Extending support to ease your financial cashflow with a reduced monthly instalment plan on your property loan

FOR SINGAPOREAN, PR AND FOREIGNER

How can I be eligible for the relief:

  • I have at least 25% reduction in monthly income or loss of employment after 1 February 2020;
  • I have an existing UOB property loan for a residential or commercial property located in Singapore;
  • My mortgage repayments are not more than 90 days past due.

Unable to repay the loan with the available support?
Email us at loanpaymentrelief@uobgroup.com and we will get in touch with you to review your available repayment options or to restructure your property loan.

Submit one application form per property. The plan will apply to all your loan accounts in respect of the same property (whether held singly or jointly with other person(s)). The property must be a residential or commercial property located in Singapore. Fill up your details below and we will get back to you within 14 working days.

Documents you need to prepare before starting this application:

For Salaried Employees:

  • Upload the latest CPF statement, computerised payslips or bank statement showing at least 25% drop in your income after 1 Feb 2020.

For Self-employed Persons:

  • Upload the latest copy of your Business Certificate from ACRA or
  • Upload latest CPF statement, or computerised payslips or bank statement showing at least 25% drop in your income after 1 Feb 2020.

Provide us you passport number that was previously provided to the Bank. For Malaysians, enter your NRIC instead of passport number.

Passport expiry date is required only if your previous passport number that you have provided to the bank has expired or is expiring in the next 6 months.

Provide us with a mobile number that is registered with the Bank.

 

I am applying for relief on my/our existing loan for the following property:

If you are requesting relief for multiple properties, you have to submit one application form per property.

-

Select the number of borrowers that has jointly taken the existing UOB property loan.

 

For the following reason:

Provide the combined income (original) of all borrowers under the property loan. 

Provide the combined income (post reduction in income or loss of employment after 1 February 2020) of all borrowers under the property loan. 

Supports files: .jpg .png .pdf with a max filesize of 3MB.

    For Salaried:

    • Upload the latest CPF statement, computerised payslips or bank statement showing at least 25% drop in your income after 1 Feb 2020.

    For Housewife/ Retiree/ Unemployed:

    • Upload the latest CPF statement with last 12 month information.
    Supports files: .jpg .png .pdf with a max filesize of 3MB.

      For Self-employed: 

      • Upload the latest copy of your Business Certificate from ACRA or
      • Upload latest CPF statement, or computerised payslips or bank statement showing at least 25% drop in your income after 1 Feb 2020.

       

      Provide the employment details and supporting income document for the joint borrower(s):

      Information for First Joint Borrower

      Supports files: .jpg .png .pdf with a max filesize of 3MB.

        For Salaried:

        • Upload the latest CPF statement, computerised payslips or bank statement showing at least 25% drop in your income after 1 Feb 2020.

        For Housewife/ Retiree/ Unemployed:

        • Upload the latest CPF statement with last 12 month information.
        Supports files: .jpg .png .pdf with a max filesize of 3MB.

          For Self-employed: 

          • Upload the latest copy of your Business Certificate from ACRA or
          • Upload latest CPF statement, or computerised payslips or bank statement showing at least 25% drop in your income after 1 Feb 2020.

          Information for Second Joint Borrower

          Supports files: .jpg .png .pdf with a max filesize of 3MB.

            For Salaried:

            • Upload the latest CPF statement, computerised payslips or bank statement showing at least 25% drop in your income after 1 Feb 2020.

            For Housewife/ Retiree/ Unemployed:

            • Upload the latest CPF statement with last 12 month information.
            Supports files: .jpg .png .pdf with a max filesize of 3MB.

              For Self-employed: 

              • Upload the latest copy of your Business Certificate from ACRA or
              • Upload latest CPF statement, or computerised payslips or bank statement showing at least 25% drop in your income after 1 Feb 2020.

              Information for Third Joint Borrower

              Supports files: .jpg .png .pdf with a max filesize of 3MB.

                For Salaried:

                • Upload the latest CPF statement, computerised payslips or bank statement showing at least 25% drop in your income after 1 Feb 2020.

                For Housewife/ Retiree/ Unemployed:

                • Upload the latest CPF statement with last 12 month information.
                Supports files: .jpg .png .pdf with a max filesize of 3MB.

                  For Self-employed: 

                  • Upload the latest copy of your Business Certificate from ACRA or
                  • Upload latest CPF statement, or computerised payslips or bank statement showing at least 25% drop in your income after 1 Feb 2020.

