UOB home loan interest rates
United Overseas Bank Limited is a household name in Singapore, a banking organisation headquartered locally with branches mostly found in most South-east Asian countries. It was founded in 1935 by Sarawak businessman Wee Khiang Cheng. Besides Far Eastern Bank in Singapore, UOB’s major banking subsidiaries in the region are United Overseas Bank (Malaysia), United Overseas Bank (Thai), PT Bank UOB Indonesia and United Overseas Bank (China). The bank now has close to 70 branches in Singapore and a network of more than 500 offices in 19 countries and territories.
UOB provides a wide range of financial services through its global network of branches and subsidiaries including personal financial services, private banking, commercial and corporate banking, investment banking, corporate finance, capital market activities and stockbroking services. In Singapore, UOB is a market leader in the credit card segment and residential home loan businesses. It is also a key player in loans to small and medium enterprises. In 2011 UOB was named the Best Retail Bank in Singapore and the Best SME Banking Business in The Asian Banker’s 10th International Excellence in Retail Financial Services Awards Programme. UOB is rated among the world’s top banks, with a rating of Aa1 from Moody’s and AA- from Standard & Poor’s respectively.
UOB provides quite a comprehensive suite of home loans ranging from private home loans, HDB home loans, home equity financing, construction loan and international home loan. To give an idea of their interest rates on home loans, indicative fixed rates are at 1.48% interest for private home loan for the first year, and 1.78% for the second year. Floating rates based on 3 month Sibor typically adds an additional 1.05% to 1.25% on top of the Sibor rates.
For those that are interested, UOB also has a plan call the UOB Home plus, which is a home loan that pays interest on your deposits with the bank. According to UOB’s website, UOB Home Plus offers a competitive interest rate that pays the same amount and pays the same rate as your deposit account.
As leading Singapore mortgage brokers, let us get you the lowest mortgage packages for: