• CIMB HDB Home Loan

    Home Loan BYTES FROM OUR KITCHEN

    Overview of CIMB Bank

    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.

    CIMB HDB Home Loan

    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.

    Features and Benefits of CIMB Bank HDB Loan

    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.

    Fees and Charges

    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
    • PLR – Prime Lending Rate

    Eligibility Criteria for CIMB HDB Home Loan

    • Age Eligibility – The applicant must at least be 21 years of age or above.
    • Income Eligibility – The applicant must earn more than SGD 18,000 per year.
    • Loan Amount – The minimum amount for the HDB Home Loan is SGD 100,000

    Documentation Required for CIMB HDB Home Loan

    • A photocopy of the NRIC OR Passport (whichever is applicable) for all the applicants and the owners.
    • An option for Sale or Purchase and the Purchase agreement for a new purchase
    • In case of refinancing, the applicant must provide the latest 12 months Loan Statements from the current lender or financial institution.
    • The latest CPF Withdrawal Statement id required for the existing property to be sold or refinanced.
    • The applicant must provide the Evidence of Sale of the existing property if applicable.
    • Tenancy Agreement if applicable.
    • Income documents –
      1. For Salaried Employees – Latest CPF statement and Tax Assessment
      2. For Self-Employed Employees – Income Tax Assessment for the latest 2 years.

    Explore the Other HDB Home Loans Offered By Banks:

    Explore the Other Loans Offered By CIMB Bank:

    CIMB HDB Home Loan - FAQs

    1. What is the interest rate structure offered by CIMB for the HDB Home Loan?
    2. 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.

    3. What is the margin of financing provided by CIMB for the HDB Home Loan?
    4. 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).

    5. What is the minimum loan amount that the CIMB HDB Home Loan provides to its customers?
    6. 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.

    7. What is the loan tenure that is provided by the CIMB HDB Home Loan?
    8. 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.

    9. If I am a self-employed individual, what are the documents that I will need to provide to apply for the CIMB HDB Home Loan?
    10. 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.

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