Seeking Advice On Either To Go With Bank Loan Or Hdb Loan

[Guest David Lim]

Dear all,

Recently i had made a deposit for a resales flat.

Am considering whether to take up bank loan or HDB loan.

Currently Dbs is offering fixed rate of 1.88% for the first 5 years and for HDB is 2.6% fixed throughout the loan tenor.

Can any loan specialist advice me on this?

Thanks in advance.

[VeryBigD 0]

I am not a loan specalist but this decision probably will hinge on your personal financial situation.

What loan tenor are you looking at ?

After the fixed IR period would you be able to pay down more if the IR jumps high ? Calculate what is the highest % rate you can tahan payment. See how much leeway you got. Are you risk averse ?

[bepgof 20]

Dear all,

Recently i had made a deposit for a resales flat.

Am considering whether to take up bank loan or HDB loan.

Currently Dbs is offering fixed rate of 1.88% for the first 5 years and for HDB is 2.6% fixed throughout the loan tenor.

Can any loan specialist advice me on this?

Thanks in advance.

Simply need a PMT spreadsheet to make decision:

Say 400k/20yr.

1.88%

2000.88(per month), 627(interest), 1374(principal)

2.6%

2139.15(per month), 866.7(interest), 1272.5(principle)