Are you looking for a flexible and affordable way to get cash in Singapore? If so, UOB CashPlus might be just what you need. This personal line of credit gives you instant access to money whenever required, with affordable repayment options from as low as S$30 per month.
UOB CashPlus gives you a credit line you can draw from whenever you need cash. You can withdraw money at local ATMs and over 877,000 ATMs worldwide using your UOB ATM Card or UOB CashPlus Visa Card. There are no charges for cash withdrawals using your UOB ATM Card or UOB CashPlus Visa Card, making it a convenient and cost-effective way to access cash.
Applying for UOB CashPlus is easy and hassle-free. You can apply online or at any UOB branch in Singapore, with same-day approval and no collateral required. Once you’re approved, you can use your UOB CashPlus account immediately to access cash whenever you need it. With its flexible repayment options and low-interest rates, UOB CashPlus is a great way to manage your finances and stay on top of your expenses.
1-Min Read UOB CashPlus in Singapore!
Planning a staycation or that dream gadget purchase? Unexpected expenses can throw a wrench in your budget. But fret not Singaporeans! UOB CashPlus might be the perfect solution for you. Here’s a quick breakdown of this handy financial tool:
- Instant access to funds: Think of UOB CashPlus as your personal safety net. Once approved, you’ll receive a UOB CashPlus Visa card, allowing you to withdraw cash at ATMs or make purchases anytime.
- Flexible repayments: Only pay interest on the amount you use, making it a budget-friendly option. There’s no pressure to use the entire credit limit; you can even repay what you borrow anytime with no extra fees!
- Low minimum monthly repayment: UOB CashPlus requires just a 2% minimum monthly repayment of your outstanding balance, giving you some breathing room to manage your finances.
These are just a few key features that make UOB CashPlus so popular in Singapore. It offers a convenient and flexible way to access extra cash without derailing your financial goals.
Intrigued? There’s more to discover! Our comprehensive guide dives deeper into eligibility requirements, interest rates, and different repayment options to help you decide if UOB CashPlus fits you.
So, unlock the full potential of this financial tool and take control of your finances in Singapore!
Understanding UOB CashPlus
If you’re looking for a personal line of credit in Singapore, UOB CashPlus might be the right choice. Here’s what you need to know about it.
What Is UOB CashPlus?
UOB CashPlus is a personal line of credit that allows you to access cash when needed. It works like a loan, but you only pay interest on the amount you use. You can use the funds for anything you need, whether to pay for a home renovation, a medical expense, or a holiday.
With UOB CashPlus, you can also get a Visa card linked to your account. You can withdraw cash from ATMs, make purchases online or offline, and transfer funds to other accounts.
Benefits of UOB CashPlus
There are several benefits to using UOB CashPlus:
- Flexible credit line: You can borrow up to four times your monthly salary, subject to a maximum of SGD 200,000. You can also choose your repayment period, up to five years.
- Low interest rates: UOB CashPlus offers competitive interest rates, starting at 19.8% p.a. You only pay interest on the amount you use, not the entire credit line.
- Easy access to cash: You can withdraw money from ATMs or transfer funds to your bank account using the UOB Mobile app or Internet banking.
- Rebates and discounts: With UOB CashPlus, you can enjoy rebates and discounts at participating merchants, such as Best Denki and SK Jewellery.
Overall, UOB CashPlus is a convenient and flexible way to access cash when needed. With competitive interest rates and a range of benefits, it’s worth considering if you’re looking for a personal line of credit in Singapore.
Applying for UOB CashPlus
Are you looking to apply for UOB CashPlus in Singapore? You need to know the eligibility criteria, required documents, and online application process.
