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Your home is the place where you seek refuge after a long day of work. You can spend time with your family and friends, while you try to relax and rejuvenate. There are many people who do not have a home of their own and due to financial challenges, they are unable to buy a home as well. If you are one of those people, you can apply for a home loan and fulfil your desire of becoming a homeowner. There are many banks in Singapore that offer different types of home loan products and one of those banks is RHB Bank.
RHB is a Malaysia-based bank that has made its mark in the world of banking and finance. The bank has been present in Singapore for a long time and offers a wide range of banking products, solutions and services which include savings account, loans etc. The different home loan products offered by RHB Bank in Singapore are Private Property Home Loan, HDB Home Loan, Home Renovation Loan, Malaysian Residential Property Financing and Commercial Property Financing. With an HDB home loan from RHB Bank, you will get the required financial assistance to purchase an HDB flat in the city of Singapore.
If you want to purchase an HDB flat of your choice and also want to make sure that you do not spend a fortune in paying the interest for your home loan, you can apply for an HDB home loan from RHB Bank. RHB Bank is a very reliable banking institution and you can be assured that you will experience a lot of transparency in way the bank will interact with you as a customer and offer you its services. You will also experience a simple and hassle-free loan application process when you apply for an HDB home loan from RHB Bank.
Applicable Interest Rates:
|Tenure of the Loan||Interest Rate for 2 year Variable Package||Interest Rate for 3 year Variable Package|
|1st Year||1.98 percent per annum (2.27 percent less than)||1.88 percent per annum (2.37 percent per annum less than HB1)|
|2nd Year||2.08 percent per annum (2.17 percent per annum less than HB1)||2.08 percent per annum (2.17 percent per annum less than HB1)|
|3rd Year||2.58 percent per annum (1.67 percent per annum less than HB1)||2.50 percent per annum (1.75 percent per annum less than HB1)|
|Thereafter||3.38 percent per annum (0.87 percent per annum less than HB1)||3.38 percent per annum (0.87 percent per annum less than HB1)|
|Interest Lock-in period for the loan||2 years||3 years|
At present, the HB1 (HDB Board Rate 1) 4.25 percent per annum.
Premier customers are offered a discount of 0.05 percent per annum for the initial 2 years. The rates can be changed by the bank.
For Salaried Employees:
Other required documents:
For all the applicants
Apart from availing a new HDB home loan from RHB Bank in Singapore, you can also approach the bank to refinance your existing HDB home loan with any other bank or financial institution. You will enjoy attractive interest rates and all other beneficial features offered with this loan.
Here are a list of the documents that you will need to submit if you want to refinance your existing home loan:
In case you are waiting to receive payment for the sale of your existing property, you can apply for a bridging loan from RHB Bank and avail the money needed to make the down payment for the HDB property you want to purchase. This will help in ensuring that you do not have to lose out on the opportunity to purchase the HDB property of your choice. Once you receive the payment, you can pay off the loan amount and as the interest charged will be very attractive you will not end up spending a lot of money on availing a bridging loan.
Here are the documents that you will need to submit for availing a bridging loan from RHB Bank in Singapore:
This home loan from RHB Bank comes with variable packages for the first 3 years and then a fixed package for the remaining years of the loan tenure.
You can avail the legal subsidy offered with this RHB home loan when you opt for refinancing the loan and the loan amount is equal to or greater than S$200,000.
The maximum rate of interest charged with RHB HDB Home Loan is 3.38 percent per annum.
No, only Citizens and Permanent Residents of Singapore can apply for this home loan offered by RHB Bank.
Yes, premier customers get a discount of 0.05 percent per annum for the initial 2 years. The rates can be changed by the bank.