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News Release - 7 Jan 2003
News Release - 7 Jan 2003
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United Overseas Bank Limited
Announces
Its New UOB HDB Home Loan Package
Package for UOB CashPlus and/or UOB Credit Card Customers
comes with the LOWEST First Year Fixed Rate Of 1.55% p.a.
Singapore, 7 January 2003 - United Overseas Bank
Limited (UOB) today announces its new UOB HDB Home Loan package with the lowest first year fixed rate of 1.55% p.a. in the market for new and existing UOB CashPlus and/or UOB Credit Card customers.
Ms Sim Puay Suang, Executive Vice President of Personal Financial Services, said, "As a recognised leader in the personal loans business, the introduction of our new UOB HDB Home Loan package demonstrates our commitment to provide the best value to our customers. Our HDB Home Loan rates for UOB CashPlus and/or UOB Credit Card customers are the same as our private residential properties loan rates. Our new UOB HDB Home Loan package gives customers maximum interest savings, flexibility, convenience and a host of other benefits so that they can enjoy a total home solution."
Apart from the new package for UOB CashPlus and/or UOB Credit Card customers, new HDB homebuyers as well as those seeking to refinance their existing HDB Loans can also opt for our revised standard package. Both packages take effect from 7 January 2003. The first 300 customers who accept our offer are also entitled to a free holiday package for two to Bangkok.
The details of the packages are as follows:
| UOB HDB Home Loans |
| Package for New & Existing UOB CashPlus and/or UOB Credit Card Customers |
Standard Package |
| Interest Rates |
| Year 1 | 1.55% p.a. (Fixed) | Year 1 | 2.00% p.a. (Fixed) |
| Year 2 | 2.80% p.a. (Fixed) | Year 2 | 2.50% p.a. (Fixed) |
| Year 3 | BR - 2.70% | Year 3 | BR - 2.70% |
| Year 4 & Thereafter | BR - 1.50% | Year 4 & Thereafter | BR - 1.50% |
BR = Current UOB HDB Home Loan Board Rate is 5.50% p.a. and is subject to review at the Bank's discretion.
Exclusive Benefits For A Total Home Solution
- Free holiday package for two to Bangkok for the first 300 customers who accept UOB's Letter of Offer for any of the two new packages
- A first in the market: Free fire insurance for the first two years that includes free coverage on home content, burglary and loss of rental
Other benefits are:
- 24-hour in-principle approval
- Free processing
- Legal fee subsidy
- Flexible loan repayment period
- Preferential interest rates for UOB RenoPlus (renovation loan) and bridging loan
- Five-year annual fee waiver* for UOB CashPlus, a personal line of credit
- Five-year annual subscription fee waiver* for UOB Credit Card
* Waiver is applicable for five years or UOB HDB Home Loan redemption whichever is earlier.
For more information, customers can call 1800 22 22 121 (24-hour). To apply, they can do so online at www.uobgroup.com/hdbloan, drop by any UOB Group branch or visit UOB's HDB Loan Centre located at #02-08 at the HDB Hub.
For further information, please contact:
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