Warrior88 0 Report post Posted August 28, 2010 Posted : 27 August 2010 1914 hrs Maybank Singapore offers new packages for home loans market By Ephraim Seow Maybank branch in Kuala Lumpur SINGAPORE : Maybank Singapore has raised the bar in the home loans market with its slew of latest offerings that include mortgage rates lower than one per cent in the first year. For instance, its fixed rate packages with either a three or five-year term offers the lowest rate in town at 0.88 per cent a year in the first year. As for its home loans that are pegged to interbank lending rates, Maybank is offering interest rate of 0.5 percentage points above the three-month Singapore Interbank Offer Rate or SIBOR for the first year. SIBOR is the rate at which Singapore banks lend to each other and is about 0.55 per cent today. Meanwhile, for its variable rate package, Maybank is offering interest rates that will start at 0.80 per cent a year. This is 2.95 percentage points lower than the Singapore Residential Financing Rate (SRFR) for the first year. SRFR is Maybank's board rate and it has been at 3.75 per cent since 2007. In another variable rate package, the bank is offering a S$5000 cashback with an interest rate of 1.3 per cent a year for the first year. Head of Consumer Banking, Maybank Singapore, Ms Helen Neo, says the fixed rate packages are very popular with customers as it gives certainty in financing their mortgage. Maybank adds that the new packages are in celebration of the Bank's 50th anniversary. As part of the ongoing celebration, it has launched a Privilege Plus Savings Account, a savings product for those aged 50 years and above. In addition, it has also launched Pocket Me GIRO, a cash incentive given to customers when they pay their credit card bills using GIRO through their Maybank current account or savings account. - CNA/ch Share this post Link to post Share on other sites
bepgof 20 Report post Posted August 28, 2010 (edited) Posted : 27 August 2010 1914 hrs Maybank Singapore offers new packages for home loans market By Ephraim Seow Maybank branch in Kuala Lumpur SINGAPORE : Maybank Singapore has raised the bar in the home loans market with its slew of latest offerings that include mortgage rates lower than one per cent in the first year. For instance, its fixed rate packages with either a three or five-year term offers the lowest rate in town at 0.88 per cent a year in the first year. As for its home loans that are pegged to interbank lending rates, Maybank is offering interest rate of 0.5 percentage points above the three-month Singapore Interbank Offer Rate or SIBOR for the first year. SIBOR is the rate at which Singapore banks lend to each other and is about 0.55 per cent today. Meanwhile, for its variable rate package, Maybank is offering interest rates that will start at 0.80 per cent a year. This is 2.95 percentage points lower than the Singapore Residential Financing Rate (SRFR) for the first year. SRFR is Maybank's board rate and it has been at 3.75 per cent since 2007. In another variable rate package, the bank is offering a S$5000 cashback with an interest rate of 1.3 per cent a year for the first year. Head of Consumer Banking, Maybank Singapore, Ms Helen Neo, says the fixed rate packages are very popular with customers as it gives certainty in financing their mortgage. Maybank adds that the new packages are in celebration of the Bank's 50th anniversary. As part of the ongoing celebration, it has launched a Privilege Plus Savings Account, a savings product for those aged 50 years and above. In addition, it has also launched Pocket Me GIRO, a cash incentive given to customers when they pay their credit card bills using GIRO through their Maybank current account or savings account. - CNA/ch Banks now "fighting" fierce like those once fast food restaurants did, don't who'll raise the white flag first. They see mortgage loan mkt a big pie, which may turn up to be "sour" & "bitter" when econ down, unemployment up, default payment up le.... Edited August 28, 2010 by bepgof Share this post Link to post Share on other sites
forgotten 1 Report post Posted August 28, 2010 Wah the interest rate is so low now. Will this blow a bigger property bubble? Share this post Link to post Share on other sites
bepgof 20 Report post Posted August 28, 2010 Wah the interest rate is so low now. Will this blow a bigger property bubble? Is quite a temptation to borrow which may lead to default payment later on, but MAS is in good steering of this. The "credit card" has caused many to be declared bankruptcy aleady. Default payment lead to forced selling, like our big brother is experiencing, chain effect/ball rolling effect all come. Then either print money and give away or "tighten the belt" or "bite the bullet". I think oriental prefer the belt & bullet, instead of throwing money down from helicopters(only gov can do this). Share this post Link to post Share on other sites
