6 New Startup Schemes in Singapore for 2017

6 New Startup Schemes in Singapore for 2017

All startup schemes in Singapore need funding. How much are you willing to spend on it? More importantly, do you have enough funds for it?

Moreover, how will you launch and start your company if you lack the money to turn up the gear? So funding your business is a priority.

You must be thankful that startup schemes in Singapore are available. Also, the country offers grants to aid startups with promising futures.

However, there are various new schemes and grants present. So how will you know which one applies to your upcoming venture?

The Best New Startup Schemes in Singapore

Startup SG Founder

Eligibility for startups:

  • First-time entrepreneurs who are Singaporeans and Permanent Residents
  • Must hold or propose to hold at least 30% equity
  • The company must have at least 51% of local shareholding

This grant provides mentorship and startup capital of up to $30,000 for first-time entrepreneurs. In addition, it will match $3 to every $1 raised by the entrepreneur. It means that you can raise up to $30,000. It is the maximum possible funds from this grant.

SPRING selected Accredited Mentor Partners (AMP). Its responsibility is to choose qualified applicants. However, it looks for its unique business concept, feasible business model, strong management, and potential market value.

Remember, the application will not be granted if the company receives funds from another government organisation.

If you want to apply, you must submit all the requirements. These are a duly accomplished application form, your ACRA e-statement, business plans or your management teams’ CVs.

Upon successful application, startups will receive learning programs and networking contacts. All these are in addition to their funds.

Startup SG Tech

Eligibility for startups:

  • Startup applicants are registered or incorporated in Singapore
  • The company must be an SME. In addition, you must have a Company Group annual sales turnover of less than S$100 million. Plus, it must be at least 30% local shareholdings.
  • The company must not be older than 5 years at the date of application.

The Startup SG Tech is for a startup with promising proprietary technology solutions and a scalable business model. They can give the funds from this grant at the startup’s early stage to commercialise proprietary technology.

Moreover, the grant will ask for an equity component for SPRING. It keeps the company towards a growth-oriented mindset. Plus, it cultivates greater financial discipline.

Unlike the Startup SG Founder, you may apply to Startup SG Tech even if you have already received a grant from another government organisation. It is possible if the funding is for a different project. And even if you get rejected, you can still reapply. However, you must provide that you can address the highlighted reasons for rejection.

Once approved, you will receive funds upon the completion of each milestone. It starts from the Pre-requisite milestone. First, 20% of the grant will be released to help you kick-start your project. Then, they will release the rest of the funds depending on the verified completion of milestones.

Startup SG Equity

Eligibility for startups:

  • A Singapore-based company
  • Have paid-up capital of at least $50,000
  • Incorporated for not more than 5 years
  • Can prove substantial innovative and intellectual content of service, products or application
  • Have identified a third-party

With Startup SG Equity, the government will co-invest with an independent third party investor. It is their strategy to help a startup.

Furthermore, the grant focuses on three sectors. These are Urban Solutions and Sustainability, Health and Biomedical Sciences, and Advanced Manufacturing and Engineering.

To apply for this grant, you must email them. Send your business plans and financial statements to seeds@spring.gov.sg. Also, you might have to provide additional requirements. These are Business ACRA and the background of potential third-party co-investors. But keep in mind that it is only possible if applicable.

new startup schemes in Singapore

Startup SG Accelerator

This grant does not directly fund the startups. Instead, it funds the business incubators to help create a sturdy startup.

With incubators and accelerators, they can get funds and non-financial support. It helps to nurture startups and help them have the best outcome.

The Startup SG Accelerator may cover three different types of costs:

  • Programmes to nurture startups. It can help develop new services or products and improve market access.
  • Funds to hire mentors and experts. In addition, it provides management and technical guidance for startups.
  • In addition, it can cover operating expenses. However, it is only partial, as determined by SPRING Singapore.

Startup SG Talent

The Startup SG Talent is to create a more conducive environment. Also, it focuses on better leverage for innovative startups to market globally. Under the Startup SG Talent are three schemes:

  • EntrePass is a scheme which allows foreigners to jump-start their startups in Singapore. The startup applying for EntrePass must not be older than six months. In addition, it has at least $50,000 in paid-up capital.
  • Technology for Enterprise Capability Upgrading (T-UP) funds 70% of the secondment costs. It means it can support the research of scientists and engineers. But it must have a partnership with Agency for Science, Technology and Research (A*STAR).
  • SME Talent Programme (STP) for Startups facilitates internships. It goes well between students and technology-based local startups. Those schemes foresee the startup needs for recruitment, retention and talent management through the development of human capital capabilities.

Startup SG Loan

Startup SG Loan has Government-funded loans for startups. These loans are for SMEs which need funds for equipment financing, working capital or trade financing. In addition, there are two types of loans under this scheme:

  • SME Micro Loans are for startups. It is for those who need working capital financing of up to $100,000. Also, the company must have not more than 10 employees.
  • SME Venture Loan is for high-growth companies who want to expand their business. They can get as much as $5,000,000.

However, what if you need funds for a sudden need. Can you wait for an indefinite time for the grant to be processed?

We all know time is money. If you need additional funding right now, you can get a loan from Cash Mart. Call Cash Mart today at +65 6397 4111 or visit the office in Balestier Road to know more.

3 Practical Tips to Build Retirement Savings

3 Practical Tips to Build Enough Retirement Savings

Got your retirement planned out? Do you want to build enough retirement savings? Then, check if you are ready with these practical tips.

Over the years, Singaporeans have changed their perspective on retirements. Years ago, people thought that retirement stops work and then relax with time at their own disposal.

Now, millennials think that retirement is earning passively or with a job related to something they enjoy. They also aim for a life with financial freedom. As a result, they are more optimistic about their retirement plans than the older generations.

The Manulife Investor Sentiment Index revealed that eight (8) in every 10 Singaporean investors believe that they can maintain or improve their lifestyle even after they retire.

However, this same survey says that 49% of millennials fall behind their original financial goals due to finances and health concerns. In addition, most of them want to work (at least part-time) after retirement age. But, health conditions might make it impossible.

Also, they expect to take care of their own children and their retired parents. These responsibilities sandwich them. Moreover, they believe that they must not expect financial assistance from their children by the time they retire. If this is not enough financial concern, they must consider possible debts and mortgages even after retiring.

So how will Millennials build enough retirement savings?

build enough retirement savings

Credit: https://ocubc.com/rrsps-retirement-savings-plan/

3 Tips to Ensure and Build Enough Retirement Savings

Know your retirement goals

The first part of planning is knowing your goal. It has to be specific and attainable by ensuring that your goal is realistic. Here are things to consider.

