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If I have enough CPF money to pay for my unit, would it be wiser to pay using my CPF or pay using a bank loan if the bank can offer me 1.6% interest which is lower than the 2.5% interest that CPF will pay me if I leave my money in CPF. Thank u.
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1 Answer

Andy Chua
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Hi Edward,

Though the bank rates are at 1.6% now, this is a floating rate which is likely to go up as the economy improves. 1.6% is also usually applicable only for the period up to TOP. After TOP the rates are also likely to be higher.

Of course the rates differ from bank to bank so it is encouraged that you check with bankers from different banks for their rates and promotion when you are considering to buy for your unit.

As this question can be quite complicated, maybe you can contact me and we can have more in-depth discussion?

Thank you and looking forward to hear from you soon.

Regards,
Andy Chua
ERA Property Specialist
 9068 0898  Read More
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