• Home Loan BYTES FROM OUR KITCHEN

    SIF Home Loan Singapore

    Your home can be the place where you will conceive your dreams and then work towards turning them into reality. It is the place where you can come back from after a hard day of work and then relax with your family and friends. Buying a house in today’s world is not an easy task as all kinds of houses are very expensive these days and you may not have access to the required finances to purchase a house of your own. In such a scenario, you can always apply for a housing loan and then get the required finances to purchase the house that you desire. SIF housing loans can help you to easily get the money required for your real estate purchase and will also offer you with other beneficial features.


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

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    SIF Home Loan Minimum Age

    No Info

     SIF Home Loan Maximum Age

    No Info

    SIF Home Loan Eligible Employment Type

    Salaried / Self-employed with regular income

    SIF Home Loan Minimum Income

    $50,000 per annum for foreigners


    Your SIF Home Loan amount eligibility is based on these factors

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    SIF Home Loan Minimum Salary

    No Info

    SIF Home Loan Maximum Loan to property value

    No Info

    SIF Home Loan EMI

    EMIs of other loans lower your eligibility


    Increase your eligible SIF Home Loan amount by these steps

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    SIF Home Loan Add Spouse as Co-applicant

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

    SIF Home Loan Maximum Tenure

    Choose longer tenure loan up to 25 years

    SIF Home Loan Add parents as Co-applicant

    Alternatively add your parents


    Documentation needed to apply for an SIF Home Loan

    • 1. Copy of NRIC (both sides)
    • 2. Copy of your Passport
    • 3. Income Tax Assessment for the last 2 years
    • 4. CPF Statement
    • 5.Purchase and Sale Agreement or Option to Purchase Agreement

    SIF Home Loan DetailsUpdated on 18 Nov 2017

    SIF Home Loan Details
    Max Loan Tenure 5 years
    Monthly EMI 80% of the net purchase price or valuation

    Sing Investments & Finance Limited is a popular financial institution in Singapore that offers various types of loans and investment options. The institution offers housing loans, construction loans, commercial property loans, and loans to purchase HDB flats to Singaporeans and Permanent Residents. Let’s take a detailed look at what you can expect from applying for a property loan product with SIF.

    Why choose SIF Housing Loans?

    If you want to take advantage of a hassle free application process and also get access to a range of benefits such as higher loan amounts, minimum documentation and so on you should apply for a housing loan with Sing Investments & Finance Limited. The applications are processed within no time and on approval, the loan amount will be credited directly to your bank account. You will also get the advantage of choosing from a variety of housing loans offered by the company. Besides, you will benefit from the excellent quality of service that they will provide you with.

    Types of Housing Loans offered by SIF in Singapore

    SIF HDB Loan

    The SIF HDB Loan allows you to purchase your own HDB flat – either a new one built-to-order or a resale flat. The loan comes with flexible tenure periods that stretch up to 35 years. A loan amount of up to 80% of the property’s value is made available.

    SIF Housing Loan

    The SIF Housing Loan lets you purchase your own private property in Singapore. Interest rates are affordable and tenures can be chosen depending on convenience in making prolonged repayments, and the loan amount involved. In this case too, SIF will fund up to 80% of the value of the property.

    SIF Commercial Property Loan

    Commercial property loans come with a tenure stretching up to 20 years. SIF will fund up to 80% of the property’s valuation. The minimum income criteria needs to be met if you have to apply for a commercial property loan with SIF.

    SIF Land and Construction Loan

    The land and construction loan offered by SIF lets you construct your own home in Singapore. This can be taken for both private construction and commercial construction. Interest rates are highly attractive and are pegged to the SIF base rate.

    SIF Bridging Loan

    The SIF Bridging Loan helps you pay the down payment amount on your HDB loan if you are expecting sales proceeds from an existing property. Once funds from the property sale are received, you can close the bridging loan with SIF.

    Features and Benefits of SIF Home Loans

    • SIF provides you with a loan to purchase a private property, an HDB flat, constructing your own home as well as for construction and purchase of commercial property in Singapore.
    • In most cases, SIF will fund up to 80% of the property’s market valuation. The remaining amount has to be paid as down payment towards the loan.
    • Tenures in the case of HDB loans and private property loans can stretch for up to 35 years. In the case of commercial property loans, tenures can last up to 20 years. You can select a tenure of your choice.
    • You can make repayments in an easy and convenient manner.
    • There are a combination of interest rate packages available. You can choose a package that best meets your financial interests. The primary package is one that is pegged to the SIF base rate.

    SIF Home Loan Interest Rates

    Interest rates are pegged to the SIF base rate, which itself is subject to change from time to time. The current SIF base rate is 2.44% p.a.

    How to Apply for a home loan from SIF

    You can apply for a loan from SIF by visiting the official SIF Singapore website and downloading the application form available online. You can fill out the application form with your details and subsequently submit your form along with your supporting documents. You can also visit an SIF branch in Singapore and physically fill out the application form, and submit your documents.  

    Eligibility Criteria to apply for the SIF Home Loan

    • You should be not less than 21 years of age.
    • The minimum income eligibility criteria as specified by the bank needs to be met.
    • All supporting documents, as required by the bank, need to be submitted.

    Documents to be submitted to the bank

    • Employment letter or Letter of Appointment
    • Computerised salary slips
    • Tax Bill or Notice of Assessment from the IRAS for the previous 2 years
    • Proof of identity – front and back copy of NRIC.  
    • Valuation of the new property you wish to purchase
    • Contract of ownership of property and agreement showing sales intention
    • Marriage certificate, if required

    SIF Home Loan repayments

    You can make repayments towards the loan through internet banking. You can transfer funds to the beneficiary account before the monthly payment due date.

    FAQs

    1. Can I make the down payment amount through my CPF funds?

      A. Yes, you can make the down payment amount (minimum 20% of the value of the property intended to be purchased) through funds in your CPF account.

    2. How often are base rates subject to change?

      A. SIF can alter the base rate and adjust it to meet market expectations. Rates can be subject to change at multiple times during the tenure of the loan.

    3. Can I pre-close my home loan with SIF?

      A. Yes, you can pre-close your loan application before the expiry of the originally decided tenure at an additional charge. SIF will intimate you on how much you’ll have to pay to pre-close your loan.

    4. Is my home loan amount insured?

      A. You need to separately purchase insurance for the loan amount. SIF does not provide you with an insurance cover along with your home loan application.

    5. What is the maximum loan amount offered with an HDB Home Loan from SIF?

      A. With an SIF HDB Home Loan, you can avail up to 80 percent of the market value or purchase price of the property (whichever is lower) as a loan amount.

    6. How can I apply for a housing loan from Sing Investments & Finance Limited?

      A. In order to apply for a Sing Investments & Finance Limited Housing Loan, you will first need to download the application form from their website. After that, you will need to fax a duly filled copy of the form along with the required documents. Once the company receives your documents, your loan application will be processed within a few days.

    7. I want to apply for a Commercial Property Loan with SIF. What is the maximum loan repayment period that I can avail?

      A. With a Commercial Property Loan from SIF, you can avail a maximum loan repayment period of 20 years.

    8. Can I utilize my CPF balance to pay for the instalments of an HDB Home Loan?

      A. Yes, you will be allowed to utilize your CPF balance to pay for the instalments of your HDB Home Loan from SIF.

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