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Home loans below 1%
Maybank S’pore ups the ante in residential mortgage market
Ephraim Seow
ephraimseow@mediacorp.com.sg
SINGAPORE
Its fixed rate packages, with either a three or five-year fixed term, offer the lowest rate in town at 0.88 per cent a year in the first year.
For its home loans pegged to interbank lending rates, Maybank is offering a rate starting at 0.5 percentage point above the three-month Sibor for the first year.
Sibor, which stands for Singapore Interbank Offered Rate, is the rate at which Singapore banks lend to each other. It currently stands at 0.55 per cent.
Meanwhile, for its variable rate home loans package, Maybank is offering interest rates that will start at 0.80 per cent a year. This is 2.95 percentage points lower than the Singapore Residential Financing Rate (SRFR) for the first year.
SRFR is Maybank’s board rate, which has been at 3.75 per cent since 2007.
In another variable rate package, the bank is offering a $5,000 cashback and an interest rate of 1.3 per cent a year for the first year.
Maybank Singapore’s Head of Consumer Banking, Ms Helen Neo, said the fixed rate packages are very popular because they give borrowers certainty in financing their mortgages.
The new packages are in celebration of Maybank’s 50th anniversary. As part of the ongoing celebration, it has also launched a Privilege Plus Savings Account, a savings product for those aged 50 years and above.
— Maybank Singapore has raised the bar in the home loans market with a slew of offerings that include mortgage rates below 1 per cent.Frisday: 27 AUGUST 2010 CLOSING
15,715,100
RM8.260 +RM0.040
Day Hi RM8.310
Day Lo RM8.210
CIMB:
¨ Tracking expectations.
¨ Fair value is RM8.40 Maintain Outperform.
RM9.88
|
Thursday: 26 AUGUST 2010 CLOSING
19,038,200
RM8.220 +RM0.090
Day Hi RM8.250
Day Lo RM8.130
SUPPORT DEPTH
RM8.20 800.5K [505.3K B f S]
RM8.21 2,043.6K [1,134.5K B f S]
RM8.22 3,921.1K [1,436.8K B f S]
RM8.23 6,128.7K [3,029.3K B f S]
RM8.24 5,586.8K [4,694.4K B f S]
TOTAL
19,038,000
[11,241,500 B f S]
[basIcally to prevent lOan faIlUres by UNprOfItable and UNsUstaInable nOn-prOdUctIve bOrrOwers]
pOtentIal dOwnsIde fOr SINGAPORE BANKS
*$*$*$*$*$*$*$*
wIth IncreasIng Bank depOsIt Interest rates
[prOdUctIve bOrrOwers at hIgh Interest rates are TRULY prOfitable and sUstaInable bOrrOwers]
mOre UPsIde fOr MALAYSIAN BANKS
Non-resident individual (Withholding tax at 10%)
Resident institutional investors (Withholding tax at 10%)
Non-resident institutional investors (Withholding tax at 10%)
Resident companies (No withholding tax.
Non-resident companies (Withholding tax at 25% for year of assessment 2010)
Affin:
¨ Loan growth momentum appears sustainable.
¨ Fair value of RM4.10 and Outperform call maintained.
Monday: 23 AUGUST 2010 CLOSING
15,083,700
RM8.140 +RM0,010
Day Hi RM8.400
Day Lo RM8.140
SUPPORT DEPTH
RM8.15 524.5K B f S
RM8.16 614.5K B f S
RM8.24 510.4K B f S
RM8.25 1,084.7K B f S
RM8.30 505.4K B f S
RM8.32 1,132.3K B f S
TOTAL 6,440,200 B f S
pharoah88 ( Date: 23-Aug-2010 18:47) Posted:
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Volume
Volume
Volume
Maybank:
¨ Dishing out dividends.
¨ We raised our fair value to RM9.86.
Maintain Outperform.