  • Inflation

Due to inflation, your money’s worth now will not be the same in a decade. What your $1,000 can buy now will not be as much by 2028. Recognise that inflation will weaken your purchasing power. Therefore, it will give you an idea of how much you should save up before retiring.

  • Retirement age

Decide when you would like to retire. The retirement age in Singapore is 62 years old. If you would like, you can retire earlier, but you have to consider the lifestyle you will adapt to during retirement. Then, you can tell yourself the number of years left to save up.

  • Salary

Aim to draw an amount of at least two-thirds of your last monthly income. It may be an ideal amount, but this can still vary. It depends on the amount of your salary and current lifestyle.

  • Life expectancy

Another thing you have to consider is the number of years you would expect your savings to last. There is a strong possibility to live up to 80 years old. However, imagine if you have outlived your savings by 75. How are you going to survive then?

  • Retirement Calculator

A retirement calculator is a tool that gives you an estimated retirement income. We may all have our own individual needs, but it is better to know how much you might be spending during your retirement. Also, these calculators may give you an insight into what else you should consider. Make sure that the retirement calculator assumes the inflation.

Assess your current finances

Now that you have worked out how much you’ll need to save, you need to evaluate how much you can save. But you need to base it on your current financial status. At this stage, you need to maximise the ability of your savings. Therefore, pay off any outstanding loans and liabilities before you retire. Or at least minimise your debt obligation.

After knowing the funds, you expect to save until your retirement. So calculate its difference with the amount you will need. Do not forget to review your insurance coverage. It can help you reach your goal.

Start your retirement savings plan.

Take the time to learn about investing. You may have heard about its risks and potential returns. But, understanding the trade will help you get the most out of it.

Ask yourself how much you can afford to lose and not risk anything beyond it. Consider your insurance policy, CPF Special Account and Supplementary Retirement Scheme (SRS), Index Funds, Mutual Funds and other Equities and Property investments.

Moreover, constantly monitor your retirement plan. Make necessary adjustments if needed to avoid falling behind. Finally, create a budget and stick with it. It ensures that you can save as much as possible. Also, talk with a financial adviser if you are unsure where to start with your retirement plan.

Of course, there will be times when you have to get a personal loan. You can use a loan to get to a better financial status without getting back to stable finances. Make sure that you get your personal loans from trusted moneylenders such as Cash Mart.

Cash Mart offers multi-purpose personal loans. The 45 years of experience building a lasting relationships with satisfied clients sets it apart from the others. Aside from loans, Cash Mart also offers tips to its clients on how to handle their finances better.

Visit CashMart.sg today to find out more.

10 Clever Small Condo Design Hacks For A Bigger Look

10 Clever Hacks to Make Your Home Look Bigger

An affordable unit might cramp everything in. Make your home look bigger with these small condo design hacks.

The post update was on July 24, 2017.

As of July 2017, data from Expatistan shows that monthly rent for a 900 sq. ft. unit in an “expensive” area costs more than SGD 3,000.

However, a 2016 study revealed that housing policies—such as income ceiling, the extent of increase in rentals, and other requirements—aren’t suitable for low-income families. No wonder. Some social workers feel that they cannot help their clients regarding housing.

Good thing the Singapore government has amended its housing regulations for singles. Add to that the housing loans that POSB and DBS offer. The Housing & Development Board (HDB) also offers housing schemes for multi-generation families.

But not everyone can afford a house that would fit their entire family. So the least they could do is look for an affordable unit and cramp everything in. Good thing that there are home decor and design hacks that you can do to make your home look bigger.

Colour Your Walls with Something Light

It’s always advisable to keep things light when choosing a colour scheme for small condo design hacks. Softer hues make everything look spacious, while darker colours make your space appear smaller.

When choosing what colour to paint your walls, Tara Mastroeni advises that you use three hues:

  • Two light, bright shades to paint the majority of your apartment.
  • One darker accent colour to make things visually interesting.

If you prefer bold colours like red, orange, or yellow, you can do so in one apartment section. Then, pick another one as an accent.

Just remember to limit your use of bold colours. Too much of it in a tiny space can be overwhelming.

Create Space Depth Using Mirrors

Mirrors add detail and function to a room without taking anything from it—making it ideal for apartment living. And knowing how best to place it in your room can make you get the most out of it.

Jess Kumanovski advises that you hang a decent-sized mirror at the far end of a room. It will reflect the entire space, giving the illusion that it’s twice the actual size.

Also, you can hang one opposite a window or in a dark corner of your home to reflect natural light. It will make your space look brighter.

Make Use of Stripes

Stripes help bring order in space. According to Lauren Flanagan, “they have the power to reshape a room depending on how they’re used.”

The best thing about this pattern is that they mix well with solids, floral, and other designs. These make stripes ideal when decorating a small home.

Moreover, it helps define functional zones in the room and can hide minor wall damages like rough spots. The small condo design hacks are ideal for bedrooms, bathrooms, and small kitchens.

Vertical stripes create an optical illusion that alters the width and length of the room. As a result, it can make a low ceiling feel higher. On the other hand, horizontal stripes push the wall outwards. It tricks your eye into thinking it’s bigger and feels longer.

Just make sure that your wall and furniture are colour-coordinated. Ordinary home furnishings can make any space look dull.

Hang Light-Coloured Drapes

If you want to make your window look large, the trick is on how you hang your drapes.

Install curtain rods a couple of inches below the ceiling. It will make your visitors draw their eyes upward, making your window look taller. If you want to make it look wide, hang the rods past the side of the window frame.

Another thing you can do is choose a curtain that matches the colour of the wall. The colour blending creates a continuous line, making the room appear prominent.

Better yet, don’t hang drapes at all. It’s the most affordable way to make your window appear big.

Choose Space-Saving Furniture

Every inch counts when you have a small space. So invest in space-saving furniture to make the most out of it.

Look for pieces that have double duty. For example, it can be a bed that you can fold into a sofa or an ottoman that also serves as storage.

You can also opt for transparent or acrylic furniture like a glass coffee table. According to Yuka Yuneda, transparent lines prevent visual interruption. Thus, you perceive a less cluttered space.

What’s important is to select furniture appropriate to the size of your space. Otherwise, your apartment will be cramped.

small condo design hacks

Credit: https://www.realliving.com.ph/home-improvement/decorating/your-10-favorite-small-spaces-ranked-a00010-20160615

Small Condo Design Hacks: Install Wall Art 

Installing wall art is usually considered an afterthought. However, having one can help provide for the entire room.

