Plus, receive a cash gift of S$888 when you share this deal with your friends
Ever since you have your own home, do you find that you’ve been spending more and saving less?
If this is how you are feeling, let us share with you one way to save some money.
You currently pay 2.60% p.a. with HDB concessionary loan. By switching to POSB home loan, you could save up to 1% p.a. in interest. With POSB home loan, your interest rate will be:
|Interest rate||Spread||Reference rate|
|1.60% p.a.||+1.35% p.a.||FHR9|
(Currently at 0.25%)
FHR9 stands for Fixed Deposits Home Loan rate. It means that your home loan rate is pegged to our Singapore Dollars 9 months fixed deposit interest rate for amounts within S$1,000 to S$9,999.
Most of you repay your home loan using CPF funds. Do you know that this 1% savings could translate to much more?
Every dollar you save will enjoy the power of compounding at 2.50% p.a. in your CPF Ordinary Account. This is a way for your savings to grow, even faster than you could imagine.
Here’s how much you could save:
|Interest savings you could enjoy|
|Loan amount||You currently pay:||With POSB home loan,|
you could be paying:
|Over a year1||Over 10 years2||Over 20 years2|
1 Interest savings are estimated based on 1.60% p.a. interest rate for a 25-year loan, compared to HDB concessionary loan rate of 2.60% p.a.
2 Interest savings is compounded at 2.5% p.a. (CPF Ordinary Account rate) in your CPF Ordinary Account)
Click here to calculate your savings when you switch to a POSB Home Loan.
Plus, receive S$888 cash gift when you switch your home loan to us, and share your experience on this #save1percent deal with your friends on Facebook or Instagram
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