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United Overseas Bank (UOB) introduces UOB CostPlus Home Loan, a new financing package that is pegged to a choice of three SWAP Offer Rates*. With that, homeowners now have an additional option to select from UOB's wide range of home financing solutions.

UOB CostPlus Home Loan is pegged to the SWAP Offer Rate*, a published rate that is available in The Business Times. This benchmark interest rate moves in tandem with market conditions, thereby providing transparency to consumers. UOB CostPlus Home Loan also allows customers to choose their preferred benchmark interest rate from the three-month, six-month or nine-month SWAP Offer Rates*.

Mr Kevin Lam, Head of UOB Loans Division said, "The other unique feature of this package is that upon maturity of the benchmark interest rate tenor, homeowners are free to switch to a different benchmark interest rate or opt for another home loan package. Homeowners also have the flexibility to combine up to two benchmark interest rate tenors under UOB CostPlus Home Loan. Depending on their financial needs, we can also customise their loans to offer a combination of UOB CostPlus Home Loan and any of our standard home loan packages."

"All in, UOB CostPlus Home Loan is a cost of funds loan that is designed to give homeowners a new level of transparency and flexibility," added Mr Lam.

The details of the UOB CostPlus Home Loan are as follows:

* SWAP Offer Rate is the Singapore Interbank Offer Rate + market reserve costs.

For more information, customers can call our 24-hour customer service hotline at 1800 2222 121 or visit any UOB Group branch to speak to our Personal Bankers.

About United Overseas Bank

UOB is a leading bank in Singapore that provides a wide range of financial services through its global network of more than 500 offices in 18 countries and territories in Asia-Pacific, Western Europe and North America. It has banking subsidiaries in Singapore, Malaysia, Indonesia, Thailand and the Philippines.

UOB is focused on enhancing its leadership in the consumer market, and is today, the largest credit card-issuing bank in Singapore with a card base that has exceeded one million. The Bank also has the largest base of merchants in Singapore, both for consumer and commercial credit card acceptance. There are currently more than 20 co-brand cards in its stable, covering the retail sector, service providers and non-profit organisations.

	UOB Call Centre Phone: 1800 2222 121 (24-hour)

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