Come July 2020, some of our favourite bank accounts are lowering their bank deposit rates.
The falling rates are on the back of the US Fed cutting its interest rates to near zero.
Switching from HDB loan to a bank loan to take advantage of the low interest rate has surely gained some interest of late, as seen from questions asked in the Seedly Community.
It’s not just the Seedly Community, but talks are rife in Facebook communities and blogs about refinancing from an HDB loan to a bank loan.
However, before we get all too excited and jump on the bank loan bandwagon…
We should understand that the lower interest rate is not the only thing to consider.
There are also other important aspects to think that may not be widely discussed.
TL;DR: Refinancing Your HDB Loan to Bank Loan? You Should Consider These First…