For one, wall art can inspire you on what paint colour you should use on your wall. Also, it can serve as a focal point in the room while clearing out valuable drawer space.

Aside from paintings and picture frames, you can mount bookshelves on the wall. Better yet, use the shelves to showcase your collectables. What’s essential is to coordinate that wall art with the entire room’s theme.

Mount Small Lamps on Shelves

According to Wendy Cassidy, “a small room with poor lighting will feel cave-like and claustrophobic.”

A properly lit room must have three sources of light. However, this may not be possible when you live in a small flat. It is where track lights can help.

This fixture is ideal for a modern home, especially if you want to highlight a particular section of the room. For example, you can replace a ceiling fixture with a monorail track light to illuminate a hallway. Meanwhile, pendant track lights are ideal for the kitchen and dining area.

If a track light installation is off-budget, you can mount small lamps on shelves. Why? Because small lamps distribute light better.

Remember: Perfect lighting can make you’re interior look more appealing.

Buy Colour-Coordinated Bedding

Colour-coordinated bedding is the foundation of your bedroom’s design. Thus, it’s important to think of the colour scheme. In this case, you can choose to either have a solid colour or patterned bedding.

Solid colour bedding gives a relaxing and zen-like vibe. You can achieve this through the monochromatic colour scheme. To do that, pick the primary colour. Then, layer it with lighter or darker shades.

On the other hand, patterned bedding allows you to be flexible with your bedroom design. You can add small doses of your main colour with your bedding. However, it quickly becomes outdated. Avoid boredom by choosing only one patterned piece with one or two small accents.

What’s important when decorating a bedroom is to know your style. According to Diana Hathaway Timmons:

“Before you can choose the best colours for your bedding, you need to decide what bedding style you prefer. If you start shopping for bedding by colour, you can end up with bedding that does not work with your style.”

Use the “Rule of Thirds” for Your Wall

Most of the time, the “Rule of Thirds” is used in photography. However, you can use the same principle when designing a small apartment. Here’s how:

  1. Pick a wall on which to place your artwork or picture frames
  2. Imagine an overlay grid of two vertical and two horizontal lines dividing the wall into equal thirds

The centre square will be your focal point. From here, you can place any hanging art near the lower thirds. Shelves or storage are close to the upper third.

Keep Your Things Organized

Storage is king when you live in a small apartment. It can be as simple as keeping your loose pennies in a piggy bank, putting your pens in a jar, or folding your clothes using the KonMari method so they won’t eat up space in your closet.

However, storage and organising don’t mean filling up all the space in your home. So when buying a home décor, keep the cantaloupe rule in mind. It means that you shouldn’t use any piece smaller than a cantaloupe.

tiny apartment room and small condo design hacks

Credit: https://www.livabl.com/2015/06/tiny-apartment-hacks.html

Find the Balance Between Design and Functionality

Living in a small house, apartment, or flat has its advantages. They’re much more affordable or have lower rent. Easy to maintain and has a cosy charm. However, limited space is a challenge when it comes to interior design.

Regardless, you shouldn’t skip that part for the sake of functionality. Instead, what’s important is finding the balance between design and functionality. Therefore, consider these small condo design hacks for you space. 

Mutual Funds: What Are They?

Mutual Funds: What Are They?

Mutual funds are thought to be synonymous with investments. But do you really know what it actually means and how it works?

Investing always gets hold of Singaporeans’ interest. People tend to value finding alternative ways to earn more and save more. Folklore of Finance research proved it when Singaporeans topped the financial literacy test. However, only 5 per cent of investing Singaporeans genuinely believed they were ready to achieve their investments goals.

According to the same research, Singaporeans often give credit only to themselves for successful investments. 66% of investors claim that their best investments are only due to their decision call. It only reflects that most investors do not value the importance of soliciting professional advice. Also, they do not value getting further education on investing. Since there is a very high level of pride, they are usually afraid to ask questions about things which seem to be common knowledge among other investors.

If you usually ride the MRT, there is a high chance you have encountered sleek looking financial advisors. They try to sell mutual funds, which seem synonymous with investments. However, most Singaporeans will not admit that mutual funds puzzle them. So, here are the basic things you must know.

mutual funds in Singapore

Credit: https://www.livemint.com/market/stock-market-news/how-to-pick-stocks-using-mutual-fund-portfolio-fact-sheets-11648016965047.html

Mutual Fund is a Portfolio

A portfolio is a collection or grouping of financial assets. It can be bonds, stocks, funds counterparts, and cash equivalents. Moreover, investors keep their own portfolios. It includes Risk Tolerance or the level of returns variability the investor is willing to withstand and the investment objectives.

Mutual funds itself is a portfolio of assets. However, unlike personal portfolios, it contains collective investments involving hundreds of people. In addition, it gives small investors access to financial assets managed by professional fund managers.

Though this involves a lot of people, each one has an equal proportion of gain or loss. They can access the portfolio and see the investment objectives, which should ideally match its prospectus. Funds have an obligation to declare information that may affect the investors’ decisions.

You can purchase the mutual fund units at the fund’s latest Net Asset Value (NAV). NAV calculation is by dividing the total value of the securities in the whole portfolio by the total number of outstanding shares. However, investors cannot just sell their units at their whims. Why? Usually, there are rules on the number of units to be sold and when they can sell these.

Active Advertisement

Why do you usually hear about mutual funds? Also, why are they aggressively advertised? There is a rave of mutual funds advertisements these days mainly because you can make lots of money with them. For example, if a fund manager is entitled to 1% of the portfolio’s assets a year, it may not seem that big. However, if the assets total $40 million a year, $400,000 will go to the fund manager.

Another reason why it seems to capture the interest of many is the usual behaviour of Singaporeans when thinking about retirement. But, of course, everyone wants to secure retirement at ease. Or even better: an early retirement with the least financial worries.

Which Mutual Funds Should You Get?

There can be various lists of top mutual funds existing on the net. However, you should be mindful of how you will choose the one to invest in. Do not just invest in the first mutual fund you encounter. It is better to research its annualised returns over a 10-year period. While a fund manager holds the mutual funds well, that person may not stay there forever. You can change the person managing the fund in a few years’ time. Thus, the performance of the assets in the market may quickly change. It is better to see its performance for ten years to give you a more realistic idea of how it will fare in the future.

Not all mutual funds will show you their comparable rate of return. Therefore, it is better to ask for its Total Expense Ratio (TER). TER is the amount of money you are paying for the management and marketing of the mutual fund. For example, if the fund returns are at 6%, yet the TER is as high as 3%, you gain 3%. Various mutual funds have different TER fees.

