Housing Loan Singapore

www.Housingloansingapore.com

Providing online home loan services since 2009

SIBOR or SOR?

SIBOR is generally more stable while SWAP tend to fluctuate more. However 3-month SWAP has recently stayed consistently lower than 3-month SIBOR for an extended period of time. SOR is also very reactive to currency exchange rates.

Definition

Know Your Customer (KYC)

Know your customer (KYC) is a banking slang used to describe basic due diligence checks on new customer who a bank is dealing with for the very first time.

This is because a customer without any history with the bank needs to be screened in order to avoid being a tool of illegal activities such as money laundering.

The diligence checks conducted by a bank would also evaluate the risks involved with dealing with a new customer. Especially when it concerns unsecured credit facilities.

Some of the KYC checks might include research on:

  • Nationality
  • Companies the individual owns
  • Associated companies
  • Name matches with known terrorist database
  • Name matches with blacklisted entities
  • Court judgments
  • Political associations
  • Credit record
  • etc

A bank would not even bat an eyelid if it finds that there is an undesirable record attached to a party or individual.

In some cases, special approval is required from higher management when a cash deposit exceeds a certain amount of money.

In this case, the source of funds would have to be verified as legitimate.

Want to see housing loan interest rate trends
for the last 36 months?

Enter your email below so we can send it to you.


It makes absolutely no sense to pay more
than you have to on a home loan.

Find the best mortgage rates here
SEE RATES

Related Posts

What We Do For You

We Gather And Provide You Information On The Best Housing Loans In Singapore So That You Can Make A Better Decision Based On What Is Available In The Market

Which bank do you recommend for home loans in Singapore?

We don't recommend banks. We recommend you the best home loan that suits your profile and financial position.

How Does SOR Rates Hit Negative Value?

SOR rates are calculated with a complex financial formula, solved with simple algebra. The results of solving the equation therefore depends on the inputs used. Varying inputs that result from economic impacts and indicators can lead to negative value when the formula is solved. Key input indicators include USD/SGD spot rates and USD/SGD forward rates.

HDB loan or bank housing loan?

Our opinion is to always take a HDB concessionary loan if you are eligible for one. One of HDB's objectives is to to provide affordable housing for the people. While a bank is profit driven.

Which bank offers the best home loan deals?

Interest rates and spreads are not all that matter. Don't ignore the closing costs involved. Different banks can have different customized home loans for you. Don't be surprised if you will save more on a home loan that charges more interest because of the lesser closing costs involved. This is especially so if you know that you will refinance your home loan as soon as the lock in period has expired.
Want to see housing loan interest rate trends for the last 36 months?

Enter your email below so we can send it to you.

It makes absolutely no sense to pay more
than you have to on a home loan.

Find the best mortgage rates here
SEE RATES
close-link

It makes absolutely no sense to pay more than you have to on a home loan.

Find the best mortgage rates here
VIEW TODAY'S RATES
close-link