There are mainly 5 types of mortgage products namely:

• Fixed Rate Packages: Interest rates are fixed and guaranteed for a certain period of time (normally the first few years). Clients can be ensured about the monthly repayment for that certain period therefore making budgeting easier and also filtering out risk of interest rates fluctuation.


• Variable Rate Packages: Interest rates are variable, which are benchmarked against an assortment of rates e.g. Bank’s board rates, SIBOR, SOR, CPF OA rate…etc. Interest rates here can rise and fall depending on the movement of the above mentioned rates, therefore affecting monthly repayment.


• Combination of Fixed & Variable Rate Packages: A mixture of fixed and variable rates for the same loan. Interest rates can be fixed for a certain period and variable thereafter, or the loan can be split into various parts where the rate for a certain part can be fixed and the remaining variable.


• Term Loans & Overdraft Facilities: Your property can be an asset which enables you to utilise its equity (not applicable for HDB). Terms and conditions, loan amount and approval vary from bank to bank.


• Commercial Property Rate Packages: Applicable for commercial properties e.g. Shop houses, offices, buildings…etc.