Mutual Funds Eligibility

The Monetary Authority of Singapore (MAS) strictly monitors Collective Investment Schemes (CIS). Therefore, check the list licensed by MAS when choosing a mutual fund. It only ensures you that your investment will be a legitimate product that is not blacklisted. However, this does not guarantee that this is a quality mutual fund that will yield high returns.

No matter how believable and promising a mutual fund, it is unregulated. So then, your investments are not secured. That’s why it will be hard to go after the responsible people. It is better to talk with a financial advisor to assure diversification. Some investors buy the same assets just. Why? They don’t research well as some shares go in different names, yet from the same company.

Reselling Mutual Funds

Reselling mutual funds may have specific guidelines. So to avoid incurring penalties, check the mutual fund regulations concerning to whom can you sell specific units. While mutual funds can be an excellent investment to save up for the future, they may also damage your finances if you are not careful. If you do not understand the product, it is best not to buy it.

Do not miss the chance to strike a great deal on investments if you find an opportunity to strike a great deal. Get a personal loan from Cash Mart.

Low Interest Personal Loans

Low Interest Personal Loans

People get low interest personal loans for various reasons. Some call it for emergency needs, while others want to boost their credit score. It is handy even for business owners who want to kick start a micro business.

Low interest personal loans are helpful for those who are not confident in getting a loan from banks or borrowing money from their friends and relatives.

What is Personal Loan?

Personal loans are unsecured loans usually used for immediate cash needs. It is quite handy if you can’t pledge property such as a home or vehicle. And since there is no collateral, the process will be shorter. Nobody is sure about his/her finances. There will be times when a cash need suddenly pops up when you think your finances are perfectly balanced.

Good thing there are personal loans within easy reach. You can use personal loans in a myriad of ways. For example, you can use it as a bridging loan to pay for your car’s downpayment. Also, you can use it to buy gadgets, consolidate existing loans and even add it to your emergency cash for your trip abroad. There will be many options, but not all will have competitively low interest rates.

Benefits of Personal Loan

There are various types of personal loans. Some are multi-purpose, while others have specific use. Before applying for a personal loan, make sure that you have a clear purpose. This way, you will be able to use it smartly.

Some Singaporeans use a personal loan to pay for their car’s minor repairs. There are times when a minor car repair can make you lose your No Claim Bonus insurance policy. It means that you can enjoy a benefit if you do not claim your insurance for a certain time. Usually, insurance providers waive some fees or give a 20-50% discount on the premium. Furthermore, it means more savings in the long run. Others use personal loans to consolidate other existing loans.

If you have a couple of loans to pay and have a hard time tracking each due date, a consolidation loan comes in handy. You can use a personal loan to pay off other loans. Then, you just have one loan to pay and track. Another use for low-interest personal loans is for your home’s minor renovation. Do you need to fix a sudden plumbing problem but have no extra budget? Get a personal loan to ease your mind. Even if you’ve got a credit card, there is no denying that there will still be places where you will need to have cash in your pockets.

Credit card cash advances have a steep interest rate charged on you each day until you settle the loan. Also, it is apart from the Cash Advance fee. Also, if you get a cash advance, it will be charged to your credit limit. Therefore, you will need to use your credit card with caution.

How to Avoid Low Interest Personal Loans Scams

Since personal loans are undeniably useful for Singaporeans, loan sharks have used them to milk unsuspecting people with every cent they have. Anyone can fall for the scammer’s sweet words, but you must be vigilant. If the moneylender tells you to make an advance fee before receiving your loan, walk away. It is prohibited for a moneylender to ask for any payment before the approved loan amount is released. A licensed moneylender will either deduct the processing fee from the loan amount or include it in the repayments.

They never ask for upfront fees. Check it the moneylender has a physical location. There are online licensed moneylenders. Processing the loans can start online. It can save your time as you can apply through their websites. However, they must also have an actual office where you can drop by. Having no real office is a clear sign that you are dealing with a loan shark. Do not forget to check the list of licensed moneylenders in Singapore.

The Ministry of Law strictly keeps checking on the compliance of the Moneylenders Act. Also, it keeps the industry fair and competitive aside from protecting both the borrower and the lender from abusive individuals. Another thing to consider is the years a moneylender has been in business. Indeed, a reputable moneylender thriving for decades has a long list of loyal clientele.

Cash Mart: Personal Loans Near Me

Take control of your finances with the low interest personal loans nearest you. Whether you want to pay off outstanding bills, go on a holiday trip, renovate your home, or consolidate your debts, Cash Mart indeed has the best personal loan. Just apply online anywhere you are in the city-state, anytime on the day. Whether you are a high wage earner or have a low regular salary, Cash Mart has personal loans flexible enough for each borrower.

It is further designed to fit money needs for various purposes or reasons. As a reputable licensed moneylender, Cash Mart will walk you through the whole process and give you options to help you find the loan that will fit your preferences. As a licensed moneylender, Cash Mart also believes in transparency. Feel free to inquire first about its loan products. Use the online calculator and navigate through terms to know which one is best for you. Get a loan from Cash Mart today to experience what the best low interest personal loans ought to be.

5 Best Marketing Strategies For Investment Firm

5 Best Marketing Strategies for Your Investment Firm

Do you want to improve your brand? Have you ever checked the efficiency and outcome of your investment management firm’s marketing strategies? Then, check out these few tips as it talks about the best marketing strategies for investment firms.

In this age of rampant digital marketing and cutthroat competition, it is essential to be ahead of the competition by using up the best strategies to gain the edge over your competitor firms.

It is pretty important to stay ahead to get to your prospective clients. So now, let us check out a few tips for the ultimate marketing strategies for investment firms you got to follow to improve your brand.

best marketing strategies

Credit: https://www.threegirlsmedia.com/2021/01/20/why-you-need-to-review-your-marketing-strategy-after-quarter-1-2/

Never leave to rebrand!

Take a look at the demographics of your clients. You wouldn’t be surprised to see that the age of your clients has come down. But, on the other hand, the youth have started getting more involved with investing.

As the demographics of your target audience have changed, it has become vital to rebrand your firm’s marketing strategies. And this will also help you get more outreach. Your strategies have to be agile and help you maintain your market position irrespective of the market condition.

Transparency for the best marketing strategies!

How transparent are you in the dealings?

You got to establish high levels of transparency and integrity in your transactions with your clients. So that they would trust you more and help you build goodwill. Therefore, you must make your site more user-friendly and very intuitive.

Give sufficient focus to digital marketing!

Digital space has started to dominate the world! If you haven’t paid sufficient effort to digitise, you got to do it. Restructuring your systems and focusing on improving your online position would help you boost your market position.

Make your content attractive!

