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Best SCB home loans guide for property purchase or refinance

by • July 15, 2018 • Buying a property, Mortgage Broker, Residential Property LoanComments (0)509

Best SCB home loans – where can you find one?

Gone are the days where the best scb home loans (Standard chartered bank) are either fixed rates or SIBOR pegged home loans. The trend within the financial industry has been to shift away from these traditional interest rates with the bank’s own floating rate. Thus, most of the local banks are moving away from fixed home loans and SIBOR home loans. DBS introduced its own fixed home rates (FHR) while OCBC introduced its fixed deposit mortgage rate (FDMR). UOB was the last to the party with its board rate home loan and the Fixed Deposit Pegged Rate (FDPR) which was recently removed (July 2018).

For homeowners who still prefer the old school SIBOR home loans, where can you still find them after DBS, OCBC and UOB reduced the number of such loans?

Check out the SCB home loans here.

Best SCB Home loans

Standard Chartered Bank’s impressive branch on Battery Road.

 

Is the Best SCB home loans a SIBOR Home Loan?

One of the strongest argument for taking SIBOR home loans is the fluidity of SIBOR. SIBOR, or Singapore Interbank Offer Rate, is a reference rate that is adjusted every month. This means that whenever the global interest rate is adjusted (usually set by the Fed), your home loan package will also have a new interest rate. Unlike board rate home loans which are much less fluid, SIBOR home loans will be updated every month to reflect the current economic outlook.

Looking For SIBOR Home Loans?

As the three local banks shift towards their own home loan board rate, SIBOR loans are increasingly diminishing. For those who are looking for SIBOR pegged home loans, Standard Chartered Bank (SCB) will be the bank to go to. While SCB also has fixed rate home loans, SIBOR pegged home loans still dominate SCB’s loan book. SCB offers the choice between a 1-month or 3-month SIBOR home loan package.

Trend Of Best SCB Home Loans – SIBOR Home Loan

Based on our analysis, the interest rate payable on SCB SIBOR home loans was at a low near the fourth quarter of 2017. However, it has recently started to creep upwards as SIBOR continues to adjust upwards following a dip in February this year. The spread on SIBOR home loans from SCB has also been declining in the same period, leading to higher interest rate on SIBOR pegged home loans.

