Anonymous
HDB vs Bank Loan using CPF
I saw some bank sites mentioned that Bank Loan can also use CPF to make payments.
How does that work as compared to using HDB Loan?
Does that mean that if I use HDB loan, I will pay 2.6% interest?
If I use a bank loan and pay via CPF, I can enjoy the bank interest e.g. 1.5%?
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Tan Choong Hwee
19 Oct 2021
Solutions Specialist at Providend
Yes, you can use CPF to make payments for both HDB and Bank Mortgage Loan, and the loan interest would be 2.6% vs bank interest (e.g. 1.5%) respectively.
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Yes, you are right. If you are still keen to find out more, feel free to check out mogul.sg recent blog posts on this topic! Cheers :)
(1) Pros And Cons Of Using CPF To Buy A Property In Singapore
https://www.blog.mogul.sg/post/pros-and-cons-of...
(2) 5 Important Factors to Decide the Right Mortgage Loan in Singapore
https://www.blog.mogul.sg/post/5-important-fact...
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