Which bank offer the best homeloan package?....


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RossChang

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#1
Ho ho... now time for homeloan shopping liao...

Anyone know which bank offer the best homeloan packages?... how abt ur own experience? care to share?;p
 

danster

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RossChang said:
Ho ho... now time for homeloan shopping liao...

Anyone know which bank offer the best homeloan packages?... how abt ur own experience? care to share?;p
Try UOB Zero Interest, 0% for first year and fixed interest rate for next 2 years. May not be a bad idea in today's rising interest rate environment.

Else if you have tonnes of cash you can go for one of those loans that charge you interest on your loan after netting off current balance in your current account. I think HSBC and StandChart provide these.
 

RossChang

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Astin said:
U need to define your meaning of "best"?
- lowest interest rate?
- highest loan amount?
- longest loan term?
- all of the above?
Definately everything in the package... but of course the main concern is the interest rate cos with my age I can loan up to 35 yrs no problem... loan amt also... no problem cos not exceeding my income cap
 

RossChang

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danster said:
Try UOB Zero Interest, 0% for first year and fixed interest rate for next 2 years. May not be a bad idea in today's rising interest rate environment.

Else if you have tonnes of cash you can go for one of those loans that charge you interest on your loan after netting off current balance in your current account. I think HSBC and StandChart provide these.
Hur?... got first year 0% interest?... so how's the rates for 2nd and 3rd year?...

So far I've seen OCBC and DBS seems to offer the most competitive rates ( same rates )
at

[variable rates]
1st yr 2.75
2nd yr 3.25
3rd yr 3.5


ANOTHER QUESTION:
is it advisable to take the above variable rates or go for fix rate for 1st 2 years starting at 3.25........
 

melvin

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I think its better if u talk to the bankers of diff banks and let them tell u their packages... if u want to talk to diff bankers.... i can arrange for you! ;)
 

RossChang

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melvin said:
I think its better if u talk to the bankers of diff banks and let them tell u their packages... if u want to talk to diff bankers.... i can arrange for you! ;)
Thanks, I was already talking to a list of Loan Bankers given by my agent... today finally settled down for OCBC...;p

Gezz... it's difficult deciding which bank to go for cos their rates are similar, Esp DBS and OCBC... exactly the same...
 

melvin

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RossChang said:
Thanks, I was already talking to a list of Loan Bankers given by my agent... today finally settled down for OCBC...;p

Gezz... it's difficult deciding which bank to go for cos their rates are similar, Esp DBS and OCBC... exactly the same...
These 2 local banks thats why they can offer abt the same n stay competitive wif the foriegn banks.

Lucky u settled today! Cos the bank rates has gone up 0.5% as of today! ;) Congrates again!
 

RossChang

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melvin said:
These 2 local banks thats why they can offer abt the same n stay competitive wif the foriegn banks.

Lucky u settled today! Cos the bank rates has gone up 0.5% as of today! ;) Congrates again!
No... er, it's 0.5% effective from monday I heard... :p
 

melvin

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RossChang said:
No... er, it's 0.5% effective from monday I heard... :p
Normally they will give a grace period before changing and actually is the last day of the grace period!

This is always the case... snice the previous 3 raises of int rates over the last 2 years! ;)
 

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