SBI Bank Home Loan (Singapore)

At SBI we work to help you have your dream home! If you are buying your first home or renovating an existing home, you will find that our loan programs are easy to understand and flexible to meet your needs. We offer attractive home loan packages for HDB and private properties.

Benefits and Features:

  • Variable rate option – directly linked to Singapore Average Overnight Rate (SORA); or Fixed Price – provides security against market fluctuations
  • Competitive and attractive pricing.
  • Available for Private and HDB properties.
  • Lockdown Period Promotion / plan.
  • Sponsorship.
  • Legal Fees for New Purchases and Refinancing, Surveys and Electricity Insurance Available! (for refinancing/equity loans only).


  • Borrowers must be between the ages of 21 and 65.
  • Singapore citizens, permanent residents and overseas can apply.
  • For Singaporeans/PRs, the minimum income per application (single/joint) is $30,000 per year; S$ 50,000 per year for foreigners Minimum loan amount of S$ 250,000 per year.
  • Minimum property value of S$ 500,000 for foreigners.


  • No Prepayment Fee.
  • Prepayment / Refund / Cancellation Fee (Depends on Package).

Document Required:

1 Singaporeans / Permanent Residents:

  • NRIC, both parties (ID must include the applicant’s new address)

2 Non Singaporeans:

  • Passport copy and.
  • Work Permit / Work Permit / Certificate of Residence and.
  • Proof of address documents (e.g. driver’s license etc.) Work Different from Pass/Work.
  • Permit/Dependent Pass.

3 Self Employed:

  • ACRA Search + Business Profile/Business License and.
  • IRAS Evaluation Statement from 2 years ago.

4 Employee:

  • Last 3 months pay slip or last 3 months income from employer confirming appointment and induction and.
  • Latest IRAS statement and.
  • CPF contribution history for the previous 12 months.

5 Income:

  • Commission statement for the previous 12 months and.
  • IRAS assessment statements for the last two years and.
  • CPF contribution history for the previous 12 months.

6 Lease Agreement (if applicable).
7 Purchase Option (for new purchase).
8 Loan Agreement from an existing financial institution for the last 6 months (for repayment).
9 CPF Funds Payment for existing assets (if any).
10 CPF Funds (if using CPF) ).

Key Terms and Conditions:

Interest rate: This is the percentage at which the bank will loan you money. It adds up to the amount you owe and determines how much more you’ll pay over time.

Loan term: How long you have to repayment the loan. The longer the term, the lower your monthly payments will be, but the more you pay over time.

Loan Amount: It is the total amount of money you borrow from the bank to buy your house.
Down Payment: It is the down payment you will pay with your savings. In Singapore, you usually have to pay part of the price upfront.

Processing Fees: Fees for processing your loan application. It includes the administrative work required to obtain loan approval.
Early Payment: If you want to close your loan before the agreed time, the bank will pay you the amount according to the payments it will receive while you are still paying.

Late fee: If you do not make your monthly payments, your bank will charge you a late payment fee. Remember to pay on time to avoid additional costs.

Fixed and Variable Rate: A fixed rate means that your interest rate stays the same throughout the life of the loan.
The variable rate means it can vary by market and affect your monthly payments.

Collateral: Your home is often used as collateral, which means the bank can issue title deed to the property if you fail to pay off the loan.

Insurance: Some banks require you to have insurance to protect your property. This is to ensure that if something happens to the property, the loan can still be repaid.

Credit Score: Your credit history affects whether banks will give you loans and the interest rate they will offer.
A good credit score can provide you with better opportunities.

Terms and Conditions: These are the detailed rules of the loan agreement. Make sure you understand them before signing, as they outline your responsibilities and the bank’s policies.

Remember that it is important to read and understand all terms and conditions before purchasing a home loan. If you have any questions, please contact the bank.
You can consult a financial advisor if necessary to make sure you are making the right decision for your situation.

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