OCBC housing Loan, better than other bank?pls debate
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 May 16 2014, 11:07 AM
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#1
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Senior Member
5,155 posts Joined: Jan 2003  
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QUOTE(Chigme @ May 16 2014, 09:47 AM) There's normally a waiting period before you can start the pay down the loan during construction period. This will be stated in your loan agreement or loan term sheet. Actually you can pay down in anytime once they start disbursing to reduce the interest BUT you can't take out any of the money from the capital repayment pool until your principal loan repayment starts. |
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May 16 2014, 02:50 PM
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#2
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Senior Member
5,155 posts Joined: Jan 2003
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QUOTE(Chigme @ May 16 2014, 01:41 PM) Not for my OCBC semi flexi loan though maybe because mine is DIBS. The bank only allow me to pay advance installment few months after the full loan was disbursed to the developer. You should be able to pay advance installment anytime. I always do so. How they going to stop you from paying into your own loan account? |
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May 16 2014, 05:52 PM
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#3
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Senior Member
5,155 posts Joined: Jan 2003
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QUOTE(Chigme @ May 16 2014, 02:58 PM) It is stipulated in my loan agreement. I guess it is not standard across all projects. Might be. But anyway, you don't need to pay any interest also during the construction period because yours is under DIBS. Mine is non DIBS.  QUOTE(gunh @ May 16 2014, 04:51 PM) something new again. I've practice pumping more money into the loan account during the progress payment stages. And no problem at all. I'm using OCBC bank semi flexi home loan. I guess her agreement is slightly different? My properties are non DIBS so those with DIBS might have different set of agreement? |
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