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    CIMB Private Property Loan

    CIMB is among the leading banks in the world, offering top notch financial solutions to individuals and businesses alike. It has garnered international recognition for being one of the largest Islamic Banks. It is also one of the largest investments banks across Asia. It was initially established as Bian Chiang Bank in the year 1924 in Malaysia. The bank assumed its current name in the year 1986. CIMB is among the top 5 largest banks in Association of Southeast Asian Nations, commonly referred to as ASEAN. The bank has employed over 43, 000 employees across its various branches and subsidiaries in the world. Towards the end of June, 2015, the total assets of the bank were worth RM 438.3 billion. CIMB provides an array of financial services and banking products to its vast customer base. Some of the leading products of the bank includes deposits, credit cards, various loans, investments, insurance and credit facilities among others. The services of the bank include Internet Banking, Transaction Banking and Remittance.

    CIMB Private Property Loan

    Whether you have plans to buy a new dream home, refinance your existing mortgage or you simply want to unlock the equity available on your property, CIMB can help you in fulfilling all of the above desires with the CIMB Private Property Loan that you can avail at attractive interest rates and flexible refinancing that will help uplift your lifestyle further.

    Features and Benefits of the CIMB Private Property Loan

    • Attractive and Low Interest Rate Packages
    • You have the option to choose from either a Fixed Rate package or a Singapore Interbank Offer Rate package (SIBOR). Using the CIMB Private Property Loan at low interest rates, you can now conveniently finance or refinance your property.

    • High Margin of Financing
    • CIMB provides a very high margin of financing of up to 80% of QOF (Quantum of Financing) on the CIMB Private Property Loan. This percentage of financing offered will help you in keeping your initial outlays to a minimum.

    • Flexible Loan Tenures
    • CIMB offers extremely generous loan tenures that will suit the financial needs of every customer. You have the option to choose a loan tenure of up to 35 years or up to the age of 70 years, depending on whichever is earlier.

    Fees and Charges for the CIMB Private Property Loan

    Item/ Product Charge
    Reschedule of the Intended Date of Full Redemption SGD 200
    Fire Insurance – Change of Insurer SGD 200 for each year
    Request for Loan Statement – For each statement
    • Present Calendar Year – NIL
    • Previous Calendar Year – SGD 50
    Fully Repaid Loans – Custody of Title Deed SGD 500 for each year
    Late Payment Charges for Monthly Instalments
    • PLR (Prime Lending Rate) + 5%
    • A minimum amount of SGD 30 will be charged

    Eligibility Criteria for the CIMB Private Property Loan

    • Minimum Age Criterion – The applicant must be at least 21 years of age to apply for the CIMB Private Property Loan.
    • Minimum Income Criterion – Any of the applicants should earn an income more than SGD 24, 000 per annum.
    • Minimum Loan Amount Criterion – The minimum loan amount for the CIMB Private Property Loan is SGD 200, 000.
    • Self - Employment Criterion – Self – employed applicants applying for this loan must be in their present business for a minimum of 2 years.

    Documentation Requirement for the CIMB Private Property Loan

    • All applicants and owners must submit a photocopy of their NRIC/ Passport.
    • If the applicant is purchasing a new property, the Sale & Purchase Agreement or the Option to Purchase Agreement must be submitted.
    • If the applicant is refinancing their existing mortgage, they will need to submit a loan statement issued by their existing bank or financial institution.
    • The evidence of the Sale of Existing Property must be submitted by the applicant if applicable.
    • A Tenancy Agreement must be submitted by the applicant if applicable.
    • Income Documents to be submitted by Salaried Employees –
      1. The applicant’s CPF Statement.
      2. The applicant’s latest Tax Assessment document.
    • Income Documents to be submitted by Self – Employed applicants –
      1. The applicant’s latest 2 years latest Tax Assessment document.

    Application Process for the CIMB Private Property Loan

    • You can contact CIMB via telephone by calling on their Personal Banking Hotline that is available on all days (Mondays to Sundays) between 9 AM and 9 PM. The Personal Banking Hotline number is available on the official CIMB Singapore website.
    • You can email CIMB on their email address available on the official CIMB Singapore website and the bank will respond to you within 1 business day.
    • You can visit your nearest CIMB bank branch and apply for the CIMB Private Property Loan directly in person.

    Explore the Other Loans Offered By CIMB Bank:

    Frequently Asked Questions

    1. On what properties can I apply for the CIMB Private Property Loan?
    2. You can apply for a CIMB Private Property Loan under the following scenarios –

      • When you want to purchase a new house
      • When you want to refinance the current mortgage on your property
      • When you want to unlock the equity available on your property
    3. What are the different types of interest rate structures offered by the CIMB Private Property Loan?
    4. CIMB offers attractive and low interest rate packages for the CIMB Private Property Loan that suit the financial needs of every customer. You have the option of choosing from packages that are either based on Fixed Rate or SIBOR - Singapore Interbank Offer Rate. These packages offered make it extremely convenient for you to finance or re-finance your property.

    5. What is the maximum financing offered by the CIMB Private Property Loan?
    6. CIMB offers its customers a high margin of financing for the CIMB Private Property Loan. CIMB provides financing of up to 80% of QOF (Quantum of Financing). This percentage of financing offered by the bank will help you in keeping your initial outlays to a minimum.

    7. What are the Loan Tenures offered by the CIMB Private Property Loan?
    8. CIMB offers extremely flexible loan tenures that will suit the financial needs of every customer. You can choose a loan tenure of up to 35 years or up to the age of 70 years, depending on whichever is earlier.

    9. Is there a minimum loan amount criterion to apply for the CIMB Private Property Loan?
    10. Yes. In order to be eligible to apply for the CIMB Private Property Loan, you must apply for a minimum loan amount of SGD 200, 000 without which your loan cannot be approved.

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