Debt Consolidation Plan

  • More time to manage your Debt Consolidation PlanMore time to manage your Debt Consolidation Plan

    More time to manage your Debt Consolidation Plan

    Extend the loan tenor of your existing Debt Consolidation Plan for up to 5 years, anytime from now to 31 Dec 2020.

     

    Apply now
  • An opportunity for a clean slateAn opportunity for a clean slate

    Regain your financial foothold with lower interest rates and monthly instalments

    Enjoy interest rates from 4.50% p.a. (EIR 8.22% p.a.1), with the flexibility to select your preferred tenor of up to 8 years.

     

    Terms and Conditions apply

    Apply now

How It Works

  View calculator View 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
hand David's requirements
 
  • Manage only 1 repayment date from 1 account
  • Repay his $80,000 outstanding balance within 72 months
list Is 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

8.22%
Fixed monthly repayment: S$1,411.11
Loan tenor: 72 months
Total interest payable: S$21,600

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$1,411.11.

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

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

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

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

Complementary Visa Platinum Card

Manage your daily essentials with ease.

Rates & Tenors

Enjoy greater flexibility on your loan repayment today! Choose from a lower preferential interest rate on your first year loan or a fixed interest rate throughout your preferred loan tenor with us.

Fixed Interest Rate

Tenor Interest Rate EIR
1 – 6 years 4.50% p.a. 8.22% p.a.1
7 – 8 years 5.50% p.a. 9.67% p.a.2

Tiered Interest Rate Offer

Tenor Interest Rate EIR
6 years Year 1 2.28% p.a. 9.04% p.a.3
Year 2- 6 6.28% p.a.
7 years Year 1 2.99% p.a. 10.35% p.a.4
Year 2- 7 6.99% p.a.
8 years Year 1 2.99% p.a. 10.41% p.a.5
Year 2- 8 6.99% p.a.

1The Effective Interest Rate (“EIR”) payable on the Loan based on fixed interest rate for a 72 months Loan tenor is 8.22% p.a.

2The Effective Interest Rate (“EIR”) payable on the Loan based on fixed interest rate for a 96 months Loan tenor is 9.67% p.a.

3The Effective Interest Rate (“EIR”) payable on the Loan based on tiered interest rate for a 72 months Loan tenor is 9.04% p.a.

4The Effective Interest Rate (“EIR”) payable on the Loan based on tiered interest rate for a 84 months Loan tenor is 10.35% p.a.

5The Effective Interest Rate (“EIR”) payable on the Loan based on tiered interest rate for a 96 months Loan tenor is 10.41% p.a.

Promotions

Existing customers can extend the loan tenor of their Debt Consolidation Plan for up to 5 years, anytime from now to 31 Dec 2020.

The extension in the loan tenor of the DCP will not cause the loan to be reflected as a restructured loan in your credit bureau report.

Customer Education
Illustration
Original loan amount S$60,000
Interest rate 4.50% p.a.
Original loan tenor (months) 72
No. of months instalment has been “charged/billed” 30
Tenor extension period (months) 48
  No tenor extension With tenor extension
Remaining tenor (months) 42 90
Monthly instalment S$1,058.33 S$560.61
Total interest payable S$16,200 S$23,003.13

This option is available for borrowers whose repayments are between 30 and 90 days past due at the point of application at an opt-in basis.

FAQs on UOB Debt Consolidation Plan Loan Extension Programme

Apply Now

How to Apply

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)

 

3 easy ways to apply:

Call Us

Contact our loan associates at +65 6715 5690 (Mon – Fri, 9am – 6pm)

 

Contact Me

Provide your details and our loan associates will be in touch with you within 2 business days.


Contact Me

E-Mail

Complete the form together with your supporting documents and email them to uobdcp@uobgroup.com


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FAQs

Do you have a question about UOB Debt Consolidation Plan?

question

Get answers to your questions here.

Alternatively, our Loan Associates are contactable at +65 6715 5690