If one takes a HDB loan and is able to pay off the balance of the flat cost before the loan period is up, what are the steps to do so? Inform HDB? Thanks

Yes, u inform HDB about your redemption.

Then get their conveyance officer to do the paperwork for redemption.

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But do rmb to pay off your CPF used, else it will keep accruing interest

You can use HDB's e-service or e-feedback platform if you need any assistance. I would not recommend paying off your HDB loan in full before the term ends.

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Did you know the HDB loan offers one of the lowest interest rates at 2.6%? If you have a lump sum, do you think it is a better alternative to invest in a government bond with a potential 5% return? This could give you a risk-free net gain of 2.4% per year, while servicing your mortgage. This is not financial advice, just a food for thought as HDB loan is a privilege to Singaporeans.