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131 replies to this topic | 49 praises

#1

Posted 07 March 2013 - 07:35 AM

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Thougt i start this on loans now and to monitor as well rates for vehicles and perhaps houses.

One thing that got me thinking is that loans form a core business with the legal ah longs...er banks.

One post i rem jamesc posted is that one ahs and shd be considerdd prett high on the list to be given a loan. Criteria? Choco can u elaborate? how does the bank deem if one is worthy or not?

Lets keep tis academic and focussed so ppl can discern n think of their own ability or liability before taking a loan.
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#2

Posted 07 March 2013 - 07:43 AM

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To those who do not believe in loans and only pay cash, kindly refrain from from posting lest you get tempted to only talk abt te disbenefits of loans. I will not hesitate to issue cards regardless!
RESPECT is only for the DEAD!
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#3

Posted 07 March 2013 - 09:00 AM

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To those who do not believe in loans and only pay cash, kindly refrain from from posting lest you get tempted to only talk abt te disbenefits of loans. I will not hesitate to issue cards regardless!


steady la...

Trottle...in your face!

#4

Posted 07 March 2013 - 09:07 AM

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steady la...

Trottle...in your face!


Fo breinhero with nonsense in this thread, congrats on card 2
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#5

Posted 07 March 2013 - 09:08 AM

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what are the possible avenues for finance companies to increase loan amount? car dealers partnering finance companies ? there are industrial machines leasing...how about for cars? maybe 8 years lease, and final last 2 years buy out (residual value)?
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#6

Posted 07 March 2013 - 09:10 AM

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Straight to the point, i like this style. Can someone advise me what is the interest rate for housing loan now? What are the different package available from banks? Is it wise to switch from HDB to bank loan?

#7

Posted 07 March 2013 - 09:12 AM

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Ya....i need to know too....to leverage on better offers
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#8

Posted 07 March 2013 - 09:16 AM

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Straight to the point, i like this style. Can someone advise me what is the interest rate for housing loan now? What are the different package available from banks? Is it wise to switch from HDB to bank loan?

i got from DBS in Jan 2013, 1.68% fixed for 5 years.

At that time, Citibank offers 1.38% fixed for 3 years. I think both DBS and Citibank package stillavailable. I didnt consider variable SIBOR pegged package even when i can save 0.4% per yeardue to personal view that interest rate hikes next year will be steep... also no more legal subsidies from banks, everytime refinance with different banks will incur legal fees around $3k and valuation fee another $300-1000.. no pointmove qaround too much.

Edited by Chucky2007, 07 March 2013 - 09:20 AM.

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#9

Posted 07 March 2013 - 09:18 AM

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Straight to the point, i like this style. Can someone advise me what is the interest rate for housing loan now? What are the different package available from banks? Is it wise to switch from HDB to bank loan?

for your Q on HDB loan switch to Bank, right now.. u may have missed the low interest for past 3-4 years. The rate might go up any moment next year to above 2% anyway. If i am having a HDB loan now, i will stay put with them. Somemore now no more valuation orLegal fee subsidiesfrom banks, so other than the interest saved, you have to factor in legal cost which is around 2k for HDB.

Edited by Chucky2007, 07 March 2013 - 09:19 AM.

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#10

Posted 07 March 2013 - 09:20 AM

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i got from DBS in Jan 2013, 1.68% fixed for 5 years.

At that time, Citibank offers 1.38% fixed for 3 years. I think both DBS and Citibank package stillavailable. I didnt consider variable SIBOR pegged package even when i can save 0.4% per yeardue to personal view that interest rate hikes next year will be steep.


My current loan with HDB will end in 3.5 yrs time. Do you think i can refinance with private bank and only take 3 yrs loan? Toying with the idea of saving a few K in interest.

#11

Posted 07 March 2013 - 09:21 AM

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Fo breinhero with nonsense in this thread, congrats on card 2


alamak....but truth be told...i have been behaving right?

#12

Posted 07 March 2013 - 09:21 AM

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i got from DBS in Jan 2013, 1.68% fixed for 5 years.

At that time, Citibank offers 1.38% fixed for 3 years. I think both DBS and Citibank package stillavailable. I didnt consider variable SIBOR pegged package even when i can save 0.4% per yeardue to personal view that interest rate hikes next year will be steep... also no more legal subsidies from banks, everytime refinance with different banks will incur legal fees around $3k and valuation fee another $300-1000.. no pointmove qaround too much.



Good info...but will they change so often?
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#13

Posted 07 March 2013 - 09:21 AM

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for your Q on HDB loan switch to Bank, right now.. u may have missed the low interest for past 3-4 years. The rate might go up any moment next year to above 2% anyway. If i am having a HDB loan now, i will stay put with them. Somemore now no more valuation orLegal fee subsidiesfrom banks, so other than the interest saved, you have to factor in legal cost which is around 2k for HDB.


Ai yo....so there is hidden cost. Thanks for sharing this info.

#14

Posted 07 March 2013 - 09:22 AM

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My current loan with HDB will end in 3.5 yrs time. Do you think i can refinance with private bank and only take 3 yrs loan? Toying with the idea of saving a few K in interest.

bank minimum loan is 5 years. if you left only 3.5 year loan left, your option is to lenghten the loan tenureto 5 years.
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#15

Posted 07 March 2013 - 09:22 AM

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alamak....but truth be told...i have been behaving right?

Who the fark ak u to instigatr?

T2 aldy peace and u still put fir....u wan to be under hiuse arrest?

Shows ur farking maturity
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#16

Posted 07 March 2013 - 09:24 AM

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bank minimum loan is 5 years. if you left only 3.5 year loan left, your option is to lenghten the loan tenureto 5 years.


If i take 5 yrs tenure, will there be penalty if full settle on 3rd year?

#17

Posted 07 March 2013 - 09:26 AM

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Who the fark ak u to instigatr?

T2 aldy peace and u still put fir....u wan to be under hiuse arrest?

Shows ur farking maturity


ok ok...

#18

Posted 07 March 2013 - 09:26 AM

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If i take 5 yrs tenure, will there be penalty if full settle on 3rd year?


yes...there is cancellaton fee and some admin fee.

#19

Posted 07 March 2013 - 09:28 AM

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Good info...but will they change so often?

bank adjusted their margin for SIBOR pegged package from 0.65-0.75%+SIBOR in Q1 2012 & before to now 0.9-1.1%+SIBOR since Q3 2012.

DBS fixed rate was 1.98-2.28% for 3 years, in 2010-2011 Q4.
In 2012 it was 1.5% fixed 5 years, then package change to 1.68% 5 years in Dec 2012.
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#20

Posted 07 March 2013 - 09:29 AM

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Ok man thks
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