HSBC has recently launched a home loan package that is linked to an equity index, the Morgan Stanley Capital International Singapore Free Index. The Singapore Free Index tracks 27 heavy weight stocks in Singapore. Under this new package, customers are charged an interest rate of SIBOR + 1.1% throughout the loan tenure. With the special […]
After a flurry of publicity as a result of a case reported in the newspaper about a woman who was slapped with a $17k liability after the loss of her credit cards, the Association of Banks of Singapore (ABS) recently announced steps to limit cardholders liabilities if their cards were lost or stolen. This change […]
In Singapore, when your credit card is stolen, you will very likely be held liable for the charges on your card before the loss was reported. This policy is stated in the fine print on the contract that you would have signed when you applied for the card. Only American Express (Amex) and Maybank have […]
Recently, Standard Chartered Bank introduced a home loan promotion offering a fixed rate of 1.5% for the first year and SIBOR + 1.35% for subsequent years. This promotion is applicable for loans (for completed homes) taken up till 15th June 2009 and for loan amounts of at least $100k. The lock-in period is for two […]
Starting from 1st March 2009, there will be some changes to the rules for unsecured lending by financial institutions. Presently, unsecured credit is only available to people earning an annual income of $30,000 or more. The changes will see the minimum requirement reduced to $20,000. The requirement for credit cards remain unchanged at $30,000. For […]