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DAVID'SOUTSTANDING BALANCES*35 years old, Singaporean
*refers to outstanding unsecured interest-bearing balances only
- S$20,000with bank A
- S$30,000with bank B
- S$30,000with bank C
S$80,000total outstanding balances with all banks
David's requirements
- Manage only 1 repayment date from 1 account
- Repay his $80,000 outstanding balance within 72 months
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.
Based 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$1,411.11.
Would you like to do a self assessment?
Try itYOUR FINANCESS$
total outstanding balances with all banks
S$
Monthly income Please contact one of our loan associatesPlease enter an amount of at least $2,500.
Repayment period*
Please contact one of our loan associates
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.
Now let’s look at how much you would need to pay on a monthly basis
Based 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
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