Eric and Jean, homeowners of a cozy 4-room HDB flat in a mature estate, were feeling the pressure of rising mortgage payments. Their home loan lock-in period was ending, leaving them vulnerable to rising interest rates and higher monthly payments. They were eager for a solution that would provide financial flexibility and lower their monthly payments.
Seeking guidance, they visited a POSB branch and met with a Home Advice Specialist. The specialist explained the benefits of the POSB HDB 5-Year Fixed package:
- Lower Interest Rate: Enjoy a competitive interest rate of 2.50% p.a., lower than HDB Concessionary Loan, leading to substantial savings on monthly repayments compared to their current floating rate mortgage.
- Cash Rewards: Receive a S$2,000 cash rebate, with a minimum loan of S$250,000, to help offset refinancing fees and jump-start your financial goals.
- Grow Your Savings: Earn a higher interest rate on your POSB Multiplier account, allowing you to grow your savings faster through your home loan repayments.
Impressed with the potential to unlock financial gains, Eric and Jean chose the POSB HDB 5-Year Fixed package, confident it would empower them on their homeownership journey.
Sarah and David, a young couple embarking on their first homeownership journey, felt overwhelmed by the application process. They visited a POSB branch, seeking guidance, and met with a Home Advice Specialist.
The specialist patiently explained their loan options, highlighting the benefits of the POSB HDB 5-Year Fixed package:
- Competitive Interest Rate: Enjoy a competitive interest rate of 2.50% p.a., lower than the HDB Concessionary Loan.
- Get expert guidance and a fast approval process: Our Home Advice Specialists will guide you through every step of the home loan journey, with quick approvals in just 1 working day, so you can get into your dream home faster.
- Grow Your Savings: Earn a higher interest rate on your POSB Multiplier account, allowing you to grow your savings faster through your home loan repayments.
- Dream Home Makeover: Benefit from a 0% interest rate for the first six months on the POSB Renovation Loan, providing interest savings and additional funds for your home makeover.
John's growing family is ready for a bigger space! He's excited about welcoming his second child and needs a larger HDB to accommodate everyone comfortably.
Typically, 50% of the proceeds from selling a HDB would be used as a down payment for a new HDB if one wishes to continue taking up an HDB loan (for the second time). However, John wants to keep most of his proceeds to help cover the cost of his renovation and higher household expenses.
That's where the POSB 5-Year Fixed HDB package comes in. By refinancing to this package, John can enjoy:
- Greater financial flexibility: The proceeds from selling his current HDB can be used to make a down payment on his new home or kept as an emergency fund for peace of mind.
- Lower Interest Rate: Enjoy a competitive interest rate of 2.50% p.a., lower than HDB Concessionary Loan, leading to substantial savings on monthly repayments, ensuring financial stability for the long term.
- Exclusive Renovation Loan Rate: The POSB Renovation Loan offers a 0% interest rate for the first six months, providing interest savings and additional funds to cover renovation costs.
- Cash Rewards: Receive a S$2,000 cash rebate, with a minimum loan of S$250,000, to help offset refinancing fees and jump-start your financial goals.
John is thrilled about the interest savings and the S$2,000 cash rebate he'll receive as a refinancing customer and the interest savings on his renovation loan. It's a win-win situation, allowing John to seamlessly upsize and secure his family's future with greater financial peace of mind.
