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Showing results for tags 'loan'.
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was checking the MAS factsheet that was given to me by citibank. 1 mth sibor highest record in their factsheet is 20% in Jan-98. But i check everywhere, incl factsheet that other bank provided... never has 1mth sibor close the 10% mark..(MAS site) Either the factsheet bear incorrect information, or the citibank's sibor is higher than other banks. *pretty scary* if their sibor rate is higher than other bank even in the same given mth.
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Say for instance car's COE lifespan ends in 1 year, and just want something to drive for short term? Will banks do 1 year loan?
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MAS loan tenure updates lai liao
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pls advise. or regardless as long buying smaller flat or equivalent of what i bot 1st time, u need to pay resale levey? -
Hi need some advises from the bros here. I have a HDB loan with UOB bank with a outstanding amount of $150K (paid 4.5 yrs with balance of 5.5 yrs @float interest at 3.75%). I have a balance of $100K in my CPF account and i am thinking to make full payment from my CPF of 100K + cash of 50K, could someone advise me if this make sense? Can i use all the 100K in my CPF ord account for the full payment? Also i was told by UOB to get my own lawyer to settle the full payment, anyone has experience how i could go about and how much will the cost be? Does the lawyer assist in advising me how much in total i need to prepare for full settlement before i engage him/her? Thank you
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UNITED Overseas Bank (UOB) has introduced a home loan that spans half a century - likely the longest-term loan available here. UOB introduced this longer loan duration as more customers have been requesting for such loans. However, these loans come with conditions. 'This type of loan is applicable to private residential and HDB loans only,' said Ms Chia Siew Cheng, UOB's head of secured loans and personal financial services. As well, borrowers above a certain age are not eligible, but UOB declined to say what the cut-off age is. And if the property is leasehold, it needs to have at least 35 years left on the lease at the end of the 50-year loan. Ms Chia noted that the loan has its pros and cons. Having a longer term 'will result in a smaller monthly loan instalment and will be easier on monthly cashflows. However a longer repayment period also means that more interest will be payable'. Financial adviser Damian Pang warned that by taking on such a long-term loan, the homeowner will be servicing the loan long into his retirement years. A quick check with other banks here found that the longest loan term was 40 years. At OCBC, for example, the maximum loan period for private and HDB homes is 40 years, or up to the age of 75 years, whichever is earlier. At HSBC, customers with at least $200,000 with the bank can get loans of up to 40 years. Others can receive loans of up to 35 years, at the most. Even then, most customers opt for loans of just 30 years, said Mr Harmander Mahal, HSBC Singapore's head of customer value management. Only about 1 per cent of customers take up the 40-year loans. Longer-term loans require the borrower to pay a smaller sum each month. This gives consumers the confidence to purchase new homes, and could help to keep prices buoyant, said Mr Ku Swee Yong, the chief executive of International Property Advisor. 'It improves affordability, which means it is good for the housing market in general, not just developers.' Homeowner Edward Ti, 28, said he would certainly take up a 50-year loan for an investment property. 'I would take a 50-year loan if interest rates are low. I would think that it is more efficient to use the money saved from the monthly mortgages to do something else.' If a borrower takes out a 50-year loan for $1 million at an interest rate of 1.7 per cent, he would have to pay about $2,475 monthly for his mortgage, compared with $3,548 if the loan ran for 30 years. This is assuming a period of low interest rates. However, if interest rates rose, say to 3 per cent, the $1 million 50-year loan would mean monthly repayments of $3,220. [email protected] Paving the way for obscenely overpriced HDB flats. Be prepared to pay 1 million for a 4/5 Room HDB flat soon. So it's total slavery to your flat and many have to work till their last day with no retirement.
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I am just wondering what are the interest rates for car loan on offer in the market. For those that had just bought an Used Car, please share :) (1) Loan Amount (2) % of loan amount to Transacted car price (3) Tenure (How many years) (4) Interest (%) I hope this will help for those looking at buying an Used car, including myself in very veary near future. Thanks in advance for your contribution.
