Can I just find out what kind of interest rates are you paying?

I am currently paying 3 months SIBOR + 0.7% with no lock-in by DBS..

Can I just find out what kind of interest rates are you paying?

I am currently paying 3 months SIBOR + 0.7% with no lock-in by DBS..

How much is that?

2%?

How much is that?

2%?

3M Sibor is currently going at 0.64%

however, it may goes up or down... Currently the lowest among the past 2 years

Average people will be paying somewhere ard 1.2% - 1.9%

Sibor + 0.7% will be around, 1.34% as of this month

3M Sibor is currently going at 0.64%

however, it may goes up or down... Currently the lowest among the past 2 years

Average people will be paying somewhere ard 1.2% - 1.9%

Sibor + 0.7% will be around, 1.34% as of this month

Last week, after MAS revalued the SGD, SIBOR dropped below 0.6%... I think SIBOR has a strong correlation to the Fed Rates.

Can I just find out what kind of interest rates are you paying?

I am currently paying 3 months SIBOR + 0.7% with no lock-in by DBS..

Homestly speaking, I get sick of filling up those CPF HBL form when interest rate revised & monthly instalment amount different !.

Edited April 24, 201016 yr by bepgof

Homestly speaking, I get sick of filling up those CPF HBL form when interest rate revised & monthly instalment amount different !.

If such a case, then I would suggest you take Fixed Plans, then you don't need to worry about the up or down of the banks rates

If such a case, then I would suggest you take Fixed Plans, then you don't need to worry about the up or down of the banks rates

Correct, wife insisted fixed, so last yr took UOB's at 2.48%, 30yr, $466k, $1800+per mnth. Will be revised to $330+per month starting May, after partial pre-payment, filled & submited CPF HBL form again to indicated my/wife amount to be deducted.

Edited April 25, 201016 yr by bepgof

Correct, wife insisted fixed, so last yr took UOB's at 2.48%, 30yr, $466k, $1800+per mnth. Will be revised to $330+per month starting May, after partial pre-payment, filled & submited CPF HBL form again to indicated my/wife amount to be deducted.

Wow.. that is very good. Your loan payment is reduced from $1800 to $330.

Wow.. that is very good. Your loan payment is reduced from $1800 to $330.

Thank you. Intended to make full redemption this coming september (inform bank 3 mnth in advance), so no penalty. Actually the penalty also not much, 1.5% x outstanding + return of freebie. I hate to q, fill up form, sign here & there. I prefer all at one go if possible.....but wife..sigh

Edited April 26, 201016 yr by bepgof

Thank you. Intended to make full redemption this coming september (inform bank 3 mnth in advance), so no penalty. Actually the penalty also not much, 1.5% x outstanding + return of freebie. I hate to q, fill up form, sign here & there. I prefer all at one go if possible.....but wife..sigh

Congras to you. You will be a free man when you don't have a loan hanging over your head. I guess I will have to wait and slog for much longer before I can reach your stage.

If such a case, then I would suggest you take Fixed Plans, then you don't need to worry about the up or down of the banks rates

Honestly, I don't think short term interest rates will rise anytime soon. If the Feds increase the rates too fast too soon, we will regress into another global crisis. Supposing SIBOR goes up to 2% - I think this will have significant adverse impact on our property market, since interest repayments will be higher than rental yields. Hence, it would be very safe to take a loan tied to SIBOR or SOR.

Correct, wife insisted fixed, so last yr took UOB's at 2.48%, 30yr, $466k, $1800+per mnth. Will be revised to $330+per month starting May, after partial pre-payment, filled & submited CPF HBL form again to indicated my/wife amount to be deducted.

Actually, it doesn't make much sense to use CPF to prepay - since CPF OA is paying 2.5% while Loan interest rates are from 1.2-1.5%. Maybe if loan interest starts creeping up next year, then you make prepayment or if govt decides to reduce i/r for CPF (which I doubt will happen anytime soon).

Actually, it doesn't make much sense to use CPF to prepay - since CPF OA is paying 2.5% while Loan interest rates are from 1.2-1.5%. Maybe if loan interest starts creeping up next year, then you make prepayment or if govt decides to reduce i/r for CPF (which I doubt will happen anytime soon).

Never mind lah, let ppl earn a bit & got job to do. Cannot eat all including the bone. If cannot digest, ALL will be vomitted out, worst still.

Edited April 26, 201016 yr by bepgof

I think I'm paying the highest i/r here. Dunno if anyone will believe. Due to some financial reasons, cannot refinance, so stuck with bank. 5.45%. Go up and then come down super slow. Ever paid 6%. That's why selling govt pigeon hole now! Sell also cannot make much cos bulk of profit will be used to put back into CPF for interest paid to bank.

hi guys, chanced upon this thread talking about interest rates, thought i'd get some advice. i am currently with Stan Chart, paying 3mth SIBOR+1.25% with no lock in. however, as i had taken the loan to purchase a new property, part of the loan amount has not been disbursed to the developer yet. also, was given full legal subsidy and 3 yrs fire insurance.

i had compared around and stanchart doesnt seem to be giving me the best deal and none of the their existing packages are enticing enough.. am i able to do a re-financing with other banks? what are the implications? legal subsidy call-back? penalty on undisbursed amount?

thanx!