About Singapura Finance Home Loans
Singapura Finance home loans are offered by Singapura Finance, a locally-established company with more than 65 years of experience in financial services since their incorporation in 1950. The company started out with providing long term mortgage loans and evolved into the all-inclusive financial institution we see today.
Singapura Finance provides financial solutions to small and big businesses, as well as the consumer market with its array of products, including:
- Saving accounts for both juniors and adults
- Fixed deposits
- Home loans
- Pleasure craft loans
- Land and construction loans
- Car/motor loans
- Gold and shares loans
- Safe deposit services
- Wise share loans (for investments/starts-up funding)
Singapura Finance Home Loans
Currently, Singapura Finance offers loans of up to 80% of a property's purchase price or valuation price. According to government regulations, loan tenure can be up to a maximum of 35 years or up to the borrower's retirement age of 65 years old.
For HDB home loans, Singapura Finance offers a 3-year fixed rate loan. For private residential properties, Singapura Finance offers floating interest rates. They do not provide any loans for overseas property financing.
To further help consumers, Singapura Finance also provides bridging and revolving loans as a complimentary service for their home loan clients. No processing fees are required.
Singapura Finance Home Loan Eligibility
All loans are applicable for properties bought and sold in Singapore only.
Any Singapore Citizens, Permanent Residents and Foreigners aged above 21 are eligible to apply. Foreigners, however, must be accompanied by a guarantor who has local residency status.
For HDB loan applicants: All rules and regulations with relations to HDB, Design and Build Scheme (DBSS) and Executive Condominiums (ECs) are applicable. This includes fulfilling the HDB Loan Eligibility (HLE) as a pre-requisite.
For borrowers who are applying for a loan to fund the purchase of an Executive Condominiums (ECs), they would need to satisfy requirements set for both Mortgage Service Ratio (MSR) and Total Debt Service Ratio (TDSR). The TDSR rule applies to the refinancing of loans as well.