Maybank home loan interest rates
Maybank, or Malayan Banking Berhad is the largest bank in Malaysia, with major banking operations in the key Asean regions of Singapore, Indonesia and the Philippines. The bank has also devoted significant resources in Islamic banking through Maybank Islamic Berhad. Maybank is the largest bank in Malaysia with 384 domestic branches and 190 international branches and offices. They started their operations in Singapore in 1960 as a Qualifying Full Bank (QFB) in Singapore, boosting 22 branches islandwide and 35 atms around Singapore. As of end of 2011, Maybank’s total assets in Singapore were S$32.6 billion. Some of the awards the bank has received include being the first and only Bank to receive triple certification for Singapore Quality Class, Singapore Service Class and People Developer from SPRING Singapore in 2009. In 2011, Maybank took over financial service provider Kim Eng and expanded its portfolio of banking services to include services in corporate finance, debt markets, equity capital markets, derivatives, retail and institutional securities broking and research consisting of Top 5 SGX Securities Broker (ASEAN Category), Top 50 Singapore Brands – Brand Finance- 2008-2012, Best Mobile Phone Platform – Investment Trends, Singapore Broking Report- 2011, 2012 and Best Retail Broker Award (Merit Award)- SIAS Investors’ Choice Awards- 2011, 2012.
As with other banks, Maybank provides residential home loans of both the fixed and floating rate variants, with a consistent board rate provided. This board rate is known as Singapore Residential Financing Rate (SRFR), which is currently 3.75% yearly. The bank will also provide a 30 days’ notice if revision is done to the SRPR.
For floating rate home loan packages, home owners can choose either the 3-month SIBOR-pegged packages or the Variable Rate packages which tracks Maybank’s home loan board rate. The bank also provides a bridging loan for property financing. There are also exclusive privileges for Maybank Home Loan customers where one can enjoy an interest free Renovation Loan for the first year subjected to terms and conditions.
As a bank listed in Malaysia, we can also expect Maybank to provide Malaysian residential property loan, from the comfort of Singapore! One major advantage of the loans on Malaysian residential property is that home owners may benefit from favourable exchange rate movements with a loan denominated in Singapore Dollars. Moreover, the interest rates are pegged to the 3-month Sibor rates which increase transparency. One can also look to get financing of up to 70% of purchase price or market valuation, whichever is lower.
As leading Singapore mortgage brokers, let us get you the lowest mortgage packages for: