• RHB Commercial Property Loan

    Home Loan BYTES FROM OUR KITCHEN

    Overview of RHB Bank

    RHB was established in Singapore as UMBC in the year 1961. In 2011, it celebrated its 50th anniversary. The experience the bank has achieved in the financial sector is through strategic mergers and never ending expansion. The bank assumed its present name RHB Bank Berhad Singapore or RHBS in the year 1999. Its vast experience has helped the bank to cater to the financial needs of both, individuals as well as corporations to fulfill all their business goals and opportunities. RHBS functions as a fully licensed bank striving to providing services including savings, fixed deposits, provision of loans such as Home Loan among others, credit facilities to individuals and corporations alike. RHB’s key business segments include Consumer Banking, Corporate Banking, Business Banking, Investment Banking and Treasury. The bank is spread across 7 different branches in covering the island and 13 Bureau de Change counters placed at the Singapore Changi International Airport.

    Why Choose RHB Bank Commercial Property Loan?

    RHB Home Loan is a popular choice of loan provided by the bank. RHB bank puts the comfort of its customers first by offering the Commercial Property Loan at attractive interest rate packages. These packages are also variable and furthermore, RHB premier customers can avail this loan at an additional discounted interest rate structure.

    Features and Benefits of RHB Bank Commercial Property Loan

    The following are applicable for a loan amount of SGD 300,000 and more -

    • The charge for the legal subsidies is 0.4% OR SGD 3000, depending on whichever amount is lesser.
    • RHB bank will pay the charge for the first valuation report.

    Interest Rate Structure for RHB Bank Commercial Property Loan

    The following rates apply for both – purchase of a commercial property as well as refinancing of the same –

    Year Variable Package for 2 Years Variable Package for 3 Years
    First Year 1.95% (Commercial Rate – 2.73%) 1.95% (Commercial Rate – 2.73%)
    Second Year 2.25% (Commercial Rate – 2.43%) 2.15% (Commercial Rate – 2.53%)
    Third Year 3.48% (Commercial Rate – 1.20%) 2.48% (Commercial Rate – 2.20%)
    Thereafter Commercial Rate – 4.68% Commercial Rate - 4.68%

    Important Notes

    • The current Commercial Rate is set at 4.68%. This rate is subject to change.
    • The Lock in period for the Variable Package for 2 Years is set at 2 years from the first loan release date.
    • The Lock in period for the Variable Package for 3 Years is set at 3 years from the first loan release date.
    • RHB Premier Customers can enjoy a discount of 0.5% for the initial two years for both variable packages.

    Eligibility Criteria for RHB Bank Commercial Property Loan

    The following are eligible to apply for the RHB Bank Commercial Property Loan –

    • Singapore Citizens
    • Singapore Permanent Residents or PRs
    • Foreigners
    • The applicant must be at least 21 years of age
    • The minimum loan amount is SGD 300,000

    Documentation Required for RHB Bank Commercial Property Loan

    • A photocopy of both sides of the NRIC

    The following Proof of Income Documents are required –

    1. For salaried employees –
      • The latest Income Tax Notice of Assessment (NOA) and a Computerized Payslip OR
      • The latest 12 months CPF Contribution Statement and the latest Computerized Payslip.
    2. For self-employed –
      • The latest 2 years Income Tax NOA (Notice of Assessment) AND
      • A Rental Income – A tenancy agreement (must be stamped) having a lease of at least 6 more months.

    Please Bring the Following for ALL applications –

    1. Go to my HDB Page as per www.hdb.gov.sg and take a print out of the financial information on HDB Loan Commitment.
    2. Latest statement of all credit cards owned by you with any other moneylender or financial institution.

    Property Purchase Documents Required –

    1. Sale and Purchase Agreement document OR the Option to Purchase Document

    Refinancing Documents Required –

    1. Most recent loan statement that reflects the repayment history for the latest 12 months AND reflecting the outstanding loan balance.
    2. Provide any one of the following –
      • Sale and Purchase Agreement document OR Exercised Option to Purchase Document.
      • Stamp Duty Certificate for purchasing the property
      • A Title Deeds copy
      • For bridging loan or term loan – A latest statement of your CPF Public Housing Withdrawal

    The bank can request any other document on a case to case basis as per its discretion.

    Explore Other Banks offering Commercial Property Loans in Singapore:

    Explore Other Loans Offered By RHB Bank:

    RHB Commercial Property Loan - FAQs

    1. What is the minimum age requirement for applying for the RHB Bank Commercial Property Loan?
    2. The applicant must be at least 21 years old in order to apply for the RHB Bank Commercial Property Loan.

    3. Do the variable interest packages offered by RHB apply for a Commercial Property Refinancing loan as well?
    4. Yes. RHB offers two packages with competitive interest rate structure – A 2 Year Variable Package and a 3 Year Variable Package. Both these packages apply to both, Purchase of a new commercial property as well as for refinancing your loan.

    5. What are the property related documents that I need to provide for applying for the RHB Bank Commercial Property Loan?
    6. You can submit either a Sale and Purchase Agreement document or the Option to Purchase Document while applying for the RHB Bank Commercial Property Loan.

    7. Are foreigners eligible to apply for the RHB Bank Commercial Property Loan?
    8. Yes. Foreigners can apply for the RHB Bank Commercial Property Loan provided all the other eligibility criteria are met and the requested documents are submitted.

    9. What is the minimum loan amount provided for an RHB Bank Commercial Property Loan?
    10. In order to be eligible to apply for an RHB Bank Commercial Property Loan, the loan amount must at least be SGD 300, 000 below which an application for this loan cannot be accepted.

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