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

    Singapura Finance Housing Loan Singapore

    A home is a place where you spend time with your family and create memories that you can cherish for the rest of your life. You get to spend quality time with your friends and family and also refuge from the world outside. Safety, security and the feeling of belongingness that you can get in your own house may not be found in a rented house. Hence, you should try to purchase a house of your own so that you and your loved ones always have a roof over your head. Do not let your financial condition become a hurdle for you in purchasing your dream house. Apply for a housing loan and purchase the house of your choice without any difficulty. Singapura Finance is a popular financial institution in Singapore that offers a range of credit products ranging from personal loans, car loans, gold share loans and home loans, among others. Home loans offered by Singapura Finance come with affordable interest rates and flexible loan tenures.

    Why Choose Singapura Finance Housing Loan?

    Real estate prices in Singapore are on the rise most of the times and your savings and income may not be enough for you to purchase the house of your choice. Hence, you will need to apply for a home loan in order to get the required funds. When you apply for a housing loan from Singapura Finance, you can be assured that your loan application will be processed fast and you will not need to go through the hassle of submitting too many documents. The process of applying for the loan is very simple and the quantum of financing offered is very as well.

    Types of Home Loans offered by Singapura Finance

    Mortgage Loan

    Singapura Finance offers a mortgage loan that comes with a fixed rate of interest. Tenures can stretch for periods of up to 35 years, or until the applicant turns 65 years of age. The loan amount is mostly dependent on the annual income of the applicant.

    Bridging Loan

    Customers can apply for a bridging loan that will take care of the down payment towards the main housing loan. A Bridging Loan can be used by a customer if he/she is awaiting funds from the sale of an existing property. Once the sale of the property is realized, the bridging loan can be repaid.

    Features of the Singapura Finance Home Loan

    • Singapura Finance offers home loans at affordable rates of interest and lets customers choose their loan tenure.
    • Singapura Finance doesn’t charge any processing fees for home loan application – a big plus point. Most banks in Singapore charge a processing fee on their home loan applications.
    • Singapura Finance will finance up to 80% of the value of the property. The remaining 20% needs to be paid as down payment towards the loan.
    • Customers can use a bridging loan to fund the down payment of their loan. A bridging loan is provided if a customer has a property up for sale and is awaiting funds from the sale of an existing property in his/her name.
    • The loan is available to Singaporean citizens, Permanent Residents as well as foreigners.
    • The loan application process is easy and simple. The processing of the loan can take up to 10 business days.

    Singapura Finance Housing Loan

    Singapura Finance Ltd offers Mortgage Loan for your housing needs. You can purchase private houses and Housing & Development Board (HDB) flats using this loan. It provides a fixed interest rate for the first two years and a high quantum of financing.

    Interest Rate Offered

      Interest Rate
    Property Loans Starting at 2.28% monthly rest

     

    Applicable Fees and Charges

      Fees and Charges
    Failed GIRO deduction and returned cheque S$50 (for each scenario)
    Loan payment charges
    • First S$25,000: Nil
    • For every S$5,000 thereafter or an amount more than S$25,000: S$5
    Statement account
    • For the current year and 1st request for previous year: Nil
    • From 2nd request for the previous year: S$50
    • Beyond the previous year: S$50 for every year
    Bank charges S$10 + as charged*

    *Subject to GST.

    Benefits and Features of Singapura Finance’s Mortgage Loan

    • The loan can be repaid in 35 years or till the time the borrower turns 65, whichever occurs first.
    • Singapura Finance provides you with 80% of the valuation price or the purchase price, the lower value of the two.
    • You do not have to pay processing fees to secure the loan amount.
    • In case acquiring the proceeds from the sale of an existing property is getting delayed, you can take a bridging loan from Singapura Finance to pay the downpayment of the new house.

    Eligibility Criteria

    • To apply for this loan, you can be a Permanent Resident, a citizen of Singapore, or a foreigner who is at least 21 years old.
    • The loan will be given to purchase properties in Singapore only.
    • Total Debt Servicing Ratio must not exceed 60%.
    • Foreigners are required to have a local guarantor.

    Application Process and Documents Required

    To apply for the Mortgage Loan, you must visit a customer care centre of Singapura Finance and must carry the following documents:

    • Identity proof (NRIC or passport).
    • Income documents (such as your recent payslips, IR8A, or Income Tax Notice of Assessment).
    • Recent CPF statements, in case you are planning to utilise your CPF funds to purchase the house.

