• RHB Private Property Home Loan

    Home Loan BYTES FROM OUR KITCHEN

    RHB Private Property Home Loan

    Overview of RHB Private Property Home Loan

    Using the RHB Private Property Loan you can finally provide the house of your dreams for yourself and your family. This Home Loan offered by RHB bank offers attractive interest rate packages whether you are financing or refinancing your home. Furthermore, this loan comes with added features and benefits that suit your individual needs and requirements.

    Features and Benefits of RHB Private Property Home Loan

    • Attractive Interest Rate packages

      This RHB Home Loan offers attractive variable rate packages that start as low as 1.78% for the first year. This loan offers an option of two packages –

      1. 2 year variable package
      2. 3 year variable package
    • Legal Subsidy
      1. The legal subsidy charged will be 0.5% of your approved loan amount up to a maximum of SGD 2500.
      2. This fee is applicable only for refinancing for a loan amount less than SGD 200, 000.
    • No Prepayment Penalty

      There is no prepayment penalty for the first 20% of the original loan amount even when within its lock – in period.

    • Lock In Period

      The following lock – in periods are applicable for the packages offered for the RHB Private Property Home Loan –

      1. A lock – in period of 2 years is applicable for the 2 year variable package
      2. A lock – in period of 3 years is applicable for the 3 year variable package

    Interest Rate Structure for the RHB Private Property Home Loan

    Table – Please find below the yearly interest rate structure for both the home loan packages offered under the RHB Private Property Home Loan –

    Year 2 Year Variable Package 3 Year Variable Package
    First Year 1.88 percent (Mortgage Rate – 3.87 percent) 1.78 percent (Mortgage Rate – 3.97 percent)
    Second Year 1.98 percent (Mortgage Rate – 3.77 percent) 1.98 percent (Mortgage Rate – 3.77 percent)
    Third Year 2.48 percent (Mortgage Rate – 3.27 percent) 2.28 percent (Mortgage Rate – 3.47 percent)
    Thereafter 3.38 percent (Mortgage Rate – 2.37 percent) 3.38 percent (Mortgage Rate – 2.37 percent)
    Lock - in period 2 years 3 years

    Current Promotions

    Bundle Package (Mortgage Deposit)

    1st Year

    1.75% (Mortgage Rate – 4%)

    2nd year

    1.98% (Mortgage Rate – 3.77%)

    3rd Year

    2.48% (Mortgage Rate - 3.27%)

    Thereafter

    3.38% (Mortgage Rate -2.37%)

    Minimum amount

    SGD 500,000

    Maximum amount

    SGD 1,500,000

    Minimum Tenor

    5 years

    Deposit Placement

    SGD 100,000 for 1 year

    Lock-in period

    2 years

    Currently, the mortgage rate is 5.75% per annum.

    Please note that the rates mentioned above may change as per the bank’s discretion.

    Note the following –

    • The Mortgage Rate is currently set at 5.75% per annum.
    • Premier Customers of RHB bank will enjoy an additional discount of 0.05% for the initial 2 years of the loan.
    • The aforementioned rates are subject to change.

    Eligibility Criteria for the RHB Private Property Home Loan –

    • Nationality Criterion - Singapore Citizens (SCs), Singapore Permanent Residents (PRs) and Foreigners are eligible to apply for the RHB Private Property Home Loan.
    • Age Criterion – The applicant must be at least 21 years of age to be eligible to apply for this loan.
    • Borrower / s must be the mortgagor.

    Documentation Required for the RHB Private Property Home Loan –

    Please find below the necessary documents to be submitted in order to be eligible to apply for this RHB Home Loan –

    • A front and back photocopy of the NRIC
    • Visit My HDB Page and take a printout of the Financial Information on the RHB HDB Loan Commitment
    • The latest statements from all other financial institutions or moneylenders with whom you have any open credit facilities.
    • The following Income Proof documents are required to be submitted –
      • Salaried Employees –
        1. Income Tax NOA (Notice of Assessment) + your latest computerized payslip OR
        2. CPF Contribution Statements for the latest 12 months + your latest computerized payslip
      • Self – Employed –
        1. Your Income Tax NOA (Notice of Assessment) for the latest 2 years
    • For purchasing a property, any one the following documents are required to be submitted –
      1. Booking Form
      2. Reservation Form
      3. Contract of Sale
      4. Sale and Purchase Agreement
    • For refinancing an existing property, the following documents are required to be submitted –
      1. Your recent loan statement that reflects your repayment history for the last 12 months
      2. Your recent loan statement that reflects your outstanding loan balance
      3. Any of the following documents –
        1. Sale and Purchase Agreement OR Exercised Option
        2. A Stamp Duty Certificate for the purchase of the subject property
        3. A Copy of the Title Deeds
        4. For a Term Loan or Bridging Loan – the latest statement for your CPF Public Housing Withdrawal

    Note The bank can request for any additional documents at its sole discretion.

    Applying for the RHB Private Property Home Loan

    You can apply for this home loan through the following ways –

    • Download the Property Financing Application Form that is available on the official RHB, Singapore website under the RHB Private Property Home Loan webpage.

    • Make an appointment with the bank by providing your personal and contact details and a representative will contact you on your preferred time and take the process forward.

    • If you have any queries regarding the Private Property Loan or the application process, you can contact RHB bank via the following ways –

      1. Call the bank on their Customer Care and Call Centre.
      2. Email the bank on their official email address found on the official RHB, Singapore website.
      3. Visit your nearest RHB, Singapore bank branch, talk to a member of the staff and apply for this home loan directly in person.

    Explore the Loans other Offered by RHB Singapore:

    Frequently Asked Questions

    1. What is the purpose of the RHB Private Property Home Loan?

      Using the RHB Private Property Home Loan, you can finance your dream home at affordable rates for both, financing as well as refinancing. The competitive packages offered by RHB bank also provides additional competitive features and benefits including no prepayment penalty, legal subsidy and a hassle free application process so you can buy your dream home without much pressure or stress of meeting your finances.

    2. Is the prepayment penalty applicable on the RHB Private Property Home Loan during the lock – in period?

      No. One of the most attractive benefits of applying for the RHB Private Property Home Loan is that there is no prepayment penalty applicable for the first 20% of the original loan amount. This also applies to the lock in period of your loan.

    3. What are the interest rate packages offered by the RHB Private Property Home Loan?

      RHB bank offers two different types of packages for its RHB Private Property Home Loan, the 2 year variable package and the 3 year variable package. The lock – in period for the 2 year variable package is 2 years and the lock – in period for the 3 year variable package is 3 years. These packages also come with different interest rate packages.

    4. Do Premier Customers of RHB bank get any customized interest rate packages when applying for the RHB Private Property Home Loan?

      No. Although Premier Customers of RHB bank do not get a customized interest rate package when they apply for the RHB Private Property Home Loan, as Premier Customers of the bank, they will enjoy an additional discount of 0.05% on the existing interest rate package for the initial 2 years of the loan period for both, 2 year variable package and the 3 year variable package.

    5. Are foreigners eligible to apply for the RHB Private Property Home Loan?

      Yes. Foreigners who meet the eligibility criteria and have all the required documents necessary to process this loan are eligible to apply for the RHB Private Property Home Loan.

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