• Home Loan BYTES FROM OUR KITCHEN

    RHB HDB Home Loan

    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.

    Overview of RHB HDB Home Loan

    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.

    Why Choose RHB HDB Home Loan?

    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.

    Features and Benefits of RHB HDB Home Loan

    • You will enjoy attractive interest rates when you apply for an HDB Home Loan from RHB Bank.
    • You will enjoy legal subsidy of up to $2,500 when you apply for this loan.
    • For the initial 20 percent of the loan amount, you will not have to pay any fee for prepayment even if the payment is made within the interest lock-in period and before the end of the loan tenure.
    • The legal subsidy is applicable when you opt for refinancing the loan and the loan amount is equal to or greater than S$200,000.
    • The legal subsidy offered will be 0.5 percent of the loan amount, up to a maximum amount of S$2,500.

    RHB HDB Home Loan Interest Rate

    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.

    RHB Bank HDB Home Loan Eligibility

    • You should be a Citizen or a Permanent Resident of Singapore
    • You should be aged 21 and above
    • You should be the mortgagor

    Documents Required

    • A copy of your NRIC (front and back)

    Income Proof:

    For Salaried Employees:

    • Latest Payslips (Computerised) and latest Income Tax Notice of Assessment, OR
    • Latest Payslip (Computerised) and latest statement of CPF Contribution for the last 12 months.

    Self-Employed:

    • Latest Income Tax Notice of Assessment for 2 years
    • In case you earn an income from renting your house, you need to submit a stamped copy of your Tenancy Agreement along with the remaining lease period of at minimum 6 months.

    Other required documents:

    For all the applicants

    • A copy of your Financial Information related to your HDB loan commitments that can be obtained from the website of HDB Singapore.
    • Latest statements of all other credit facilities that you have availed from other banks or financial institutions including moneylenders.

    Information About HDB Home Loan Refinancing

    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:

    • Latest Recent loan statement that shows repayment history for the last 12 months; and latest loan statement that shows the current outstanding balance of the loan.
    • You might also need to submit the following documents:
    • Sale and Purchase Agreement OR Exercised Option for Purchase Agreement,
    • The Stamp Duty Certificate for the purchase of a subject property
    • Copy of your Title Deeds

    Bridging 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:

    • Latest withdrawal statement of CPF Public Housing.

    Explore the Other HDB Home Loans Offered By Banks:

    Explore the Other Loans Offered By RHB Bank:

    Frequently Asked Questions (FAQs)

    1. Does the RHB HDB Home Loan come with a fixed or variable rate package?
    2. 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.

    3. How can I avail the legal subsidy offered with this RHB home loan?
    4. 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.

    5. What is the maximum rate of interest charged with RHB HDB Home Loan?
    6. The maximum rate of interest charged with RHB HDB Home Loan is 3.38 percent per annum.

    7. I am a foreigner working in Singapore? Can I apply for this RHB Home Loan?
    8. No, only Citizens and Permanent Residents of Singapore can apply for this home loan offered by RHB Bank.

    9. Do premier customers get any discount on the interest rate?
    10. 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.

  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.