A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Home Loan BYTES FROM OUR KITCHEN

    Maybank HDB Home Loans

    Maybank offers a wide range of home loans for various customer needs. The bank gives you the option to choose either a fixed rate package or a floating rate package. You can enjoy savings through interest rates and reduce your instalment amount every month. Maybank HDB Home Loan can used to buy a new Built-To-Order (BTO) flat or an HDB flat. The home loan rates are pegged to the Fixed Deposit Mortgage Rate 36 (FDMR36) or the home loan board rates called Singapore Residential Financing Rate (SRFR).

    Features and Benefits

    • You can borrow up to 80% of the market valuation or purchase price of the property, depending on whichever is lower.
    • You can opt for an HDB home loan with fixed interest rates or choose a floating rate HDB home loan package which is pegged to the bank’s home loan board or the 3-month SIBOR rate.
    • Refinance your existing loan and get legal subsidy.
    • You can call on the 24-hour customer service hotline number for guidance on HDB home loans.
    • If you are a current home loan customer, apply online for a renovation loan and enjoy an exclusive interest of 2.88% p.a.
    • Home loan customers will enjoy interest rates of up to 3% p.a. under the Save Up Program.

    Fees and Charges

    Type of fee Fees and charges
    Administration fee S$800
    Protecting the title deed for repaid loans S$500 p.a. for each deed
    Fee for changing the redemption date S$200
    Impromptu request for housing loan redemption record S$100 for each request

    Eligibility

    • You must be at least 21 years old.
    • You must be a Singaporean or a Permanent Resident.
    • Foreigners staying in Singapore and looking for a property can also apply.

    Documents Required

    • A copy of your NRIC or passport.
    • Latest salary payslips.
    • Most recent Income Tax NOA.
    • Latest CPF contribution statement.
    • Tenancy agreement if you have invested in a property.

    Additional Documents Required

    For purchase of property:

    • A copy of the Sales and Purchase Agreement.

    For bridging loan:

    • A copy of your loan account statement from HDB or your existing bank for the last 6 months.
    • Most recent CPF withdrawal statement for the sold property.
    • Option to sale for your existing property.

    For refinancing:

    • A copy of your loan account statement from HDB or your existing bank for the last 6 months.
    • Most recent CPF withdrawal statement for the sold property.

    How to Apply

    You can apply through the bank’s website in the following manner:

    • Offline: You can download the PDF version of Mortgage Loan Application Form, fill the form, and mail it to the bank along with the required documents.
    • Online: Go to the HDB Home Loan webpage, click on “Enjoy Interest Savings”, fill in the details, and submit the form online.

    FAQs

    Q. Can I use the HDB home loan for DBSS flats?

    A. Yes, you can use this home loan for flats under Design, Build, and Sell Schemes (DBSS) with a lease of over 30 years.

    Q. What is the loan amount offered for refinancing my home loan?

    A. You can borrow up to your complete outstanding home loan amount when refinancing with Maybank.

    Q. What can I do if I do not receive the sale proceeds in time to pay for my new HDB flat purchase?

    A. If you do not receive your sale proceeds, you can take a bridging loan that can pay for your new flat purchase.

    Q. How can I pay for the bridging loan?

    A. You can repay this loan once you receive the sale proceeds from selling your existing property. Until then, you need to pay only the interest amount charged per month.

    Q. Is fire insurance mandatory to apply for Maybank home loans?

    A. Yes, fire insurance is required by the bank to protect your property against risks arising from fire hazards.

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