Eligibility Criteria
To apply for UOB CashPlus, you must be:
- A Singaporean or Permanent Resident
- At least 21 years old
- Earning a minimum annual income of SGD 30,000 for salaried employees or SGD 40,000 for self-employed individuals
- A commission-based employee with at least 2 years of employment history with the same employer
Required Documents
You will need to provide the following documents:
- NRIC (front and back)
- Income Tax Notice of Assessment (for salaried employees)
- Computerised Payslip (for salaried employees)
- Application Form
Online Application Process
To apply for UOB CashPlus online, follow these simple steps:
- Visit the UOB website and click the “Apply Now” button for UOB CashPlus.
- Fill in the application form with your personal and employment details.
- Upload the required documents.
- Submit your application.
Once your application is approved, you will receive a notification from UOB. You can then activate your UOB CashPlus account and start using it.
Applying for UOB CashPlus is an easy process. With competitive interest rates and flexible repayment options, UOB CashPlus is an excellent option for those needing quick cash.
Managing Your UOB CashPlus Account
Managing your UOB CashPlus account is easy and convenient. With a range of internet banking features, you can manage your account from anywhere, at any time.
Internet Banking Features
UOB offers a range of Internet banking features that allow you to manage your UOB CashPlus account easily. Whether you prefer to use your desktop or mobile device, you can access your account using UOB Personal Internet Banking.
UOB Personal Internet Banking
UOB Personal Internet Banking is a secure and convenient way to manage your UOB CashPlus account. You can view your account balance and transaction history and make payments online. You can also set up alerts to notify you of any changes to your account.
Customer Service Support
If you need help managing your UOB CashPlus account, UOB offers a range of customer service options. You can visit a UOB Group Branch to speak with a friendly customer service officer or contact UOB Phone Banking for assistance.
In summary, managing your UOB CashPlus account is simple. With a range of internet banking features and customer service support, you can access your account whenever needed.
Using Your UOB CashPlus Visa Card
Excited to use your UOB CashPlus Visa Card? Here’s what you need to know about cash withdrawals, retail purchases, and overseas transactions.
Making Cash Withdrawals
With your UOB CashPlus Visa Card, you can withdraw cash at local ATMs and over 877,000 ATMs worldwide that accept Visa. The daily withdrawal limit at the ATM in Singapore is S$3,000. You can also withdraw cash at any UOB branch or participating bank branch in Singapore.
Retail Purchases
You can use your UOB CashPlus Visa Card to purchase at any merchant that accepts Visa. This includes online and offline purchases. The amount of your purchase will be deducted from your UOB CashPlus account. You can also enjoy up to 35% rebates when you use your UOB CashPlus Visa Card at over 20 participating merchants like Best Denki, EpiCentre, Barang Barang, SK Jewellery, and more.
Overseas Transactions
Your UOB CashPlus Visa Card can be used for overseas transactions at any merchant that accepts Visa. You can also withdraw cash at any Visa Global ATM Network. However, please note that transactions made in a foreign currency will be subject to a fee of 1.5% of the transaction amount. For transactions made in Singapore dollars but processed outside Singapore using Visa, a fee of 1% of the transaction amount will be charged.
That’s all you need to know about using your UOB CashPlus Visa Card. Enjoy the convenience and flexibility of cashless transactions with your UOB CashPlus Visa Card.
Tip: Travel Optimisation
Consider using a travel credit card alongside your UOB CashPlus Visa Card for overseas spending. This allows you to avoid foreign transaction fees and earn additional travel rewards.
Financial Flexibility with UOB CashPlus
Are you looking for a personal line of credit that offers financial flexibility? UOB CashPlus might be the solution for you. With UOB CashPlus, you can enjoy a line of credit that allows flexible repayment options and cash rebates.
Credit Limit and Usage
When you apply for UOB CashPlus, you will be given a credit limit based on your monthly salary and credit score. The maximum credit limit for UOB CashPlus is S$100,000. You can use your available balance to make purchases or withdraw cash from ATMs. You can also transfer funds to your UOB savings or current account.
