• POSB Home Loan

    Home Loan BYTES FROM OUR KITCHEN

    Purchasing a house or residential property is a major decision in anyone’s life. This is due to the reason that not only is property a lifetime investment but also, it requires substantial amounts of money to purchase. Any house or property purchased can be passed on from generation to generation and will only accumulate value over time. Which is why infrastructure is still considered one of the most secure forms of investment. However, as property rates will only go up in the future, it is not always possible to purchase property solely with your savings. Be it your first house or your next house, it isn’t always easy getting the right financial aid.

    The time has come, to put an end to your search for home loans with the POSB HDB Loan. One of the most popular home loans offered by the POSB Bank, this loan features some excellent terms with regards to affordable interest rates, multiple interest rate packages to suit different budgets, flexible term periods, a hassle free process of application, higher savings and many such benefits.


    You’re probably eligible for an POSB Bank Home Loan if you are

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    POSB Bank Home Loan Minimum Age

    No Info

     POSB Bank Home Loan Maximum Age

    No Info

    POSB Bank Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    POSB Bank Home Loan Minimum Income

    Earn more than the minimum
    income required


    Your POSB Bank Home Loan amount eligibility is based on these factors

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    POSB Bank Home Loan Minimum Salary

    EMI limited to about 50%
    of monthly income

    POSB Bank Home Loan Maximum Loan to property value

    No Info

    POSB Bank Home Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible POSB Bank Home Loan amount by these steps

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    POSB Bank Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    POSB Bank Home Loan Maximum Tenure

    Choose longer tenure loan

    POSB Bank Home Loan Add parents as Co-applicant

    Alternatively add your parents


    Documentation needed to apply for an POSB Bank Home Loan

    • 1. Copy of NRIC/Passport of all Applicants & Owners
    • 2. Latest Computerised Payslip (salaried)
    • 3. CPF Statement – Latest 12 Months Contribution History (salaried)
    • 4. 2 Years Income Tax Assessment (self-employed)
    • 5. Option to Purchase or Sale & Purchase Agreement (for new purchase)
    • 6. Tenancy Agreements (if any)
    • 7. Evidence of sale of existing property (if applicable)

    POSB Bank Home Loan DetailsUpdated on 21 Aug 2017

    POSB Bank Home Loan Details
    Interest Rate 2.5%
    Margin of Finance No Info

    POSB Bank Overview

    Founded originally in 1877, the Post Office Savings Bank (also known as POSB Bank or POSB), is an offshoot of the DBS Bank, Singapore primarily concerned with consumer banking services. Singapore. POSB was acquired by the DBS Bank in 1998 and since then has focused on providing low cost banking services to its customers. With the highest number of branches in suburban neighbourhoods and ATMs located throughout Singapore, POSB offers a wide spectrum of products and services like deposit accounts, loans, mortgages and cards.

    Why Choose POSB Home Loan

    Protect yourself from inflations in interest rates and enjoy higher savings with the POSB HDB Home Loan. One of the notable features of this loan is that it offers loan rates much lower than the HDB Concessionary loan rates, for the first 8 years of the loan tenure. Additionally, this loan is also very stable when it comes to prepayments and does not charge any fee on prepayment of loan. Also, with the DBS Home Loan calculator, it is easy to calculate the loan amount you have to pay each month, so you can budget your expenses accordingly.

    Types of Home Loan Offered by POSB

    POSB offers the following types of home loans to people in Singapore:

    1. POSB HDB Loan – If you want to purchase a new HDB flat of your choice and are looking for financial assistance, you should certainly opt for the HDB loan offered by POSB. You will benefit from the wide range of features offered by the bank when you opt for this loan.
    2. POSB Private Property Home Loan – If you want to purchase a private property in Singapore and not a HDB flat, you can opt for this home loan offered by POSB. You will enjoy lucrative interest rates and a very high loan amount.
    3. POSB Renovation Loan – Renovating your home will no longer be a problem for you, thanks to the renovation loan offered by POSB. You will enjoy flexible repayment period, higher loan amount and a ton of other benefits with the renovation loan offered by the bank.
    • You will not have to pay any Prepayment fee if you pay off the loan before the end of its tenure.
    • Enjoy a guaranteed interest of 0.1 percent lower than the concessionary rate offered for HDB home loans for the first 5 years of the loan tenure with the HDB home loan.
    • Save money while paying the loan EMIs as you will have to pay a lower amount of interest on the loan amount.
    • Get direct assistance from POSB Home Advice Specialist when you want to apply for any of the home loans offered by the bank.
    • Download DBS Home Connect, and have a personal assistant guide you through the entire process of buying a home
    • Enjoy an array of fixed rate packages and floating rate packages with the POSB Private Property Home Loan.
    • Benefit from a lower interest rate of 2.31 percent p.a. when you apply for the POSB Renovation Loan.
    • Get up to S$30,000 as a renovation loan and enjoy flexible tenures of 1 to 5 years to pay off the loan amount.
    • Enjoy complimentary life and total permanent disability insurance with the POSB Renovation Loan.

    POSB home loans and home renovation loans are available at affordable rates of interest. This is to ensure that every borrower can enjoy maximum amount of savings. The interest rates are lower than or capped at 2.5 percent p.a. for the first 5 years for the HDB Loan. The Renovation Loan comes with a lower interest rate of 2.31 percent p.a. and with the Private Property Home Loan you will be offered with suites of packages with floating and fixed interest rates. The interest rates mentioned can be POSB at the sole discretion of the bank. To attain more clarity on the same, please visit the nearest branch or contact the customer support team of the bank

    The following fees and charges are applicable for the Renovation Loan:

    Type of Fee Fee Amount
    Handling Fee 1 percent of the loan amount
    Insurance Premium 1 percent of the loan amount
    Cancellation Fee 1 percent of the loan amount
    Charges for Prepayment 1 percent of the outstanding amount

    Currently, there are no promotions available with the home loans offered by POSB. However, the bank does offer such promotions from time to time and so keep visiting this page to know about the latest home loan promotions offered by POSB.

    The POSB home loans are available for the following individuals:

    • Individuals who are HDB owners and have existing loans with the Housing Development Board or any other banks or financial institutions
    • New HDB owners who have completed flats
    • Individuals who want to purchase a new private property in Singapore
    • Individuals who want to renovate their existing homes
    • Minimum loan amount of S$100,000 is applicable for HDB Home loan and Private Property Home loan

    POSB Home Loan - Frequently Asked Questions (FAQs)

    You can use the DBS Home Loan calculator to easily calculate the EMI amount you have to pay towards your home loan each month, so that you can budget your expenses accordingly.
    Individuals who are HDB owners and have existing loans with the Housing Development Board or any other banks or financial institutions and new HDB owners who have completed flats, are eligible to apply for POSB HBD home loan.
    The minimum loan amount applicable for POSB HDB Home Loan and Private Property Home Loan is S$ 100,000. With the Renovation Loan, the maximum loan amount offered is S$30,000
    Yes, borrowers can enjoy concessionary loan rates for the first 5 years of the loan tenure, if they avail POSB HDB Home Loan.

    You will be eligible for this loan if you are:

    • A Citizen or a Permanent Resident of Singapore in the age group of 21 to 65 years.
    • The owner of the property that has to be renovated
    • An individual whose annual income is S$24,000 and more
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