UOB Shanghai Home Loan
Your Dream Home Tailored to Your Needs

Frequently Asked Questions

Q1. What are the benefits of a UOB Shanghai Home Loan?
Q2. Am I eligible?
Q3. What is the maximum loan repayment period?
Q4. What are the interest rates offered?
Q5. How do I repay my loan?
Q6. How do I apply for a UOB Shanghai Home Loan?
Q7. What are the documents required for a Housing Loan application?
Q8. What happens if there is a difference between Purchase Price and Valuation Price?
Q9. Do I have to pay any valuation fees?
Q10. Is home insurance necessary?

 

Q1. What are the benefits of a UOB Shanghai Home Loan?
  • Competitive variable-rate packages
• Choice of four currencies: SGD, USD, HKD, RMB
   
Q2. Am I eligible?
  UOB Shanghai Home Loan is open to foreigners, as well as citizens from Hong Kong, Macau and Taiwan for the purchase of residential properties in Shanghai for owner-occupation purposes.
Foreign applicants must have worked or studied in China for more than one year.
   
Q3. What is the maximum loan repayment period?
  The maximum loan repayment period is 25 years or up to the point the borrower turns 65 years old, whichever is earlier. For example, if you are 45 years old now, the maximum loan repayment period is 20 years.
   
Q4. What are the interest rates offered?
 

UOB Shanghai Home Loan offers competitive variable-rate packages. As the rates offered will depend on the package that best caters to your home financing needs, please contact UOB Shanghai Branch or
UOB Jing An Sub-Branch for more information:

• Branch address:

UOB Shanghai Branch
2201 Jin Mao Tower
88 Century Boulevard
Pudong New Area
Shanghai 200120
UOB Jing An Sub-Branch
1468 Nan Jing Road West
1P-01/02 United Plaza
Shanghai 200040

• For telephone enquiries:
- UOB Shanghai Branch: (86) (21) 5047 3688
- UOB Jing An Sub-Branch: (86) (21) 6247 3688

• For email enquiries: JingAnCustomerService@UOBgroup.com

   
Q5. How do I repay my loan?
  If you take up a UOB Shanghai Home Loan to buy a residential property in Shanghai, your instalments over the repayment period will be calculated based on your full loan amount. Your first instalment will be due on the 15th day of the following month, after your loan has been disbursed. For example, if your loan is disbursed on 25 June, your first instalment will be due on 15 July. Your last repayment date will be the final maturity date stated in your Loan Agreement with the Bank. We will assist you in opening a personal account with one of our Shanghai branches in the loan currency of your choice for you to settle your monthly loan instalments.
   
Q6. How do I apply for a UOB Shanghai Home Loan?
  To obtain an Application Form, please contact any of our branches in Shanghai at the contact details stated above. Please also note that you will be required to submit documents in support of your loan application.
   
Q7. What are the documents required for a Housing Loan application?
 

You are required to submit the following documents for your loan application:

• Duly completed loan application form (available at our Shanghai branches)
• A certified true copy of your Passport
• Latest certified true copy of your Income Statement and Income Tax Slip for the past one year
• A certified true copy of the Sales & Purchase Agreement
• A certified true copy of the downpayment receipt
• A certified true copy of your certificate of marriage and a letter of your spouse's agreement (to be notarised)
• Supporting document(s) to prove that you have resided in China for more than one year:
     – Employment contract;
     – Proof of study in an institution;
     – Work permit;
     – Any other proof of residence
• Any other documents as may be required at the point of application

   
Q8. What happens if there is a difference between the Purchase Price and Valuation Price?
  Prior to the approval of your home loan application, we will appoint a valuer to assess the market value of the property. If this valuation is lower than your purchase price, you will have to pay the difference in cash before any loan can be disbursed.
   
Q9. Do I have to pay any valuation fees?
  Yes. Depending on the value of the property, the valuation fee starts from RMB1,800.00 (or about SGD360.00, subject to the exchange rate).
   
Q10. Is home insurance necessary?
  Yes. The property is required to be insured. We can assist you in arranging for the home protection insurance.

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