Pay lower interest and get a Dyson V8 Fluffy Pro Cord-free vacuum!
Plus, you could now enjoy a choice between a floating or fixed interest rate.
*The current FHR9 is 0.250%p.a. All rates are quoted on a per annum basis.
Puzzled over floating or fixed interest rate? Click to find out the pros and cons.
If your loan is with HDB, you are paying 2.60% p.a. interest. By switching to us, here’s how much you could be saving:
|Your monthly repayment|
|Loan amount||At 2.60% p.a.||After 1% interest savings|
|$123 a month/$1,476 a year!|
If you repay your home loan using CPF funds, you will be saving much more. Every dollar you save enjoys the power of compounding at 2.50% p.a. in your CPF Ordinary Account, allowing your money in CPF Ordinary Account to grow faster:
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.
FHR9 stands for Fixed Deposits Home Loan rate. It means that your home loan rate is pegged to our Singapore Dollar 9 months fixed deposit interest rate for amounts within S$1,000 to S$9,999.
Compared to SIBOR/SOR, fixed deposit interest rates are less volatile and do not change as frequently. With SIBOR/SOR volatility, your monthly repayment amount could change frequently, thus affecting your monthly installment.
If you prepay your home loan during the lock-in period, there will be a fee of 1.5% of the total amount prepaid. So, it is important to choose the right fixed rate period.
If you plan to sell your flat in the next 3 years, you should select a 2 or 3-year fixed rate package instead of 4-year fixed rate package. 1.5% fee of outstanding loan amount will be incurred if you sell off your flat and have to prepay your loan within the fixed-rate period.
Terms and Conditions
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