You have to bring out something that captivates your customers to use your service. What is that extra edge you have over others? You have to find that and put them across to your customers in the best way.

Before you choose new strategies, you must deeply examine whether these strategies would help you grow and establish your brand. Since you deal with investment banking, you ought to do a lot of initiatives to build the credibility and reliability of your brand.

Power of strong messages!

It is something that would influence the success of your campaigns. How strong are your messages, and how well have they reached your clients? Are you doing it yourselves or outsourcing this to other firms?

The best thing you should understand is that, before you outsource marketing tasks to an outside firm, you must analyse the portfolio and their work. You might be the best financial consultant or expert, but how well that message is conveyed to people is the most crucial factor.

You must build a message that is congruent to the culture and policies of your firm and should help you in getting highly transformed.

It doesn’t mean that you must create hype for your messages and project yourself as one of the best firms, but it is also vital that you can deliver what you promise!

Not having an effective digital marketing strategy can make your business fall behind the competition. Don’t let your consumers slip away. If you lack marketing funds, you can quickly get a quick cash loan from Cash Mart – Singapore’s reputable licensed money lender. Cash Mart lets you acquire a flexible instant loan to grow your business and thrive in the coming years.

Chinese Zodiac Financial Guide for 2018

Chinese Zodiac Financial Guide for 2018

Welcome the Chinese New Year this 2018 with this Chinese Zodiac Financial Guide. Keep your hope and energy renewed for the entire year.

Your Chinese Zodiac financial guide energies are now dominated by the Earth elements in Yang form from February 16, 2018, to February 4, 2019. Find out what the Year of the Earth Dog has in store for your finances with Chinese Zodiac predictions. Furthermore, learn how to smoothen some bumps throughout the year.

Chinese Zodiac Financial Guide

Credit: https://www.asianmoneyguide.com/chinese-new-year-2018-horoscope

What is your Chinese Horoscope?

Dog Chinese Horoscope 2018

Finance:

Generally, your wealth luck is on average. Your finances can be smooth sailing. But, there will be no major ups or downs. However, be cautious with your investments. Major investments are too risky and could cause more than you can bargain for.

Career:

It is not recommended to change jobs this year. Instead, stay put and give your best one task at a time. Though your workplace proves to have a challenging environment, it pays to keep in low profile and not engage in company politics. However, if you really feel like quitting your current job, make sure you have already found a new one before tendering your resignation.

Pro Tips:

  • Avoid gambling or any other betting games.
  • Your lucky colours are greyish blue, ocean blue and light blue, which you can accent with accessories in light grey colour.
  • Do not make any drastic career change without a thorough financial plan.

Pig Chinese Horoscope 2018

Finance:

You have favourable luck in finances this year. However, be mindful of your spending. Avoid exposing your valuables and money so you will not attract fraudsters, thieves and burglars. Though you have good financial luck, it is still too risky to invest your money in one place. As the old adage says, do not put all your eggs in one basket.

Career:

Female Pigs have promising careers awaiting them this New Year, especially for those in regional roles for the company’s overseas offices. People working in advertising, artistic design, and literary creation will also have an extra boost of luck this year of the Dog. However, be on the lookout for changing schedules to avoid delayed tasks. Generally, Pigs with male bosses will have better lucks at work.

Pro Tips:

  • Your lucky colours are light red, pink, and burgundy.
  • Save up your extra earnings.
  • Do not hesitate to assist your coworkers, as they will also help you with some obstacles.

Rat Chinese Horoscope 2018

Finance:

With the blessings of the auspicious star ‘Tang Fu’, your income will come slowly and steadily but will not halt. Therefore, wisely choose your investments and keep rational. Some tips from your friends may seem tempting, but keep being objective. While your income is stable, you might not be as lucky with your investments.

You understand how your money works and does well with growing your finances. However, the more you earn, the more carefree you get.

Career:

You can show the higher authority that you have what it takes to climb on your career ladder. Of course, you impress people at your workplace, but you must not stress out with your perfectionism.

Pro Tips:

  • Include ornaments with your lucky colours, red, green and purple, at home. You can also wear clothes and accessories in these colours to increase your luck.
  • Learn to let go and breathe at times.

Ox Chinese Horoscope 2018

Finance:

In your Chinese Zodiac financial guide this year, it is the time for female-dominated industries to prosper. If you belong to such a company, your finances will likewise improve. However, you’ll manage to balance your finance and keep your impulses in check since you tend to indulge in wealth.

Career:

In 2018, you will challenge a co-worker or board member due to your chronic intolerance and inability to accept the fault of others. Also, you will be forced to travel across the city-state. Or probably out of the country to settle important yet annoying affairs. In addition, there is a possibility that you will question your company’s ethics and co-workers’ principles.

Pro Tips:

  • Pay attention to your relationships with your colleagues. Give them the benefit of the doubt, and you will get assistance from them.
  • Wear sky blue, green or black colours complemented with accessories in pearl white colours.
  • Keep a cup of water in your office.
  • If you have a business, be cautious and conservative. Work with a female for better luck.

Tiger Chinese Horoscope 2018

Finance:

The New Year will bring more luck since your financial downtime in 2015. Good thing the Tiger is an ally of the Dog. It means your luck has turned for the better regarding business and investments. However, while you have a huge leap of financial fortune, be careful when venturing into new investments, as they can turn into big losses.

Test the waters first before putting your money into a big investment decision. The same goes for expanding your current business.

Career:

Ditching your current work may not be a good idea this year. You may receive a new job offer, but your current one will still be better. Just make sure that you keep your temper in check. Though it might be rumours circulating against you in the office, it is better to deal with it calmly or else it will end up with a huge misunderstanding.

Pro Tips:

  • Avoid being anxious, or you are bound to make a financial mistake.
  • If you have a business, it is time to venture into the latest marketing channels.
  • Keep a modest attitude. Do more but talk less.
  • If you want to change your job, pay close attention to the contract details before signing.
  • Keep your lucky colours light brown, yellow-brown, orange, and yellow close by.
  • Your lucky accessories must be in accessories with purple and red.

Rabbit Chinese Horoscope 2018

Finance:

Rabbits in sales, property or insurance fields will receive the best of luck this Year of the Dog. Now is the time to commence the plans you have been holding back for a long time. Invest in something new. Try investing in gold, stocks, or mutual funds and other opportunities but always take time to study it first.

Career:

This year, you will reap the fruits of your hard work. Your superiors will recognise your effort and will possibly promote you. Aside from this, your leaders and colleagues will help you with your goals. Also, it is a good year to change your job, but make sure to sign the contract first before leaving your current job.

