We are making changes to the Mortgage Facility Terms to clarify the following:

– The rate reductions in Part B1 – Priority Mortgage Plus Terms are for illustrative purposes only.

– You should refer to your letter of offer for the Priority Mortgage Plus interest rate reductions applicable to your respective mortgage facility.

The changes will take effect on 22 July 2024 (“Effective Date”).

A summary of the changes to the Mortgage Facility Terms is set out below:

– Clauses 15.2, 15.4, 15.5, 16.5 will be amended as follows:

15.2 Based on the total amount of Eligible Deposits you place with us using Fresh Funds, the Interest rate of your Priority Mortgage Plus facility will be reduced by specified percentage points for corresponding periods of the Tenor of your Priority Mortgage Plus facility. The percentage points by which your Interest rate will be reduced and the corresponding period of Tenor to which such reduction applies is specific to your Priority Mortgage Plus facility and will be set out in your letter of offer. An illustrative example is set out in Table A below.

Table A (For illustrative purposes only. Please refer to your letter of offer for the Interest rate reductions applicable to your Priority Mortgage Plus facility.)

15.4 Based on the total amount of Eligible Unit Trust(s) or Eligible Insurance Policy(ies) you subscribe for or purchase through us, the Interest rate of your Priority Mortgage Plus facility will be reduced by specified percentage points for the corresponding periods of the Tenor of your Priority Mortgage Plus facility The percentage points by which your Interest rate will be reduced and the corresponding period of Tenor applicable to which such reduction applies is specific to your Priority Mortgage Plus facility and will be set out in your letter of offer. An illustrative example is set out in Table B below.

Table B (For illustrative purposes only. Please refer to your letter of offer for the Interest rate reductions applicable to your Priority Mortgage Plus facility.)

15.5 We will notify you in writing of the final reduced Interest rate applicable to your Priority Mortgage Plus facility before the Effective date of your Priority Mortgage Plus facility.

16.5 We may vary the following at any time:

• the number of percentage points by which the Interest rate of your Priority Mortgage Plus facility is to be reduced; and/or
• the period of time for which such reduction is to apply.

– Labeling of clause 16.6 and amendments:

16.6 If we vary the Interest rate of your Priority Mortgage Plus facility on or after the Effective date of your Priority Mortgage Plus facility, we will notify you of the effective date of the revised Interest rate of your Priority Mortgage Plus facility. Our rights to vary, as set out in this Clause 16, are in addition to our other rights to vary which are set out in our banking agreement.

Should you wish to discuss which mortgage facility suits your personal banking needs, please contact us and we can also explain the features and terms of our mortgage facilities. Please refer to your letter of offer for additional terms and conditions.

Where do I preview or obtain a copy of the revised terms?

Please click here for a preview of our revised Mortgage Facility Terms.

From the Effective Date (inclusive of this date), you may visit any of our branches or call our 24-hour Client Contact Centre at +65 6747 7000 to request for a hard copy of our revised Mortgage Facility Terms.