Bank loan vs HDB loan?

I'm considering between taking bank loan and hdb loan for bto. Bank loan interest is much lower than hdb. However, with recession coming soon, can anyone share some advise on this please?

If we were to take up a bank loan, we have to wipe out our OA account to finance the loan.

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Kelly Trinh

21 Nov 2019

Backoffice technical at financial services firm

Recessions generally are historically associated with lower interest rates as governments aim to bost economic activity. However, since the financial crisis, interest rates are very low and there isn't much more room to decrease but at least the direction of push is downwards.

All in all, just on the interest rate part - if you expect recession then there shouldn't be any upward pressure on interest rates.

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