19-12-2022, 10:23 AM
(19-12-2022, 09:58 AM)Huliwang Wrote: How come the loan interest rate can change? Like that when the interest rates go down, does the banks also reduce their loan rates and give them discount? Last time I think the rate is fixed. ....
If I'm not wrong, HDB rate is fixed at 2.6% while some took commercial banks' loans. Thus, the rate is only fixed for 1, 2 and 3 years. On renewal, the rates will suddenly jump.
If you are Zero down and under with a lot of properties, you will be in trouble. If the property prices go down, your banker will likely be changed, the bank will call you to top up the different.