Is it good time to refinance hdb loan now?

Hi,
i have around 200k hdb loan currently, with recent covid 19 and dropping of interest rate, is it a good time to refinance to bank loan? What would be the consideration?

Also where can i find bank loan comparison?

TIA

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Colin Lim

15 Apr 2020

Financial Services Consultant at Colin Lim

First you need to understand that refinancing, there are charges you need to know...legal fee and valuation fee...main bulk of the charges is still legal fee rangin from 1.7k to 2k.

have to do calculation if it is worth it. Last month March, I did for most clients on refinancing, the interest rate is 1.2% to 1.4%( Sibor plus spread), now most banks increase their spread, i will suggest going for fixed rate.

you can reach out to me if you want to know more...cos my previous answer to a similar question was deleted when I share the loan comparison.

#planwithcolin

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