About RHB Bank Home Loans
RHB set foot on Singapore in 1961 and has since gone through a string of corporate mergers and restructuring before becoming what it is today.
First established as UMBA, the bank adopted strategic expansions and evolved throughout the years, becoming RHB Bank Berhad Singapore (RHBS) in 1999.
Today, RHB Bank is a fully licensed bank with more than 50 years of banking experience. The bank currently has a fleet of seven branches and many Bureau de Change counters at Singapore Changi Airport to provide holistic banking needs for the Republic.
The main services provided by the bank are:
- Business banking
- Consumer banking
- Corporate banking
- Investment banking
The bank has attained several awards and achievements that marked its veteran position in the banking field.
These include being the first full bank to receive the Singapore Service (S-Class) award in 2007, Best Customer Experience Management of the Year awarded by Asia Pacific Customer Service Consortium (APCSC) in Hong Kong in 2007, Singapore Quality Class Award by SPRING Singapore in 2010, Customer Service Center of the Year by Asia Pacific Customer Service Consortium (APCSC) Hong Kong in 2012 and Singapore Quality Class Star Award by SPRING Singapore in 2013.
RHB Bank Home Loans
RHB offers financial solutions to suit different needs for either HDB home loans or private property loans.
HDB Home Loans
HDB home loans come in variable rate and fixed rate packages. If you're refinancing your home, the bank also provides a legal fee subsidy of 0.5% of your loan amount, subject to a maximum of $2,500. You can borrow up to 80% of the property's value.
You can make a partial prepayment of up to 20% of your home loan with no pre-payment penalty, even during the lock-in period.
Private Residential Home Loans
The loan packages for private housing come in variable rate an fixed rate packages, and you can get a loan quantum of up to 80% of the purchase/valuation price.
Malaysia Residential Property Financing
The bank also offers the financing of Malaysian residential property with a high financing quantum of up to 80% of purchase price and a loan tenure of up to 30 years.
RHB Bank Home Loan Eligibility
- For RHB Bank HDB home loans: only Singapore citizens and permanent residents are eligible for these loans.
- For RHB Bank private property home loans: Singapore citizens, permanent residents and foreigners may apply.
- Minimum age: at least 21 years old.
- Must possess an annual income of at least $24,000.
- Borrowers must adhere to the government's existing requirements for Loan-To-Value (LTV) limit and Mortgage Service Ratio (MSR).