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Thread: Citibank 1M SIBOR + 0.65%

  1. #1
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    Default Citibank 1M SIBOR + 0.65%

    Hi, any other banks have offer better than Citibank 1M SIBOR + 0.65% throughout.

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    Quote Originally Posted by hopeful
    Hi, any other banks have offer better than Citibank 1M SIBOR + 0.65% throughout.
    Any lock in period??

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    Quote Originally Posted by Fisherman
    Any lock in period??
    2 years lock in i think.

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    i am currently on this loan...so far so good

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    Now 1M SIBOR is higher than 3M SOR, usually it is lower.
    However 1M SIBOR + 0.65 is lower than 3M SOR + 0.85 (which is the lowest SOR in market) most of the time, even now.

    anybody knows of 1M SOR or 3M SOR with low spreads, like +0.65 or +0.70%?
    The spread remains constant throughout.

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    I got the loan last month from DBS 3M Sibor + 0.75% throughout. No lock in period.

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    I got all these quotations last month, hope it can be of some guide.


    OCBC - 3 months Sibor +0.55% (1st) +0.60%(2nd) +0.65%(3rd)
    Thereafter +1.25% 3 years Lockin


    UOB (No lock in period)
    1st Yr: 3mth SOR + 0.75%
    2nd Y: 3mth SOR + 0.75%
    3rd Yr: 3mth SOR + 0.75%
    4th Year: 3mth SOR + 0.75%
    Thereafter: 3mth SOR + 1%

    DBS - 3 months Sibor + 0.75% throughout (No lock-in period).






    Last edited by irisng; 16-05-11 at 20:53.

  8. #8
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    Just to add to this list:

    ANZ: 0.75% + 3 mth SOR throughout tenure (no lock-in)
    Quote Originally Posted by irisng
    I got all these quotations last month, hope it can be of some guide.


    OCBC - 3 months Sibor +0.55% (1st) +0.60%(2nd) +0.65%(3rd)
    Thereafter +1.25% 3 years Lockin


    UOB (No lock in period)
    1st Yr: 3mth SOR + 0.75%
    2nd Y: 3mth SOR + 0.75%
    3rd Yr: 3mth SOR + 0.75%
    4th Year: 3mth SOR + 0.75%
    Thereafter: 3mth SOR + 1%

    DBS - 3 months Sibor + 0.75% throughout (No lock-in period).







  9. #9
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    Quote Originally Posted by hopeful
    Hi, any other banks have offer better than Citibank 1M SIBOR + 0.65% throughout.
    My experience with Citibank is not good. Bad response and poor management of customers. Must run after them for replies.

  10. #10
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    Looks like now the rates are better, I did refinance with DBS around Feb no lock in was 0.9 + sibor for 1st 3 years.

  11. #11
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    Ypu should have gone for ANZ then with 0.65% + 3 month SOR then with no lock-in throughout.
    Quote Originally Posted by weezersg
    Looks like now the rates are better, I did refinance with DBS around Feb no lock in was 0.9 + sibor for 1st 3 years.

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    Quote Originally Posted by DC33_2008
    Ypu should have gone for ANZ then with 0.65% + 3 month SOR then with no lock-in throughout.
    Did asked about ANZ. But they say they target at Singaporeans with incomes, and not foreigners using assets to secure mortgages.
    That IMO, was the best package so far......

    now ANZ is 3M SOR + 0.95% throughout.

  13. #13
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    Quote Originally Posted by hopeful
    Did asked about ANZ. But they say they target at Singaporeans with incomes, and not foreigners using assets to secure mortgages.
    That IMO, was the best package so far......

    now ANZ is 3M SOR + 0.95% throughout.
    U bot smthing ?

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    Oh! I see. It was 0.75% + 3mth sor throughout with no lock-in just a month ago. Lots of movement amongst the banks. They give good extended tenure.
    Quote Originally Posted by hopeful
    Did asked about ANZ. But they say they target at Singaporeans with incomes, and not foreigners using assets to secure mortgages.
    That IMO, was the best package so far......

    now ANZ is 3M SOR + 0.95% throughout.

