UOB CashPlus program at $100 nominal for 12 months - Too good to be true?

Hi everyone, I came across this https://www.uob.com.sg/personal/borrow/cashplus...

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And seems like other banks out there are not able to offer a rate that low/competitve compared to the above; am intending to utilize this for ID fees over the 12 months instead.

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Read thru the TNCs and seems like there's no red flag or anything out of the ordinary; just curious if anyone has tried the above before?

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Also, I've called UOB and they mention that the Cashplus limit is based on bank's approval and is different from our credit limit where typically they will loan out 4x of the income.

E.g. Salary is $1000, max loan here is $4000. However if credit limit is already at $2000, the Cashplus limit will be at $2000 instead.

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At least that was how the customer support shared with me, though I was under the impression that the Cashplus amount would be deducted from the credit limit instead, but guess not.

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Happy to hear your thoughts and experience if any, many thanks in advance! :)