Date SCB Bank Loan Packages 1st Year Interest Rate (%) 2nd Year Interest Rate (%) 3rd Year Interest Rate (%) 4th Year Interest Rate (%) 5th  Year Interest Rate (%) Interest Rate Thereafter (%)
26-May-15 SCB Deviated Package – Subject to Approval 1.76 1.81 1.81 2.26 2.26 2.26
21-Jul-15 SCB MortgageOne Deviated Package 1.86 1.86 1.86 2.26 2.26 2.26
21-Jul-15 SCB Tracker Rates For Completed Properties – 1M or 3M SIBOR 1.86 1.96 2.16 2.26 2.26 2.26
28-Jul-15 SCB Mortgage SG – 50  Promo Throughout Package 1.89 1.89 1.89 1.89 1.89 1.89
21-Aug-15 SCB SIBOR Package 1.71 1.71 1.71 2.01 2.26 2.26
8-Dec-15 SCB Special SIBOR 1M Package 2.01 2.01 2.01 2.01 2.01 2.01
8-Dec-15 SCB Special SIBOR 3M Package 2.13 2.13 2.13 2.13 2.13 2.13
16-Feb-16 SCB 1M SIBOR With 3 Years Lock In for Completed Private/HDB Properties 1.86 1.96 2.16 2.26 2.26 2.26
16-Feb-16 SCB 3M SIBOR With 3 Years Lock In for Completed Private/HDB Properties 1.98 2.08 2.28 2.38 2.38 2.38
16-Feb-16 SCB 12M SIBOR With 2 Years Lock In for Completed Private Properties 1.97 2.22 2.47 2.72 2.72 2.72
18-Apr-16 SCB 1M SIBOR With 2 Years Lock In for Completed Private/HDB Properties 1.69 1.79 1.89 2.01 2.01 2.01
18-Apr-16 SCB 3M SIBOR With 2 Years Lock In for Completed Private/HDB Properties 1.81 1.91 2.01 2.13 2.13 2.13
18-Apr-16 SCB 12M SIBOR With 2 Years Lock-In for Completed Properties 1.97 2.22 2.47 2.72 2.72 2.72
21-Apr-16 SCB 1M SIBOR With 2 Years Lock-In for Completed Properties 1.69 1.79 1.89 2.01 2.01 2.01
21-Apr-16 SCB 3M SIBOR With 2 Years Lock-In for Completed Properties 1.81 1.91 2.01 2.13 2.13 2.13
22-Apr-16 SCB 1M SIBOR With No Lock-In for BUC Private Properties 1.66 1.66 1.76 2.01 2.01 2.01
22-Apr-16 SCB 1M SIBOR With No Lock-In for Private Properties 1.66 1.66 1.76 1.76 2.01 2.01
22-Apr-16 SCB 1M SIBOR With No Lock-In for Private Properties 1.66 1.66 1.76 1.76 2.01 2.01
31-May-16 SCB 1M SIBOR With No Lock In for Completed Private Properties 2.06 2.06 2.06 2.06 2.06 2.06
31-May-16 SCB 3M SIBOR With No Lock In for Completed Private Properties 2.18 2.18 2.18 2.18 2.18 2.18
31-May-16 SCB 3M SIBOR With No Lock In for Private Properties 2.03 2.03 2.03 2.38 2.38 2.38
31-May-16 SCB 12M SIBOR With 2 Years Lock-In for Completed Properties 1.97 1.97 2.17 2.47 2.47 2.47
31-May-16 SCB 3M SIBOR With No Lock-In for BUC Private Properties 1.78 1.78 1.88 2.13 2.13 2.13
11-Jul-16 SCB 1M SIBOR With No Lock-In for BUC Private Properties 1.71 1.71 1.76 2.01 2.01 2.01
23-Jul-16 SCB 3M SIBOR With 2 Years Lock In for Completed Private/HDB Properties 1.78 1.78 1.88 1.88 2.13 2.13
25-Sep-16 SCB 1M SIBOR With 2 Years Lock In for Completed Private/HDB Properties 1.76 1.76 1.76 1.91 2.01 2.01
10-Oct-16 SCB 1M SIBOR With No Lock In for Private Properties 1.91 1.91 1.91 2.26 2.26 2.26
10-Oct-16 SCB 3M SIBOR for BUC Properties 1.63 1.63 1.73 1.93 1.93 1.93
10-Oct-16 SCB 1M SIBOR for BUC Properties 1.56 1.66 1.86 1.91 1.91 1.91
11-Jan-17 SCB 3M SIBOR With 2 Years Lock In for Private/HDB Properties 1.53 1.63 1.73 1.83 1.93 1.93
11-Jan-17 SCB 1M SIBOR With 2 Years Lock In for Private/HDB Properties 1.51 1.66 1.86 1.86 1.86 1.86
11-Jan-17 SCB 1M SIBOR Without Lock-in for Private/HDB Properties 1.69 1.69 1.69 1.89 1.89 1.89
11-Jan-17 SCB 3M SIBOR Without Lock-in for Private/HDB Properties 1.71 1.71 1.71 2.01 2.01 2.01
1-Jul-17 SCB SIBOR Package With 2 years Lock in 1.45 1.45 1.56 1.56 1.56 1.56
12-Aug-17 SCB 3M SIBOR With 2 years lock-in for Private/HDB Properties 1.39 1.39 1.49 1.49 1.49 1.49
22-Aug-17 SCB 1M SIBOR With 2 years lock-in for Private/HDB Properties 1.31 1.31 1.56 1.56 1.56 1.56
8-Sep-17 SCB 1M SIBOR With 2 years lock-in for Private/HDB Properties 1.31 1.31 1.56 1.56 1.56 1.56
13-Sep-17 SCB 3M SIBOR With 2 years lock-in for Private/HDB Properties 1.39 1.39 1.49 1.49 1.49 1.49
13-Sep-17 SCB 1M SIBOR With 2 years lock-in for Private/HDB Properties 1.45 1.45 1.56 1.56 1.56 1.56
13-Sep-17 SCB 1M SIBOR With 2 years lock-in for Private/HDB Properties 1.31 1.56 1.56 1.56 1.56 1.56
13-Sep-17 SCB 3M SIBOR With 2 years lock-in for Private/HDB Properties 1.28 1.28 1.48 1.48 1.48 1.48
3-Oct-17 SCB 1M SIBOR  With 2 years lock-in for Private/HDB Properties 1.45 1.45 1.56 1.56 1.56 1.56
3-Oct-17 SCB 3M SIBOR  With 2 years lock-in for Private/HDB Properties 1.39 1.39 1.49 1.49 1.49 1.49
3-Oct-17 SCB 1M SIBOR With 2 years lock-in for Private/HDB Properties 1.31 1.31 1.56 1.56 1.56 1.56
27-Oct-17 SCB 3M SIBOR With 2 years lock-in for Private/HDB Properties 1.28 1.28 1.48 1.48 1.48 1.48
1-Nov-17 SCB 1M SIBOR  With 2 years lock-in for Private/HDB Properties 1.31 1.31 1.56 1.56 1.56 1.56
1-Nov-17 SCB 3M SIBOR With 2 years lock-in for Private/HDB Properties 1.35 1.35 1.57 1.57 1.57 1.57
1-Nov-17 SCB 3M SIBOR With 2 years lock-in for Private/HDB Properties 1.30 1.30 1.50 1.50 1.50 1.50
1-Nov-17 SCB 1M SIBOR With 2 years lock-in for Private/HDB Properties 1.31 1.31 1.61 1.61 1.61 1.61
27-Nov-17 SCB 1M SIBOR Wth 2 Years Lock-In for Completed Private Properties 1.69 1.69 1.69 1.89 1.89 1.89
29-Nov-17 SCB 3M SIBOR Without Lock-In for BUC Properties 1.55 1.55 1.55 1.55 1.55 1.55
29-Nov-17 SCB 1M SIBOR Without Lock-In for BUC Properties 1.56 1.56 1.56 1.56 1.56 1.56
7-Dec-17 SCB 3M SIBOR Without Lock-In for BUC (with MortgageOne) 1.71 1.71 1.71 2.01 2.01 2.01

