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 years.
In addition, Standard Chartered Bank is also providing one-hour approval in-pincipal, free valuation, free fire and home content insurance for the first year for private properties and throughout the loan tenure for HDB properties.
A legal subsidy equal to 0.5% on loan amount or $2000 (whichever is lower) will also be given.