About Maybank Home Loans
Maybank home loans are offered by Maybank, a Malaysian bank that has been present in Singapore since 1960. It operates as a fully-licensed commercial bank with over 27 service locations in Singapore. It's also part of ATM5, which is Singapore's only shared ATM network present in over 150 locations of the 7 QFBs.
In 2009 it became the first and only bank to receive triple certification for Singapore Quality Class, Singapore Service Class and People Developer from SPRING Singapore. At the 6th Retail Banker International Asia Trailblazer Awards held in 2015, Maybank achieved an Excellence award in overall mobile banking, as well as several other awards.
As of December 2014, Maybank's total assets in Singapore were S$57 billion. With an employee strength of 1800 people, the bank is committed to provide a high standard of services to its clients in Singapore.
Maybank offers a full suite of financial services for:
- Personal banking (including Maybank credit cards, insurance, investment options, loans, deposits and banking).
- Private wealth
- Premier Wealth
- Wholesale banking (including business credit cards, deposits and banking, payments and remittances, financing and corporate e-banking services).
- SME banking
- Islamic banking services.
Maybank Home Loans
Maybank provides a variety of home loans for different consumer needs. These property loans can be used to finance private property and HDB flats in Singapore, or overseas property in Malaysia and London. It offers home loan packages for new purchases as well as refinancing.
HDB Home Loans
Maybank's home loan packages give you a choice of either fixed rate packages or floating rate packages. It uses a single board rate known as Singapore Residential Financing Rate (SRFR).
- The loan is extended to all HDB flats (including Build-to-Order scheme) and apartments under Design, Build and Sell Schemes (DBSS) with more than 30 years remaining lease.
- The maximum loan quantum is 80% of net purchase price or market valuation, whichever is lower.
- A fire insurance is required by the bank in order to insure your property against fire hazards.
Home Loans For Private Residential Properties
Borrowers can look forward to either a Singapore Interbank Offer Rate (SIBOR) or a variable rate package of their choice.
- The loan is extended to all private residential projects, including privatised HUDCs or executive condominiums with more than 30 years remaining lease.
- The loan package offers a maximum loan quantum of 80%, subject to borrower's eligibility.
Malaysia Property Loan
Maybank also provides financing for properties in Malaysia but giving you the convenience of financing the property purchase from Singapore. The loan is pegged to the 3-month SIBOR rate and denominated in Singapore dollars, giving you the advantage of favourable exchange rate movements. You can obtain financing of up to 70% of the purchase price or market valuation, whichever is lower.
Maybank Home Loan Eligibility
Borrowers must be at least legal age of 21. All home loan packages are open to Singapore citizens and Singapore permanent residents. Foreigners can also apply for any of the above Singapore property loans.
Maybank Home Loan Fees And Charges
- Administration fee for loan restructuring/variation: $500
- Fee for rescheduling the redemption date: $200
- Safekeeping of title deed for loans that are fully repaid: $500 a year per title deed
- Ad hoc request for housing loan redemption statement: $100 per request (except for the preliminary and final statements which are complimentary)