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Bank loans to be more transparent
From next week onwards, all banks in Singapore will have to inform their customers of the different interest rates being charged for different home loan packages before they take up the loan offers.
Sep 09, 2007 - iProperty.com

§ the financial indicators being benchmarked against for home loan rates, such as the three-month Singapore Inter-bank Offered Rate or the Central Provident Fund rate.

§ the banks’ prerogative to change the board rate at any time by giving 30 days' notice,

§ the bank's Letter of Offer must also include the above details. (9 Sept)


Edited by Sam Gian – Independent Real Estate Sale Consultant

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