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when i took my car loan with the bank, i was given $3k "bonus" for a 7 year loan, which i used to offset my deposit/first payment for my car. now i left with half a year on my installments but according to the contract, if i do not complete the 7 years repayments, i will pay back the $3k. (even for early repayment). so lets say i want to change car now, will the dealers be able to work around this or i will still kenah the $3k penalty ? (actually i also only left about $3-4k on my loan repayment over the next 5 months)
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Car Loan Car loans are one of the most misunderstood loans as they are structured differently from a housing loan. People often claim that car loans which have 1-3% interest rates are very cheap, cheaper than housing mortgage interests in some countries, or is it? Car loan interests are calculated based on the principle for the whole tenure while housing loan interests are calculated based on the principal outstanding. A simple rule of thumb is that the car loan interest rate is nearly double in housing loan term rates! So a 3% car loan interest is actually closer to 6% if you want to compare to housing loan. Now you know why you should pay up your car loan as soon as you can. For those who live in the city like Singapore, public transport is a viable alternative. If you have to own a car due to work or so on, buying a second hand car can be a huge money saver as well.
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Hullo bros, I understand that for HDB loans there are no penalty for early redemption. Since home loans are based on reducing principle (right?) would I have paid out same amount based on either scenario below: Scenario A loan 10 years paid up 10 years exactly. Scenario B loan 30 years paid off in 10 years via early redemption. Thanks for advising!
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Hi Guys, Just want to check, if you have the cash, would it be more advisable to pay in full or still take loan when we buy a car? There are usually quite a number of rebates and freebies if you take loan...
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Just wanna find out if there are any minimum loan amount for car loans.. The banks might not find it profitable for small loan quantum especially in this low interest rates environment I am asking this becus currently considering to cash out from my MPV and switch to a older sedan. The cash will go towards the new car and hence lowering my monthly commitments.
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Could i just ask if any bro here assist me for a minute,the loan amt 54k, interest at 2% per annum for 7 years,whats the full settlement figure after deducting 13mths paid up installment cause i use the dbs calculator hard to get a figure. thank you.
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Advice for selling Swift and buying Koup (Loan)
Tubecreamer posted a topic in General Car Discussion
need some advice. I wish to sell my coming to 5 year old swift 1.3 auto, bot in 2007 June for 55k, down 10k, COE abt 15k. 10 yrs loan, monthly abt 450. Now selling in sgcarmart for about S$36K. A 2009 Koup is about 75k. May I know how much do I need to topup or pay mthly and the fees incurred if I buy the koup, thanks -
A place he can call home By Gerald Goh The New Paper Wednesday, Mar 28, 2012 Being a financially prudent person led to him finally being able to afford his first bachelor pad more three years ago. Local comedian-host and Gold 90.5 DJ Hossan Leong told The New Paper: "Getting my own place for the first time was a major step forward in my life. "I'd always been renting a place to stay and it was quite unsettling to me over time, as I didn't have a place I could call my own. "I'm a natural saver. I find it quite gratifying to see my savings grow, so when I found the perfect place to stay, I said to myself, why not put those savings to good use?" Leong used his Central Provident Fund savings (in his Ordinary Account) and was able to make the 20 per cent downpayment. The 42-year-old's two-bedroom apartment near City Square Mall cost around $800,000, a sum that will be paid for with the aid of a 30-year housing loan. Leong added that even though the apartment was completed in July last year, he could only move in November as he had to see out the remainder of his rental contract with his landlord. "Housing in Singapore is really hard for the less affluent segments of society to afford. "It's been reported recently that a person who earns less than $1,000 a month is able to own a two-room Housing Board flat. "That may be technically possible, but I imagine he or she will have to spend almost every cent of their remaining income just to meet daily expenses. "Will the person have anything left over to save? " Leong also counts his endowment insurance plan, which his mum got for him as a child, as part of his saving strategy. "It's a good way to 'force' me to save about $100 each month," he said, adding that he took over the premiums from his mother when he was in his early 20s and started work as an actor. "The policy will mature in my 50s. It will include not only the accumulated interest, but also a yearly bonus." He added: "Saving some of what you earn each month isn't just for old age. "If something catastrophic happens to you and you're unable to work for a period of time, can you survive on what you've saved in the bank? "I feel you should save enough to prepare for a possible down period of at least half a year, should anything happen to you - touch wood! - and you are unable to earn an income." Working hard for the money Which could explain why Leong has packed his schedule to the brim. He was recently a guest judge during the auditions of the youth talent search competition okto Star and will be hosting a short segment of the local game show We Are Singaporeans at Singapore Day 2012 in New York in April. But his main job is still helping to run communication agency Paul Carr Consultancy, which he co-founded with friend and business partner Paul Carr. After the company's expenses have been accounted for, Leong pays himself a monthly salary of about $4,000. "Having a company to run helps me control my spending, as I'm responsible not only for my own personal finances but for my company's finances as well." And though he used to spend heavily on clothes before, that's a thing of the past, he says. "As I grew older, I thought to myself that I don't really care how many branded shirts I have any more. "Does anyone else honestly care if I wear branded clothes or not? The answer is no." This article was first published in The New Paper.
