UOB Home Loan Review: Complete Rates and Fees Explained
United Overseas Bank (UOB) is one of Singapore's Big 3 banks and offers competitive home loan packages for both HDB and private properties.[1] Whether you're a first-time buyer, upgrading, or refinancing, understanding UOB's rates, fees, and features is essential to making an informed decision. This guide breaks down everything you need to know about UOB home loans to help you determine if it's the right fit for your financial situation.
Understanding UOB's Market Position
UOB has been a cornerstone of Singapore's financial system since 1935 and commands significant market share in the mortgage space.[1] The bank is known for fast approval processing, competitive rates, and unique features like the lowest valuation fees in Singapore.[1] With a strong digital platform and extensive branch network, UOB caters to borrowers seeking both convenience and personalized service.
At Homejourney, we believe transparency is key to building trust with property buyers and investors. That's why we've compiled this complete review—so you can confidently compare UOB's offerings with other major banks instantly on our Bank Rates page.
Current UOB Home Loan Rates (January 2026)
UOB offers both floating-rate and fixed-rate home loan packages. Here's what's currently available:
SORA-Based Floating Rate Package
UOB's primary floating-rate offering is tied to 3-Month Compounded SORA (Singapore Overnight Rate Average):[2][3][4]
- Year 1-2: 3M Compounded SORA + 0.70% p.a.
- Year 3: 3M Compounded SORA + 0.80% p.a.
- Year 4 onwards: 3M Compounded SORA + 1.00% p.a.
- Lock-in Period: 2 years
- Minimum Loan Size: S$250,000
This promotional rate applies to new direct-to-bank customers with limited availability.[2][3][4] The spread increases after Year 3, which is typical for floating-rate packages as the lock-in period expires.
Fixed Rate Options
For borrowers seeking rate certainty, UOB offers fixed-rate packages with the same tiered structure as the SORA package.[2][3] Contact UOB's Home Loan Specialists directly for current fixed-rate quotes, as these are customized based on loan amount and individual circumstances.
The chart below shows recent SORA trends to help you understand how rates have moved and what to expect:
As you can see from the chart, SORA rates have been relatively stable, making this an important time to lock in your rate. Use Homejourney's Bank Rates page to track live SORA updates and compare rates across all major banks in real-time.
UOB Home Loan Products Explained
UOB offers distinct products for different property types:
HDB Home Loan
For Housing and Development Board flats, UOB provides financing up to 75% of the property value or purchase price, whichever is lower.[3] The SORA promotional rates listed above apply to HDB purchases. Sign-up gifts range from S$500 to S$700 in Takashimaya vouchers depending on loan size.[2]
Private Home Loan
For private condominiums and landed properties, UOB also offers up to 75% financing.[3] Refinancing customers receive cash rebates (S$2,000–S$2,500) plus Takashimaya vouchers (S$500–S$1,000) depending on loan amount.[3] New purchase customers receive Takashimaya vouchers ranging from S$500–S$1,000 for loans of S$500,000 and above.[3]
UOB Home Loan Fees Breakdown
Understanding fees is critical to calculating your true borrowing cost. Here's what UOB charges:
Valuation Fee
UOB has the lowest valuation fee among Singapore banks—just S$150 plus GST (approximately S$161 total).[1] This applies to condominiums up to S$3 million valuation.[1] Landed properties may have different valuation fees, so confirm with the bank directly.
Legal Subsidy and Rebates
For refinancing, UOB offers:[1]
- Legal subsidy for loans under S$450,000
- Cash rebate for loans above S$450,000
These benefits help reduce your refinancing costs significantly compared to other banks.
Early Repayment Penalties
UOB offers a waiver of early repayment penalties for sale on selected packages—50% waiver on some products, and potentially 100% waiver on others depending on promotion and package type.[1] This is crucial if you plan to sell within the lock-in period. Always confirm the exact penalty waiver terms for your specific package.
Key Strengths of UOB Home Loans
Fast Approval Processing: UOB is known for quick turnaround times, especially for applicants with strong employment income and complete documentation.[1] Instant in-principle approval (IPA) is possible for qualified applicants.[1]
Lowest Valuation Fees: At just S$150 plus GST for condominiums, you'll save S$250–S$450 compared to other banks—meaningful savings on your upfront costs.[1]
Competitive Rates: UOB's SORA spreads are competitive, particularly in the first two years (0.70% spread).[2][3][4] For large loans (S$800,000+), fixed rates can be as low as 2.20%.[1]
Flexible Packages: The combination of SORA and fixed-rate options gives borrowers flexibility to match their risk tolerance and market outlook.
Online Promotions: UOB regularly runs direct-to-bank promotions with sign-up gifts and referral programs.[1]
Potential Drawbacks and Considerations
Spread Increases Over Time: Like most banks, UOB's SORA spread increases from 0.70% (Years 1-2) to 1.00% (Year 4+).[4] This means your monthly payment will increase after the lock-in period, even if SORA rates remain stable.
Limited Fixed-Rate Availability: Fixed-rate quotes require direct contact with UOB specialists, and availability may be limited.[2][3] This makes it harder to compare fixed rates upfront.
Valuation Fee Limitation: The S$150 valuation fee only applies to condominiums up to S$3 million.[1] Landed properties and higher-value properties will incur standard fees.
Conditional Penalty Waivers: Early repayment penalty waivers are offered on selected packages only and may be removed at the bank's discretion.[1] Not all packages include this benefit.
Eligibility Criteria for UOB Home Loans
To qualify for a UOB home loan, you must meet these basic requirements:[3]
- Age between 21 and 65 years old
- Singapore Citizen, Permanent Resident, or approved foreigner
- Stable employment income with complete documentation
- Acceptable credit profile
- Loan amount minimum of S$250,000
UOB uses the Total Debt Service Ratio (TDSR) framework to determine your maximum borrowing capacity. Most banks cap TDSR at 55%, meaning your total monthly debt obligations cannot exceed 55% of your gross monthly income.
Want to know exactly how much you can borrow? Use Homejourney's mortgage eligibility calculator on our Bank Rates page—it takes just 60 seconds and shows you your borrowing power across all major banks.
UOB vs. Other Major Banks
How does UOB stack up against DBS, OCBC, HSBC, and Standard Chartered? Here's a quick comparison:
| Feature | UOB | DBS | OCBC |
|---|---|---|---|
| Valuation Fee | S$150 (lowest) | Standard | Standard |
| SORA Spread (Yr 1-2) | 0.70% | Varies | Varies |
| Approval Speed | Fast (instant IPA) | Fast | Moderate |
| Penalty Waiver | 50-100% (selected) | Varies | Varies |
Rather than relying on our comparison, we recommend using Homejourney's Bank Rates page to instantly compare current rates, fees, and offers from UOB, DBS, OCBC, HSBC, Standard Chartered, Maybank, CIMB, and other major lenders. This ensures you're always seeing the most up-to-date information.
How to Apply for a UOB Home Loan
Step 1: Assess Your Eligibility
Calculate your borrowing power using income, existing debt, and TDSR limits. Homejourney's eligibility calculator automates this process.
Step 2: Gather Required Documents
Prepare payslips (last 3 months), employment letter, income tax returns (last 2 years), bank statements, and property documents.
Step 3: Apply Online or Visit a Branch
UOB offers both direct-to-bank online applications and in-branch applications. Online applications often qualify for promotional rates and faster processing.
Step 4: Receive In-Principle Approval (IPA)
For qualified applicants, UOB can issue instant IPA, valid for 3 months.
Step 5: Property Valuation
UOB arranges the property valuation (remember: just S$150 for condos).
Step 6: Final Approval and Disbursement
Once conditions are satisfied, UOB issues final approval and disburses funds to your lawyer.
Pro Tip: Apply through Homejourney's Bank Rates page using Singpass integration. This auto-fills your application, speeds up processing, and lets you submit to multiple banks simultaneously—letting banks compete for your business and ensuring you get the best offer.
Who Should Choose UOB Home Loans?
UOB is an excellent choice if you:
- Value fast approval and quick turnaround times
- Are buying a condominium (lowest valuation fees)
- Want competitive SORA spreads in the first two years
- Are refinancing and want legal subsidy or cash rebates
- Prefer a Big 3 bank with strong brand stability
- Want flexible rate options (SORA and fixed rates)
UOB may not be ideal if you're buying a landed property (standard valuation fees apply) or if you prioritize the absolute lowest rates across all lock-in periods—other banks may offer better long-term spreads.
Current Market Context: Interest Rates in 2026
As of January 2026, Singapore interest rates are expected to bottom out in Q2 2026, according to UOB's own forecasts.[8] This means rates may stabilize or begin rising later in the year. If you're considering a home loan, now is a strategic time to lock in rates before potential increases. Monitor SORA trends on Homejourney's Bank Rates page to time your application optimally.