Pro Tips:

  • Keep in low profile to avoid burglary and theft despite your financial luck.
  • Avoid flings, especially in your workplace.
  • Do not skip meals despite a busy career because you are prone to illnesses.
  • You can build a good rapport with your superiors by minding work ethics.
  • Your lucky colours are light brown, earth tone and beige.
  • Make new acquaintances. New friendships can lead to profitable business deals.

Dragon Chinese Horoscope 2018

Finance:

Financial luck will not be at your side. It is best to secure your finances and play safe rather than lose your money. Be prudent and always follow your spending plan. Cut down expenditures and adopt the prudent capital preservation strategy for your investments.

Career:

Stay motivated at work despite the pressure and harsh environment. Despite the hardship you are encountering, you must not change your job. Instead, find strength and focus on it. Your hard work and integrity will eventually pay off. Also, even with the windfall, you will be able to find your lucky star from a friend, colleague or family member.

Pro Tips:

  • Keep a chunk of cash in the bank for an emergency.
  • Spend wisely and encourage your family to do the same to help you.
  • Save more because you are likely to encounter unexpected expenses.
  • Keep your opinions to yourself if you think it might cause a major misunderstanding at work.
  • Keep a cup of water in your room to increase your luck.

Snake Chinese Horoscope 2018

Finance:

Be mindful of the tips you are receiving from the business experts. What works for them does not necessarily work for you. There will be a handful of investment opportunities, so take your time to consider the best one for you. Do not be impulsive because you might lose your money. But, on the other hand, you will be able to recuperate financially and start again.

Career:

Your career will be smooth sailing this year. Expect a promotion or raise in your salary as your achievements have been finally noticed. But, on the other hand, suppose you are working part-time, hold on a little longer as you might get the chance to be offered the full-time position. This year is the best time to do it for those with full-time jobs planning to change careers.

Pro Tips:

  • Do not forget to donate to charity.
  • Your lucky colours are gold, off-white and dark.
  • A crystal or white object on the North Western side of your room or office will increase your luck.

Horse Chinese Horoscope 2018

Finance:

You have average luck on your side. However, your impulsive decisions will lead to financial losses. If you have emergency funds, it is best not to touch them as much as possible, as you will be prone to accidents. Avoid booze and women, as these can be your financial downfall. If you must spend, use your money for value-preserving valuables.

Career:

If you are employed, you must strive for more achievements. Do not be too comfortable with what you have right now. Keep moving, learn new skills or study a short course to get the chance for a raise. However, always keep a low profile because you can easily attract gossip.

Setbacks and problems may cause a heavy blow to your career due to office politics, leading to betrayals.

Pro Tips:

  • Your lucky colours are off-white, bright grey and gold.
  • Keep a crystal object on the northwestern side of your room or office.
  • Practice open communication to avoid getting misunderstood.

Goat Chinese Horoscope 2018

Finance:

Your year is showered with wealth luck. You will get significant investment returns as your primary source of income will also increase. Despite this, keep your lifestyle simple. Be conservative and control your spending, especially on gadgets, to avoid theft and burglary. Avoid borrowing from people you know. The attachment in the relationship may lead to financial downfall.

Career:

Your career will be bright this year. Get promoted or a raise since you have put a lot of effort in the past. However, be cautious about who you trust in your workplace. Gossips will be plenty, but you can take control if you stay calm.

If you are considering leaving your hometown, now is the best opportunity. If you own a business, expand to farther locations to give your company more growth.

Pro Tips:

  • Your lucky colours are bright blue-grey, navy blue and dark brown.
  • The best accessories are in lily-white.
  • Place a cup of water in your office.

Monkey Chinese Horoscope 2018

Finance:

Despite the gloomy year, a positive attitude can bring you some luck. Save and spend within your means. And while your luck is limited, frequent business trips may mean that you can earn more while away. External markets can also bring better finances but avoid investing beyond what you can afford to lose.

Career:

If you have a full-time job, looking for a part-time one will ease your financial burdens. However, be careful with your words as you might unknowingly hurt a coworker who will stab your back.

Pro Tips:

  • Avoid gambling. Look for less risky and expensive entertainment.
  • Your lucky colours are apple green, dark green and dark blue.
  • To increase your luck, keep a plant in your office.

Rooster Chinese Horoscope 2018

Finance:

You got financial luck in 2018 is average. There will be unforeseen expenses, and you need to save every extra cash. While you have a stable flow of income, a simple sudden financial need puts your finances in bad shape. It is best if you stay away from gambling and lottery.

Career:

Expect disputes in your workplace. Nevertheless, keep calm and control your temper to resolve the problem without sacrificing any relationship. Focus on the task at hand rather than getting affected by the people around you. If you plan to venture into a new business, this year will not be favourable.

Pro Tips:

  • Increase your luck with your lucky colours: emerald, yellow-green and green.
  • Keep a fortune plant in your office.
  • Compliment your style with accessories in dark coffee and brown colours.
  • Try to balance your career and social life to avoid getting stressed.

Every year people get excited to check their Chinese Zodiac financial guide signs hoping for good luck. We also look for ways to counter bad lucks with lucky colours and items such as fortune plants and crystals. Furthermore, the Chinese Zodiac financial guide serves you to handle your finances, but your overall luck will remain with your attitude when challenges come.

Is DBS Home Loan the Best Deal For Your First Home?

Is DBS Home Loan the Best Deal For Your First Home?

Do you want to know if DBS Home Loan is the best for your first house? Then, read and understand as we tackle the details about it.

Looking for your first home gives you a sense of adulthood. But, choosing the right home loan gives you the sense of being financially responsible.

There are two ways that a home loan can affect your life. For one, you will use it to get your home finally. It is one of the most important achievements in your adulthood. Also, a home loan can bring a critical blow to your finances. Being careless in choosing the right one results in this. 

Banks can see how we rave to get our homes as soon as possible. So now, they offer many options, including DBS home loans.

DBS has four housing loan products for various purposes. Can a DBS home loan give the best deal for your first home?

DBS Home Loan

Credit: https://www.dbs.com.sg/personal/loans/homeloans/manage-mortgage

DBS Home Loan Eligibility

DBS offers home loans to Singaporeans and Permanent Residents. It is available for legal age but not older than 65 years old upon the loan’s maturity. Also, the loan is not only for first-time homeowners only.

Borrowers may be HDB owners with existing home loans from other banks/financial institutions or Housing Development Board. In addition, it is for owners of new HDB homes with finished flats to apply.

DBS Home Loan Documents Required

Just like the other banks, DBS is strict with the required paperwork. It may be tedious, but this gives the bank the ability to know your creditworthiness.

