read through the terms. Not sure if it has been changed already since SOR loans not too good for the bank already.

During my time when i signed up in Apr11, i know that:

- there was no early redepemption penalty fee

- Free 2,500 lawyer's fee when processing the loan. We are free to choose any lawyer. The law firm will just bill ANZ directly

- If refinance/redeem the loan less than 2 or 3yrs, need to pay back the lawyers fee, that's all.

- The actual interest rate is determined every quater and will be used as the interest rate for that 3mths.

You need to see whether you are the kind who can take risks or not. Got kiasee singaporeans not willing to bet on such stuff so they just continue to pay HDB 2.6%, but do note that, HDB might not increase interest rates when bank rates go up. But it doesn't mean it WOULDN'T increase, there is still the potential for it to increase.

Look at the US market now, how long do you think it'll take to clean up its mess? my view is 5-10yrs minimum because they have been on credit steroids for too long. And on this side of the world, Singapore has the intention to fight inflation by continuously increasing exchange rates. So one will see more money/funds moving to SG/Asia, this will be factor that keeps SOR low.

It's true housing loans are 30yrs. But nothing is certain in life and cast in stone. So one should be able to make calculated risks in such matters and measure the upside and downside.

read through the terms. Not sure if it has been changed already since SOR loans not too good for the bank already.

During my time when i signed up in Apr11, i know that:

- there was no early redepemption penalty fee

- Free 2,500 lawyer's fee when processing the loan. We are free to choose any lawyer. The law firm will just bill ANZ directly

- If refinance/redeem the loan less than 2 or 3yrs, need to pay back the lawyers fee, that's all.

- The actual interest rate is determined every quater and will be used as the interest rate for that 3mths.

You need to see whether you are the kind who can take risks or not. Got kiasee singaporeans not willing to bet on such stuff so they just continue to pay HDB 2.6%, but do note that, HDB might not increase interest rates when bank rates go up. But it doesn't mean it WOULDN'T increase, there is still the potential for it to increase.

Look at the US market now, how long do you think it'll take to clean up its mess? my view is 5-10yrs minimum because they have been on credit steroids for too long. And on this side of the world, Singapore has the intention to fight inflation by continuously increasing exchange rates. So one will see more money/funds moving to SG/Asia, this will be factor that keeps SOR low.

It's true housing loans are 30yrs. But nothing is certain in life and cast in stone. So one should be able to make calculated risks in such matters and measure the upside and downside.

You're right! Bank loan is meant for people who dare to take risk.. We have decided to use HDB loan.

Had sign OTP for the new house.

Now praying hard my current house is able to sell at a good price.

U should repetition this warning to all belongings counters esp the GLCs equivalent Kland, Cland, CapMall, quality all recorded GLCs similar Kepcorp, Semmarine, Semcorp, SIA Sound and Affirm, Starhub, M1, DBS...In the casing if commodity prices gravitation, the Banks. will be stirred. if you are prepared to head a anticipate, go try out ANZ's residence loan. I got 3mths SOR + 0.75% for all 30yrs. No refinance penalization also .HDB give is not a favour for thing. yes, cant rates are modify NOW, but do deal state, Structure loans are for 20 - 30 years, which valuate testament be much stable or HDB give? If I'm on it, I leave never refinance out to cant for whatsoever reasonableness, coz it gives me a serenity of intention.

Pontiac Power Steering Gear Box

You're right! Bank loan is meant for people who dare to take risk.. We have decided to use HDB loan.

Had sign OTP for the new house.

Now praying hard my current house is able to sell at a good price.

I don't understand why a "bank loan is meant for people who dared to take risk"? If a bank is offering a lower interest rate than HDB, then to me why not? But it is true that a bank is quicker to react (and act) when a loan repayment date has lapsed, when compared to HDB.

If indeed that banks are financing more "risk-taking" people for housing, I don't believe that the interest rates offered can be lower than HDB's.

Cheers!

I've just got a reply from a banker...she said the rate of 5 years is 2.98%. Why is DBS rate so low?

Refinanced with same bank with the following package:

1yr = 3mth Sibor + 0.65%

2yr = 3mth Sibor + 0.7%

3yr = 3mht Sibor + 0.7%

Lock-in period 2yr.

Thanks guy for your feedback.

hi, i also need to borrow from bank for my next resale ... but dont understand at all the loan packages ???

what does above means ?? 1yr = 3mth Sibor + 0.65%

Can someone explain with an example ( thank you very much in advance )

I got 1 from DBS ( 3 yrs fixed rate ) :

Yr 1 = 1.18% fixed

Yr 2 = 1.68% fixed

Yr 3 = 1.98% fixed

Yr 4 = 3M Sibor + 1.25%

Yr 5 = 3M Sibor + 1.25%

Thereafter = 3M Sibor + 1.25%

Commitment Period = 3 yrs

Clawback Period = 3 yrs ( what is this ???)

Can experts pls enlighten me ??? what is SIBOR ?

hi, i also need to borrow from bank for my next resale ... but dont understand at all the loan packages ???

what does above means ?? 1yr = 3mth Sibor + 0.65%

Can someone explain with an example ( thank you very much in advance )

I got 1 from DBS ( 3 yrs fixed rate ) :

Yr 1 = 1.18% fixed

Yr 2 = 1.68% fixed

Yr 3 = 1.98% fixed

Yr 4 = 3M Sibor + 1.25%

Yr 5 = 3M Sibor + 1.25%

Thereafter = 3M Sibor + 1.25%

Commitment Period = 3 yrs

Clawback Period = 3 yrs ( what is this ???)

