• DBS HDB Home Loan

    Home Loan BYTES FROM OUR KITCHEN

    DBS HDB Home Loan

    Overview of DBS Bank

    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.

    Why to choose DBS HDB Home Loan?

    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.

    DBS HDB Home Loan Features and Benefits

    • The interest rate provided by DBS is lower than or capped at the current CPF OA (Ordinary Account) rate at 2.5% per annum for the initial 5 years.
    • DBS HDB Loan guarantees that the interest rate that you will receive for the initial 5 years is lower than the interest rate of HDB Concessionary loan by at least a 0.1%.
    • There is no prepayment fee charged for the DBS HDB Loan.
    • You can use the Home Loan Calculators by DBS Bank to find out the rates that are comfortable for you.

    Interest Rates

    • The interest rates that you will receive at 2.5% or lower for the initial 5 years will benefit you by enjoying greater stability and you will also be protected during the rise in the interest rate structure under the floating rate system.

    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

    Note:

    1. The values mentioned in the table above are for illustrative purposes only.
    2. The above values have been computed based on a loan with a 25 year tenure.
    3. The above comparison to the HDB Concessionary loan is made against the interest rate of 2.6% per annum.

    Eligibility Criteria for the DBS HDB Loan

    The following individuals are eligible for applying for the DBS HDB Loan –

    • HDB Owners who have an existing home loan a financial institution/ bank or with the Housing Development Board.
    • New HDB Owners who have a completed flat.
    • HDB Owners must apply for a minimum loan of SGD 100,000.

    Applying for the DBS HDB Loan

    • You can fill the DBS HDB Loan online application form available on the DBS official website and a Home Advise Specialist from DBS will contact you to help out with the application process.
    • You can contact DBS Bank on their official contact number within the business hours and days for assistance with the loan application and also for any further information on the same.
    • You can visit your nearest DBS Bank and apply directly for the DBS HDB Loan.

    Explore the Other HDB Home Loans Offered By Banks:

    Explore the Other Loans Offered By DBS Bank:

    DBS HDB Loan - FAQs

    1. What is the promotional interest rate offered for the HDB Loan by DBS Bank?
    2. 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.

    3. Can I apply for the DBS HDB Loan online?
    4. 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.

    5. What is the minimum loan amount offered under the DBS HDB Loan?
    6. In order to be eligible for the DBS HDB Loan, you must apply for a minimum loan amount of SGD 100,000.

    7. I am a HDB Owner who already has a loan with the Housing Development Board, can I still apply for the DBS HDB Loan?
    8. 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.

    9. Is there a prepayment fee when I apply for the DBS HDB Loan?
    10. No. DBS does not charge a prepayment fee when applying for the DBS HDB Loan.

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