                  Information for Fourth Joint Borrower

                  Supports files: .jpg .png .pdf with a max filesize of 3MB.

                    For Salaried:

                    • Upload the latest CPF statement, computerised payslips or bank statement showing at least 25% drop in your income after 1 Feb 2020.

                    For Housewife/ Retiree/ Unemployed:

                    • Upload the latest CPF statement with last 12 month information.
                    Supports files: .jpg .png .pdf with a max filesize of 3MB.

                      For Self-employed: 

                      • Upload the latest copy of your Business Certificate from ACRA or
                      • Upload latest CPF statement, or computerised payslips or bank statement showing at least 25% drop in your income after 1 Feb 2020.
                      • I represent and warrant that all information and documents submitted to the Bank in connection with this application are true, accurate and complete in all respects.
                      • I hereby authorise and give the Bank my irrevocable consent to make such inquiries and conduct all such checks on me (including, but not limited to, inquiries and checks with any credit bureau recognised by the Monetary Authority of Singapore) and obtain from and/or verify with any source and/or disclose or release any information relating to me, this application, or any of my accounts and/or facilities with the Bank, to any party the Bank may consider appropriate, including but not limited to any of the Bank’s related companies, advisors, credit bureaus, credit reference agents, insurance providers, Housing Development Board (HDB), Central Provident Fund (CPF) Board or governmental authorities/agencies.

                      I acknowledge and agree that:

                      1. my application is subject to approval by the Bank and any applicable terms and conditions relating to my application, which will be set out in a letter issued by the Bank to me, and the Bank reserves the right to decline my application without giving any reason or notice whatsoever;
                      2. upon being notified of the Bank’s approval via the said letter, I will be deemed as having agreed to and accepted the terms and conditions relating to my application set out in the letter, unless I contact the Bank within seven (7) days of the date of the letter to withdraw my application;
                      3. subject to the Bank’s approval and unless otherwise    requested by me and agreed to by the Bank in writing:
                        • my monthly repayment of the principal sum and interest under my existing loan will be reduced to 60% of my monthly instalment for a period of up to 9 months but not exceeding 31 December 2021, commencing from a date to be notified by the Bank to me (“Reduced Repayment Period”). The reduced monthly instalment will cover repayment of both interest and partial principal sum in respect of my loan. If the reduced monthly instalment is insufficient to cover the interest, my monthly repayment will be revised to a monthly interest-only repayment ;
                        • if the mortgaged property in respect of my existing loan is a building under construction, my monthly repayment will be revised to a monthly interest-only repayment;
                        • my loan arrears, if any, will be capitalised into the outstanding principal amount, and my monthly repayment will be recomputed based on the capitalised outstanding principal amount and amortized over the remaining loan tenor. I further acknowledge and agree that while loan capitalisation can ease my return to making monthly instalments, it comes with higher interest costs compared to paying off the loan arrears in a lump sum, and that I will have to contact the Bank if I wish to opt out of such capitalisation of my loan arrears (if any); and
                        • after the Reduced Repayment Period, my monthly loan instalment will be recomputed based on the outstanding principal amount and fully amortized over the remaining loan tenor, subject to any adjustments, for example, if there are rate changes or changes in the principal amount during the Reduced Repayment Period, and I acknowledge that the revised instalment amount could be higher than what is stated by the Bank;
                      4. all other terms and conditions relating to my existing loan with the Bank shall remain unchanged and shall continue to be binding on me;
                      5. the risk of misunderstandings, errors, unauthorised instructions, fraud, forgery, and the risk of operational, equipment, and network delays, failures, faults or errors howsoever occurring in the course of the transmission of documents and instructions are entirely mine, and the Bank will not be responsible or liable to me for any loss, liability or expense that may result from any of the foregoing;
                      6. the Bank is authorised (without being obliged) to record any telephone conversation made or purportedly made with me whether with or without the use of a tone warning device and the Bank may use such recordings and/or transcripts as evidence in any dispute;
                      7. the Bank shall not be obliged to maintain such recordings and transcripts or keep or make available to me any such copies thereof; and
                      8. where there are two or more borrowers in respect of my existing loan with the Bank, all declarations, terms and conditions, and obligations relating to my application shall be deemed to be made by and binding on and applicable to all of the borrowers jointly and each of them severally, and the Bank will not be responsible or liable for any loss, damage, liability or expense suffered by me or any of the borrowers which may arise out of or in connection with my application.

                       

                       

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