Can experts pls enlighten me ??? what is SIBOR ?

Sibor stands for Singapore InterBank Offered Rate , Read this: http://en.wikipedia.org/wiki/SIBOR

Daily rate of sibor fluctuates a lot at different time within day. To make it "smooth", there are 1,3,6,9,12 month moving average offers in the market. Believe you understand what is moving average. (1+2+3+...30)/30 = MA1, (2+3+4+...31)/30 = MA2, so on and so forth. Read this useful link.

http://smp-consulting.com.sg/smpc/?option=com_content&view=article&id=62

Commitment period = clawback period = lock-in period. Meaning that within this sipulated period, if you make a FULL Redemption to the loan amount, then the borrower will be subjected to some "penalty", could be in term of those "freebie" when sign up the package. After this period, you are "free" to terminate the package and switch to other package with other banks....

http://www.homeloan.com.sg/bestrate.html

Usually, for sibor or sor, there come no lockin period. Of course, there follow some other T&Cs.

Tot I studied accounting & finance, like you, when I first took bank loan, also blur blur, later read up slowly bit by bit. Now I'm having 3rd bk loan.

Sibor stands for Singapore InterBank Offered Rate , Read this: http://en.wikipedia.org/wiki/SIBOR

Daily rate of sibor fluctuates a lot at different time within day. To make it "smooth", there are 1,3,6,9,12 month moving average offers in the market. Believe you understand what is moving average. (1+2+3+...30)/30 = MA1, (2+3+4+...31)/30 = MA2, so on and so forth. Read this useful link.

http://smp-consulting.com.sg/smpc/?option=com_content&view=article&id=62

Commitment period = clawback period = lock-in period. Meaning that within this sipulated period, if you make a FULL Redemption to the loan amount, then the borrower will be subjected to some "penalty", could be in term of those "freebie" when sign up the package. After this period, you are "free" to terminate the package and switch to other package with other banks....

http://www.homeloan.com.sg/bestrate.html

Usually, for sibor or sor, there come no lockin period. Of course, there follow some other T&Cs.

Tot I studied accounting & finance, like you, when I first took bank loan, also blur blur, later read up slowly bit by bit. Now I'm having 3rd bk loan.

bepgof, thank-you you again ...

Sibor stands for Singapore InterBank Offered Rate , Read this: http://en.wikipedia.org/wiki/SIBOR

Daily rate of sibor fluctuates a lot at different time within day. To make it "smooth", there are 1,3,6,9,12 month moving average offers in the market. Believe you understand what is moving average. (1+2+3+...30)/30 = MA1, (2+3+4+...31)/30 = MA2, so on and so forth. Read this useful link.

http://smp-consulting.com.sg/smpc/?option=com_content&view=article&id=62

Commitment period = clawback period = lock-in period. Meaning that within this sipulated period, if you make a FULL Redemption to the loan amount, then the borrower will be subjected to some "penalty", could be in term of those "freebie" when sign up the package. After this period, you are "free" to terminate the package and switch to other package with other banks....

http://www.homeloan.com.sg/bestrate.html

Usually, for sibor or sor, there come no lockin period. Of course, there follow some other T&Cs.

Tot I studied accounting & finance, like you, when I first took bank loan, also blur blur, later read up slowly bit by bit. Now I'm having 3rd bk loan.

A helpful post.

Sibor stands for Singapore InterBank Offered Rate , Read this: http://en.wikipedia.org/wiki/SIBOR

Daily rate of sibor fluctuates a lot at different time within day. To make it "smooth", there are 1,3,6,9,12 month moving average offers in the market. Believe you understand what is moving average. (1+2+3+...30)/30 = MA1, (2+3+4+...31)/30 = MA2, so on and so forth. Read this useful link.

http://smp-consultin...w=article&id=62

Commitment period = clawback period = lock-in period. Meaning that within this sipulated period, if you make a FULL Redemption to the loan amount, then the borrower will be subjected to some "penalty", could be in term of those "freebie" when sign up the package. After this period, you are "free" to terminate the package and switch to other package with other banks....

http://www.homeloan....g/bestrate.html

Usually, for sibor or sor, there come no lockin period. Of course, there follow some other T&Cs.

Tot I studied accounting & finance, like you, when I first took bank loan, also blur blur, later read up slowly bit by bit. Now I'm having 3rd bk loan.

haha same...need to read slowly to understand

SOR and Sibor climbing. 3M Sibor 0.39%, 1M SOR 0.4%.

Saw a 1mth SOR promo package

1st yr: SOR + 0.5%

2nd yr: SOR + 0.75%

3rd yr: SOR + 1.25%

3M Sibor remain 0.38%, while 1M SOR drops to 0.23%

DBS has a package 3M Sibor + 0.65%, 2 yr lockin.

Just confirmed my loan from DBS too.

0.75% + 1M sibor (through out) with no lock-in.

My loan: 1 mth Sibor + 0.65%

My loan: 1 mth Sibor + 0.65%

mind telling which bank?

most are quoting 70-80 bp above SIBOR