UOB Balance Transfer Reviews and Comparison - Seedly
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UOB Balance Transfer

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Personal Loans/UOB Balance Transfer
Personal Loans/UOB Balance Transfer
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Plans (2)

UOB Balance Transfer (6 Month Tenure)

5.34%

EFFECTIVE INTEREST RATE

0%

FLAT INTEREST RATE

2.50%

PROCESSING FEE

UOB Balance Transfer (12 Month Tenure)

4.95%

EFFECTIVE INTEREST RATE

0%

FLAT INTEREST RATE

4.28%

PROCESSING FEE

UOB Balance Transfer (6 Month Tenure)

5.34%

EFFECTIVE INTEREST RATE

0%

FLAT INTEREST RATE

2.50%

PROCESSING FEE

Details

About UOB Balance Transfer Review 2020

  • 0% Applied interest rate p.a. for 6 to 12 months
  • Effective Interest Rate (EIR) p.a. from 4.95% - 5.34% for UOB Credit Cards
  • Effective Interest Rate (EIR) p.a. from 4.82% - 5.27% for UOB CashPlus
  • Processing fees from 2.5- 4.5%
  • Minimum monthly repayment of 3% for UOB Cards and 2.5% for CashPlus
  • One of the lowest interest rates for balance transfer schemes in Singapore.
  • Probably the best balance transfer option for people looking for a 12 month long interest free tenure.

UOB Balance Transfer is a type of personal loan offered by UOB Singapore. Balance Transfers allow for the outstanding amount in one account to be transferred to another account with a lower interest rate.

Read More about UOB Balance Transfer
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Interest rates and fees for UOB Balance Transfer

Loan Tenure

Processing Fees

EIR (% p.a.) with UOB Credit Cards

EIR (% p.a) with UOB CashPlus

6 months

2.50%

5.34%

5.27%

12 months

4.28% (Online exclusive only)

4.95% (Online exclusive only)

4.82% (Online exclusive only)

Features: Pros and cons of UOB Balance Transfer

  • 0% Applied interest rate p.a. for 6 to 12 months
  • EIR p.a. from 4.95% - 5.34% for UOB Credit Cards
  • EIR p.a. from 4.82% - 5.27% for UOB CashPlus
  • Fast cash loan approval within 60 mins
  • Minimum monthly repayment of 3% and 2.5% of the outstanding amount for UOB Cards and CashPlus respectively
  • Minimum loan amount required is S$500
  • Fast cash loan approval within 60 mins
  • Enjoy the lower effective interest rates when you apply online
  • Processing fees from 2.5-4.5%

Compare the Best Personal Loans: Is UOB Balance Transfer Suitable for You?

  • Not the best Balance Transfer scheme for borrowers who do not require a 12 months tenure as UOB's 6 months interest rates are not the lowest.
  • Post loan maturity: After the interest free period, users are charged at least 20.5% p.a. depending on the stipulated prevailing interest rates on the user's UOB credit cards or CashPlus account

Other Fees: what else to look out for?

  • Minimum monthly repayment:
  • 2.5% of the outstanding balance for UOB CashPlus (or S$30, whichever is greater)
  • 3% of the outstanding balance for UOB Credit Card holders ( or S$50, whichever is greater)
  • Late payment fee: S$120

Eligibility: who can apply ?

  • Existing UOB Credit or CashPlus account holders
  • 21 - 65 years old
  • Singapore citizen or Permanent Resident
  • Minimum annual income requirement of S$30,000

Contact UOB Singapore

Tel: 1800 222 2121 or
Visit their UOB Singapore's website for application and more details.