Singapore is known as the ‘fine city,’ and if you are planning to buy your first house here, it may be challenging. However, there are about ten banks in Singapore that offer housing loans to individuals who are interested in purchasing homes for their own residential purposes or investment purposes. Here are the best five:
Top five banks offering home loan services in Singapore
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1) OCBC Bank
OCBC Bank has various types of housing loans available to help customers purchase their desired homes.
OCBC Personal Loan: This is a secured or unsecured loan that can be used for financing the purchase of first homes in Singapore, second-hand private property, and executive condominiums. It also comes with attractive repayment schemes which are tailored towards individual affordability levels.
OCBC Home Helper Loan: This is an unsecured loan that can be applied for financing the purchase of new launch projects and construction loans in Singapore, as well as upgrading works on existing properties.
OCBC Property Investment Loan: This is an unsecured loan that provides investors with attractive repayment schemes and no prescribed limit to the number of property investments they want to make. For more information about OCBC housing loans, please click here https://www.ocbc.com/personal-banking/loans/new-purchase-of-hdb-private-property.
2) POSB Bank
POSB is part of the DBS Group and is one of the most popular banks in Singapore, thanks to its convenient banking services for customers. It has various types of home loans available for customers, including the POSB HomeMortgage and Retirement Planning Loan
POSB Home Mortgage: This is a fixed-rate loan that can be used to finance your first home, second-hand private property, or executive condominiums in Singapore. It also has attractive repayment schemes based on customers’ affordability levels.
POSB Retirement Planning Loan: This is an unsecured loan with various repayment schemes for customers.
3) HSBC Singapore
HSBC offers a wide range of housing loans to individuals who are interested in purchasing homes. They have attractive interest rates and repayment schemes for different types of housing loans.
HSBC Personal Loan: This is a secured or unsecured loan that can be used for financing the purchase of first homes as well as second-hand houses in Singapore. It also has attractive repayment plans which are tailored to individual affordability levels.
HSBC Home Purchase Plan B Mortgage: This is an unsecured loan that can be used for financing the purchase of executive condominiums in Singapore. The bank also provides attractive repayment plans to help individuals with their repayment schedules.
4) DBS Bank
DBS Bank offers various types of housing loans to customers, including the DBS Housing Loan and DBS Property Investment Loan. The bank has a variety of attractive offers and promotions for customers who are interested in applying for mortgages with them.
DBS Housing Loans: This is an unsecured loan that is available to Singaporeans and permanent residents who earn a minimum monthly income of $7,000. The loan can be used to finance the purchase of first homes, second-hand private property, executive condominiums, and new launch projects.
DBS Property Investment Loan: This is an unsecured loan that allows investors to finance their investment properties with no specific limits on the number of properties they want to own.
5) UOB Bank
UOB provides customers with various types of housing loans for different purposes. For example, you can apply for a mortgage loan or an investment loan if you want to invest in properties.
UOB Mortgage Loan: This is a fixed- or variable-rate housing loan that can be used for financing the purchase of first homes, second-hand private property, and executive condominiums. It also has attractive repayment plans based on customer affordability levels.
UOB Investment Loan: This is an unsecured loan that allows customers to finance their investment properties with no specific limit on the number of properties they want to own.
Bottom line
If you are looking for a new home loan, it is important to compare the different services offered by the top five in Singapore. To learn more about various mortgages click here https://www.ocbc.com/personal-banking/loans/new-purchase-of-hdb-private-property .More specifically, by doing your research and asking around for recommendations, you should be able to find the best bank for your needs.
