Previously known as “The Development Bank of Singapore Limited”, the bank assumed its present name in the year, 2003 as a way to portray the bank to be more regional. Today, the bank is present across 18 markets throughout Asia and having a network of over 250 bank branches, the bank strives to provide financial services and banking products tailored to the requirements of its customers. With its headquarters in Singapore, it has since captured operations in Southeast Asia, South Asia and Greater China. Initially set up in the year 1986 by the Government in Singapore, the bank’s primary objective was taking over the industrial financial activities from Singapore’s Economic Development Board. In 1998, DBS merged with POSB, increasing its customer base to more than four million, subsequently earning a dominant market share.
The HDB Home Loan offered by DBS allows you the freedom to finance your own home, be it a HDB resale flat or even if you are considering refinancing your current HDB loan. DBS offers a greater saving opportunity and advantages that brings you closer to living in your dream home.
Find below your savings for the initial 5 years with a DBS HDB Loan in comparison to the HDB Concessionary loan –
|Loan Amount||DBS HDB Loan Interest rate Savings at 1.98% per annum||DBS HDB Loan Interest rate Savings at 2.5% per annum|
|SGD 300,000||SGD 8,789||SGD 1,420|
|SGD 400,000||SGD 11,718||SGD 1,899|
|SGD 500,000||SGD 14,648||SGD 2,374|
The following individuals are eligible for applying for the DBS HDB Loan –
For the initial 5 years, your interest rate for your DBS HDB Loan will be lower than or be capped at 2.5% per annum. This will offer you stability and keep you protected during the higher interest rate periods under the floating interest rate structure.
Yes. You can visit the official DBS website and fill out the online application form. You will then hear from a Home Advise Specialist from DBS who will further help you out with the application process.
In order to be eligible for the DBS HDB Loan, you must apply for a minimum loan amount of SGD 100,000.
Yes. Whether you are an existing HDB Owner having a loan with the Housing Development Board, a bank or any other financial institution, you can still apply for the DBS HDB Loan.
No. DBS does not charge a prepayment fee when applying for the DBS HDB Loan.