How to Apply for a UOB Car Loan in Singapore

Calculate EMI Before Applying for Car Loan



If you are looking to finance your dream car through a car loan, UOB’s car loan options might just as well be the ideal choice for you. With attractive interest rates and extended loan tenors, you can repay your car loan with convenience and ease. Let us look at some salient features of the UOB Card Loan and the options available to you if you wish to apply for your car loan with UOB.

Key features of the UOB Car Loan

UOB finances 70% of the price of the car (as determined by the bank –the bank considers prevailing market value). So if you are ready to purchase your dream ride, make sure you make a down payment of not less than 30% of the car’s prevailing market price.
  • UOB is particularly known to process and subsequently approve the application in quick time. Approval of the application is subject to satisfying required eligibility criteria. 
  • The bank offers accommodating interest rates on car loans. If you already have an existing loan with UOB, you are certain to get a much lower interest rate. 
  • Through UOB’s referral programme, successfully refer a friend for a loan with UOB and earn up to S$1,000. 
  • Monthly repayments towards the loan are fixed – i.e. the loan does not attract a floating interest rate, thereby free from market fluctuations. 
  • Normally, the loan tenor can be extended to a maximum of 7 years depending on the loan amount among other factors. 
  • The Effective Interest Rate stands at 7.040% p.a. for a 1-year tenor and 6.170% p.a. for a 7-year tenor in the case of new cars. For used cars, the Effective Interest Rate stands at 8.390% p.a. for a tenor of 1-year and 7.270% p.a. for a tenor of 7 years. 

Applying for the UOB Car Loan

Getting your dream ride cannot get easier with UOB’s simple loan application process. Visit the official UOB website and fill out the loan application form. Submit the form with relevant supporting documents and soon enough, you will receive intimation from the bank about the net steps involved to complete the loan application. Once that’s done, the bank will process and subsequently approve the loan application subject to your application matching the bank’s eligibility requirements. 

Eligibility Requirements

The applicant must be a Permanent Resident or a Citizen of Singapore. To complete the loan application, the following documents are required to be submitted. 
  • Copy of NRIC/Passport
  • Latest computerized payslips
  • CPF contribution statement
  • Income tax Notice of Assessment
In the case of a new vehicle, a copy of the Purchase/Sales order from the supplier is also required. For used vehicles, COE card or copy of the vehicle registration need to be submitted as well.
So what are you waiting for? Apply today to get your dream car in no time!

Being a leading bank in Asia there are more than 500 offices of UOB in 19 countries with lots of products and services out of which Credit Cards by UOB in Singapore are the most demanding ones and are customized for users need.


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