Flexible Repayment Options
UOB CashPlus offers flexible repayment options that allow you to pay back your outstanding balance at your own pace. You can choose to pay a minimum of 2% of your outstanding balance per month or a fixed amount that you are comfortable with. You can also choose to make a lump sum payment to reduce your outstanding balance.
Promotions and Cash Rebates
UOB CashPlus offers promotions and cash rebates from time to time. For example, UOB CashPlus is currently offering a cash rebate of up to S$80 when you apply for a new account and meet the qualifying criteria. You can also enjoy discounts and privileges when you use your UOB CashPlus account to make purchases at selected merchants.
In conclusion, UOB CashPlus offers financial flexibility with its credit limit, flexible repayment options, and promotions and cash rebates. Apply for UOB CashPlus today and enjoy the benefits of having a personal line of credit that fits your needs.
Understanding Fees and Charges
If you’re considering getting a UOB CashPlus account, it’s important to understand the fees and charges that come with it. Here’s a breakdown of the most important ones:
Annual Fees and Service Charges
UOB CashPlus account holders are required to pay an annual fee of S$120. This fee is charged annually and is non-refundable. In addition to the annual fee, there is a service charge of S$15 per month. This service charge is waived for the first six months of account opening.
Interest Rates and Interest Charges
UOB CashPlus account holders are charged an interest rate of 20.5% per annum on the outstanding balance of their account. The interest is calculated on a daily basis and charged monthly. There is also a minimum interest charge of S$5 per month.
Other Applicable Fees
In addition to the annual fee and interest charges, there are other fees that may be applicable to your UOB CashPlus account. These include:
- Processing fee: S$100
- Handling fee: S$30
- Replacement fee: S$20
- Returned cheque: S$50
- Stop cheque payment instruction: S$30
It’s important to note that these fees are subject to change and may vary depending on the specific terms and conditions of your UOB CashPlus account.
Overall, UOB CashPlus is a flexible and convenient way to access extra cash when you need it. However, it’s important to be aware of the fees and charges associated with the account to avoid any unexpected costs. By understanding the fees and charges, you can make an informed decision about whether UOB CashPlus is the right option for you.
Repayment and Bills Management
Are you wondering how to repay your UOB CashPlus line of credit? Don’t worry, it’s easy and hassle-free. Here are some important things you need to know about repayment and bills management for UOB CashPlus in Singapore.
Setting Up GIRO for Repayments
One of the easiest ways to repay your UOB CashPlus line of credit is by setting up a GIRO account. This will ensure that your monthly repayments are automatically deducted from your bank account on the due date. To set up a GIRO account, you can either download the GIRO application form from the UOB website or visit any UOB branch in Singapore.
Understanding the Billing Cycle
To manage your UOB CashPlus line of credit effectively, it is crucial to understand the billing cycle. The billing cycle is the period between two consecutive statement of account dates. The statement of account is a monthly statement that shows your transactions, outstanding balance, minimum amount payable, and payment due date. You will receive your statement of account via email or post.
Managing Overdue Amounts
If you miss your payment due date, your UOB CashPlus account will become overdue. It is important to pay your overdue amounts as soon as possible to avoid additional interest charges and late payment fees. You can check your overdue amount on your statement of account or by calling the UOB customer service hotline.
To summarise, UOB CashPlus offers flexible repayment options, including GIRO, to make it easy for you to manage your bills. Understanding the billing cycle and managing overdue amounts are important to avoid additional charges.
Additional Services and Facilities
If you need additional services and facilities, UOB CashPlus has got you covered. Here are some of the additional services and facilities that you can enjoy with UOB CashPlus.
Cheque Book and Cheque Payments
With UOB CashPlus, you can enjoy the convenience of cheque payments. You can request for a UOB CashPlus chequebook, which allows you to issue SGD cheque payments. You can also issue a Cashier’s Order, which is a cheque issued by the bank on your behalf, to make payments to other parties.
Phone Banking Services
UOB CashPlus offers phone banking services, which allow you to perform various banking transactions over the phone. You can check your account balance, transaction history, and even make payments using your UOB CashPlus account.
