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Old 10-01-2019, 08:30 AM   #2446
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Hi Andrewccs,
If your property is HDB, you can refinance at 1.88% FIXED.
Even if you're going to pay legal fees you still can save, but the savings is not much, maybe approximately $700++.

If it's private then yes, it makes more sense to stick around with OCBC.
Thanks, but i not eligible to loan from HDB loan, Only from Bank (PR) ,

may i know is good choose option 1 or option 2.
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Old 10-01-2019, 10:27 PM   #2447
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What is the outlook for sg interest rate for 2019? Are we expecting fixed deposit rate to rise further or generally remains stagnant? Still make sense to secure fixed rate?
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Old 11-01-2019, 02:39 AM   #2448
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What is the outlook for sg interest rate for 2019? Are we expecting fixed deposit rate to rise further or generally remains stagnant? Still make sense to secure fixed rate?
Our interest rates are very sensitive to US FED interest hikes, though it doesn't follow exactly.
With the US FED increasing their rates just on 19 Dec 2018, we foresee an interest hike within the 1Q 2019. Many banks have already increased theirs and many other bank are in the midst of doing so.
If you are able to get a great deal for fixed package, I'll reckon to go for it as you can confidently plan your expenses and cash flow for the next 2 years. Nothing beats peace of mind and to me that is priceless.
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Old 11-01-2019, 02:41 AM   #2449
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Thanks, but i not eligible to loan from HDB loan, Only from Bank (PR) ,

may i know is good choose option 1 or option 2.
Hi bro,
Just to clarify, is your property HDB?
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Old 11-01-2019, 08:46 AM   #2450
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Hi Bro,

is my own house and current interest 3.0% very high.

Last edited by Andrewccs; 11-01-2019 at 08:49 AM..
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Old 11-01-2019, 12:56 PM   #2451
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Hi Bro,

is my own house and current interest 3.0% very high.
Hi bro,
Oh dear, yet another 3.0%.
Tried to PM you but can't do it.
Can you change your personal settings, thanks.
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Old 11-01-2019, 03:24 PM   #2452
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fyi 1.88% is no longer available .... its 2.18% now..
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freelance IT technician if you ever need one =)
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Old 11-01-2019, 06:34 PM   #2453
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Hi all, have enough combined OA to clear off my remaining HDB loan 120k from bank. (currently at capped - 2.5% interest)

Should i do it ? What are the down and upsides ?
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Old 11-01-2019, 06:59 PM   #2454
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Hi all, have enough combined OA to clear off my remaining HDB loan 120k from bank. (currently at capped - 2.5% interest)

Should i do it ? What are the down and upsides ?
OA earns 3.5% for the first $20k, so as long as your bank loan still below 3.5%, keep at least the $20k inside.

The rest of your OA earns 2.5%, same as your bank interest now. No win no loss. Clear or don’t clear not much diff.

If your loan interest goes up somemore, or if you foresee that it’s likely to go up, then start to seriously consider paying off after weighing the incremental cost of increase vs the fees you have to pay for early repayment.
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Old 11-01-2019, 10:15 PM   #2455
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OA earns 3.5% for the first $20k, so as long as your bank loan still below 3.5%, keep at least the $20k inside.

The rest of your OA earns 2.5%, same as your bank interest now. No win no loss. Clear or don’t clear not much diff.

If your loan interest goes up somemore, or if you foresee that it’s likely to go up, then start to seriously consider paying off after weighing the incremental cost of increase vs the fees you have to pay for early repayment.
Alright thanks.
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Old 12-01-2019, 12:30 PM   #2456
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fyi 1.88% is no longer available .... its 2.18% now..
Yes, agree with you...interest skyrocket like your profile picture. lol
But still can try an appeal to get the old rates. (subject to approval)
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Old 12-01-2019, 08:45 PM   #2457
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Hi all, i am looking at my first property. Did an in principal approval and the bank approved around 510k. Have around 100k in OA.

Should I go for 1br condo?

My partner is not PR. Anyone can advise ?
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Old 12-01-2019, 10:53 PM   #2458
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Hi all, i am looking at my first property. Did an in principal approval and the bank approved around 510k. Have around 100k in OA.

Should I go for 1br condo?

My partner is not PR. Anyone can advise ?
A lot of factors to consider bro.
Family planning, like kids?
Once you purchase private, you have to wait a while before you can purchase HDB.
Have she applied for PR? Or is she going to? If so, I reckon it will be worth the wait. $510k can actually get you a BTO 5 room flat, or 4 room HDB resale in many non-matured estates.
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Old 13-01-2019, 09:23 AM   #2459
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Hi,
For the increase from bank on the interest rate. Even in the fixed rate lock in term, bank can increase the interest rate at any time during the duration. Or it is fixed thru out the lock in term?

Thanks
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Old 13-01-2019, 02:50 PM   #2460
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Hi,
For the increase from bank on the interest rate. Even in the fixed rate lock in term, bank can increase the interest rate at any time during the duration. Or it is fixed thru out the lock in term?

Thanks
It will be fixed all the way according to the package, e.g. 2 years fixed then locked in 2 years, the rates will not change. Vice versa for the 3 years package.
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