Is there such a thing as a good loan? My mum is convinced that HDB loans are good loans due to the relative low interest rates vis a vis other type of bank loans? - Seedly

Loans

Asked by Anonymous

Asked 4w ago

Is there such a thing as a good loan? My mum is convinced that HDB loans are good loans due to the relative low interest rates vis a vis other type of bank loans?

Ultimately this will decide my repayment method, whether clearing all my debt is a priority or using the excessive cash for investments

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Mujimoro
Mujimoro
Level 4. Prodigy
Answered 4w ago

Getting a loan frees up your cash which you could invest. Housing loan now is 2.5% and there are plenty of investment products out there with higher returns (albeit with some risk). Ultimately it’s up to you, but for me, getting a loan and keeping cash for investments (and potentially down payment for other property, car, etc) is the better option.

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