Need Advice! Is DBS Home Loan package the best now?

Hi, was wondering if anyone can advice me on which bank has the best home loan package now. I'm not familiar with SIBOR, SOR and this is my first time buying a resale private property. My last decision was DBS which is offering fixed 1.99% for first 3 years, with no lock-in or pre-payment penalty. But I feel this package is good if property is going to pick up, however, there has also been sentiments that next yr property prices will drop and hence interest rates may also drop. So not sure if I should go for a SIBOR/SOR packages instead.

Any advice is appreciated. Thanks!

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Originally Posted by penguin

Hi, was wondering if anyone can advice me on which bank has the best home loan package now. I'm not familiar with SIBOR, SOR and this is my first time buying a resale private property. My last decision was DBS which is offering fixed 1.99% for first 3 years, with no lock-in or pre-payment penalty. But I feel this package is good if property is going to pick up, however, there has also been sentiments that next yr property prices will drop and hence interest rates may also drop. So not sure if I should go for a SIBOR/SOR packages instead.

Any advice is appreciated. Thanks!

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DBS offered you fixed rate of 1.99% for first 3 years with no lock-in or prepayment penalty? I think this is amongst the best rate in town.

The other two comparable rate would be Maybank 1.6% 1st yr, 2.2% 2nd yr & 2.9% 3rd yr (3 years lock-in) and StndChart 1.5% 1st yr, SIBOR + 1.35% for subsequent years (2 yrs lock-in)

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Originally Posted by penguin

Hi, was wondering if anyone can advice me on which bank has the best home loan package now. I'm not familiar with SIBOR, SOR and this is my first time buying a resale private property. My last decision was DBS which is offering fixed 1.99% for first 3 years, with no lock-in or pre-payment penalty. But I feel this package is good if property is going to pick up, however, there has also been sentiments that next yr property prices will drop and hence interest rates may also drop. So not sure if I should go for a SIBOR/SOR packages instead.

Any advice is appreciated. Thanks!

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When the economy is in doldrum, the inter-bank lending rates are lowest now. Studies shown for the past 10 yrs the rate is almost stable with minor fluctuations +/-.

In fact recently there are many banks ride on the SIBOR and offer to the public very attractive rates.

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Originally Posted by dove

DBS offered you fixed rate of 1.99% for first 3 years with no lock-in or prepayment penalty? I think this is amongst the best rate in town.

The other two comparable rate would be Maybank 1.6% 1st yr, 2.2% 2nd yr & 2.9% 3rd yr (3 years lock-in) and StndChart 1.5% 1st yr, SIBOR + 1.35% for subsequent years (2 yrs lock-in)

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UOB is offering SOR+0.68 1st year, SOR+0.85 2nd year. 2 years lock in.
i think this is the best package so far.

What is their SOR now?

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Originally Posted by flaro

UOB is offering SOR+0.68 1st year, SOR+0.85 2nd year. 2 years lock in.
i think this is the best package so far.

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Originally Posted by teddybear

What is their SOR now?

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SOR is 0.69 for 3 mth fixing
can check biz time for the rate

So UOB is offering SOR+0.68 1st year = 0.69+0.68=1.37%? That is really very low! :eek:

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Originally Posted by flaro

SOR is 0.69 for 3 mth fixing
can check biz time for the rate

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Originally Posted by penguin

Hi, was wondering if anyone can advice me on which bank has the best home loan package now. I'm not familiar with SIBOR, SOR and this is my first time buying a resale private property. My last decision was DBS which is offering fixed 1.99% for first 3 years, with no lock-in or pre-payment penalty. But I feel this package is good if property is going to pick up, however, there has also been sentiments that next yr property prices will drop and hence interest rates may also drop. So not sure if I should go for a SIBOR/SOR packages instead.

Any advice is appreciated. Thanks!

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Interested to find out more from you on the fixed 1.99% for 3 yrs with no lock-in or prepayment penalty. How much is yr loan amt e.g below 500k, between 500k to 1 mil or above 1 mil?

I called DBS but they told me no such package!! Dun mind sharing which branch & the officer name. Many thanks.

See also recent article : http://www.asiaone.com/Business/News...610-69974.html

Actually, I feel UOB's SOR package seems pretty good for now. But I'm just not sure how much will SOR rise (if property really picks up). Hear just 2 mths ago, SOR was 1.7, which means it can fluctuate quite a lot. So I will just go ahead with DBS's package.

DOVE, my loan is about 500K, and I'm not refinancing. If you're keen on the DBS fixed rate package, you can contact Winston from Bishan Juction 8 branch. :)

DBS interest rates of
1st yr CPF home rate (2.5%) + 0.05%
2nd yr CPF home rate (2.5% + 0.15%
3rd yr CPF home rate (2.5%) + 0.25%
4th yr CPF home rate (2.5%) + 0.45%
5th yr onwards, CPF home rates (2.5%) + 1.25%

Any comment? is this good? Need some advice from readers here..

thanks..

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Originally Posted by penguin

Actually, I feel UOB's SOR package seems pretty good for now. But I'm just not sure how much will SOR rise (if property really picks up). Hear just 2 mths ago, SOR was 1.7, which means it can fluctuate quite a lot. So I will just go ahead with DBS's package.

DOVE, my loan is about 500K, and I'm not refinancing. If you're keen on the DBS fixed rate package, you can contact Winston from Bishan Juction 8 branch. :)

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I am also looking for a housing loan, first time buyer too. DBS's package looks attractive. Is there a number to call or email for Wilson?

Heya, not so good to put his handphone number here. You can call Bishan DBS branch and look for Winston.

Think given the current property market, my personal opinion is that it's safer to go with fixed rates.

The DBS package is 1.99% fixed for the first 3 years. There is a lock-in of 3 years but if the full redemption is due to sale of property (and not refinance) then there is not penalty. There is also no penalty for partial redemption.

But the promotion package has since stopped sometime before end of Jul. I understand that it was so overwhelmed that the bank jammed brake abruptly.

Wah so fast! So what is best fixed rate and SIBOR-linked rate available now?

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Originally Posted by sclassic

The DBS package is 1.99% fixed for the first 3 years. There is a lock-in of 3 years but if the full redemption is due to sale of property (and not refinance) then there is not penalty. There is also no penalty for partial redemption.

But the promotion package has since stopped sometime before end of Jul. I understand that it was so overwhelmed that the bank jammed brake abruptly.

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Just heard that DBS 3yr loan package with 1.99% fixed rate is no longer available. Instead, the new 3yr package is now offered with 1.99% in YR1, 2.19% in YR2, and 2.29% in YR3..

I understand that previously DBS also has a 5-year loan package with 2.5% fixed rate. Is this still available or interest rate has increased as well?

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Originally Posted by olofkim

Just heard that DBS 3yr loan package with 1.99% fixed rate is no longer available. Instead, the new 3yr package is now offered with 1.99% in YR1, 2.19% in YR2, and 2.29% in YR3..

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Originally Posted by teddybear

I understand that previously DBS also has a 5-year loan package with 2.5% fixed rate. Is this still available or interest rate has increased as well?

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Latest I got from DBS as of last week is 5 years fixed at 2.65%

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Originally Posted by sushi

Latest I got from DBS as of last week is 5 years fixed at 2.65%

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for resale only or subsale also can? allow partial repayment?

Thanks! So the interest has gone up slightly.

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Originally Posted by sushi

Latest I got from DBS as of last week is 5 years fixed at 2.65%

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