Which Bank's Housing Loan Is Good Now?

[yenfong 0]

Which Bank's Housing Loan is good now?

[tim_chenie 0]

Which Bank's Housing Loan is good now?

Hi yenfong,

You can visit this website where they have comparisons of almost all the house loans avaliable:

AskDrMoney HomePage

HDB House Loan Page

Hope this helps.

[prelude4 0]

Which Bank's Housing Loan is good now?

Recently been researching various banks' interest rate for my home loan. i tink maybank is the

cheapest comparing variable rates with 2 yr lock-in. its at 3.18% for 1st year. Pls re-finance on every

3rd yr. 2nd best will be OCBC's rate at 3.25%.

if u looking for fixed-rates, POSB's HomeIdeal package will be the quite competitive at 3.5%.

Im talking about Private Housing loan. For HDB housing, its more or less the same. So u may want to just narrow ur search to just this 3 banks.

[Spikey 0]

Recently been researching various banks' interest rate for my home loan. i tink maybank is the

cheapest comparing variable rates with 2 yr lock-in. its at 3.18% for 1st year. Pls re-finance on every

3rd yr. 2nd best will be OCBC's rate at 3.25%.

if u looking for fixed-rates, POSB's HomeIdeal package will be the quite competitive at 3.5%.

Im talking about Private Housing loan. For HDB housing, its more or less the same. So u may want to just narrow ur search to just this 3 banks.

a lower interest rate may not always be better - check on how much $ goes into repaying the principal or goes to interest payment.

[nemofc 0]

Recently been researching various banks' interest rate for my home loan. i tink maybank is the

cheapest comparing variable rates with 2 yr lock-in. its at 3.18% for 1st year. Pls re-finance on every

3rd yr. 2nd best will be OCBC's rate at 3.25%.

if u looking for fixed-rates, POSB's HomeIdeal package will be the quite competitive at 3.5%.

Im talking about Private Housing loan. For HDB housing, its more or less the same. So u may want to just narrow ur search to just this 3 banks.

if you unable to get HDB loan, you will have to opt for bank loan.

BUT HDB loan is better than Private housing loan.

[l_club23 0]

There's some loan rate linked to SIBOR or something by StanChart now, looks pretty good

[yenfong 0]

Hi yenfong,

You can visit this website where they have comparisons of almost all the house loans avaliable:

AskDrMoney HomePage

HDB House Loan Page

Hope this helps.

Thanks

[Phantom 1]

There's some loan rate linked to SIBOR or something by StanChart now, looks pretty good

Thats right, what they do if i'm not wrong is to peg to SIBOR + an additonal interest .. e.g. 0.5%

therefore if SIBOR = 2.3% .. then its 2.8%

[l_club23 0]

Thats right, what they do if i'm not wrong is to peg to SIBOR + an additonal interest .. e.g. 0.5%

therefore if SIBOR = 2.3% .. then its 2.8%

Pegged to SIBOR is good... avoid transparency issues...

[yenfong 0]

Thats right, what they do if i'm not wrong is to peg to SIBOR + an additonal interest .. e.g. 0.5%

therefore if SIBOR = 2.3% .. then its 2.8%

What is the sibor rate now?

[Phantom 1]

Pegged to SIBOR is good... avoid transparency issues...

lol.. every bank wants to earn more one lah.. no choice.

as with any other business..

What is the sibor rate now?

Overnight Interbank 2.25%

1-Month Interbank 2.38%

3-Month Interbank 2.50%

6-Month Interbank 2.56%

Its never possible to get interbank rates. Banks also need to survive.

Edited July 12, 2007 by Phantom

[l_club23 0]

lol.. every bank wants to earn more one lah.. no choice.

as with any other business..

Overnight Interbank 2.25%

1-Month Interbank 2.38%

3-Month Interbank 2.50%

6-Month Interbank 2.56%

Its never possible to get interbank rates. Banks also need to survive.

At least like this the bank can't increase the rate as and when they feel like it... like their multiple board rates...

Edited July 13, 2007 by l_club23

[prelude4 0]

ask the bank to print out the loan schedule for u to see..so u noe how much u paying.

Does SIBOR rate also fluctuates frequently? tats wat the loan officer told me.

its my 1st time taking out loan so i dun dare to commit too early b4 finding out, and im afraid tat after u took out the loan all banks will adjust their rate higher after few months.

will u pick foreign banks(eg stanchart/maybank) over local ones? it seems like their rates r abit better

on the surface..

[Phantom 1]

ask the bank to print out the loan schedule for u to see..so u noe how much u paying.

Does SIBOR rate also fluctuates frequently? tats wat the loan officer told me.

its my 1st time taking out loan so i dun dare to commit too early b4 finding out, and im afraid tat after u took out the loan all banks will adjust their rate higher after few months.

will u pick foreign banks(eg stanchart/maybank) over local ones? it seems like their rates r abit better

on the surface..

SIBOR fluctuates daily..

but you must check with the bank on the exact terms and conditions.

rates have come down actually since feb this year.. so i wouldn't worry so much, get a fixed package if your really worried.

[greentea 0]

lol.. every bank wants to earn more one lah.. no choice.

as with any other business..

Overnight Interbank 2.25%

1-Month Interbank 2.38%

3-Month Interbank 2.50%

6-Month Interbank 2.56%

Its never possible to get interbank rates. Banks also need to survive.

hi,

may i know what is interbank? never heard of such loan before? and what is "Pegged to SIBOR"?

care to explain.