New Home Loan Wizard

General Details

Loan Options

Loan Comparison Preview

Compare & Select Banks

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Step 1 2 3 4 5
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Property Type

Loan Packages differ between HDB and Private Property. There are also some packages that only apply to uncompleted property (Buildings Under Construction)

What is your property type ?




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Loan Amount & LTV Ratio

Banks lend up to 80% of the property valuation or purchase price (whichever is lower) for your first property and up to 60% for your second property onwards. Due to MAS regulations, there are no longer loan quantums of more than 80%.

What loan amount are you looking at applying for?

$
e.g. 300000, 100k, 1.2m

Loan to Value Ratio (%)

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Intended Purchase Date

If you have already purchased a property or are buying soon, you can expect a faster turnaround time if you make an enquiry. Banks usually revise the rates monthly.

When do you intend to purchase the property?






* If you are refinancing, use the Refinancing Wizard instead.
Continue to Step 2 »
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Lock-in Period

Lock-in packages tie you down contractually to prevent you from switching banks for the duration of the contract. Lock-in periods typically vary from 1-3 years. The longer your lock-in period, the lower the interest rates.

Are you ok with being locked in to potentially enjoy lower rates?


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Loan Tenure

Your Loan Tenure is the full duration of your loan. The maximum tenure is 30 years or until you turn 65, whichever is lower. Short loan tenures mean you pay less overall interest but incur higher monthly payments. Long Loan Tenures mean you incur lower monthly payments but will have to pay more overall interest.

Please select your Loan Tenure (years)

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Fixed Rates vs Floating Rates

Fixed rates means the interest rates are fixed to certain values and will not change for the period which it is fixed for.

Floating rates can fluctuate from month to month.

In Singapore, floating rates packages are usually pegged to Sibor rates. The Sibor rate is the rate at which banks lend to each other (bank’s cost price). Floating rate packages have additional percentage above the Sibor rates, known as the spread. The lower the spread, the better.

If you expect interest rates to rise during the next 2-3 years,you should take a fixed rate package. If you expect it to fall, floating rates may be more advantageous. If you are not one to regularly monitor the market, fixed rates would offer you peace of mind and you can rest assured of your monthly payment amounts.
more »

Are you interested in a fixed or floating rate package?


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Interest Offset Schemes

Some banks allow you to offset your interest by opening a current account with the same bank. By depositing some savings into this account every month, you can use the interest generated from this account to offset your mortgage interest.

Because it’s a current account, your money is not locked in and you are free to withdraw it at any time.

*Not all banks offer Interest Offset Schemes.

Are you interested in Interest Offset Schemes ?


Continue to Step 3 » « Back
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Articles that might interest you

How to lower home loan interest rates? More about Commercial Property Loan HDB Property Market in 2010 Things to Know about Business Loans How Inflation Rate Affects your Mortgage How to Save Money Through Refinancing Points to Consider before Refinancing Reasons to Refinance Your Home Loan



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What others are saying

  • "Best service I’ve come across. Keep it up!"

    Rajendran Saravanaprakash

  • "This is a very useful home loan comparison table. Save time going to each bank and check!"

    Wee Yam Hee

  • "Good starting point and information on the various parameters - useful and easy to understand."

    Watt Wai Mei

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