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Investor Relations > News Room > News Release Index > News Release - 9 Jan 2003

News Release - 9 Jan 2003
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United Overseas Bank Limited
Revises Its UOB HDB Home Loan Rates

Second Year Fixed Rate Reduced to 2.55% p.a.
for UOB CashPlus and/or UOB Credit Card Customers

Third and Subsequent Years' Rates Also Reduced to 2.60% p.a.

Singapore, 9 January 2003 - United Overseas Bank Limited (UOB) today announces its revision of its UOB HDB Home Loan rates. The rates revision takes effect from today, 9 January 2003.

For new and existing UOB CashPlus and/or UOB Credit Card customers, the first year fixed rate remains unchanged at 1.55% p.a., but the second year fixed rate is reduced to 2.55% p.a.

With the revision of the third and subsequent years' rates to 2.60% p.a. for the bank's two packages, new HDB homebuyers as well as those seeking refinancing will benefit from more interest savings in the long term.

The revised details of the packages are as follows:

UOB HDB Home Loans
Special Package for New & Existing UOB CashPlus and/or UOB Credit Card Customers Standard Package
Interest Rates
Year 11.55% p.a. (Fixed)Year 12.00% p.a. (Fixed)
Year 22.55% p.a. (Fixed)Year 22.50% p.a. (Fixed)
Year 3 & Thereafter2.60% p.a.
(BR - 2.90%)		Year 3 & Thereafter2.60% p.a.
(BR - 2.90%)
BR = Current UOB HDB Home Loan Board Rate of 5.50% p.a. which is subject to review at the Bank's discretion.

Ms Sim Puay Suang, Executive Vice President of Personal Financial Services, said, "This latest revision of rates reaffirms our commitment to provide attractive packages to our customers in the long term. We are determined to provide competitive rates and offer a total home solution to our customers with value, flexibility, convenience and a host of other benefits."

Customers applying for the packages will also enjoy the following additional benefits:

  • Free fire insurance for the first two years that includes coverage on home content, burglary and loss of rental - this offer is the first in the market
  • 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 upon 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:

Ms Sharon Loh UOB Corporate Affairs
Tel: (65) 6539 3985 Fax: (65) 6538 2559
Email: Sharon.LohKY@UOBgroup.com







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