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Refinancing

  • refinancingrefinancing

    The power is in your hand

    Refinance your residential or commercial property with UOB to enjoy great savings. Plus, unlock the potential of greater financial flexibility today!

  • Private Home Loan Online ExclusivePrivate Home Loan Online Exclusive

    UOB Private Home Loan Online Exclusive

    Get up to S$3,000 worth of rewards when you refinance with us or up to S$800 gift card when you take up a new loan.

    Private Home Loan Online Exclusive

    Apply now

    T&Cs apply

  • Go Green Home LoanGo Green Home Loan

    Wake up to greener living with
    a UOB Go Green Home Loan

    Designed to support your needs not only for sustainable living but reducing ownership costs too.

    Go Green Home Loan

    Find out more

    Full terms and conditions apply.

  • Hello SORAHello SORA

    Home with SORA

    Welcome to the UOB 3-Month Compounded SORA Home Loan package that gives you better control of your finances.

    SORA

    Apply Now

  • Calculate, valuate and secure your HDB home loan instantlyCalculate, valuate and secure your HDB home loan instantly

    Calculate, valuate and secure your HDB home loan instantly

    A simple way to secure your dream home online with UOB Home Solution

    Find out more

Announcement: With effect from 15 November 2022, we will be revising the Standard Terms & Conditions Governing Credit Facilities (“the Standard Term”) for all property loans. Please click here for details.

Overview

As interest rates are constantly changing, a good rate five years ago may not be a good rate today. Have a chat with us to see if you should consider refinancing your home loan to save on interest rates.

Promotion

UOB Property Loans Online Exclusive

Apply for a UOB Property Loan online and obtain instant approval1 within minutes.

Bring home up to S$3,000 worth of cash and gift card (inclusive of S$2,200 in cash for refinancing), available exclusively when you apply online.

Refinancing of Private Residential Property Loan from another financial institution

Criteria Sign Up Gift*
Min. S$450,000 home loan
(Completed Property Only)		 S$2,200 Cash^
Min. S$500,000 home loan~
(Completed Property Only)		 S$2,200 Cash^ and S$300 TANGS Gift Card
Min. S$1,000,000 home loan~
(Completed Property Only)		 S$2,200 Cash^ and S$600 TANGS Gift Card
Min. S$1,500,000 home loan~
(Completed Property Only)		 S$2,200 Cash^ and S$800 TANGS Gift Card

^Subject to min. Refi Housing Loan quantum of S$450,000. Refi Housing Loan is defined as a Re-financing Facility for the purchase of private residential property. S$2,200 Cash cannot be stacked with Legal & Valuation subsidies accorded under the Privilege Banking/Privilege Reserve Exclusive Promotion.

~Applicable for a limited time only, promotion ends 30 December 2022.

Choose from a range of competitive pricing packages with support from our dedicated mortgage bankers.
You can find out more about the UOB Property Loans Online Exclusive or our competitive pricing packages from our bankers!

Apply Now

 

For Singaporeans and PRs:
Click on "APPLY NOW" to apply for a new UOB Home Loan with forms pre-filled by retrieving your personal information with MyInfo. Applications submitted between 8.30am to 9pm daily will be processed instantly. Applications received outside these times will be processed the next working day.

For Foreigners and U.S. Persons:
Please leave us with your details so we can contact and assist you. (This does not constitute an online application and the sign up gift will not be applicable.)

1Instant approval refers to a conditional approval for a UOB Property Loan, and is granted based on the information provided by the applicant. It is processed and approved by UOB, and is subject to the applicable terms and conditions, including the necessary documentation verification and completion.

*Terms and Conditions:

  • This Promotion is only valid from 15 November 2022 to 30 December 2022 (“Promo Period”).
  • Promotion is only valid for Private Residential Property, for new purchase or refinancing from another bank and selected loan packages only.
  • Application must be submitted online during the Promo Period by clicking the “Apply Now” button above. Letter of Offer issued by UOB in connection with the application submitted for the property loan must be accepted by 30 December 2022.
  • Limited to one Sign up Gift per Letter of Offer accepted
  • Sign Up Gifts are on a first-come-first-served basis, whilst stocks last and subject to availability. UOB shall not be required to notify and/or update on the stock availability.
  • By participating in this Promotion and in addition to any other consent you have already provided to UOB and any right of UOB under applicable laws, you consent to UOB and the necessary third parties collecting, using and disclosing your personal data for the purposes of this Promotion and to contact you, including by voice call or text message.
  • UOB may change these terms or suspend/terminate the Promotion without giving notice.
  • Full Terms and Conditions apply.

Benefits

money-dollar-coins

Lower your monthly payments

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business-enhancement

Pay off your mortgage faster

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private-home

Unlock cash value from your property

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There are different ways of achieving lower monthly repayments. You can switch to another loan type, such as from a fixed-rate loan to a floating-rate one. Alternatively, you can consider extending the tenor of your loan. However, bear in mind that while your monthly repayment would go down if you were to extend your loan tenor, you will end up paying more in interest expenses over the duration of the loan.

 

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When you reduce the interest rates on your existing loan, you also reduce the interest component and increase the principal component of your monthly instalments. Thus, you will pay down your loan principal over a shorter tenor.

On the same note, if you would like to shorten your repayment schedule by reducing your loan tenor and can afford the increase in monthly instalments you could save a significant amount of money by reducing the interest that you will pay over the full duration of the loan. Although this may mean higher monthly repayments, you will own your home faster and be free of mortgage debt sooner.

 

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With property appreciation, your residential or commercial property is likely to be worth more now than when you first took up your original loan. Tap into the appreciated value of your property to do great things – expand your business, have a home makeover or go on a luxury vacation.

 

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Home Loan Packages

Choose from our wide range of loan packages to suit your financing needs.
Enjoy flexible options to pay down your loan partially or customise your loan to ensure you get the most out of it.

  SORAPROMOTIONAL
Limited tranche for New Direct-to-Bank* customers only 		Fixed Rate
Year 1 3M Compounded SORA + 0.70% p.a. For fixed-rate or combination of fixed-rate and 3-Month Compounded SORA packages, please complete the Contact Us form here so that our Home Loan Specialists can be in touch with you within the next business day.
Year 2 3M Compounded SORA + 0.70% p.a.
Year 3 3M Compounded SORA + 0.80% p.a.
Year 4 and thereafter 3M Compounded SORA + 1.00% p.a.
Lock in period 2 years
Min Loan Size S$500,000
Special Features
  • 1 free conversion after 12 months from the date of first disbursement, subject to the terms and conditions in the Letter of Offer.
  • Flexibility to prepay^ your loan/sell# your property, subject to the terms and conditions in the Letter of Offer.
Other benefits Submit your application online & our banker will be in touch with you to share more on our limited time promotional offers. Valid only for direct applications without third party referrals.
Additional notes Promotional rates are available for a limited period and only valid for completed residential properties in Singapore, for your new purchase or refinancing from another bank/HDB. Subject to minimum loan size.
Pegged to the 3-month Compounded SORA that is published on MAS' website.  It is currently at 1.9280% p.a. (as at 27 September 2022). Find out more on SORA.

 

3M Compounded SORA refers to the 3-Month Compounded SORA that is published on MAS’ website.  It is currently at 1.9280% p.a. (as at 27 September 2022). Find out more on SORA.

Terms and Conditions

  • Above rates quoted are indicative and valid for completed residential properties in Singapore, for new purchase or refinancing from another bank/HDB.
  • Rates are subject to min. loan size.
  • Rates and benefits will only be confirmed upon issuance of Letter of Offer. The Letter of Offer shall contain such terms and conditions as UOB may require in relation to each property loan.
  • Rates and benefits are subject to changes without prior notice.

*This Promotion is not valid with agent referrals, Introduce A Friend, welcome back and/or third party referral payment, and shall not be applicable to individuals who have received other benefits, and/or administrative concessions from UOB on his/her existing or new property loan(s) (including, but not limited, to a waiver or reduction of any fee payable or penalty incurred by applicant(s)).

#This means that, in the event that the redemption of the Loan is due to sale of the Property and this redemption is within the Lock in Period, the redemption fee will be reduced by 50% subject to UOB’s receipt of satisfactory documentary evidence of the sale of the Property. In addition, the Borrower will be eligible for a refund of the reduced redemption fee paid to UOB if the Borrower fulfills the following conditions:
(i) the Borrower accepts a new loan from UOB of which the new loan amount is equal or higher than the redeemed loan amount;
(ii) such new loan is accepted by the Borrower within 6 months from date of redemption of the Loan;
(iii) the Borrower furnishes a signed copy of the Letter of Offer; and
(iv) such other condition(s) as may be determined by UOB.

