There has been many articles on this discussion and I have been researching on it time after time. Each time I wanted to be convinced to change but I was not. So I spent some time organising my thought process and would like to share them with you here.

Why I went with HDB loan in the first place?

  1. Lesser cash upfront

For the purchase of HDB flat, 20% of the amount is needed as the down payment. If you have sufficient CPF funds and with HDB loan, you can pay this 20% fully with your CPF-OA account. For bank loan, you must at least pay 5% of the down payment in cash. For cash strapped couples like us, especially when you have to pay for wedding banquet and renovation, HDB loan is a no brainer. After all, you could always change to bank loan at any time but once you take up bank loan, there is no turning back until …