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Business Property Loan is a purchase or refinance loan for your property. It can also be an opportunity for you to secure additional working capital

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Business Property Loan

Business Property Loan is a purchase or refinance loan for your property. It can also be an opportunity for you to secure additional working capital

Business Property Loan with attractive features

Our Business Property Loan offers extensive property coverage, a high financing quantum and a flexible repayment period.

Features

Simple and Hassle Free Application Process

We have simplified the documents you need to produce with your facility application so that you can focus on building your business.

Complimentary Current Account

Get a complimentary current account (No initial deposit required for opening of the account).

Latest Industry update

Shortening of Business Property Loan Redemption Notice Period  w.e.f. 1st Jul 2021

Eligibility & Documents

Eligibility

  • For purchase or refinancing of residential properties and industrial properties
    • Companies, Partnerships, Sole proprietors

Documents Required

  • Latest 6 months bank statements
  • Latest 2 years audited financials including Profit & Loss statement and Balance Sheet
  • Latest 2 years Income Tax Notice of Assessment of individuals/ sole proprietors / partners or principals of companies
  • Specific details would be provided by the sales officer

Fees and Charges

ITEMS
DETAIL
Partial Redemption Fee 1.5% partial redemption fee based on the amount of Mortgage Loan redeemed during the Lock-In Period.

You may redeem your loan partially by serving 1 month’s notice in writing to us or by paying 1 month’s interest in lieu of notice. The minimum partial redemption amount is S$10,000.
Full Redemption Fee 1.5% full redemption fee based on the amount of the Mortgage Loan redeemed during the Lock-In Period.

You may redeem your loan in full by serving 2 months’ notice in writing to us or by paying 2 months’ interest in lieu of notice.
Cancellation Fee 2% cancellation fee based on the amount of Mortgage Loan cancelled or deemed cancelled by the borrower.
Late payment fee S$40
Default rate 5% above SGD Prime lending rate* on the overdue instalment amount
Repricing Fee Administrative fee of S$3,000
This pricing guide does not cover interest rates on your Mortgage Facilities. If we vary the interest rate, we will do so by giving you at least 30 days’ notice before the variation takes effect and notifying you of the effective date of the revised interest rate. For more details, please refer to your Facility Letter for the respective Mortgage Facilities with us.

FAQs

  • The maximum tenure of the facility is up to 25 years for new property purchase or up to 30 years for property refinancing.

  • We can finance purchase of completed or under construction properties (Commercial Units, Industrial Units or Residential Units).

  • You can prepay all of your loan if you provide us with at least 2 months written notice. You can prepay part of your loan if you provide us with at least 1 month written notice. In addition, please note that you will incur a charge of 1.5% on the amount prepaid if you make any prepayment within the first 2 years of the loan disbursement.

  • We offer attractive interest rates on the facility depending on loan amount, credit assessment and other parameters. Further details will be provided by our sales officer.

  • Yes. You can apply for a Business Property Loan to tap into the unencumbered value of your property.

Terms and Conditions

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

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