Introduction
If you’re looking for a flexible and convenient way to manage your finances, UOB Cash Line Singapore is an excellent option. This personal line of credit allows you to borrow up to four times your monthly income, with a minimum credit limit of $1,000. You can use the funds for anything you need, from paying for unexpected expenses to consolidating debt.
Understanding UOB CashPlus
UOB Cash Line Singapore is part of the CashPlus suite of products offered by UOB. CashPlus is a personal line of credit that gives you access to funds whenever you need them, without having to apply for a new loan every time. You can use your CashPlus account to withdraw cash, make purchases, or transfer funds to other accounts. The interest rate on your CashPlus account is based on the amount you borrow and the length of time you borrow it for.
Eligibility and Application
To be eligible for UOB Cash Line Singapore, you must be a Singapore citizen or permanent resident with a minimum annual income of $30,000. You must also be at least 21 years old. To apply, you can visit any UOB branch in person or apply online. You will need to provide proof of income and identification, as well as any other documents required by UOB.
Key Takeaways
- UOB Cash Line Singapore is a flexible and convenient way to manage your finances, allowing you to borrow up to four times your monthly income.
- CashPlus is a personal line of credit that gives you access to funds whenever you need them, without having to apply for a new loan every time.
- To be eligible for UOB Cash Line Singapore, you must be a Singapore citizen or permanent resident with a minimum annual income of $30,000.
Understanding UOB CashPlus
If you’re looking for a personal line of credit in Singapore, UOB CashPlus might be just what you need. With UOB CashPlus, you can enjoy the convenience of having access to cash whenever you need it, without having to worry about high-interest rates or fees.
Features and Benefits
One of the main benefits of UOB CashPlus is its flexibility. You can access cash via UOB Personal Internet banking, UOB branches, ATMs, UOB CashPlus chequebook, or UOB CashPlus Visa Card. This means you can access cash whenever and wherever you need it.
Another great feature of UOB CashPlus is that credit balances in your account will be drawn down first before your credit line is utilized. This can give you peace of mind knowing that you won’t be charged interest on your credit line until you’ve used up your credit balance.
UOB CashPlus also offers rebates of up to 35% when you use your account at participating merchants like Best Denki, EpiCentre, Barang Barang, SK Jewellery, and more. You can also enjoy a generous credit limit that is subject to the bank’s approval and terms and conditions.
Interest Rates and Fees
UOB CashPlus has an interest rate of 20.5%, which is around the market average in Singapore. However, individuals earning below S$30K annual income will be charged a higher interest rate of 23.5%.
In addition to the interest rate, UOB CashPlus has an annual fee of S$120. This fee is higher than some other personal line of credit options in Singapore, but it’s important to consider the overall benefits and convenience of the account when weighing the cost.
Overall, UOB CashPlus can be a great option if you’re looking for a flexible and convenient personal line of credit in Singapore. With its multiple access points, rebates, and credit limit, you can enjoy peace of mind knowing that you have access to cash whenever you need it.
Eligibility and Application
If you are a Singapore citizen or permanent resident, you are eligible to apply for the UOB CashPlus personal line of credit. To apply, you must meet the basic eligibility criteria and submit the required documents.
Basic Eligibility Criteria
To be eligible for UOB CashPlus, you must be at least 21 years old and have a minimum annual income of $30,000. You must also have a valid NRIC and be a Singapore citizen or permanent resident.
Application Process
You can apply for UOB CashPlus in several ways. You can fill out an online application form, download an application form and mail it back to the bank, or visit any UOB Group Branch. You can also call the bank’s 24-hour, toll-free number at 1800 222 2121 to request an application form to be sent to you.
When you apply, you will need to provide your personal information and income documents. You will also need to indicate the desired credit limit and repayment period.
Required Documents
To apply for UOB CashPlus, you will need to submit the following documents:
- NRIC (front and back)
- Latest computerised payslip or Income Tax Notice of Assessment
- For self-employed individuals, latest Income Tax Notice of Assessment and bank statements for the past 3 months
Once you have submitted your application and required documents, the bank will review your application and inform you of its decision. If your application is approved, you will receive the funds in your UOB CashPlus account.
Managing Your CashPlus Account
As a UOB CashPlus account holder, managing your account is easy and convenient. You can access your account through UOB Personal Internet Banking, ATM services, or by contacting the UOB call centre.
Internet Banking
UOB Personal Internet Banking is a secure and convenient way to manage your CashPlus account. You can log in to your account 24/7 to view your account balance, transaction history, and credit limit. You can also make payments, transfer funds, and request for a chequebook.
