|Repayment for your home loan can be made via:
Cash from your loan servicing account
Please ensure there are sufficient funds in your indicated account.
CPF funds with your instruction to CPF Board
You will need to complete the relevant CPF forms (HBL forms for HDB or Form 4B for Private Property) and send to CPF Board directly for approval.
Alternatively for private properties, instructions to CPF Board can be sent online via www.cpf.gov.sg using your Singpass.
These are repayments, comprising of Principal and Interest, which are made every month towards your loan.
The balance of the monthly instalment after repaying the interest accrued on the loan goes towards the principal payment of your outstanding loan.
Monthly instalment due dates are typically fixed on the 1st of each month for private property loans and the 15th of each month for HDB loans.
Your instalments are due after the first drawdown of your loan as follows:
If you intend to use CPF funds for your first instalment, you will need to inform your lawyer to set up the CPF remittance arrangement for your home loan.
This is also known as a capital repayment which you repay a portion of the outstanding loan. Each minimum partial repayment is S$10,000 and in multiples of S$1,000.
One month's written notice is required for partial repayment and you should refer to your Letter of Offer and the Terms and Conditions for any early repayment fees.
You can serve the partial repayment notice by mailing the completed Partial Repayment form to us.
Three months' written notice is required for full repayment and you should refer to your Letter of Offer and the Terms and Conditions for any early repayment fees.
You can appoint a law firm to handle the discharge of the mortgage or you can serve the notice of redemption yourself by completing the Full Repayment form and mail it back to us.
Upon full repayment of your loan, a law firm is required for the discharge of your mortgage before the title deeds along with other security documents are returned to you.
There will be a safekeeping fee if you do not discharge your mortgage after the loan is fully repaid.
Whether you are selling your property, refinancing or simply settling the loan, find out more on the available options for your full repayment below.