Category Archives for Financial Planning
StanChart Housing Loan Promotion
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 […]
Unsecured Credit Rules to be Revised
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 […]
Higher Investment Minimum Threshold for Special Account
Starting from 1st May 2009, we will not be able to invest the first 30k in our Special Account (SA). This is an increase of 10k from the current minimum of 20k. The reason given by the CPF board is that the SA has a higher risk free interest rate, thus it is better to […]
Helping the Needy with ComCare
There was an article in the newspapers yesterday about various schemes provided by the government to help the needy. Unfortunately, due to a lack of awareness, many needy people might not be tapping on the funds available in the schemes. For example, out of the $6.25 million set aside for the ComCare fund for this […]
Fund Transfer Interest Combinations
Making use of unsecured credit lines can be dangerous if one uses them to buy things he or she cannot afford. It can quickly snowball into a deadly spiral of multiple debts if left unwatched. Nevertheless, they can be useful if someone uses them to pay off another debt which has a higher interest rate. […]