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    Quote Originally Posted by DC33_2008
    Oh! I see. It was 0.75% + 3mth sor throughout with no lock-in just a month ago. Lots of movement amongst the banks. They give good extended tenure.
    Or u hf special package?

    There is aso a diff in buc n completed projects

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    Quote Originally Posted by devilplate
    U bot smthing ?
    1 relative bought the pier @ robertson that time using CIMB step down package.
    now another relative looking at the clift. now holding otp and looking for financing..

  17. #17
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    It is for completed project. BUC does not make much difference in the early stage of project that is why they can offer much lower base interest for 1st 2 years.
    Quote Originally Posted by devilplate
    Or u hf special package?

    There is aso a diff in buc n completed projects

  18. #18
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    Quote Originally Posted by hopeful
    1 relative bought the pier @ robertson that time using CIMB step down package.
    now another relative looking at the clift. now holding otp and looking for financing..
    Not much diff lor....

    Most impt which bank can give highest ltv n match the purchase px so tat u dun hf to top up

  19. #19
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    Quote Originally Posted by devilplate
    Not much diff lor....

    Most impt which bank can give highest ltv n match the purchase px so tat u dun hf to top up
    not sure about capital gains of the clift now.....won't be much I guess.
    So they are focusing on rental yield aspects and cash-on-cash returns ((like Regulator).
    so the mortgage and rental income is important to them....

  20. #20
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    Quote Originally Posted by hopeful
    not sure about capital gains of the clift now.....won't be much I guess.
    So they are focusing on rental yield aspects and cash-on-cash returns ((like Regulator).
    so the mortgage and rental income is important to them....
    Diff by 0.1-0.2% only wor.....

    Service aso vy impt.....

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    What will the likely rental yield for them to buy now?
    Quote Originally Posted by hopeful
    not sure about capital gains of the clift now.....won't be much I guess.
    So they are focusing on rental yield aspects and cash-on-cash returns ((like Regulator).
    so the mortgage and rental income is important to them....

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    should be around 4-4.2% depending on rental.

  23. #23
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    What is the maintenance at this place?
    Quote Originally Posted by hopeful
    should be around 4-4.2% depending on rental.

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    Quote Originally Posted by DC33_2008
    What is the maintenance at this place?
    devilplate can answer better, but agent say about 200 per month only. Much lower than One Shenton. because of lower quantum, lower maintenance, same rental per month, they decided to get the clift instead of OS.

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    That is cheap for a studio. Does it include one free carpark lot?
    Quote Originally Posted by hopeful
    devilplate can answer better, but agent say about 200 per month only. Much lower than One Shenton. because of lower quantum, lower maintenance, same rental per month, they decided to get the clift instead of OS.

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    Quote Originally Posted by DC33_2008
    That is cheap for a studio. Does it include one free carpark lot?
    I think it doesn't.

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    What about fixed rates packages? Seems most people are taking the variable rates. Thought interest rates might go up soon, so better to take fixed rates for three years?

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    Should go for no lock-in in period of uncertainty especially for completed investment property.
    Quote Originally Posted by Fleur
    What about fixed rates packages? Seems most people are taking the variable rates. Thought interest rates might go up soon, so better to take fixed rates for three years?

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    One shenton will be competing with one clift for rental. Should ask sales agent to secure a good rental deal for you before signing on the OTP.
    Quote Originally Posted by hopeful
    I think it doesn't.

  30. #30
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    Quote Originally Posted by Fleur
    What about fixed rates packages? Seems most people are taking the variable rates. Thought interest rates might go up soon, so better to take fixed rates for three years?
    i think that thinking applies to fixed deposits.
    If rates are dropping, go for 1 year tenure or more.
    If rates are increasing, go for 1M,3M tenure.

    Not sure whether it applies to mortgage.
    as in, rates are increasing, lock in for 3 years.
    rates are dropping, switch to variable.
    Because of transactions cost involved to refinance mortgage.

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