Updated January 2, 2023
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Terms & Conditions
Singapura Finance was launched in 1950 and has been in operation for over 5 decades. It is one of the active and innovative financial service providers in Singapore. After its launch, Singapura pioneered long-term mortgage loan plans and has developed various financial services for its clientele.
The loans offered by this innovative bank can cover 75% of your property’s value for 35 years. However, Singapura has expensive interest rates that may not be comfortable. So, it is likely not the best option for loan-seekers.
Singapura designed a unique feature called monthly rest rate that allows interest to be calculated after monthly installments. Thus, your average monthly interest will gradually reduce. Singapura Finance’s annual average interest rates are 2.08%- 2.30%. Therefore, its loans are not very affordable when compared with its competitors. For instance, a long-term loan of 25 years will result in a cost that is approximately S$150,000 more than the costs in other affordable banks. If you don’t have a problem with the total cost, Singapura offers a bridging loan that allows borrowers to make an initial deposit for their new home before receiving the funds from their previous home sale.
Several fees connect to Singapura loans. If your GIRO deposit is rejected for your monthly installments, a service fee of S$50 will be required. In addition, a S$50- S$200 fee will be charged if the bank demands loan-related documents.
Singapura Finance HDB loans are higher than the loans of other service providers. A lock-in period of two years with an annual interest rate of 2.28% may not be convenient to the average borrower.
| Bank | 1st Year Interest | Lock-in Period |
| No offerings at this time | ||
As earlier stated, Singapura has high-end annual interest rates of 2.28%, which also applies to their private home loans. Although they offer bridging loans with a mortgage duration of 35 years ( which is 5 years more than the standard duration), the lock-in period and costly interest rates may be discouraging to clients.
| Bank | 1st Year Interest | Lock-in Period |
| No offerings at this time | ||
Once your application is live you will be able to review suitable loan options on your dashboard. One of our
mortgage brokers will follow up with you to discuss the best available options and next steps.
After you’ve decided on a preferred mortgage option one of our mortgage brokers will help process your
application.
Settle all fees (option fee, option exercise fee to the seller as well as the relevant buyer’s stamp duty fee in
case you are purchasing a private property).
Attent your property purchase appointment date and sign all legal documents for the transfer of the property,
paying all legal and valuation fees.
Ideal for Individuals looking for loans with a 35-year duration.
Inapplicable to borrowers interested in cheap mortgages
Unsuitable for Individuals interested in refinancing plans
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