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DBS Home Loan
DBS has a full range of home loans including fixed rate mortgage loans, floating rate mortgage loans and bridging loans for HDB and private property.
DBS Home Loans
DBS offers home loans for both
new and resale HDB flats and Executive Condominiums. They also offer home loans for all types of new and resale private property, including landed homes, strata landed houses and condo units.
Bank name DBS Loan types Fixed, Floating, FHR, Board Rate Lock-in 0, 2, 3, 5 years SIBOR Home Loan
Many banks peg their floating interest rates to the
Singapore Interbank Offered Rate (SIBOR). SIBOR is a benchmark rate that is derived from the interest rate on the wholesale interbank market in Singapore—in other words, it is the interest rate at which banks lend to each other. DBS does not use SIBOR for its floating interest rates, instead pegging them to the Fixed Deposit Home Rate (FHR). FHR Home Loan
The Fixed Deposit Home Rate (FHR) is derived from a bank's interest rates for fixed deposits, determined internally. DBS pegs its floating interest rates to the FHR, making it a good alternative to those who do not want to opt for floating home loans pegged to SIBOR.
Board rates Home Loan
Board rates are interest rates determined internally by the bank. The Fixed Deposit Home Rate (FDR) to which DBS's floating interest rates are pegged is one example of a board rate. The bank reserves the right to amend board rates from time to time.
Building Under Construction (BUC) Home Loan
DBS's home loans can be used to finance property that is still in the process of being built and has not yet received its Temporary Occupation Permit (TOP). In such cases, the buyer has not yet received the keys to the property and cannot yet move in. HDB BTO flats and new launch condos are examples of BUCs. BUC home loans will make disbursements according to the progressive payment scheme.
A short-term bridging loan offers a way to finance a property purchase if you would like to proceed with it before you have managed to sell your existing property. The bridging loan, which usually has a term of a few months, will offer financing until you are able to obtain the sales proceeds from your existing property.
Home Loan Promotions
DBS sometimes offers legal subsidies on home loans. Legal subsidies may be calculated as a percentage of your loan principal amount and are meant to lower your conveyancing costs. From time to time, DBS also offers promotional home loan rates. Contact
our Home Finance Advisors to stay up-to-date on DBS's latest promotions. DBS Home Loan Refinance
In order to ensure that the home loan interest rates you are paying stay competitive, it is a good idea to look out for refinancing opportunities. Compare home loans and check if refinancing to a DBS loan would save you money in the long run. If you need assistance comparing home loans,
PropertyGuru Finance can help you find the best deals. Apply for DBS Home Loan Through Us
Check DBS home loan interest rates and apply for a loan on PropertyGuru. Get in touch with our
Home Finance Advisors, who can help you every step of the way. Documents Required
You will need the following documents when applying for a DBS home loan
NRIC (for Singaporeans and PRs) / passport (foreigners) Option to Purchase (OTP) or Sales and Purchase Agreement HDB flat and financial information Option to Purchase (OTP) or Sales & Purchase Agreement Value confirmed by HDB (For HDB resale) Valuation report (for private property and Executive Condominium) Latest Notice of Assessment or 12 months CPF contribution history Latest 3 months' payslips (or latest payslip and employment contract if working for less than 3 months) Latest 3 months' salary crediting account statements (additional documents required for those working overseas) Latest credit facilities statements (eg. existing home loans, credit card, car loan, personal loan facilities, etc) Letter of Offer from financial institution (refinancing only) Latest 6 months' loan repayment history (refinancing only) IRAS My Property Portfolio (if owner-occupied; refinancing only) Latest CPF Property Withdrawal Statement (if you have an existing term loan or are applying for a term loan; refinancing only) HDB flat information and financial information (refinancing from HDB loan only) Process and Fees
DBS will issue a Letter of Offer upon approval of your home loan. After accepting the Letter of Offer, certain fees will be chargeable if you wish to make any changes to your mortgage package, such as revising the loan amount.
Banks change their home loan interest rates frequently, so it is a good idea to compare home loans often and refinance your existing home loan when the time is right. This can save you money over the long term.
compare home loan interest rates on PropertyGuru Finance, or get recommendations tailored to your needs from our Home Finance Advisors. Frequently Asked Questions
How do I pay my DBS home loan?
You can make your monthly home loan repayments in cash or by using your CPF savings (if eligible).
How can I clear my DBS home loan early?
You can repay your DBS home loan at any time. However, a prepayment penalty might be imposed depending on the terms of your home loan package. One alternative to repaying your loan early is to ask for your loan tenure to be shortened. This will raise your monthly repayments and enable you to pay off your loan earlier.
What is DBS's housing loan eligibility?
DBS assesses home loan eligibility on a case-by-case basis. To find out if you qualify for a DBS home loan, speak to a representative from
PropertyGuru Finance. How is DBS home loan interest calculated?
That will depend on the type of home loan package you opt for. DBS's floating interest rates are pegged to the Fixed Deposit Home Rate (FHR) rather than the Singapore Interbank Offered Rate (SIBOR).
Can I refinance my DBS home loan?
Yes. However, a prepayment penalty might be imposed depending on the terms of your existing home loan package. To identify good refinancing opportunities, contact