HDB loan vs bank loan: how to decide which is best for you

Copyright: duoduo / 123RF Stock Photo

When deciding on what is probably the biggest loan you will ever take in your life, it’s quite safe to say that understanding what you’re getting yourself in to is of paramount importance. With everyone keeping one eye on how the US Federal Reserve will affect interest rates in the year to come, how should you decide on what type of home loan to take?

There are quite a number of significant differences between an HDB Concessionary Loan and taking a loan from a bank. But if you don’t have the time to read up on all the little details just yet, here’s quick video to point you in the right direction:

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This post appeared first on the MoneySmart blog. MoneySmart.sg is Singapore's leading personal finance portal that helps you to maximize your money. Like us on Facebook to keep up to date with our latest news and articles. Compare and shop for the best deals on Loans, Insurance and Credit Cards on our site now!

See also: 5 things to know about home loans, why you shouldn't overspend on centrally-located HDB flats in Singapore, 3 things to know about withdrawing your CPF money for your HDB flat, renovation costs for BTOs and resale flats, 6 tips to saving up for your HDB flat before the wedding, the HDB flats you can afford with a monthly income of $4,000, and how you can afford a four-room HDB flat with just $200,000.