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Buying a property can be one of the best investment decisions that you will ever make as the value of a property increases with time in most cases. Except for a few markets where the real estate market is very volatile, the prices of properties in most developed and developing countries are always on the rise. Hence, purchasing properties in these overseas markets can help you to expand your investment portfolio and also build your financial assets. These days, there are different types of loan products that are offered by banks in Singapore and they can help you in purchasing properties in various overseas locations.
CIMB is one of the top banks in Asia and it has a presence in countries around the globe. Based in Malaysia, the bank has established itself as one of the leading players in the world of banking and finance in Singapore. CIMB offers a wide range of products that include personal loans, home loans, credit cards etc. CIMB Home Loans are very popular with customers in the island and CIMB property loans are a type of home loan offered by the bank to people in Singapore. You will enjoy a wide range of advantageous features when you opt for the property loans offered by the bank.
If you want to purchase properties in overseas locations and expand your investment portfolio, you will certainly benefit from applying for this loan products offered by CIMB Bank. You will enjoy higher loan amounts, attractive interest rates, flexible features and a range of other benefits. You can fulfil your dreams and also make sure that you invest your money wisely when you choose CIMB Overseas Property Loans.
CIMB Bank offers the following overseas property loans in Singapore:
Income Documents:
Type of Fee | Amount Charged |
Fee for rescheduling the date for full redemption of the loan | S$200 |
Fire Insurance charges (charged by the insurer) | S$200 per year per annum |
Request of loan statement | Current Year – no fee Previous years – S$50 per statement |
Getting custody of the title deed when the loan in fully repaid | S$500 per year per annum |
Late payment fee | Minimum S$30 or 5 percent + prime lending rate of the bank. |
The loan amount is offered only in Singapore Dollars irrespective of the type of overseas property loan you opt for.
The applicant should have an annual income of minimum S$60,000 for London properties, S$24,000 for Malaysian properties and S$60,000 for Australian properties. In case of joint applications, at least one of the applicant should meet the minimum income requirement.
You can avail up to 80 percent of the value of the property as a loan for Malaysian and London properties and up to 70 percent of the value of the property as a loan for Australian properties.
You should be aged 21 and above to apply for the CIMB London Property Loan.
The minimum loan amount offered with this CIMB home loan product is of S$200,000 for Malaysian properties and S$300,000 for London and Australian properties.
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