(defer installment - covid19)

[chopra]

Pls refer to below article. It doesn't suggest interest accumulated will pause, hence there's no advantage to do so unless ur opportunity cost is higher.

Housing loan for example is v low at 1.x% now.

Question 1: do u know of any bank that is pausing interest?

Question 2: would u be taking advantage of this even if u can pay off ur loan?

https://www.straitstimes.com/business/economy/individuals-firms-can-defer-payment-of-property-and-business-loans?utm_source=STSmartphone&utm_medium=share&utm_term=2020-04-01+07%3A46%3A22

 

[chopra]

My ans to Question 1: i dont know of any. i hope someone can tell me if dbs does so


My ans to Question 2: My housing loan is 1.x% now. my opportunity cost is 2.x%. Logically i want to do it. I dont know if i can convince my spouse, given the interest will pile up.

 

[SBC]

Worthwhile to apply them?
- mortgage loan, for 9 months
- insurance policy, for 3 months.

What’s their pro & con?

 

[HMAN]

DBS has yet to adjust the mortgage loan rate down, the lowest package is 1.8% fixed rate for 3 years which is worsen than my current loan rate at 1.65%, unfortunately the contract is over by this month.
If I don't do repricing, the interest rate will jump to 2.6% , there will have $500 extra interest, if I were to taking the 1.8% package, there are 0.15% x 24 extra.

Within 3 months, all savings will be wiped out.

Should I gamble ? Expect the mortgage rate will drop

Sent from Samsung SM-T830 using GAGT

 

[m1kid85]

I was offered 1.73% for 2 years by dbs a few days ago. But I think depends on ur repricing amount.

 

[HMAN]

I was offered 1.73% for 2 years by dbs a few days ago. But I think depends on ur repricing amount.

Thanks will call Bank next Monday, loan quantum around 500k.

Sent from Samsung SM-T830 using GAGT