Standard Chartered Rewards+ Credit Card

Standard Chartered Rewards+ Credit Card

S$1= 10X Points

on Foreign Currency Spend

S$1= 5X Points

on Local Dining Spend

S$1= 1X Point

on All Other Spend

Quick Facts

Other Facts & Eligibility

  • Must be 21 years of age and above.
  • Singaporean/PR and Foreigners with valid Pass can Apply.
  • Minimum Annual  Income of Singaporean/PR must be S$30,000.
  • Foreigners Minimum Annual Income must be S$60,000.
  • For Existing SC Credit Card Holders, No Documents are required.
  • Monthly Spend is Not Required.
  • This annual fee is waived off for the first year.
  • Annual Fees is S$196.20 (including 9% GST) from 1 January 2024.
  • Effective Interest Rate (“EIR”): 27.9% per annum (minimum}
  • A late payment charge of S$100 will be charged if minimum payment due is not received by the due date.

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Pros & Cons


  • Free Travel Insurance Coverage of S$500,000


  • Need to be existing UOB Credit Card/CashPlus customer
  • Not available to foreigners with a Singapore Employment Pass

UOB Personal Loan Requirements 2024

Singapore Citizens or Permanent Residents (PRs) are eligible to apply for the UOB Personal Loan, as long as you’re aged 21 to 65. However, this loan is not available to foreigners. As the minimum annual income requirements are $30,000 for Singaporeans and PRs, Singaporeans and PRs with lower annual salaries, especially those earning less than $30,000 per year will not be eligible for this loan. In addition, you’ll have to be an existing UOB Credit Card/CashPlus customer to apply for this loan which can be done with your SingPass MyInfo details. A copy of your NRIC (front and back), your latest computerised payslip or latest 6 months’ CPF Contribution History Statement will be required for this loan application, so remember to have it on hand prior to the online application. For those who are keen on applying for a higher loan amount, you’ll need to prepare your latest Income Tax Notice of Assessment (NOA) as well.

UOB Personal Loan Interest Rates & Fees

UOB is among the handful of banks which do not charge any processing fees or initial annual fees. However, this is provided that your loan tenure is between 24 months and 60 months.

Currently, UOB’s offer of a 3.4% p.a annum interest rate on their personal loans comes with an Effective Interest Rate (EIR) that is estimated to be at 6.36% p.a. or higher, depending on your loan tenure.

The EIR is essentially the actual interest rate you’ll be paying as a percentage of your UOB Personal Loan. So, if you’re looking for a more attractive EIR when comparing personal loans, you may wish to use a platform like MoneySmart’s Personal Loans comparison tool, to save you some research time.

Considering that S$1,000 is the minimum amount you can borrow with this UOB Personal Loan, it seems pretty manageable to take on this loan. The maximum loan amount will really depend on your monthly income. To make this easier to understand, let’s use an example.

For instance, if you take on a loan of $10,000 with a 3-year loan tenure, and you’re drawing an annual income of $30,000, you’ll be paying about: $11,020 – $10,000 = $1,020 of interest

However, this is purely for illustration’s sake. Not every customer’s payable interest is the same as interest rates are personalised, so the rate that UOB proposes to you might differ from this example.

UOB Personal Loan Application

Before you start applying for the UOB Personal Loan or any other personal loans, it’s important to plan your finances well and only take up a manageable loan amount that you can afford to pay off in monthly instalments, and consider the other costs involved such as Effective Interest Rate (EIR), processing fees, annual fees, vice versa. Here are 3 simple steps to apply for the UOB Personal Loan:

Step 1

Apply via MoneySmart’s Personal Loans page

Simply start your application by clicking on our UOB Personal Loan application link. The application can be done online with your SingPass MyInfo account details. Once you’ve entered the required information, UOB will pull your identity and income data from SingPass (which is already verified), which shortens the processing time. You can expect the approval-in-principle page to appear within minutes of submitting your MyInfo details.

Step 2

Get all required documentation ready

Next, prepare all the necessary documentation that is needed for UOB to approve your personal loan application. The list of documents include:

  • NRIC or other identification details
  • Latest computerised payslip
  • Latest 6 months’ CPF Contribution History Statement
  • Latest Income Tax Notice of Assessment (NOA) if you wish to be considered for a higher loan amount

Step 3

Look out for your instant loan disbursement

The loan disbursement will be completed instantly upon UOB’s approval of your online application.

Compare UOB personal loan vs SCB CashOne vs HSBC personal loan

There is a wide variety of personal loans in the market nowadays, so there are other types of popular personal loans like the Standard Chartered CashOne and HSBC personal loan other than this UOB personal loan. As you compare the different interest rates and benefits of the many personal loan options available on MoneySmart’s online personal loan wizard, you’ll be able to make a better decision.

Interest rates, annual fees, minimum annual income requirements and loan disbursement speed are usually the main factors which we’ll look at. As you compare across the 3 personal loans, SCB CashOne seems to have the highest interest rate of 3.48%, plus an initial annual fee of $199. This makes UOB personal loan which offers 3.4% a more attractive option as it has a lower interest rate and no annual fee charges. In addition, UOB personal loan has a faster disbursement time as compared to the HSBC personal loan.

However, if you’re earning a lower minimum annual income requirement of $20,000, SCB CashOne may be a more viable choice for you as HSBC personal loan and UOB personal have a higher minimum annual income requirement of $30,000 for Singaporeans and PRs.

Frequently Asked Questions

What are the annual fee and processing fees payable if I take up the UOB loan?

UOB does not charge any annual fee or processing fees.

How do I apply for the UOB Personal Loan?

You can apply for the UOB Personal Loan in 3 simple steps. 1. Click “Apply Now” on the UOB Personal Loan option on MoneySmart’s Personal Loans page 2. Provide your NRIC or other identification details, latest computerised payslip, latest 6 months’ CPF Contribution History Statement, and latest Income Tax Notice of Assessment (NOA) if you wish to be considered for a higher loan amount 3. Receive your loan disbursement instantly.

Am I eligible for the UOB Personal Loan?

If you’re a Singapore Citizen, Permanent Resident (PR), you’re eligible to apply for the UOB Personal Loan, as long as you’re aged 21 to 65, and earn a minimum annual income of $30,000. Foreigners with valid Singapore Employment Passes are not eligible for this loan at the moment.

Are there any penalties for late payments of my monthly instalment?

Late payment charge is S$60 and the late payment interest of 24% per annum is applicable too, although subject to a minimum of S$20 (if your annual income is S$20,000 – S$29,999). The late payment interest will be 4% per annum over the interest rate applicable to your loan, if your annual income is above S$30,000.

When will I receive the approved loan amount in my bank account?

Your application will be reviewed by UOB upon submission. If your application is done online, you’ll receive your loan amount instantly upon approval of your loan.

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