ATM Services
With UOB CashPlus, you can access cash anytime, anywhere through UOB ATMs. You can withdraw cash, transfer funds, and check your account balance. UOB ATMs are conveniently located all over Singapore, making it easy for you to access your funds.
Customer Support
If you have any questions or concerns about your UOB CashPlus account, you can contact the UOB call centre. The phone banking service is available 24/7, and the customer service representatives are always ready to assist you. You can also visit any UOB Group Branch for assistance with your account.
Managing your UOB CashPlus account is easy and convenient. With UOB Personal Internet Banking, ATM services, and customer support, you can access your funds and manage your account with ease.
Repayments and Fees
Understanding Repayment Terms
UOB CashPlus offers flexible repayment terms to suit your financial needs. You can choose to make minimum payments or pay off your balance in full each month. The minimum amount payable is 3% of your outstanding balance or S$50, whichever is higher.
If you opt for scheduled funds transfer, your payments will be automatically deducted from your UOB account. Alternatively, you can make your payments via cheque or cash at any UOB branch.
Additional Charges
UOB CashPlus charges a processing fee of 2% of the approved credit limit. There is also a handling fee of S$100 for each approved application.
In addition to the processing and handling fees, there is a service charge of S$10 per month. This is waived if you make a minimum of one transaction per month or maintain a minimum balance of S$1,000.
Late payment fees are charged at 5% of the minimum payment or S$80, whichever is higher. Overlimit fees are charged at 3% of the excess amount or S$40, whichever is higher.
Foreign currency transactions are subject to a fee of 1.5% of the transaction amount. Cheque collection fees are S$30 per cheque/cheque range.
It is important to understand the repayment terms and additional charges associated with UOB CashPlus to avoid any unnecessary fees.
Exclusive Promotions and Offers
If you are looking for a reliable and flexible source of funds, UOB Cash Line Singapore is a great option. In addition to its competitive interest rates, UOB also offers various promotions and offers to help you save money and get more out of your Cash Line account.
One of the most popular promotions is the cash rebate offer. By applying for a new Cash Line account, you can enjoy a cash rebate of up to $200. This offer is available for a limited time only, so be sure to apply now to take advantage of this great deal.
In addition to the cash rebate offer, UOB also regularly offers other promotions and discounts for Cash Line customers. These promotions can include lower interest rates, waived fees, and other incentives to help you save money and get more out of your account.
To apply for UOB Cash Line Singapore, simply visit the UOB website and fill out the online application form. The application process is quick and easy, and you can typically receive a response within a few business days.
Overall, UOB Cash Line Singapore is a great option for anyone looking for a flexible and reliable source of funds. With its competitive interest rates and exclusive promotions and offers, it’s easy to see why so many people choose UOB for their financial needs. So why wait? Apply now and start enjoying the benefits of UOB Cash Line today!
Frequently Asked Questions
What are the latest promotions available for UOB Cash Plus?
UOB CashPlus offers various promotions from time to time. To stay updated on the latest promotions, you can visit the UOB website or check with a UOB representative.
How can one determine their eligibility for UOB Cash Line?
To determine your eligibility for UOB Cash Line, you can visit the UOB website or speak to a UOB representative. You will need to provide your personal and financial information to determine your eligibility.
What are the interest rates currently offered for UOB Cash Line?
The interest rates for UOB Cash Line vary depending on the amount borrowed and the repayment period. You can visit the UOB website or speak to a UOB representative to find out more about the current interest rates.
Could you explain how the UOB CashPlus facility functions?
UOB CashPlus is a revolving credit facility that allows you to borrow money up to a predetermined credit limit. You can withdraw cash or make purchases using the credit line. You will only be charged interest on the amount you have borrowed, and you can choose to repay the borrowed amount in full or in instalments.
What is the maximum withdrawal limit for UOB ATMs in Singapore?
The maximum withdrawal limit for UOB ATMs in Singapore is $3,000 per day. However, this limit may vary depending on the type of account you have and the ATM you are using.
How does UOB CashPlus differ from a traditional personal loan?
UOB CashPlus is a revolving credit facility, while a traditional personal loan is a lump sum loan. With UOB CashPlus, you can borrow money up to a predetermined credit limit and repay the borrowed amount in full or in instalments. With a traditional personal loan, you will receive a lump sum loan and repay the loan in fixed instalments over a predetermined period of time.
Overall, UOB CashPlus is a flexible and convenient way to borrow money, and it offers many benefits over traditional personal loans.