CashPlus Funds Transfer
With CashPlus Funds Transfer, you can transfer funds from your UOB CashPlus account to another bank account in Singapore. This service is available 24/7, and you can transfer funds instantly to any bank account in Singapore.
Overall, UOB CashPlus offers a range of additional services and facilities that can make your banking experience more convenient and hassle-free. Whether you need to issue a cheque payment, perform a banking transaction over the phone, or transfer funds to another bank account, UOB CashPlus has got you covered.
Terms and Conditions
If you’re considering applying for UOB CashPlus in Singapore, it’s important to familiarize yourself with the terms and conditions that apply to this personal line of credit.
Important Contractual Terms
Before you apply, you should know that there are certain contractual terms that apply to the use of UOB CashPlus. These include a minimum monthly repayment amount, which is based on the outstanding balance of your credit line. You’ll also be subject to a monthly finance charge, which is calculated based on the amount of credit you use and the interest rate that applies to your account.
Additionally, you should be aware that UOB reserves the right to change the terms and conditions of your CashPlus account at any time. This means that the interest rate, minimum repayment amount, and other contractual terms may be adjusted periodically. However, UOB will notify you of any changes in advance, so you can make an informed decision about whether to continue using your CashPlus account.
Permanent Increase in Credit Line
If you’re looking for a flexible personal line of credit that can grow with your needs, UOB CashPlus may be a good option for you. One of the key benefits of this product is the ability to apply for a permanent increase in your credit line, subject to UOB’s approval.
To qualify for a permanent increase, you’ll need to meet certain criteria, including a good credit score and a stable income. You’ll also need to provide UOB with documentation to support your application, such as payslips or tax returns.
Once your application is approved, you’ll have access to a higher credit limit, which can help you manage unexpected expenses or take advantage of new opportunities. However, it’s important to remember that a higher credit limit also means more debt, so you should use your CashPlus account responsibly and only borrow what you need.
In summary, UOB CashPlus is a flexible and convenient personal line of credit that can help you manage your finances more effectively. However, it’s important to understand the terms and conditions that apply to this product, including the minimum repayment amount, finance charge, and UOB’s right to change the terms of your account. If you’re looking for a permanent increase in your credit line, UOB CashPlus may be a good option, but you’ll need to meet certain criteria and use your credit responsibly.
Frequently Asked Questions
What are the latest promotions available for UOB CashPlus users?
UOB CashPlus offers various promotions from time to time. You can check the latest promotions on the official UOB website or by contacting their customer service team. Currently, you can apply for 0% interest promotion and get cash of up to 6X your monthly salary with UOB CashPlus.
How can I check the status of my UOB CashPlus application?
You can check the status of your UOB CashPlus application by logging in to your UOB personal internet banking account. Alternatively, you can contact the UOB customer service team for more information.
What are the interest rates associated with UOB CashPlus?
The interest rates for UOB CashPlus vary depending on the amount of credit you have utilized. The interest rate for the first $10,000 utilized is 19.8% p.a.; for the amount above $10,000, it is 29.8% p.a. However, you can enjoy lower interest rates with a good credit score.
Could you explain the differences between UOB CashPlus and a personal loan?
UOB CashPlus is a personal line of credit that allows you to withdraw cash when needed. You only need to pay interest on the credit you have utilised. On the other hand, a personal loan is a lump sum amount you borrow and repay in instalments over a fixed period.
What steps should I follow to repay my CashPlus loan?
You can repay your CashPlus loan by logging in to your UOB personal internet banking account. You can make a partial or full repayment at any time without any penalty charges. Alternatively, you can also set up a GIRO arrangement for automatic repayment.
How can I terminate my UOB CashPlus account?
You can terminate your UOB CashPlus account by contacting the UOB customer service team. You will need to repay the outstanding balance on your account before the account can be closed.
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