|Minimum Loan Amount||S$200,000|
|Loan Tenure||5 years - 30 years|
|Charge of Insurer for fire insurance||S$200|
|Title deed for fully repaid loans||S$500|
|Late payment charges||Prime lending rate + 5%|
|Citizenship Status||Singaporean, Permanent Residents, Foreigners who are residing and working in Singapore, Malaysians that are looking to invest in properties in Singapore.|
Bank of China is the oldest bank in China still in service today. It is the 5th largest bank in the world by market capitalization value. Locally, it holds over 70 years of experience serving the Singapore community.
While it does have a personal banking segment, its core business remains to be in the corporate banking sector, providing expertise and specialising in China-related trade financing and settlements, and remittance services.
The mortgage loans from Bank of China are applicable to private properties as well as to HDB and Executive Condominiums. The packages are based either on the 3 month SIBOR or on the 3 month SOR rate and a special characteristic of their variable rate packages is that they offer the flexibility to switch between SOR and SIBOR rates without any charges to the home owner.