• Home Loan BYTES FROM OUR KITCHEN

    The feeling of becoming a home owner is something that can never be forgotten. Owning is a house is a dream shared by millions of people around the world and people work very hard to save the money needed to purchase the house that they desire. If you are planning to buy a house of your own, you should know that your savings or income alone may not be enough to purchase the house that you want. Besides, it might also be difficult to ask your friends or relatives to offer you with the money that you need. Hence, the best option is to opt for a home loan from a reputed bank and get the required financial assistance. If you want to purchase an HDB flat in Singapore, you can opt for POSB HDB Loan and get the required financial assistance.

    Overview of POSB HDB Loan

    POSB is one of the top local banks in Singapore and has been active for decades. The bank offers a wide range of banking and financial products and services including credit cards, debit cards, home loans, personal loans etc. With an HDB Home Loan from POSB Bank, you can easily purchase the HDB flat that you like and then you can become a homeowner in the process. The home loans products from POSB are known to offer great features such as attractive interest rates, flexible repayment tenures, higher loan amount and so on. All of these features are also available with the HDB home loan offered by POSB.

    Why choose POSB HDB Loan?

    Your search for the ideal home loan will come to an end when you opt for the POSB HDB Loan. The Home Advice Specialist at POSB will assist you to get the best possible offers and save a lot of money by making the right choice. They will also help in ensuring that you can smoothly apply for the loan and that your loan application is processed at the earliest. Besides, you will not be required to submit a pile of documents when you apply for the loan.

    Features and Benefits of POSB HDB Loan

    • You will enjoy an attractive and guaranteed interest rate that will be lower than the Concessionary HDB Loan rate for a period of 5 years i.e. the initial 5 years.
    • You will not have to pay any fee, in case you decide to pay off the loan amount before the expiry of the loan tenure.
    • You will save a lot of money as your cost of borrowing will be lower due to low interest rate.
    • You will enjoy flexible loan tenures and will be able to pay off the loan at your convenience.

    POSB HDB Home Loan Eligibility

    • You can apply for POSB HDB Loan if you are:
    • The existing owner of an HDB flat or if you have a home loan with any bank/ financial institution or the Housing Development Board of Singapore.
    • A new HDB owner with completed flats.

    Note - The minimum loan amount offered will be S$100,000.

    Savings

    Here is an illustration of the amount of money that you can save in the first 5 years, when the interest rate for the loan will be lower than offered with Concessionary HDB Loan.

    Amount offered as a Loan Interest Saved with POSB HDB Home Loan at 1.98 percent per annum Interest Saved with POSB HDB Home Loan at 2.5 percent per annum
    S$300,000 S$8,789 S$1,420
    S$400,000 S$11,718 S$1,899
    S$500,000 S$14,648 S$2,374

    Note – At present, the HDB concessionary rate is at 2.6 percent per annum.

    Explore the Other HDB Home Loans Offered By Banks:

    Explore the Other Loans Offered By POSB Bank:

    Frequently Asked Questions (FAQs)

    1. How to Apply for POSB HDB Loan?
    2. You can apply for POSB HDB Loan either online on the official website of the bank or by visiting any of the branches of POSB.

    3. What is the minimum amount offered as a loan with POSB HDB Loan?
    4. The minimum loan amount offered is S$100,000.

    5. What is the interest rate offered with the loan for the first 5 years?
    6. For the first 5 years, the interest rates will be lower than or capped at 2.5 percent per annum.

    7. What is the fee charged for prepayment of the loan?
    8. There are no fees charged for prepayment of the POSB HDB Loan.

    9. I already have a home loan with another bank. Can I apply for POSB HDB Home Loan?
    10. Yes, you can still apply for this home loan offered by POSB even if you have a home loan with any other bank.

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