Table 1: Standard Chartered Bank Best SCB home loans that are Sibor Based for completed as well as new launch condo BUC, iCompareLoan.com

 

Best SCB home loans for a business person – MortgageOne home loan

The Best scb home loans for a business person is one where it allows the home owner to reduce their monthly repayment while at the same time allows the home owner to draw upon the cash should they need it for an emergency or an investment.

This is also known as a “Deposit offset home loan”. Whatever funds you deposit into the linked account, the bank offers to offset it against the outstanding loan amount. For example, if you have a $1,000,000 outstanding loan where you are paying a 3% interest rate, and you have a deposit in the bank of $200,000, this means that your effective outstanding loan amount is $1,000,000 – $200,000 if the deposit offset is set at 100% offset, in other words, your loan is only $800,000 for that period of time where your current account has $200,000.

Of course the bank may not offer 100% offset all the time. For example the bank may offer 2/3 offset. What a 2/3 offset means is that, if you put $200,000 deposit in a linked account with Standard Chartered Bank (SCB), if your loan is at 3% interest cost, the deposit account gives you 2/3 of 3%, or 2% to offset against the outstanding loan.

Ultimately the best scb home loans manifest itself in many ways, it depends on how you will use the financing and your personal circumstances.

 


 

Tips: How To Choose The Best Home Loan Package For Your Dream Home

With so many different SIBOR home loans coming into the picture, it might not be easy to find the most suitable home loan package on your own.

One way to source for the best home loan package for your home is to approach a mortgage specialist. A mortgage specialist will help you compare the available home loan deals in the market and provide recommendation for you based on your loan needs. Why not speak with a mortgage specialist at iCompareLoan today? Our mortgage specialist can assist you for free in your choice of loan packages with the best home loan interest rates.

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