You will need to present a photocopy of your NRIC (front and bank) and your computerised payslips for the past three months for employed borrowers. Also, you may need your Notice of assessment and your CPF statements for the past three months.

If you are self-employed, you will need to present a clear photocopy of your NRIC and the last two years’ Notice of assessment. In addition, you may present your last 15 months’ CPF statement. It proves that your business is indeed thriving.

In case you are a foreigner, you’ll need your passport, valid Employment Pass, and your computerised salary slips for the past 3 months.

DBS Private Property Home Loan

Take note that there are three types of interest rates in DBS Private Property Home Loan.

The Floating Rate Package (FHR9) pertains to the prevailing 9 month Singapore dollar fixed deposit interest rate. It is for amounts from $1,000 to $9,999.

On the other hand, the Fixed Rate Package is a fixed rate for a number of years. However, after a certain period, the interest rate will increase by 1.55% p.a.

So how does it work?

DBS Home Loan Private Property Checklist for Resale Properties

  1. Find a home you want to buy. Contact a DBS Home Advice Specialist and check your loan eligibility. Then, pay the Option Fee with the seller. It could be 1% of the purchase price. Or it could be up to $1000 in cash. Secure an Option to Purchase (OTP).
  2. Then, apply for a loan. Receive Loans Factsheet accompanied with instructions via email. Also, choose your ideal home loan package first. Afterwards, send the required documents to your DBS Home Advice Specialist or Relationship Manager.
  3. Accept the approved loan. In addition, sign the Letter of Offer and other related documents.
  4. After getting your loan approved, you finally need to meet with the bank’s lawyer to sign the OTP. Then, pay the relevant Stamp Duty in cash. Also, settle the remaining 15% down payment which the DBS Home Loan does not cover.
  5. Sign the mortgage documents at a lawyer’s office. If there is any remaining balance for the downpayment, this is the time to settle it. Also, you may use your CPF savings if applicable. However, take note that you will have to pay the legal fees.
  6. Collect the keys from the seller. Plus, receive a bank letter on loan disbursement and monthly instalment amount.
  7. Finally, you can now move in. Ensure that you diligently pay your monthly instalments. This way, you prevent any financial problems.

Refinancing Private Property

There are times when you might realise that you have bitten more than you can chew. Or simply can’t handle your current home loan in another financial institution.

DBS home loan offers to refinance private properties. First, you must check that the home loan’s lock-in period has already expired. This way, you can apply for refinancing. Furthermore, DBS will take the time and review your needs and current financial status before recommending a loan.

A Home Loan Specialist will help with your loan approval. Plus, a DBS lawyer will start the process. Take note that you might be required to pay the legal fees involved. In addition, if your refinancing home loan gets approved, you need to repay the monthly instalments diligently.

Buying HDB Flat

You can use a DBS home loan to buy HDB Resale Flats and BTO (Build-To-Order) Flats. It means that you can acquire it with this type of loan, whether the flat is preowned or not. While this loan boasts a lower interest rate than the HDB Concessionary Loan, it only covers up to 80% of the property’s market value. HDB Concessionary Loan covers 90% of the property value.

Furthermore, HDB Concessionary Loan does not require any cash downpayment. Therefore, it is different from DBS, which requires at least 5% cash payment and 15% CPF.

DBS Renovation Loan

Renovation loan has specific purposes. It is strictly only for the home’s renovations. Examples include structural alterations, flooring and tiling, painting and redecorating, basic bathroom fittings, and electrical and wiring works.

The maximum amount you can borrow is $30,000. But it is payable for up to five years. The applicant must be the property owner or the immediate family member

Take note:

  • The Handling Fee is 1% of the approved loan amount
  • Insurance Premium is 1% of the approved loan amount.
  • There is a cancellation fee of 1% of the approved amount should you change your mind.
  • Pre-payment fee is 1% of the outstanding loan amount.

As a first time home buyer, you must realise that there is more to consider. It’s not just about the interest rate on home loans. Also, you need to read the terms and conditions and the fees and charges.

If you need urgent funds for your home, take out a loan from licensed moneylenders in Singapore. Cash Mart approves a personal loan for whichever reason you need it. 

5 Valuable Facts to Know Before Getting an HSBC Home Loan

5 Valuable Facts to Know Before Getting an HSBC Home Loan

Are you finally decided to apply for HSBC Home Loan? It’s best to know the top valuable facts before proceeding with your application.

With investments, they say never to put your money on things you don’t understand.

The same goes with the home loan and purchasing your first flat. Buying a house is not simple. No matter how the agents or banks make it sound, there will be a long process. Also, months of waiting and a couple of decisions are inevitable. If you feel that an HSBC home loan is your best choice, read on.

HSBC Home Loan in Singapore

HSBC Home Loan Features

HSBC is a loan that helps you purchase private residential properties, HBD flats and commercial flats in Singapore. If you already have a house loan but have some financial difficulty, you can also use this loan for refinancing.

With HSBC, you can also choose between lock-in and no lock-in packages. Lock-in packages give you lower interest rates for one to three years. Are you not sure if you will stay on the property for more than a couple of years? Then, you can choose the no lock-in. It means that you can sell the property after some time. Plus, it has no incurring penalty.

Also, you can choose among three interest rate packages. The SIBOR-pegged interest rates are on the Singapore Interbank Offered Rate. After some time, it will adjust the interest rate. Therefore, it can go higher or lower as it is unpredictable.

With Fixed interest rates, you can have the same interest rate for the first years of your home loan. It gives you the freedom to create a budget way ahead. SmartMortgage helps you save up. So your home loan will be linked to your current account. Plus, this optionallowss you pay less.

HSBC Home Loan Requirements

If you are a foreigner, you must present your passport and E-pass.

With Singaporeans and Permanent Residents, you have to provide your CPF contribution history, especially if you want to use it for your home financing. Also, you have to secure an Option to Purchase (OTP) or Sale and Purchase Agreement (SPA). It is a must-have if you are making a new purchase.

Those who want to refinance an existing home loan have to provide a loan account statement for the previous 12 months.

Moreover, you will get a maximum loan amount of up to 80% of the property’s purchase price. The 5% has to be paid upfront. Meanwhile, the rest of the downpayment will be paid by CPF.

5 Valuable Facts You Need to Know about HSBC Home Loan

Freehold Property vs Leasehold Property

Freehold property is essentially a “property free from hold” of anybody else aside from the owner. Ownership is absolute, but you can transfer it through a sale deed.

A leasehold property is ownership of the property for a specified time. It can be as short as 40 years or as long as 99 years.

