Have you been looking for a flexible line of credit that allows you to borrow cash instantly and repay at your own pace? Look no further than UOB CashPlus in Singapore. With CashPlus, you can enjoy a low monthly repayment of 2% of your outstanding amount, giving you the financial flexibility you need to achieve your goals.
One of the best things about CashPlus is its repayment period. You can choose to repay the borrowed amount anytime without incurring any additional fees.
This means you can borrow the cash you need and pay it back on your terms without being tied down to a strict repayment schedule. With same-day approval and affordable repayment from as low as S$30/month, CashPlus is the perfect solution for your short-term financial needs.
Whether you need cash for a significant milestone or a short-term need, CashPlus has got you covered. With up to 35% rebates and the convenience of ‘Cash & Carry’ at over 20 participating merchants, CashPlus is more than just a line of credit. Apply for a 0% interest promotion today and enjoy the financial flexibility you need to realise your dreams.
1-Minute Read: UOB CashPlus Repayment in Singapore
Need a quick rundown on UOB CashPlus repayment options? Time-pressed Singaporean borrowers, this section’s for you!
- Flexibility is Key: UOB CashPlus offers a repayment approach that suits your lifestyle. Choose between a fixed monthly plan (12 to 60 months) for long-term predictability or opt for the minimum monthly repayment (3% of balance or S$50, whichever is higher) for greater flexibility.
- Promotional Power: Enjoy an introductory 0% interest rate for up to 12 months on your CashPlus balance transfer, allowing you to save on interest charges while managing your repayments effectively.
- Early Repayment Perks: There are no penalty fees for settling your dues early, allowing you to adjust your repayment strategy as needed.
UOB CashPlus’s innovative repayment structure empowers Singaporeans with greater control over their finances. It fosters a more accessible and adaptable borrowing experience within the local financial landscape.
Ready to unlock the full potential of UOB CashPlus? Dive deeper into our comprehensive guide for a clear picture of interest rates, fees, and other essential details.
Understanding UOB CashPlus
What Is UOB CashPlus?
If you’re looking for a flexible line of credit that can help you manage your finances, then UOB CashPlus is the perfect solution for you. It is a personal line of credit that is offered by UOB, one of the leading banks in Singapore. With UOB CashPlus, you can get access to cash instantly, without the need for any collateral.
Benefits of UOB CashPlus
There are many benefits to using UOB CashPlus. Here are some of the key benefits:
- Flexible Repayment Period: UOB CashPlus offers a flexible repayment period that can be tailored to your needs. You can choose to make minimum monthly repayments, 3% of your outstanding balance, or a fixed amount each month. You can also choose to pay off your balance in full at any time, without incurring any extra fees.
- Low Interest Rates: UOB CashPlus offers some of the lowest interest rates in Singapore. This means that you can save money on interest charges, which can help you manage your finances more effectively.
- Easy Access: You can access your UOB CashPlus account online, through UOB Personal Internet Banking, or at any UOB Group Branch. This makes it easy to manage your account, no matter where you are.
- Standby Cash: With UOB CashPlus, you have access to standby cash that you can use whenever you need it. This means that you can have peace of mind knowing that you have cash available to you, in case of emergencies.
Overall, UOB CashPlus is an excellent option for anyone who needs a flexible line of credit that can help them manage their finances. With low interest rates, flexible repayment periods, and easy access, UOB CashPlus is the perfect solution for anyone who needs cash in a hurry.
Eligibility and Application
If you are looking for a flexible and affordable personal line of credit in Singapore, then UOB CashPlus might just be what you need. Here’s what you need to know about the eligibility criteria, application process and required documents.
Eligibility Criteria
To apply for UOB CashPlus, you must meet the following eligibility criteria:
- You must be a Singapore citizen or permanent resident
- You must be a salaried employee, self-employed or commission-based employee
- You must have a minimum annual income of SGD 30,000 for salaried employees and SGD 60,000 for self-employed or commission-based employees
- You must be at least 21 years old and not more than 65 years old
- You must have a good credit standing
Application Process
Applying for UOB CashPlus is easy and hassle-free. You can apply through any of the following methods:
- Online application: Visit the UOB website and fill up the online application form
- Visit any UOB branch: You can visit any UOB branch and apply in person
- Call UOB: Call UOB’s customer service hotline at +65 1800 222 2121 and request for an application form to be sent to you
Required Documents
To apply for UOB CashPlus, you will need to submit the following documents:
- NRIC (front and back)
- Computerised payslip
- Income tax notice of assessment (for self-employed or commission-based employees)
- Specimen signature
- CPF contribution history statement (for salaried employees)
- Other income documents (if required)
Once you have submitted all the required documents, UOB will process your application and inform you of the outcome within a few working days.
