CIMB Bank is one of the largest and internationally acclaimed Islamic Banks in the world. It has been providing world class financial solutions and banking products since its inception in the year 1924 under the name Bian Chiang Bank in Malaysia. In the year 1986, it started operations under its new name Commerce International Merchant Bankers Bhd (CIMB). Currently, CIMB is prevalent in 17 different countries and is also the fifth largest bank in the Association of Southeast Asian Nations (ASEAN). It stands tall amongst the largest investment banks as well as Islamic Banks all across the world. It has employed over 43,000 employees from all over the world to provide top notch customer service. CIMB Bank offers products such as Home Loans, Personal Loans, Credit Cards, etc in Singapore and many other countries.
The CIMB HDB Home Loan can be a perfect solution for your hosing needs and requirements be it financing a resale flat or Built- To- Order flat. CIMB offers attractive interest rate packages with plenty of choices to choose from whether you want to finance or re-finance your property. It also offers a high margin for the financing with large Quantum of Financing (QOF) options so your personal investment is minimal. It even offers loan tenures that are flexible enough to meet different financial needs of the customers.
Low Rate of Interest
CIMB offers both, fixed interest as well as an interest rate determined by SIBOR (Singapore Interbank Offer Rate) packages. You can choose either for financing or re-financing of your property.
High Financing Margin
CIMB offers a significantly high margin of financing with up to 80% QOF if you opt for the CIMB HDB Home Loan. This will help you keep your initial outlays to a bare minimum.
Flexible Loan Terms and Tenures
You can choose a loan tenure that meets your specific financial needs with generous loan tenure packages offered by CIMB. You can choose a loan tenure of up to 30 years OR up to an age of 70 years, depending on which is earlier.
Find below the fees and charges for the CIMB HDB Home Loan –
|Request for Loan Statement for the Current Calendar year||NIL|
|Request for Loan Statement for the Previous Calendar year||SGD 50 per statement|
|Late Payments on your monthly installment||PLR + 5% (minimum amount is SGD 30)|
|Fully Repaid Loans OR Title Deed Custody||SGD 500 each year|
|Fire Insurance – Change of Insurer||SGD 200 each year|
|When you reschedule the Intended Date of Full Redemption||SGD 200|
CIMB offers both, a Fixed Rate as well as an interest rate determined by SIBOR (Singapore Interbank Offer Rate), so you can choose a package that suits your financial needs.
When you opt for the CIMB HDB Home Loan, you can avail a significantly high margin of financing with up to 80% QOF (Quantum of Financing).
The minimum loan amount to qualify for the CIMB HDB Home Loan is SGD 100,000. The loan amount that you qualify for is subject to the bank’s discretion, however, SGD 100,000 is the minimum amount that you need to apply for to be eligible for the CIMB HDB Home Loan.
CIMB offers flexible loan tenures for the CIMB HDB Home Loan. You can choose a loan tenure of up to 30 years OR up to an age of 70 years, depending on which is earlier.
To qualify for the CIMB HDB Home Loan as a self-employed applicant, you will need to provide your Income Tax Assessment for the latest 2 years.