SCB or DBS?

[Eastboy]

Hi guys

Helping my bro to decide his new purchase, but I think I need your opinion which loan better for a BUC, TOP only in 2015?


1. SCB Package 1

Year 1 @ 1mth/3mth sibor + 0.55% (0.95)

Year 2 @ 1mth/3mth sibor + 0.55% (0.95)

Year 3 @ 1mth/3mth sibor + 0.65% (1.65)

Year 4 @ 1mth/3mth sibor + 0.65% (1.65)

Thereafter @ 1mth/3mth sibor + 0.85% (1.85)

Interest expenses for 1st 3 years: $8,152.09

Interest expenses on 1st 5 years: $26,073.24

2. DBS 1mth SIBOR + 0.75% through out
Year 1 @ 1mth Sibor + 0.75% (1.15%)
Year 2 @ 1mth Sibor + 0.75% (1.15%)
Thereafter @ 1mth Sibor + 0.75% (1.75%)


Interest expenses for 1st 3 years: $9,142.08

Interest expenses on 1st 5 years: $26,991.73

Both packages offer free fire insurance (4yrs for SCB, 5yrs for DBS) and legal subsidy.

Thanks!

[Laguna]

take SCB first, can do repricing later
they always hv promotional pack for BUC

[hopeful]

why need so much time consider?
SCB spread smaller.
1st 3 years, interest lesser
1st 5 years, interest also lesser.

Is there any other info you havent shared with us?

[buttercarp]

Is this a trick question?

If not, I take SCB.

[devilplate]

singapore banks really super frenly.....even the spread for completed projects about 1% only....

i remember 1.5% was the max since 2006

[dtrax]

I heard DBS got 0.75+ 3mths sibor and max 1.49% cap for first 3 yrs so you can be guaranteed for the next 3 yrs, the max interest rate will not go higher than 1.5%, you might wish to ask your bro confirm with DBS on this

[heroes]

I heard DBS got 0.75+ 3mths sibor and max 1.49% cap for first 3 yrs so you can be guaranteed for the next 3 yrs, the max interest rate will not go higher than 1.5%, you might wish to ask your bro confirm with DBS on this

2months ago i take loan fr dbs. 3mth sibor+0.65% thereafter... Legal subsidy n 5years fire ins.

[rattydrama]

wow looks like alot still buying. I will opt for SCB. :-)
NZ bank offer was better the last time I check about 2 months ago.

[azeoprop]

Any idea what uob is offering now? I think i need to do a repricing with them.

[Eastboy]

Is this a trick question?

If not, I take SCB.

Oh sorry forgot to include this info from DBS package :
Cash Rebate :

1st Payout 0.20% of outstanding loan on 13th month from date of first loan disbursement

2nd Payout 0.20% of outstanding loan on 25th *month from date of first loan disbursement

3rd Payout 0.20% of outstanding loan on 37th *month from date of first loan disbursement

*

[hopeful]

Oh sorry forgot to include this info from DBS package :
Cash Rebate :

1st Payout 0.20% of outstanding loan on 13th month from date of first loan disbursement

2nd Payout 0.20% of outstanding loan on 25th *month from date of first loan disbursement

3rd Payout 0.20% of outstanding loan on 37th *month from date of first loan disbursement

*

does the interest expense in 1st post inclusive of cash back already?

[buttercarp]

does the interest expense in 1st post inclusive of cash back already?

Wau... why the DBS loan so complicated one?
I am quite lost too.

[newbie11]

DBS is slightly better after incl rebate. Only couple of hundreds. My clients took up DBS out of convenience after all

[marktkt22]

Agreed, take Scb first ...

take SCB first, can do repricing later
they always hv promotional pack for BUC