Overall, UOB CashPlus is an excellent personal line of credit option for those who need quick access to cash. With a flexible repayment period and affordable interest rates, it is a great way to manage your finances and stay on top of your expenses.
Repayment Details
If you are considering applying for UOB CashPlus in Singapore, it is important to understand the repayment details. Here is what you need to know about repayment period, minimum amount payable, interest rate and charges, and understanding the statement of account.
Repayment Period
The repayment period for UOB CashPlus is flexible, allowing you to repay the outstanding amount at any time. The credit line is renewable on an annual basis, and you can use it as many times as you need to. You can choose to repay the amount in full or make minimum payments, which are 2% of the outstanding amount per month.
Minimum Amount Payable
The minimum amount payable for UOB CashPlus is 2% of the outstanding amount per month. This means that if you have a credit line of $10,000, your minimum payment each month would be $200. It is important to note that making only the minimum payment will result in higher interest charges and a longer repayment period.
Interest Rate and Charges
Interest rates for UOB CashPlus are competitive, and you can enjoy promotional interest rates from time to time. The annual rate for UOB CashPlus is currently 19.8%, and there are no processing fees or early repayment charges. However, overdue amounts will be charged a late payment fee and interest calculated on a daily outstanding balance.
Understanding the Statement of Account
Your statement of account will provide you with information about your available balance, outstanding amount, and payment due date. It is important to review your statement of account regularly to ensure that you are aware of your current balance and any transactions that have been made. You can access your statement of account online or through the UOB mobile app.
In summary, UOB CashPlus offers a flexible repayment period, with a minimum amount payable of 2% of the outstanding amount per month. Interest rates are competitive, and there are no processing fees or early repayment charges. Be sure to review your statement of account regularly to stay on top of your payments and avoid late payment fees.
Tip: Consider Partial Payments Over Minimum
While the minimum payment is 2%, consider paying more whenever possible. This reduces your overall interest charges and shortens the repayment period, saving you money in the long run.
Managing Your CashPlus Account
Excited to start using your UOB CashPlus account? Here’s what you need to know to manage your account effectively.
Internet and Phone Banking
UOB Personal Internet Banking and UOB Phone Banking services are available 24/7 to help you manage your CashPlus account. With UOB Personal Internet Banking, you can access your account information, view your transaction history, and make payments online. To use this service, simply log in to your account using your username and password.
If you prefer to use the phone, you can call UOB’s toll-free number to access your account information, transfer funds, and make payments. Simply call us at [insert phone number] and follow the prompts to access your CashPlus account.
ATM Services
UOB ATM cardholders can use any of our ATMs to withdraw cash, transfer funds, and check their account balance. Our ATMs are located across Singapore and are part of the Visa Global ATM network, so you can access your account from anywhere in the world.
Credit Limit and Balance
Your CashPlus account comes with a credit limit, which is the maximum amount you can borrow at any given time. To check your current available balance and credit limit, simply log in to your UOB Personal Internet Banking account or call UOB’s toll-free number.
It’s important to keep track of your credit balance to avoid exceeding your credit limit and incurring additional fees. You can also set up alerts to notify you when your balance reaches a certain threshold, so you can avoid overdraft fees and other charges.
Overall, managing your CashPlus account is easy and convenient with UOB’s online and phone banking services. With 24/7 access to your account information and a wide range of ATM services, you can stay on top of your finances and make the most of your CashPlus account.
Additional Services and Fees
If you’re using UOB CashPlus in Singapore, you’ll want to be aware of the additional services and fees that come with it. Here are some important details to keep in mind:
CashPlus Related Fees
There are a few fees associated with UOB CashPlus that you should be aware of. Firstly, there is a handling fee of 2% of the approved loan amount. Next, there is a service charge of $60 per year, which is waived for the first year. If you lose your UOB CashPlus Visa card, there is a replacement fee of $20. Lastly, if you have a credit balance on your account, you will not earn any interest on it.
Cheque Services
If you use cheques as a payment method, there are a few fees you should know about. If you need to stop a cheque payment instruction, there is a service charge of $30. If a cheque is returned, there is a handling fee of $50. Additionally, if you need a new cheque book, you can request one through phone banking service or by mail using the business reply envelope provided in your welcome pack.
Funds Transfer and Bill Payments
There are a few ways to transfer funds and make bill payments using UOB CashPlus. You can use GIRO or PayNow transfers to make payments to other bank accounts. There is no charge for setting up a GIRO arrangement, but there is a $2 charge for each transaction. For PayNow transfers, there is a $0.50 charge per transaction. If you need to make a payment using a cashier’s order, there is a $5 charge. Lastly, if you need to deposit cash into your account, you can use cash deposit machines located at UOB branches.
