Mortgage FAQ

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  1. Attractive Fixed and SIBOR-linked packages
  2. Legal and valuation fee subsidy *
  3. First year free fire insurance *
  4. Interest charged on daily reducing balance
  5. Quick processing time
*Only for Refinancing/Equity loans. Terms & Conditions apply
  1. Borrowers must be of the age between 21 – 65yrs
  2. Singapore Citizens, Permanent Residents and Foreigners may apply
  3. Minimum income (single/joint) per application is $30,000 per annum for Singapore Citizens, Permanent Residents; S$50,000 per annum for Foreigners
  4. Foreigners (both residents and non-residents) are eligible (minimum property value of S$500,000).
  1. All types of private houses, Condominiums and Apartments – completed as well as uncompleted properties
  2. All types of HDB residential units including Executive Condominiums
  1. Purchase of properties (private & HDB)
  2. Refinancing of existing home loans with other banks
  3. Cash-out facilities (Equity Term Loans) against completed private residential properties
  4. We also provide a bridging loan if you are in the midst of selling your existing property and need assistance with down-payment for your purchase
  1. For Home Loans, minimum loan amount is S$250,000
  2. For Commercial Property Loans, minimum loan amount is S$250,000
  3. Minimum loan amount for Bridging loan is S$30,000
  1. Up to 80% of Purchase Price / Property Value, terms and conditions apply.
  2. For refinancing, you may borrow up to the 100% outstanding loan amount with the existing financier, subject to Bank’s approval.
  3. The maximum loan amount will be determined in accordance with the latest MAS regulations
  1. Minimum loan tenure is 5 years
  2. The minimum / maximum loan repayment period will be determined in accordance with the latest MAS regulations.

For latest interest rates or to know about our promotional packages, please call us at 6228 1113/ 6228 1116 or email us at

  1. Monthly installments are payable upon first drawdown of the loan and the installment amounts are calculated based on the disbursed loan amount.
  2. You must open and maintain a current/savings account with us to service your loan installments.
  3. You can also pay your monthly installments using your CPF monies from CPF Ordinary Account.
  1. Completed SBI Mortgage Loan application form duly signed
  2. Copy of NRIC/Passport of applicants
  3. Income Documents: (as applicable)
    • Latest Computerized pay slip
    • CPF contribution history (latest 6-12 months)
    • Latest IR8A form
    • 2 years Income Tax Notice of assessment (self-employed)
    • 2 years Commission Statements (commission based)
    • Copy of the Tenancy Agreement (if available)
  4. Option to Purchase
  5. Latest CPF statement of account (if CPF usage is involved)
  6. Latest CPF withdrawal statement for existing property (if applicable)
  7. Latest 6 months Loan account statements from existing bank/ HDB (for refinance cases)

To work out the loan quantum, SBI will take the lower of the purchase price or valuation price. If purchase price is higher than valuation price, the difference has to be paid in cash.

Yes. Fire insurance is required by the Bank to insure your property against fire. The value is determined by a valuer and the premium is paid annually.

We have various home loan packages with or without lock-in period depending on the promotion/scheme.
Contact us now for more details and we will put together a package that suits your needs.

  1. No pre-payment penalty for no lock-in package
  2. For packages with lock-in, a penalty of 1.5% of the loan amount prepaid applies for any partial/full prepayment made within lock-in period.
  3. In the case of partial pre-payment, you need to give 1 month notice, and 3 months notice in the case of full redemption of the mortgage loan.

The amount prepaid should not be less than S$ 5,000 and any further amounts must be in multiples of S$5,000.