In my last post, I promised to elaborate more on the common dilemma faced by most new homeowners: should you get a HDB or a bank loan?
To put things into context, BTO prices range from $200k (Yishun) - $600k (Bidadari), whereas the average price of a 4-room HDB resale flat in Singapore can go up to $670k in a central location.
Depending on how much housing grants you're eligible for (calculate here!), most of us probably will need to take out a loan to pay off the remaining sum.
I've mentioned about how I'm generally more inclined towards bank loans at the moment, given that they're charging lower interest rates.
Aside from the DBS Home Loan which I previously highlighted here as a good deal, the interest charged by the rest of our local banks have stayed below 2.15% in the last decade......