Useful Tips in managing your home loans
Your home loan could be one of your biggest financial commitments and at ANZ, we want to work with you to help you manage your home loan better.
Best Home Mortgage Loan Provider
iProperty.com Singapore People's Choice Awards 2014/2015.
Best Mortgage Offering
6th Retail Banker International Asia Trailblazer Awards 2015.
Enjoy an attractive interest rate on your loan repayment account
Your ANZ Home Loan Current Account1, which is your designated loan repayment account, gives you up to 0.25%p.a., higher than an ordinary current account. We are also waiving any fall-below and/or administrative fees incurred on your loan repayment account.
|Balance in Home Loan Current Account (SGD)||Interest Rate - %p.a.|
|$10,000 to $49,999||0.10%|
|$50,000 to $199,999||0.20%|
|$200,000 & above||0.25%|
Keep track of your monthly installment
If you have opted for a floating rate package which is benchmarked against a 3-month SOR/COMBO2 rate, we will send you a notification letter every 3 months to inform you of the revised monthly installment amount. For customers who are using your CPF account wholly or partially to pay for your monthly installment, please note that there might be a difference between the revised monthly installment amount with your CPF funds remitted. This difference will be debited from your loan repayment account.
Unlock your home’s equity
ANZ Property Loans allows you to access the equity you have built up in your home or residential investment property to finance anything you like, according to your needs.
1. Deposit Insurance Scheme: Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
2. 3M SOR refers to 3-month Singapore Swap Offer Rate (SOR) obtained from the Association of Banks in Singapore (ABS) 8pm fixing on the last business day of the previous month. In the event that the 3-month SOR falls below 0.10%, the Bank shall use 0.10% as the 3-month SOR in its computation of interest for the relevant period. 3M Combo refers to the average of 3-month Singapore Interbank Offered Rate (SIBOR) 11am fixing on the first business day of the month and 3-month Singapore Swap Offer Rate (SOR) 8pm fixing on the last business day of the previous month obtained from the Association of Banks in Singapore (ABS). In the event that either the 3-month SIBOR or SOR falls below 0.10%, the Bank shall use 0.10% as the 3-month SIBOR or SOR as the case may be in its computation of the 3-month SIBOR and SOR Combo for the relevant period.
Making monthly repayments
Monthly installments are due on the 1st day of each calendar month for private property loan and 15th of each calendar month for HDB loan. Should the due date of the monthly installments fall on a Sunday or gazetted public holiday, the debiting will be made on the next business day.
Using your CPF for monthly installments
For application to use CPF for your residential loan or to revise your CPF contribution to your residential loan repayment, you may apply online using your SingPass or complete the Form 4B (HDBL/4 Form for HDB loans) obtainable from the CPF website.
Making lump-sum repayment towards your home loan
You may make partial repayment towards your outstanding home loan via cash, CPF or a combination of both by giving one month’s prior written notice. The minimum partial repayment amount is S$10,000 and in multiples of S$1,000. A Prepayment fee may be applicable if the partial repayment is made within the Prepayment Period. You may refer to the Singapore Property Loans Terms and Conditions for more information.
To place your instruction, please complete and submit the Property Loan Service Request Form and mail it to ANZ one month before your intended partial repayment date. For partial repayment by CPF, submit online using your Singpass via the CPF website.
You may redeem your home loan prior to its maturity with your available funds or from your sale proceeds.
Paying off your home loan or selling your property
To place your instruction, complete and submit the Property Loan Service Request Form and mail to ANZ 3 months before your intended redemption date. A 3-month notice period is required for us to process your redemption instruction. You will need to appoint a law firm that is on the Bank’s panel to prepare for the discharge of your mortgage.
A Prepayment Fee and/or other clawback fees may be applicable if the redemption is made within the Prepayment Period and clawback period. You may refer to the Singapore Property Loans Terms and Conditions for more information.
List of Fees and Charges for ANZ Property Loans
Variation to existing terms and conditions.
Review of interest rate package
Handling of administrative matters
Any request to vary the existing terms and conditions of your facility is subject to ANZ’s prior written approval and payment of any applicable fees as determined by us. ANZ reserves the right to review and change the fees and charges listed above from time to time. All legal and administrative costs and expenses that are applicable in connection with any request will be borne by you. “ANZ” refers to Australia and New Zealand Banking Group Limited.
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