Nevertheless, decide which property you want. Or base it on which one you can afford.

Complete the sale and purchase

The length of time varies on the property you want to buy. For example, if you purchase a private property, you have to complete the standard sale and purchase within 12 weeks upon the date on OTP.

Meanwhile, HBD properties have a shorter process. It usually takes 6 to 8 weeks to complete your Completion Appointment.

When to start looking for a home loan?

Should you look for a home first? Or find a loan before hunting for a flat?

Before you commit to purchasing any property, it is better to first get a bank’s approval in principle. It is due to the OTP’s two weeks validity period. If you fail to exercise the OTP in 14 days, you will forfeit your option fee.

The amount of downpayment to prepare

Is this the first time you are purchasing an HBD property? First, you must be prepared to borrow up to 80% of the property’s purchase price or valuation. But before you can even have a loan approved, you need to pay an option fee of 1% of the property’s purchase price. Then, pay a further 5 to 10% to exercise the options.

As for the downpayment, it is 20%. But you have the option to pay the 5% of the property’s valuation and have the CPF pay the 15% in cash or funds.

If you have an existing loan in another property, you have to borrow 50% of the property’s valuation or purchase price. With the 50% downpayment, you have to pay the 25% in cash and have the CPF pay the other 25%.

What should you do with the difference between the purchase price and the market value?

Pay the difference between the purchase price and the market value in cash. It may make your payment upfront higher than you have expected.

Buying a home is a major decision. It will generally affect your lifestyle. While you are confident that a loan will significantly help, you must remember that a huge chunk of cash will leave your savings. Therefore, take some time to research and shop for other home loans. Figure out which can best fit your needs and wants. Aside from the facts mentioned above, there are also various factors to consider.

Are you just looking for a loan to have some minor repairs in your house? Then, you can just take out a personal loan from Cash Mart. Then, get the cash in as fast as 30 minutes.

Standard Chartered Home Loan in Singapore

Valuable Facts on Standard Chartered Home Loan in Singapore

Everyone deserves to have a home. That’s why they opt for a Standard Chartered Home Loan. Learn more facts about it.

Nothing beats the sense of security and peace of mind it brings. However, with the cost of living hiking up every year, buying a property seems unaffordable to most of us.

Banks and other financial institutions started to recreate their home loans and made them competitive. Is this your first time buying a home? Then, you will most definitely need a home loan unless you were born with a silver spoon in your mouth.

Standard Chartered Home Loan Singapore

Standard Chartered offers a couple of home loans in Singapore. The bank is part of a British international banking group. Also, it serves financial services across Asia, Africa, the UK, the United States and the Middle East. However, it does not offer the same home loan products in other countries. In fact, it does not even have a home loan in certain countries.

Though Standard Chartered has various loans, you need to consider multiple facts. So it’s best if you know if one of them fits your needs.

Standard Chartered HDB Home Suite

Standard Chartered HBD Home Loan is applicable on either the completed or under construction properties. Even if the HBD flat is still under construction, you can already apply for a Standard Chartered Home Loan. It finances your chosen unit. Also, you can borrow up to 80% of the property’s market value.

This Standard Chartered HBD Home Loan has SIBOR-pegged interest rates. It means that the interest rate of this home loan is variable. Plus, it follows the rates of SIBOR. SIBOR means Singapore Interbank Offered Rate. As the name suggests, Standard Chartered uses the same rate that the Singapore banks use. Therefore, they lend unsecured funds to each other.

Important Notes

The minimum loan amount you can apply for is $100,000. If you just need to borrow a lesser amount, you do not have to apply for this home loan. Instead, you have to shop around for other loan providers. Look for those who offer a more fitting loan.

Standard Chartered Home Suite

Standard Chartered Home Suite has two options for you. First, you can get a home loan with Fixed Deposit Rate linked pricing. Or apply for the MortgageOne SIBOR. As discussed above, the variable interest rate depends on SIBOR.

Important Notes

This Standard Chartered home loan offers to buyers of both completed and building under-construction properties. Also, you will get a Standard Chartered Platinum Credit Card. Plus, its exclusive benefits. Take note that you must seriously consider having a new credit card and a new housing loan. Nevertheless, think if you can handle your repayments well.

Though the bank offers Deposit Insurance Scheme, Foreign currency deposits are not. Final approval of the home loan is subject to receipt and validation of all required documents.

Standard Chartered MortgageOne SIBOR

Standard Chartered MortgageOne Sibor is a promotional offer. It aids in financing your home. But how does this work?

Standard Chartered Home Loan - MortgageOne

Let’s say you took out a loan of $1,000,000 with an interest rate of 1%. Then, your loan payment interest is $10,000. However, under MortgageOne Sibor, you deposited $600,000. Therefore, your interest loan payment will be lesser.

Deposited amount: $600,000

  • 2/3 of your deposit will earn 1% of interest: the 2/3 of $600,000 is $400,000.
  • $400,000 x 1% = $4,000
  • 1/3 of you deposit will earn 0.25% base interest: the 1/3 of S$600,000 is $200,000.
  • $200,000 x 0.255 = $500
  • Total earned deposit is $4,000 + $500 = $4,500
  • Your loan payment interest $10,000 – Total earned deposit $4,500 = $5,500.

Your net loan interest payable is $5,500.

Important Notes

Remember that the minimum loan size for this loan product is $100,000. If you need less than this amount, it is better just to find an alternative. It’s highly sensible rather than borrow the amount you don’t need.

Also, you must note that this promo is only for completed private residential property. If you are purchasing an HDB Home or a home under construction, you need to find another mortgage option.

Standard Chartered HDB Bridging Loan

Looking forward to buying another home, yet you lack the cash for a downpayment? This Standard Chartered home loan can help you out if you have an existing property.

Standard Chartered will fund your new home loan’s down payment. It applies if you sell your property to buy a new one.

In addition, it does not mean that the bank is buying your existing property. Instead, it is just giving you funds against its value as a mortgage.

Important Notes

The offer is only for Singapore Citizens and Permanent Residents. In addition, the maximum loan tenure is only six months.

First-time buyers and contra-transaction will not be qualified. Why? It requires you to have an existing property. If it is a joint property, all borrowers must agree with this loan solution.

Conclusion on Standard Chartered Home Loan Singapore

If you plan to buy a home, you must consider the financing option, whether it is your first or nth time.

Moreover, take your time to shop around for the best housing loan. If you lack the funds for your down payment and can’t pass up the opportunity, you can get the bridging loan. However, it is very limited.

Fortunately, you can get a loan from Cash Mart for your home needs. Give cash Mart a call to know more about its loan solutions today.