","features":"Income Capped \r\n1 Borrower - $2,500\r\n2 Borrower - $5,000","additionalInformation":"CPF Home Rate (CHR) is based on the prevailing interest rate payable on CPF Ordinary Account (OA). Loan is priced at CHR + 0.10%","propertyType":"hdb-loan","loanType":"new,refinance","minLoanAmount":100000,"rt1":"Board","rt2":"Board","rt3":"Board","rt4":"Board","rt5":"Board","rt6":"Board","rt1r":"0.00","rt2r":"0.00","rt3r":"0.00","rt4r":"0.00","rt5r":"0.00","rt6r":"0.00","rt1r_first_day":"0.0000","rt2r_first_day":"0.0000","rt3r_first_day":"0.0000","rt4r_first_day":"0.0000","rt5r_first_day":"0.0000","rt6r_first_day":"0.0000","sumYear1":"2.60","sumYear2":"2.60","sumYear3":"2.60","sumYear4":"2.60","sumYear5":"2.60","sumYear6":"2.60","sum":"2.60","y2":"$2,268","y3":"$2,268","y4":"$2,268","y5":"$2,268","y6":"$2,268","y1":"$2,268","monthly_installments":"$2,268","total_interest_cost":180400,"metadata":{"_id":18,"collection":"home_loans","apply_now_text":"Check Rates","apply_now_icon_hidden":true,"apply_now_redirect":false,"pros_label":"Pros","cons_label":"Cons"}}}
|
| DBS Fixed | 3.75% | 3 years | {"endpoint":"https:\/\/redbrick.valuechampion.sg\/api\/redbrick","inputs":{"filter_bank":["UOB"," DBS"," HSBC"," SCB"," OCBC"],"filter_interest_type":"both","filter_lock_in":"false","individual_or_company":"individual","loan_tenure":25,"loan_type":"new_loan","property_type":"hdb","sort":"total_interest_cost","construction_status":"completed","loan_amount":500000,"property_purchase":"yes"},"loan":{"bank_name":"DBS","name":"Fixed","interestRateYear1":"3.75","interestRateYear2":"3.75","interestRateYear3":"3.75","interestRateYear4":"1.00","interestRateYear5":"1.00","interestRateYear6Plus":"1.00","lockInPeriod":"3 years","features":"Free Conversion after Lock In\r\n\r\nWaiver of Penalty Due to Sale of Property During Lock In Period","additionalInformation":"","propertyType":"private-loan,hdb-loan","loanType":"new,refinance","minLoanAmount":500000,"rt1":"Fixed","rt2":"Fixed","rt3":"Fixed","rt4":"3M SORA","rt5":"3M SORA","rt6":"3M SORA","rt1r":"0.00","rt2r":"0.00","rt3r":"0.00","rt4r":"3.45","rt5r":"3.45","rt6r":"3.45","rt1r_first_day":"0.0000","rt2r_first_day":"0.0000","rt3r_first_day":"0.0000","rt4r_first_day":"3.2206","rt5r_first_day":"3.2206","rt6r_first_day":"3.2206","sumYear1":"3.75","sumYear2":"3.75","sumYear3":"3.75","sumYear4":"4.45","sumYear5":"4.45","sumYear6":"4.45","sum":"3.75","y2":"$2,571","y3":"$2,571","y4":"$2,745","y5":"$2,745","y6":"$2,745","y1":"$2,571","monthly_installments":"$2,571","total_interest_cost":317236,"metadata":{"_id":18,"collection":"home_loans","apply_now_text":"Check Rates","apply_now_icon_hidden":true,"apply_now_redirect":false,"pros_label":"Pros","cons_label":"Cons"}}}
|
| OCBC Fixed | 3.90% | 3 years | {"endpoint":"https:\/\/redbrick.valuechampion.sg\/api\/redbrick","inputs":{"filter_bank":["UOB"," DBS"," HSBC"," SCB"," OCBC"],"filter_interest_type":"both","filter_lock_in":"false","individual_or_company":"individual","loan_tenure":25,"loan_type":"new_loan","property_type":"hdb","sort":"total_interest_cost","construction_status":"completed","loan_amount":500000,"property_purchase":"yes"},"loan":{"bank_name":"OCBC","name":"Fixed","interestRateYear1":"3.90","interestRateYear2":"3.90","interestRateYear3":"3.90","interestRateYear4":"1.00","interestRateYear5":"1.00","interestRateYear6Plus":"1.00","lockInPeriod":"3 years","features":"Free Conversion after Lock In","additionalInformation":"","propertyType":"hdb-loan","loanType":"new,refinance","minLoanAmount":200000,"rt1":"Fixed","rt2":"Fixed","rt3":"Fixed","rt4":"3M SORA","rt5":"3M SORA","rt6":"3M SORA","rt1r":"0.00","rt2r":"0.00","rt3r":"0.00","rt4r":"3.45","rt5r":"3.45","rt6r":"3.45","rt1r_first_day":"0.0000","rt2r_first_day":"0.0000","rt3r_first_day":"0.0000","rt4r_first_day":"3.2206","rt5r_first_day":"3.2206","rt6r_first_day":"3.2206","sumYear1":"3.90","sumYear2":"3.90","sumYear3":"3.90","sumYear4":"4.45","sumYear5":"4.45","sumYear6":"4.45","sum":"3.90","y2":"$2,612","y3":"$2,612","y4":"$2,749","y5":"$2,749","y6":"$2,749","y1":"$2,612","monthly_installments":"$2,612","total_interest_cost":319768,"metadata":{"_id":18,"collection":"home_loans","apply_now_text":"Check Rates","apply_now_icon_hidden":true,"apply_now_redirect":false,"pros_label":"Pros","cons_label":"Cons"}}}
|
| DBS Fixed | 3.85% | 2 years | {"endpoint":"https:\/\/redbrick.valuechampion.sg\/api\/redbrick","inputs":{"filter_bank":["UOB"," DBS"," HSBC"," SCB"," OCBC"],"filter_interest_type":"both","filter_lock_in":"false","individual_or_company":"individual","loan_tenure":25,"loan_type":"new_loan","property_type":"hdb","sort":"total_interest_cost","construction_status":"completed","loan_amount":500000,"property_purchase":"yes"},"loan":{"bank_name":"DBS","name":"Fixed","interestRateYear1":"3.85","interestRateYear2":"3.85","interestRateYear3":"1.00","interestRateYear4":"1.00","interestRateYear5":"1.00","interestRateYear6Plus":"1.00","lockInPeriod":"2 years","features":"Free Conversion after Lock In\r\n\r\nWaiver of Penalty Due to Sale of Property During Lock In Period","additionalInformation":"","propertyType":"hdb-loan","loanType":"new,refinance","minLoanAmount":300000,"rt1":"Fixed","rt2":"Fixed","rt3":"3M SORA","rt4":"3M SORA","rt5":"3M SORA","rt6":"3M SORA","rt1r":"0.00","rt2r":"0.00","rt3r":"3.45","rt4r":"3.45","rt5r":"3.45","rt6r":"3.45","rt1r_first_day":"0.0000","rt2r_first_day":"0.0000","rt3r_first_day":"3.2206","rt4r_first_day":"3.2206","rt5r_first_day":"3.2206","rt6r_first_day":"3.2206","sumYear1":"3.85","sumYear2":"3.85","sumYear3":"4.45","sumYear4":"4.45","sumYear5":"4.45","sumYear6":"4.45","sum":"3.85","y2":"$2,598","y3":"$2,754","y4":"$2,754","y5":"$2,754","y6":"$2,754","y1":"$2,598","monthly_installments":"$2,598","total_interest_cost":322456,"metadata":{"_id":18,"collection":"home_loans","apply_now_text":"Check Rates","apply_now_icon_hidden":true,"apply_now_redirect":false,"pros_label":"Pros","cons_label":"Cons"}}}
|
| DBS Fixed | 3.88% | 2 years | {"endpoint":"https:\/\/redbrick.valuechampion.sg\/api\/redbrick","inputs":{"filter_bank":["UOB"," DBS"," HSBC"," SCB"," OCBC"],"filter_interest_type":"both","filter_lock_in":"false","individual_or_company":"individual","loan_tenure":25,"loan_type":"new_loan","property_type":"hdb","sort":"total_interest_cost","construction_status":"completed","loan_amount":500000,"property_purchase":"yes"},"loan":{"bank_name":"DBS","name":"Fixed","interestRateYear1":"3.88","interestRateYear2":"3.88","interestRateYear3":"1.00","interestRateYear4":"1.00","interestRateYear5":"1.00","interestRateYear6Plus":"1.00","lockInPeriod":"2 years","features":"Free Conversion after Lock In\r\n\r\nWaiver of Penalty Due to Sale of Property During Lock In Period","additionalInformation":"","propertyType":"hdb-loan","loanType":"new,refinance","minLoanAmount":100000,"rt1":"Fixed","rt2":"Fixed","rt3":"3M SORA","rt4":"3M SORA","rt5":"3M SORA","rt6":"3M SORA","rt1r":"0.00","rt2r":"0.00","rt3r":"3.45","rt4r":"3.45","rt5r":"3.45","rt6r":"3.45","rt1r_first_day":"0.0000","rt2r_first_day":"0.0000","rt3r_first_day":"3.2206","rt4r_first_day":"3.2206","rt5r_first_day":"3.2206","rt6r_first_day":"3.2206","sumYear1":"3.88","sumYear2":"3.88","sumYear3":"4.45","sumYear4":"4.45","sumYear5":"4.45","sumYear6":"4.45","sum":"3.88","y2":"$2,606","y3":"$2,754","y4":"$2,754","y5":"$2,754","y6":"$2,754","y1":"$2,606","monthly_installments":"$2,606","total_interest_cost":322648,"metadata":{"_id":18,"collection":"home_loans","apply_now_text":"Check Rates","apply_now_icon_hidden":true,"apply_now_redirect":false,"pros_label":"Pros","cons_label":"Cons"}}}
|
Read Also:
Stephen Lee is a Senior Research Analyst at ValueChampion, specializing in insurance. He holds a Bachelor of Arts degree in International Studies from the University of Washington, and his prior work experience include risk management and underwriting for professional liability and specialty insurance at Victor Insurance. Additionally, Stephen is a former US Peace Corps Volunteer in Myanmar (serving between 2018-2020), where he continues to provide business development consulting services to HR companies in Asia Pacific.