UOB Debt Consolidation Plan

How it works

View calculatorView representative example
personalDAVID'S
OUTSTANDING BALANCES*
35 years old, Singaporean
*refers to outstanding unsecured interest-bearing balances only
bank
  • S$20,000with bank A
  • plus
  • S$30,000with bank B
  • plus
  • S$30,000with bank C
equalS$80,000total outstanding balances with all banks
handDavid's requirements
  • Manage only 1 repayment date from 1 account
  • Repay his $80,000 outstanding balance within 72 months
listIs David eligible?
  • Singapore citizen/PR only
  • Annual income from S$30,000 to <S$120,000
  • Balance-To-Income (BTI) of more than 12 times at point of application
    What is Balance-To-Income (BTI) ?

    The Balance-To-Income ratio is calculated by taking your total unsecured interest-bearing balances across all financial institutions divide by your monthly income.

David’s outstanding balances from his credit card and overdraft facilities with all banks including UOB will then be consolidated into UOB Debt Consolidation Plan. Thereafter, David will able to reduce his outstanding debts over time with a single monthly payment directly to UOB.

lookupBased on David's requirements, David will be looking at:
Loan amount: S$80,000
Effective interest rate:
What is Effective Interest Rate (EIR) ?

The effective interest rate (“EIR”) is the actual rate incurred for using the facility, taking into account total charges and the way repayment is made

10.72%
Fixed monthly repayment: S$1,511.28
Loan tenor: 72 months
Total interest payable: S$28,812.02

David will be able to repay his S$80,000 balances in 72 months by consolidating into a single account with fixed monthly repayments of S$1,511.28.

Would you like to do a self assessment?

Try it
personalYOUR FINANCES
bankS$
  total outstanding balances with all banks
monthly-incomeS$
Monthly income Please contact one of our loan associatesPlease enter an amount of at least $2,500.
repay-period
Repayment period*
What is Repayment period?

For comfortable repayments, the bank recommends the following repayment period based on the total oustanding loan amount and monthly income.  Please select your preferred repayment period.

Please contact one of our loan associates

Now let’s look at how much you would need to pay on a monthly basis

lookupBased on your Loan requirements, you will be looking at:
*The results displayed is for illustrative purposes only. Please contact our Loan Associates at 6854 7719 for a personalized consultation
Loan amount: S$0
Effective interest rate:
What is Effective Interest Rate (EIR) ?

The effective interest rate (“EIR”) is the actual rate incurred for using the facility, taking into account total charges and the way repayment is made

0%
Fixed monthly repayment: S$0
Loan tenor: 0 months
Total interest payable: S$0

You will be able to repay S$0 balances in  months by consolidating into a single account with fixed repayments of S$0

resetReset

Benefits

Personalized consultation with our Loan Associates

Personalized consultation with our Loan Associates

Receive a complimentary consultation to customize a solution for your personal finances.

Ease of repayment

Ease of repayment

Monitor your outstanding balances from your credit cards and credit lines with a single account.

Only one payment date to remember.

Lower interest rate

Lower interest rate

Save on interest charges with lower interest rates as compared to credit cards and credit lines.

Complimentry Visa Platinum Card

Complementary Visa Platinum Card

Manage your daily essentials with ease.

Promotions

  • Enjoy 1st year preferential interest rate at 2.88%p.a.(EIR 5.27%p.a.) if you take up a 60 months tenor
    Promotion ends 31 March 2017.
  • Receive $600 worth of shopping vouchers if your UOB Debt Consolidation Plan amount is $75,000 and above.
    Limited to first 150 customers. Promotion ends 30 June 2017.

Rates & Tenor

Enjoy interest rate from as low as 6.00%p.a. (EIR 10.72%p.a.)* and up to 72 months repayment period!

*The monthly instalment amount is fixed but the principal and interest component varies. The monthly interest is computed by multiplying the EIR by the outstanding unbilled DCP amount, divided by twelve months

Instalment breakdown

Period (Month) Loan balance Interest amount Principal amount Instalment amount
Cancellation Fee:

A cancellation charge of S$150 or 3% of the outstanding loan amount, whichever is higher, will be levied and reflected as a charge on your monthly statement if you prepay the total outstanding Loan Amount at any time before the expiry of the Debt Consolidation Plan.

Apply now

You will need the following documents to complete your application.
  • Copy of NRIC (front and back)
  • Latest Credit bureau report - Click here to retrieve your copy
  • Latest Income Documents-    For salaried employees: Latest computerised payslip (in Singapore Dollar currency)-    For self-employed: Latest Income Tax Notice of Assessment
  • Latest credit card & credit line statements of other banks which you have outstanding balances
  • Confirmation letter evidencing unbilled balances for unsecured credit instalment plans (If any)
  • Alternatively, you may wish to contact our Loan Associates at 6854 7719

FAQs

Get the answers to your questions here.

Terms and conditions