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Kendrick Khoo

Edited 4d ago

∙

HDB or Bank Loan for those turning 55?

Hi. I will be turing 55 next year. I will also be upgrading from a 4rm to 5rm resale HDB soon. Will it be better to take a bank loan (2.48% interested) and put the sales proceed from selling the 4rm (about $200k) into the retirement account to earn the higher interest (4%) rather than use it to offset for the next flat? I have met the FRS when i turn 55 next year. Thanks.

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1M45

Edited 4d ago

Depend on how stable is your monthly cashflow and if you have sufficient cashflow to handle the monthly home payment.

If everything is good then can continue to grow your money.

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