^This means that prepayment penalty is payable if upon UOB’s receipt of the partial prepayment request during the Lock in Period, the outstanding Loan amount is less than S$200,000 or, as a result of the partial prepayment the outstanding Loan amount will be less than S$200,000.

Submit your loan application online now and our banker will be in touch with you to share more about exclusive home loan rates and promotions available.

Apply Now

Aligned to market best practices.

SORA (Singapore Overnight Rate Average) has been selected as the new interest rate benchmark in Singapore.

How does a 3-Month Compounded SORA work?

Illustration of 3-Month Compounded SORA

The 3-Month Compounded SORA is updated every 3 months.

 

 

D% and E% are 3-Month Compounded* SORA published by MAS on 4 Mar 2021 and 4 Jun 2021 respectively.

 

Find out more on how SORA works here

 

*Further reading material on use of SORA in financial contracts:
Association of Banks Singapore, SIBOR REFORM AND THE FUTURE LANDSCAPE FOR SGD INTEREST RATE BENCHMARKS, 29 July 2020 https://abs.org.sg/docs/library/sibor-reform-and-the-future-landscape-for-sgd-interest-rate-benchmarks.pdf

 
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Other Common Questions

 

Depending on the terms of your existing mortgage, you may face prepayment penalties or subsidy clawbacks when you refinance. It usually makes financial sense to refinance if you can get interest rates that is lower than the rate you are currently paying.


You may wish to consider the following issues to determine if it is the right time to refinance your home loan:

  • What is the remaining tenor on my existing home loan?
  • How long do I plan to reside in my home or hold it as an investment?
  • How much lower will my monthly instalments be after refinancing?
  • Are there any upfront costs for refinancing?
  • What is the current economic value of my home?

Apply Now

NEW! Switch and save easily with our instant Home Loan approval1.

Apply Online

 

For Singaporeans and PRs:
Click on "APPLY NOW" to apply for a new UOB Home Loan with forms pre-filled by retrieving your personal information with MyInfo. Applications submitted between 8.30am to 9pm daily will be processed instantly. Applications received outside these times will be processed the next working day.  

For Foreigners and U.S. Persons:
Please leave us with your details so we can contact and assist you.

1Instant approval refers to a conditional approval for a UOB Property Loan, and is granted based on the information provided by the applicant. It is processed and approved by UOB, and is subject to the applicable terms and conditions, including the necessary documentation verification and completion.

Wealth Banking Clients Exclusive

Exclusively for Wealth Banking customers, enjoy additional valuation subsidy# of S$160.50 when you refinance your Private Home Loan (min. S$1million) with UOB. This is on top of other existing promotions. Terms and conditions apply.

#This Promotion is valid from March to December 2022. Valuation subsidy is subject to clawback if the loan is repaid in full within 3 years from 1st loan disbursement date. The Letter of Offer shall contain such terms and conditions as UOB may require in relation to each property loan This Promotion is not valid with agent or broker referrals and not applicable for new purchase or where there is a transfer/part purchase done concurrently with the refinancing.

More Information

  • The loan repayment schedule for the loan package that you have chosen is available in either hard copy (on request) or soft copy in the form of a home loan calculator on the bank's website.
  • The Association of Banks in Singapore's (ABS) Consumer Guide on Home Loans is available and you are encouraged to get a copy from the bank and read it before committing to a loan. This guide is also available on the MoneySENSE and ABS websites in four official languages.

This publication is strictly for information purposes only and shall not be transmitted, disclosed, copied or relied upon by any person for whatever purpose. This publication is not an offer, recommendation, solicitation or advice to buy or sell any investment product. Nothing in this document constitutes accounting, legal, regulatory, tax, financial or other advice. You should consult your own professional advisors about issues discussed herein. While the information provided in this publication is believed to be accurate as at the date of publishing, UOB makes no representation or warranty, and accepts no responsibility or liability for its completeness or accuracy.