What’s the biggest big-ticket item you’ve bought?
For most of us, that will probably be our house, which we generally don’t have the ability to pay upfront anyway. Therefore, getting a good home loan is essential.
I’ve recently been on the lookout for affordable home loans where my regular repayments will ideally be as low as possible. Most Singaporeans opt for a floating rate package, typically pegged to the SIBOR, which have generally offered better value than the fixed rate packages.
However, an ex-colleague just told me about a new home loan promotion by DBS called the May Day Home Loan Special (so gimmicky *rolls eyes*) which seems to offer the most attractive rates so far.
For the uninitiated, please read my other article here about SIBOR and how it affects your home loans first.
At 1% p.a., this is the cheapest rate currently offered among all the banks now. With the Fed expecting to raise interest rates this year, this fixed rate is fixed in the first ......
Do you know how long this loan scheme last?
Hi Fred,
Based on the comments in the author’s site, this loan package has a lock in period of 3 years.
If you have further comments, you might want to head over to the author’s site and join in their discussion?