While getting a keen HDB loan for your apartment, the interest rate has been 2.6% as long as I’m able to think about. Its pegged so you can CPF dos.5% interest. The stability of your own HDB loan rate may sound good, however it is already more higher than individual loans. One bank I understand is offering 5 years at the step one.4% repaired price.
This can be somewhat not the same as a great many other nations, in which rates will likely be greater. Therefore, there could be greater necessity when you look at the racing to pay off the latest mortgage, considering the higher rate.
While it is always good to minimise interest costs, our very own comparatively straight down rates adds another type of dimension to that. Continue Reading Downsides from Paying off Home loan Easily