HSBC Refinancing Loans

HSBC Refinance Home Loan Rates (March 2024)
(Product Review)

Updated March 4, 2024

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Current HSBC Refinancing Rates

Today's HSBC refinance mortgage interest rate trends in Singapore - As of Monday, March 4th, 2024, HSBC’s interest rates for financing a 30-year fixed home loan stands at N/A for private properties and N/A for HDB’s. In terms of floating rates, HSBC’s lowest refinancing interest rate for private properties stands at N/A and N/A for HDB’s.

Product Review

HSBC, an acronym for Hong Kong and Shanghai Banking Corporation, is a globally renowned bank with a prominent presence in Singapore. In fact, HSBC is one of the leading mortgage providers in the country, with an estimated S$7.7 billion in outstanding home loans in 2017.

For individuals seeking affordable home loans in Singapore, HSBC offers some of the most competitive interest rates and loan costs. The bank’s Smart Mortgage package, for instance, is an interest-offset account that helps borrowers repay their loans with ease. HSBC also offers a range of other financial products and services, including loans, mortgages, savings plans, investments, and credit cards, tailored to the needs of Singaporean subscribers.

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HSBC’s dedication to its clients’ comfort is evident in its unique banking services. The bank’s home loan program allows borrowers to choose from fixed rates, SIBOR-pegged home loan rates, or time deposit-pegged mortgage rates. This flexibility enables prospective home buyers and current homeowners to conveniently choose a satisfactory rate that suits their financial needs.

While HSBC’s local marketing strategy is more focused on business enterprises and affluent individuals, its regular home loans remain among the most affordable interest rates in Singapore for both HDB and private property loans.

One of the standout features of HSBC’s mortgage offerings is the Smart Mortgage programme. This innovative system allows borrowers to cover their mortgage rates with the interest received from the linked deposit accounts of the loan subscribers. As a result, borrowers can save more money with HSBC’s Smart Mortgage package, along with other premium benefits and privileges.

Individuals interested in loans with accessible total interest costs are advised to consider HSBC, while those searching for home loans with frequent refinancing may find other options more suitable to their needs. Overall, HSBC’s commitment to the mortgaging industry in Singapore is evident, making it a top choice for many Singaporean borrowers. If you’re interested in learning more, visit your nearest HSBC branch today.

HSBC’s Applicable Mortgage Fees

Similar to standard banks registered in Singapore, HSBC demands certain service fees like partial repayment, complete recovery and termination penalties for its home loans. These fees have similar prices to other Singaporean banks. The full details of each charge are listed in the table below.

Loan Type Partial Repayment fee Full Redemption Pinalty Cancellation Fee
Completed Homes 1.5% 1.5% 1.5%
Buildings Under Construction N/A N/A 1.5%

HSBC Refinancing Home Loan Interest Rates

HSBC usually offers manageable home loan refinancing bundles. Its floating rates and fixed rates are among the lowest in the market. However, in April 2018, its floating rates became more affordable. This highlights the importance of comparing the interest rates of different banks before deciding on the refinance plan that suits your needs.

HSBC Refinance HDB Home Loans

  • Fixed Rates
  • Floating Rates
Bank Scheme Lock In Period 1st Yr Interest 2nd Yr 3rd Yr 4th Yr
No data found

Bank Scheme Lock In Period 1st Yr Interest 2nd Yr 3rd Yr 4th Yr
No data found

*Today's Mortgage Rates - 04 March 2024

HSBC Refinance Private Property Home Loans

  • Fixed Rates
  • Floating Rates
Bank Scheme Lock In Period 1st Yr Interest 2nd Yr 3rd Yr 4th Yr
No data found

Bank Scheme Lock In Period 1st Yr Interest 2nd Yr 3rd Yr 4th Yr
No data found

*Today's Mortgage Rates - 04 March 2024

When considering fixed-rate loans, it is advisable to seek loans with the most reasonable total interest cost, moderate monthly instalments and refinancing flexibility. Home loans with fixed rates have fixed interest rates reaching 3-5 years. After their life span has been exhausted, the rates begin to float.

Additionally, HSBC offers credits for the legal costs associated with refinancing one’s home loan. The bank offers S$2,000 to borrowers that want to refinance loans with S$500,000 or more. However, this is not satisfactory to borrowers that plan to refinance loans of less than S$500,000.

PROMOTIONS

APPLICATION PROCESS

  • Launch Application via the ROSHI Marketplace

    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.

  • Choose Suitable Mortgage Option

    After you’ve decided on a preferred mortgage option one of our mortgage brokers will help process your
    application.

  • Settle Fees & Charges

    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).

  • Appointment Date & Signing

    Attent your property purchase appointment date and sign all legal documents for the transfer of the property,
    paying all legal and valuation fees.

PRODUCT HIGHLIGHTS

  • Low Cost of Loans

    Convenient for Individuals seeking home loans with low total cost of borrowing

  • Low Interest Rates

    Suitable for borrowers seeking some of the lowest interest rates available

  • Interest-Offset Account

    Ideal for Individuals who want an interest-offset account for their private home loan

  • Lower Refinance Loans

    Unsuitable for borrowers interested in refinancing loans of less than S$500,000

ALL DETAILS

Loan Features
  • Affordable home loans with low total mortgage cost
  • Legal Fee Subsidies: S$2,000 (for loans of at least S$500,000)
  • Minimum loan principal: S$200,000
  • Innovative loan programmes like Smart Mortgage, interest-Offset account and many more

EXTERNAL REVIEWS

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