Hi,
It depends on the loan tenure as well. The savings are substantial if bank interest rates maintain below 2.6% (hdb interest rate) throughout the term. I can draw up a schedule to show you the differences, over time bank loan will save more.
The lock in period means the interest rates are fixed at 1.5% pa for year 1 to year 5. You can choose to do redemption once the lock in period is over, and typically there is no penalty for that.
May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.
Warm Regards,
Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever
ERA Top 11 Achiever in June 2020 (Top 1% Company Level)
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ERA Top 15 Achiever in April 2019 (Top 1% Company Level)
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ERA Top 510 Achiever in Year 2019 (Top 8% Company Level)
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-- HDB Yishun BTO 5-RM Sellers, Private Property Upgraders Mr. & Mrs. Koh --
I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan.
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