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.

Source: Stacked Homes

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…