    Ways to Repay the Loan Amount

    The loan amount can be repaid in 6 ways:

    • AXS: The loan amount can be paid in any AXS station, m-station, or e-Station.
    • PayNow: Scan the QR code available in Singapura Finance’s website using your phone app. Enter the UEN ‘196900340N’, account number for your loan, and the loan amount and submit it.
    • UOB Internet Banking: Pay the loan amount to ‘Singapura Finance Ltd. (Loan)’ under the ‘Bill Payment’ option.
    • Cheque or Cash: Pay cash or cheque at one of their customer centres.
    • Post a Cheque: Write a cheque to ‘Singapura Finance Ltd’ and add the Loan Account Number on the reverse side. Post it to ‘Singapura Finance Ltd, 150 Cecil Street #01-00 Singapore 069543’.
    • GIRO: You can pay via GIRO through Singapura Finance’s official website.

    Contact Singapura Finance

    To clarify your queries, you can contact Singapura Finance in the following ways:

    • Call them at 68800688 on weekdays between 9:00 a.m. and 4:30 p.m. and on Saturdays between 9:00 a.m. and noon.
    • Submit an online enquiry form and wait to hear back from them.
    • Visit the nearest branch and talk to a loan executive personally.

    Own a home at an early age and make your retirement years comfortable. If you already have a house in mind, contact Singapura Finance and start your loan process at the earliest.

    Singapura Finance Home Loan for Foreigners

    Singapura Finance is one of the few financial institutions that provides home loans for foreigners. Foreigners wishing to apply for a home loan need to be at least 21 years old. They will also need to have a local guarantor as part of the application process to get the mortgage loan approved.

    Singapura Finance Land & Construction Loan

    Singapura Finance is a reputed financial company that offers a wide range of financial products and services to customers in Singapore. It enjoys a very good reputation with the customers and its home loans and other products are very popular. The land & construction loan is a type of Singapura Finance Housing Loan that can help people in Singapore to purchase land and build a house on it based on their needs. You will enjoy a wide range of benefits when you opt for this loan product offered by Singapura Finance and you can fulfil you dream of constructing your own house by purchasing a piece of land in Singapore.

    Singapura Finance Property Development Loan

    Singapore, like most other developed countries, is land-scarce and so people who own pieces of land in this island nation can develop their land and utilize the full potential of your land. You can get a building constructed based on your requirements and in the process get to live in a house that will be customize to meet your hopes, aspirations and dreams. If you are the owner of a piece of land and do not have the money to construct any structure on it, you can opt for a property development loan offered by any of the reputed banks and financial institutions in the country. Singapura Finance is a very reputed financial institution and Singapura Finance Property Development Loan can offer you with the money that you need for the purpose of property development.

    Singapura Finance offers a variety of products in Singapore, including home loans, personal loans and so on. Like Singapura Finance Home Loans, the property development loans offered by the company are always in demand. They help businesses to realize the complete potential of their land and property. This loan is available only for businesses and for the development of business properties in the Lion City. You can get in touch with the company to know if your business is eligible for a property development loan offered by them.

    FAQs

    1. Can I pre-close my home loan with Singapura Finance?

      A. Yes, Singapura Finance gives you the opportunity to pre-close your home loan application. You will need to contact Singapura Finance for the same.

    2. What is the maximum tenure that I can choose?

      A. Depending on the loan amount, you can choose a tenure that can stretch to a period of up to 35 years, or until you attain the age of 65.

    3. Can I make the home loan down payment through funds in my CPF account?A.

      Yes, you can make the down payment through funds in your CPF account. The minimum down payment amount should be equivalent to 20% of the value of your property.

    4. Can I apply for a personal loan to pay for the down payment?

      A. In most cases, Singapura Finance doesn’t allow that. However, if you have a high income level, you can gain approval. 

    News About Singapura Finance Housing Loan

    • Singapura Finance HDB Home Loan Promotion

      With rising interest rates, home loans can become very expensive with time as the rates are expected to rise even further in the near future. If you want to make sure that your home loan remains affordable for a period of time, you can opt for Singapura Finance HDB Home Loan. When you opt for an HDB Home Loan from this finance company, you can avail attractive promotional interest rates that will remain fixed for a period of 3 years.

      The benefits of this promotion are as follows:

        • The interest rate will remain fixed for a period of 3 years

        • You will enjoy stability in your monthly instalment payments for the loan.

        • The interest rate offered for this period will be lower than HDB Concessionary Rate, which is 2.60 percent per annum at the moment.

      Please contact Singapura Finance to know about all the applicable terms and conditions.

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