[SINGAPORE] Thousands of HDB homeowners are turning to DBS Bank for a mortgage product that guarantees savings.
Those who took up a POSB HDB loan when it was launched in April could be looking at savings of as much as $1,600 by next month, calculations from DBS showed.
According to Lui Su Kian, DBS's head of deposits and secured lending, the POSB HDB loan has attracted "five times more new customers than a year ago", making up for some of the slack in the private-home loan market.
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Bank Sibor Rate
Central Provident Fund Board CPF
CPF Ordinary Account OA
Deposit and Secured Lending
Development Bank of Singapore DBS
HDB Concessionary Loan
Home loan financing
Housing and Development Board HDB
Long term financial Commitment
Post Office Savings Bank POSB
Singapore Interbank Offered Rate SIBOR
Total Debt Servicing Ratio TDSR