Bridging Loan

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With SBI Bridging Loan, you can move in to your new home before selling away your current property. You only need to service the interest during the repayment period; the loan can be repaid once you receive your sales proceeds from your existing property.

  1. Repayment period of up to 6 months
  2. Service interest only during the repayment tenor
  3. Repay the principal only when you receive sales proceeds from your existing property
  4. Competitive interest rates

Terms and conditions apply.

  1. Singaporeans/PRs of age ≥ 21 years and annual income ≥ S$30,000
  2. Minimum bridging loan amount S$30,000
  3. Maximum bridging loan amount S$300,000
  4. Must have proof of sale of existing property
  5. Must take the bridging loan together with home loan for new purchase
  6. Borrowers must pay 5% cash down payment using their own funds
  1. No processing fees
  2. Default fee: 2% of overdue amount in addition to regular interest
  3. No pre-payment/cancellation fees

Documents to be submitted along with the application form (originals to be produced for face to face verification)

If existing property to be sold is a HDB

  1. Option to purchase for existing property
  2. Latest CPF withdrawal statement for existing property
  3. Account statement from existing bank/HDB showing latest loan balance
  4. 1st appointment letter from HDB
  5. In-principle approval letter from HDB
  6. Letter of authorization to HDB
  7. Letter of undertaking by law firm acting in the sale
  8. Caveat lodged on existing property

If existing property to be sold is a private property

  1. Duly exercised option to purchase for existing property
  2. Latest CPF withdrawal statement for existing property
  3. Account statement from existing bank/HDB showing latest loan balance
  4. Exercise letter from the buyer’s lawyer
  5. Letter of undertaking by law firm acting in the sale
  6. Caveat lodged on existing property

Approval of this application is at the bank’s discretion.

  1. Walk in to any of our branches to talk to our relationship managers, or
  2. Email us at loans@sbising.com