Overall, UOB CashPlus is a great option for those who need quick access to cash in Singapore. With flexible repayment options and a range of additional services available, it’s a convenient and reliable way to manage your finances.
Promotions and Offers
If you’re considering UOB CashPlus for your personal line of credit, you’ll be pleased to know that there are some exciting promotions and offers available to you.
Current Promotions
UOB CashPlus is currently offering a 0% interest rate for 3 months (EIR 0% p.a.) for loans up to S$30,000. If you require a larger loan, you can still benefit from a 0% interest rate for 6 months (EIR 3.34% p.a.) for loans above S$30,000. This promotion is available to new customers who apply for UOB CashPlus by a certain date. Terms and conditions apply, so be sure to read them carefully before applying.
UOB CashPlus Perks
In addition to the current promotions, UOB CashPlus also offers some great perks to its customers. One of the biggest benefits is the flexible repayment period. You can choose to repay your loan over a period of up to 60 months, giving you plenty of time to manage your finances and repay your loan on your own terms.
Another great perk is the ability to withdraw cash from any UOB ATM in Singapore with no withdrawal fees. This makes it easy to access your funds whenever you need them, without having to worry about additional charges.
Applying for UOB CashPlus is quick and easy, with most applications approved within the same day. To apply, simply visit the UOB website and fill out the online application form. Be sure to read the terms and conditions governing UOB CashPlus before applying to ensure that you’re aware of all the details of your loan.
Overall, UOB CashPlus is a great option for anyone in Singapore who needs a personal line of credit. With flexible repayment periods, no withdrawal fees, and exciting promotions and offers, it’s no wonder that so many people are choosing UOB CashPlus for their lending needs.
Additional Financial Solutions
If you are looking for additional financial solutions, UOB has got you covered. Here are some options that you can consider:
Personal Loan Options
If you need a lump sum of cash for a big purchase or expense, you can consider UOB’s personal loan options. With competitive interest rates and flexible repayment periods, you can choose a loan that suits your needs and budget. To apply, you will need to provide your billing proof, basic salary, and variable income if applicable. Self-employed applicants are also welcome to apply.
Balance Transfer Facility
If you have existing credit card debt, UOB’s balance transfer facility can help you consolidate your debt and save on interest payments. With a low processing fee and 0% interest rate, you can transfer your outstanding balance to your UOB credit card and enjoy up to 12 months of interest-free payments. To apply, simply log in to your UOB internet banking account and follow the instructions. You can also apply for a balance transfer when you apply for UOB CashPlus online.
In addition to these options, UOB CashPlus customers can also enjoy the convenience of a UOB CashPlus chequebook for SGD cheque issuance. With a low monthly repayment of 2% of your outstanding amount, standby cash is just a click away.
Frequently Asked Questions
How can I calculate my repayments for UOB CashPlus?
Calculating your repayments for UOB CashPlus is easy. You can use UOB’s online calculator to get an estimate of your monthly repayment amount. Simply input the amount you wish to borrow, the interest rate, and the repayment period, and the calculator will do the rest. You can also use the calculator to adjust the repayment period to see how it affects your monthly repayment amount.
What’s the maximum duration for repaying UOB CashPlus?
The maximum duration for repaying UOB CashPlus is 60 months. However, you can choose to repay the loan earlier than the maximum duration without any penalty fees.
Could you explain the interest rates for UOB CashPlus?
The interest rates for UOB CashPlus are based on a tiered system, which means that the interest rate you receive will depend on the amount you borrow. The higher the amount you borrow, the lower the interest rate you will receive. You can find more information about UOB CashPlus interest rates on their website.
What are the steps to close my UOB CashPlus account?
To close your UOB CashPlus account, you will need to contact UOB’s customer service team. They will guide you through the process and provide you with any necessary forms or documents. Once you have completed the necessary steps, your account will be closed.
Is there a fee for early repayment on my UOB CashPlus?
No, there is no fee for early repayment on your UOB CashPlus. You can choose to repay the loan earlier than the maximum duration without any penalty fees.
How does UOB CashPlus differ from a standard personal loan?
UOB CashPlus is a personal line of credit that gives you access to funds whenever you need them, up to your approved credit limit. You only pay interest on the amount you borrow, and you can choose to repay the loan earlier than the maximum duration without any penalty fees. In contrast, a standard personal loan is a lump sum of money that you borrow and repay in fixed instalments over a set period of time.
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