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hi all seeking your opinions on buying Term CI coverage where the coverage will reduce every year. This is a CI rider tying in with a mortgage reducing-term loan. Pay $360 premimum per year for $150K CI coverage, where the CI coverage reduce per year while the $360 premium remains the same. Wise move? pls advise.
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Does this mean I can loan the pro rated 3 year value of a Porsche. Say a $350,000 Panemera. Can loan only the 3 years portion of its worth? No need to take the full $350,000 loan?? Sounds like a good deal. http://motoring.asiaone.com/Motoring/News/...112-321364.html Porsches more affordable with new financing scheme SINGAPORE - German sports car maker Porsche's financing arm is teaming up with Hong Leong Finance to enter the high-value car loan business here, reported The Straits Times. Under the scheme -
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hi, anyone got contacts for coe car loan? hopefully got some good lobangs =) what is the interest rate now for coe car loan? thanks in advance.
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If my car is still balance 5yrs loan. Can i trade in? or do i need to clear my loan? Just need some advise....
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ST Forum Unbundle COE from car loan CERTIFICATE of entitlement (COE) prices have seen phenomenal increases across most categories during the past months ('Inflation likely to remain high next few months: MAS'; last Saturday). Many car dealers bundle COE premiums with the cost of vehicles and offer loans of up to 90 per cent to car buyers. This practice in effect facilitates would-be car owners to secure COEs through financing, which does not make a lot of sense since the very intent of the COE scheme is to deter car ownership. Given the low interest rates and ease of financing, new car owners have no qualms about taking a higher quantum of car loan, which in turn pushes COE prices up. The Land Transport Authority and the relevant authorities should review this practice and disallow COEs from being included in the quantum of car loans. Perhaps this may help bring some sanity to the price of a licence to buy a car. Tan Beng Guan
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Hi all, I'm thinking of re-financing my HDB loan. Outstanding loan $400k. combined salary v high. Lol. Any recommended bank loan ? How about Maybank? Hong Leong?
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I will be buying a secondhand car from direct owner soon, hence I am looking for someone to help do car ownership transfer and co-share loan commission (>60k loan). Understand that car direct sellers sometimes receive SMSes from third parties providing free ownership transfer service in return for a cut of the loan commission. Anyone has their contacts, can PM me? Many thanks!! -
Hi Guys, Bear with me. Another ignorance question. XXX bank just called and informed me that my car loan has been approved. However, the amount they will loan me is 29.5K from the initial loan submission request of 31.5K. I understand that for purchase of 2nd hand car, the amount loan is normally not 100% of the purchased price 41.5K? I have actually made a downpayment of 10K on the 41.5K purchased price which means my loan amount will only be 31.5K. Any possible reason why the XXX Bank didn't approve my submission request of 31.5K and only approved 29.5K despite a 10K downpayment from my end? Or could it be the 2K will go to the dealer? Does that means i have to top up another 2K to match the loan submission of 31.5K? I've 2 more application's pending and still awaiting for their reply. Sorry, very green in buying 2nd hand car... Thanks!
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fellow bros, hope u guys dun find me Bo Liao asking for the formula to calculate car loan interest... Juz went thru my car documents and found out the interest I'm paying is rather high... So would like to ask for the calculations... Below mention are the costs.. interest rate is 1.75%. I bought the car at 47k and paying monthly interest of 591 for 90 mths...
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Hi bros and sisters, I'm thinking of buying a new car which costs about 100k. Should I pay full or take loan since the interest rates are so low now. I think this is a common situation which sometimes gets difficult to decide. Any views? Many thanks for your ideas. I hope other forum users will find your views helpful when deciding also.
