Tag Archives: interest

What is housing loan amortization?

Most car loans are based on simple interest (Loan Amount x Interest Rate x Loan Tenure), which means even if you made an early full loan redemption, you still pay the same amount of interest to the lender.  On the other hand, Amortized loan such as a mortgage loan, interest is charged till the point […]

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Inter-bank rates July 2016

Here are the rates for July 2016. * Rates are rounded to the nearest 2 decimals.

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Inter-bank rates June 2016

Here are the rates for June 2016. * Rates are rounded to the nearest 2 decimals.

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Inter-bank rates May 2016

Here are the rates for May 2016. * Rates are rounded to the nearest 2 decimals.

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Inter-bank rates April 2016

Here are the rates for April 2016. * Rates are rounded to the nearest 2 decimals.

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Mortgage Loan Terms – What does it mean?

Here are the explanation for the different terms you would commonly see in a bank’s letter of offer. 1.Commitment Period (Lock-in Period) 2.Cancellation fee 3.Interest Review Date 4.Loan commencement date     Commitment Period (Lock-in Period) Like signing a mobile phone contract from a telco, you are “stuck” with the bank for that particular period. […]

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UOB is the latest bank to offer Mortgage Loan pegged to Fixed Deposit Rate

Since 2007, the mortgage market is dominated by mainly Sibor/SOR, Fixed Rate and board rate package. In 2014, DBS is the first bank to offer mortgage loan package pegged to their fixed deposit rate (FHR). In late 2015,  OCBC launched their own version called FDMR36. So how does this type of rate works? When DBS first launched […]

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How Does Sibor and SOR work in Singapore housing loans?

In a new launch show-flat, you spoke to a banker and he showed you this package. Here’s how to interpret the package. Bank’s Margin / Spread This 0.75% portion is known as the bank’s margin/spread. This is an annual rate. It will not change unless the bank invokes Interest rate review clause (some banks called it Right to […]

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