POSB home loan interest rates
POSB is a major public bank which began as the Post Office Savings Bank. It is often seen as a sort of National Bank of Singapore as it has a long standing history here. It was acquired by DBS in November 1998 and continues to provide consumer banking under its brand. POSB still operates one of the highest number of bank branches in Singapore and owns the most ATM outlets throughout Singapore. The merger of both banks allows customers of either bank to share the facilities, such as sharing ATMS and banking services in their branches. POSB has also earned its place in Singapore history, where they were once the biggest provider of private home loans in Singapore.
In terms of the variety of home loan products, POSB only provides 2 basic home loan. One of them is the POSB 2+2, which is a similar plan to the one provided by DBS. It allows the borrower to enjoy a fixed rate for 2 years, and to choose the same fixed rates from the 2 years after or move on to a floating rate. The POSB Home Ideal is an attractive home loan plan that pegs itself to the CPF rate. This ensures transparency as CPF rates are published and ensures that the borrower will not be subjected to rate surprises. On top of this, the bank has also made collaborations with MSIG Insurance to include fire insurance under its plans. It ensures that your home is protected against loss or damage resulting from fire, water and other disasters. No additional application form is required so that the home owner can enjoy the insurance coverage with much convenience.
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