Which type of Home Loan Interest Rate is the best?

Before choosing the Best Home Loan Interest Rates Singapore banks have to offer, it is important to know the different options available to you.

You can choose between:
• Fixed home loan rate
• Floating home loan rate

When it comes to selecting the Best Home Loan Interest Rate from banks, we have observed that fixed interest home loan rates tend to be higher. This is due to you essentially paying a premium for the most secure option, with minimal deviations along the way.

This option is highly recommended for those who prefer the safer choice, with low to minimal risk of changes. A fixed interest home loan will also suit people who are self-employed, freelancers, or are paid based on commission.

In contrast, a floating interest home loan rate in Singapore includes loans pegged to SIBOR, SORA, SOR. Although these loan rates tend to be lower, they are often subjected to fluctuations. This option is only recommended for people who are able to take some elements of risk.

Contact us today to compare the latest most up to date rates for your loans.