Which type of Home Loan Interest Rate is the best?

Wondering how to choose the Best Home Loan Interest Rate in Singapore? Should you go for a Fixed home loan rate, or a floating home loan rate instead in 2022?

First let’s explore the differences!

When you choose a fixed interest loan, you are protected by a stable costwith minimal changes along the way. However most home owners who take up this are likely to pay a higher premium as compared to others.

This option is more recommended for those who prefer a constant stable rate offered without running the risk of huge changes. This includes those that are self-employed, freelancers, or earn through a commission based system.

On the flip side, a floating interest loan in Singapore includes loans pegged to SIBOR, SORA, SOR. The upside is having a lower premium to pay as compared to the previous option. However this choice can be affected to random changes during the course of your payments. Therefore this option is more those that are able to endure or accept varying degrees of risk.

Contact us today to compare Best Home Loan Interest Rate you can get! Find out which type of interest rate is more suitable for your needs.