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Anonymous

11 May 2020

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Property

What is the best approach if I plan to take student loan, SME loan & HDB loan? Any advice?

Should I stick to one bank such as DBS or apply each loan from a different bank?

Discussion (2)

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Depends. I would say go to 1 bank and check out the rates first and if you are able to take all the loans with 1 bank.

If the bank reject your multiple loan request due to credit issues. (Either poor credit report or insufficient income) There is no point in approaching multiple banks. Cus they are 'linked', they can easily pull out your credit report and see that you have other outstanding loans with other banks and refuse to loan you anything.

However, if credit is not an issue, you can try multiple banks to get the best interest rate. But I still think that if you stick all your loans with 1 bank, you may be able to ask for a better rate.

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