No Deposit Investment Home Loans

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No Deposit Investment Home Loans

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* SingPass holders with a MyInfo profile can use MyInfo to auto-fill the form. By clicking “Next” you will be redirected to the MyInfo portal, which is not owned or controlled by Standard Chartered Bank (Singapore) Limited or Standard Chartered Group (the “Bank”). The Bank does not take any responsibility for how you use the MyInfo portal.

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The interest earned on your deposits is set against the loan interest. Any excess interest will be used to reduce your outstanding loan principal.

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3-month compound SORA plus margin for banks. Two-thirds of your deposits will earn the same rate as the mortgage loan, subject to the maximum outstanding loan principal amount. Interest rate of 0.25% per annum will be applicable on remaining deposits. Check out our latest SORA MOA package now.

A conventional home loan refers to the repayment of the mortgage through regular payments of principal (known as principal) and interest at scheduled times.

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1. Please note that the “initial mortgage deposit” shown here does not apply to the minimum cash payment for the purchase of the property.

2. Calculations derived from the above information are for illustrative purposes only and do not constitute an offer of credit facilities by Standard Chartered Bank (Singapore) Limited.

3. Standard Chartered Bank (Singapore) Limited accepts no responsibility for errors, omissions, inaccuracies or any damages (direct or indirect) arising out of the use of or reliance on the information and/or calculations contained herein.

Note. Before you commit to a home loan, it’s a good idea to read the Association of Banks Singapore (ABS) guide to home loans. The guide is available in the four official languages ​​on the MoneySENSE and ABS websites.

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Non-bank depositors’ Singapore dollars are insured by the Singapore Deposit Insurance Corporation, up to a total of SGD 75,000 per depositor per Ham Member in accordance with the Act. Foreign currency deposits, dual currency investments, managed deposits and other investment products are not insured. Rising interest rates coupled with an inflationary environment are forcing investors to seek higher yields to protect the value of their money. High inflation not only increases the cost of living, but money sitting idle in low-interest bank accounts actually loses value over time.

Cash alternative investments are generally lower risk and offer slightly higher interest rates than a plain vanilla bank savings account. However, returns are relatively low for high-risk investment products (such as stocks and funds) to grow your money more efficiently. However, there is room in everyone’s portfolio for cash alternative investments.

There are two main factors to consider for those looking to move their excess cash into alternative investments – 1) liquidity and 2) risk.

You want to make sure that the investment liquidity meets your needs if you need quick access to your money for short-term needs. As investment opportunities offer a low level of risk, these investments typically return between 2% and 3% per annum (pa).

Regional First Home Buyer Guarantee

How can consumers make their money work harder by taking advantage of the benefits currently offered by low-risk investment/alternative money products?

Singapore is one of the few countries with a triple-A credit rating, indicating that government-issued debt has a high level of credibility and a strong ability to repay investors. The Singapore government issues short-term bonds, called bills, with both 6-month and 1-year maturities. These are the shortest Singapore Government Securities (SGS) available.

The 6-month notes issued on September 15, 2022 yielded 3.32%, a significant increase over the previous notes issued on September 6, 2022 and August 23, 2022, which yielded 2.99% and 2.98%. % respectively. Unlike SSB and SGS bonds, promotional notes are zero coupon bonds that do not pay interest.

Instead, promissory notes are issued at a discount to their face value – the cost of the promissory note is less than the principal amount the investor receives at maturity. For example, if you invest S$10,000 in a 1-year note, you will initially earn “interest” (discounted at S$299 based on 2.99% p.a.) and eventually get back S$10,000 at maturity. . Simply put, you only have to pay S$9,701.

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The minimum amount to invest in this product is $1,000 with an admin fee of $2. Note that 1-year notes offer higher yields than 6-month notes. why? Because the warranty is more risky due to the extended period. Finally, promissory notes are useful for investors who want to invest in a very short period of time – up to a year – without risk.

Although you can sell the notes in the secondary market, be aware that the price may rise or fall before maturity.

There are also long-dated bonds ranging from 2 to 50 years under Singapore Government Securities (SGS). They pay for a fixed semi-annual coupon – every 6 months – from the month of commencement. SGS bonds pay regular interest payments (coupons) on the amount you invest at semi-annual intervals throughout the life of the bond.

For example, if you bought a S$10,000 50-year Green SGS bond with a coupon rate of 3% per annum, you would receive S$300 in two interest payments of S$150 per year. These payments will be made semi-annually until the bond matures (in this case 50 years – the longer you hold the bond, the more interest you will earn!).

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If you decide to sell it in the secondary market, be aware that the value of the bond may go up or down before maturity.

Singapore Savings Bonds (SSBs) are another safe and sound product offered by the government to the people. The investment period reaches 10 years. Launched in October 2015, SSBs are aimed at retail investors who want higher interest rates than bank deposits but are wary of risking their hard-earned savings.

The bonds pay an increasing interest rate every year until the 10th year. In other words, bonds have a lower yield at earlier maturities, but pay a higher interest rate or coupon advanced to the bond’s maturity date. This means that the more time you save, the more returns.

With SSB, bondholders will receive the full principal without any monthly capital loss or penalty. This means that if you need to redeem the bond before the 10-year maturity, you will not be penalized for early repayment.

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If you decide to exit the investment before the 10-year period, you will get a lower average annual return. The easiest way to calculate the expected return on investment in SSB is to use the calculator on the My Savings Bonds portal. You will also be able to check if your profit is different from the initial redemption.

The minimum investment for this particular security is $500, and the maximum individual holding is $200,000. There is also a $2 transaction fee to purchase and checkout this product.

A fixed deposit account pays a fixed amount of money at a fixed time. FDs earn more interest than leaving money in a savings account.

Many banks offer FD schemes at promotional rates. With interest rates on the rise, local banks are offering attractive FD rates of around 3% per annum for a period of 12 months.

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Note that FDs allow immediate withdrawals, but early withdrawals are usually subject to charges and may result in non-payment of any accrued interest. Currently offering an 8-month fixed deposit rate of 2.6% per annum (minimum S$20,000 up to US$1 million). it is

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