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What is the loan interest rate dependant on? I researched a few website to use the mortgage calculator including yours and there is a whole range of interest rate from 1% to 6%. Like anyone I would also be interested in the lowest interest rate but is there a basis on which this percentage is calculated or it is that different bank offer differnt rates?
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2 Answers

Dear sir/madam, In usual cases, bank's interest rates are very competitive from one another, but the general difference could be the different packages they offer. For example, with lock in period or without lock in period and etc. To find out more in details, the only way is to spend sometime to talk to different bankers. The main objectives for the different packages is to cater to buyers or investors who have different plans. Some investors look at selling within a couple of years therefore they may not want something with a lock in period in case of penalties. If you are looking at a long term stay for the purchase, you may opt to go for those with lock in periods. If you wish to speak to a couple of bankers, perhaps I can get them to give you a buzz at a convenient time? Visit and Like my facebook page at https://www.facebook.com/propertyblogshop Regards, Geryl LIM Real Estate Director Masters Of Real Estate (L3010548F) CEA Reg R014783H Mobile: +65-81577565  /+65-92787772 Email: geryl7772@gmail.com M.O.R.E Landed Dynamic Alliance Home of *7772 Hotline Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ "Landed 7772" in Mobile Apps Store or Play Store now! Our next exhibition is on 2nd and 3rd August 2014. If you have missed out successful exhibition on 10th and 11th May, do not miss this opportunity again. Register your interest to attend this showcase event now! Read More
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Hi do drop me a call at your convenience and I will be able to clarify all your doubts and queries. Thank you Andrew Ngauw 8188 8887  andrew.ngauw@gps.com.sg GPS Alliance Pte Ltd Read More
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