HPS Singapore: What you need to know
The majority of Singaporeans (approx. 80%) live in HDB flats. But do you know about the Home Protection Scheme (HPS Singapore)? Maybe not. For young Singaporean couples looking to buy their first HDB BTO, do take note of this scheme which is mandatory if you intend to use your CPF funds to pay for your monthly home loan installments.
In this article, I will briefly discuss:
1) the basics of Home Protection Scheme (HPS Singapore),
2) where to find your own personal Home Protection Scheme (HPS) information (if it is eligible to you),
3) why you should not be actively pre-paying your HDB loan and
4) why choosing a term insurance loan might be more appropriate vs. Home Protection Scheme (HPS).
What is Home Protection Scheme (HPS Singapore)
Home Protection Scheme (HPS Singapore) was introduced to protect...