How will OA to SA transfer affect my goal of upgrading from HDB to EC or condo in 3 years time?

Hi,

I think the most important question you have to ask youself is "Will the extra 1.5% of interest offset the advantage of being able to use the available OA balances to pay for the downpayment or the monthly mortgage".

If it's a resolute yes, then go ahead and do the transfer. Otherwise, if unsure, you can be prudent and just wait and see.

It depends on how you do your budget. If you are certain that you won't need the current amount in your OA for the downpayment, ongoing repayment, and emergency fund , then transfer it to SA since hitting FRS is your goal.

If you need money for any of the above situations, then it is probably wise to keep some or all the money in your OA for that purpose. Of course, the more money you put into your house, the lesser the mortgage and interest that you need to pay.

Consider using a spreadsheet to do your calculation. I'm confident that your final decision will become a lot easier thereafter. Above all, it depends on your goals and priorities.

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