UOB (China) Home Loan

Benefits

• Up To 70% Financing
  • Receive financing of up to 70% of the purchase price or valuation of the property (whichever is lower), so you can own your dream home much sooner!
    
• Multi-Currency Options
  • Available in four currencies, UOB (China) Home Loan gives you more options and flexibility:
    
    • US Dollar
    • Singapore Dollar
    • Hong Kong Dollar
    • Renminbi
• Flexible Repayment Of Up To 30 Years
  • Stretch your repayment period for up to 30 years or until you are 70 years of age (whichever is earlier) and pay off your loan at a comfortable pace.
    
    What's more, UOB (China) Home Loans are calculated on a monthly balance basis. Therefore, you get to save on interest charges as the principal is reduced every month.

Requirements

• UOB (China) Home Loan is open to local citizens for purchase of residential properties in China.
• UOB (China) Home Loan is open to foreigners as well as citizens of Hong Kong, Macau and Taiwan for the purchase of residential properties in China for owner-occupation purposes.
• Foreign applicants must have worked or studied in China for more than one year.

Apply Now

FAQ

• Q1. What are the benefits of a UOB (China) Home Loan?
  • Competitive variable-rate packages
  • Choice of four currencies: SGD, USD, HKD, RMB
    
• Q2. Am I eligible?
  • UOB (China) Home Loan is open to foreigners, as well as citizens from Hong Kong, Macau and Taiwan for the purchase of residential properties in China for owner-occupation purposes. Foreign applicants must have worked or studied in China for more than one year.
    
    UOB (China) Home Loan is also open to local citizens for purchase of residential properties in China.
• Q3. What is the maximum loan repayment period?
  • For foreigners, the maximum loan repayment period is 30 years or up to the point the borrower turns 70 years old, whichever is earlier. For example, if you are 45 years old now, the maximum loan repayment period is 25 years.
    
    For local citizens, the maximum loan repayment period is 30 years or up to the point the borrower turns 65 years old, whichever is earlier. For example, if you are 45 years old now, the maximum loan repayment period is 20 years.
• Q4. What are the interest rates offered?
  • UOB (China) Home Loan offers competitive variable-rate packages. As the rates offered will depend on the package that best caters to your home financing needs, please contact UOB (China) Mortgage Hotline or any of our Branches for details.
    
• Q5. Is there any fee involved in the loan application?
  • For foreign currency loan, the minimum processing fee is 0.25% of the loan amount. There is no processing fee for RMB loan.
• Q6. Are there any cancellation charges?
  • The cancellation fee is 0.25% of the cancelled loan amount
• Q7. Am I allowed to do a partial loan prepayment?

  • Prepayment of loan is allowed subject to the following fees:

    RMB Loans
    1^st year: 3% on the amount prepaid
    2^nd year onwards: No Penalty

    Foreign Currency Loans
    1^st year: 2% of prepaid amount
    2^nd year: 1% of prepaid amount
    3^rd year: 0.5% of prepaid amount
    4^th year onwards: No penalty

• Q8. Do I have to pay for expenses such as legal fees, valuation fee, fire insurance any other charges?
  • Depending on the choice of loan currency, expenses such as legal fees, valuation fee and fire insurance may apply.
• Q9. How do I repay my loan?
  • If you take up a UOB (China) Home Loan to buy a residential property, your instalments over the repayment period will be calculated based on your full loan amount. Your first instalment will commence one month from the date of disbursement of loan. For example, if your loan is disbursed on 25 June, your first instalment will be due on 25 July. Your last repayment date will be the final maturity date stated in your Loan Agreement with the Bank. We will assist you in opening a personal account with one of our China branches in the loan currency of your choice for you to settle your monthly loan instalments.
    
• Q10. How do I apply for a UOB (China) Home Loan?
  • To obtain an Application Form, please contact UOB (China) Mortgage Hotline or any of our branches at the contact details stated below. Please also note that you will be required to submit documents in support of your loan application.
    
• Q11. What are the documents required for a Housing Loan application?
  • Foreigners: Passport ;
    Hong Kong, Macau and Taiwan residents: Entry Card;
    Local residents: Identity Card.
  • Marital Status Proof (if applicable)
  • Sales & Purchase Contract and down-payment receipt
  • Latest 3 months' income proof
  • Duly completed application form
  • Supporting documents to prove that you have worked or studied in China for more than one year (for foreign applicant)
  • Other required documents
• Q12. What happens if there is a difference between the Purchase Price and Valuation Price?
  • Prior to the approval of your home loan application, we will appoint a valuer to assess the market value of the property. If this valuation is lower than your purchase price, you will have to pay the difference in cash before any loan can be disbursed. The maximum loan amount you can borrow is up to 70% of the purchase price or valuation price (whicever is lower)
• Q13. Is home insurance necessary?
  • Yes. The property is required to be insured. We can assist you in arranging for the home protection insurance.