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    Standard Chartered’s HDB Bridging Loan

    Have you decided to sell your current home and buy a new property from the Housing and Development Board (HDB)? Well, then you already know that buying a home is a commitment that you make for the long term. But at times, even with careful financial planning, you may be left wondering where to get money for the initial down-payment from. This is where bridging loans come into the picture.

    Standard Chartered’s HDB Bridging Loan provides you with the funds required for you to make a down-payment for your new home, while you are waiting for the proceeds from the sale of your existing home.

    Features and Benefits

    • The Standard Chartered HDB Bridging Loan charges low fees to ensure that you are not straining yourself financially. In fact, there are no processing fees or upfront arrangement fees involved.
    • The maximum tenure for the loan is 6 months. Fixed monthly instalments don’t need to be paid during this tenure. You can make the full payment upon receiving payment from the sale of your old house.
    • The application process is hassle-free and quick.
    • The interest rates are competitive and are based on Singapore Interbank Offered Rate (SIBOR). The rate of interest for the HDB Bridging Loan is 3M SIBOR + 2% p.a.

    Eligibility Criteria

    To apply for this loan, you need to meet the following parameters:

    • You need to be between 25 and 65 years old.
    • Only Singapore Citizens and Permanent Residents who are selling their private property or HDB flats are eligible for this loan.
    • You are buying another HDB flat from the HDB resale market or from the HDB.
    • If there is more than one owner of the flat being sold, then all the owners need to be borrowers.
    • First-time buyers are not eligible for this loan.
    • Contra-transactions do not qualify for an HDB Bridging Loan.

    How to Apply

    To apply for an HDB Bridging Loan, fill in the details required in the contact information form that can be found on Standard Chartered Singapore’s official website. Once you complete and submit the form, a representative from the bank will get in touch with you.


    Q. What does 3M SIBOR + 2% p.a. mean?

    A. This means that the bank will use the 3-month Singapore Interbank Offered Rate (SIBOR) rate and will add 2% to it to determine the annual rate of interest payable.

    Q. What is meant by a contra-transaction?

    A. Contra-transactions are transactions where you are looking at selling your existing property and buying your new property at the same time. The amount received from the sale of your property is used to purchase the new property. In such cases, you will not be eligible for an HDB Bridging Loan, since the purpose of the loan is to provide payment solutions until sale proceeds of your existing property are received.

    Q. I need a home loan to purchase a new property. Do I need to apply for a home loan and a bridging loan?

    A. If you apply for Standard Chartered’s MortgageOne, then you don’t need to apply for an HDB Bridging Loan separately since these funds form a component of your home loan.

    Q. I currently have a bridging loan. Will this affect my Loan to Value (LTV) ratio when I apply for other types of loans?

    A. A bridging loan granted by financial institutions regulated by the Monetary Authority of Singapore (MAS) is not taken into consideration for your LTV calculation.

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