Si jie LIM
Where can you find the Best Maybank home loan? For people who prefers to pick a maybank mortgage, they will obviously want to know what is the best maybank home loan packages in the market place. Signing a home loan package is a big decision. It is no wonder every homeowner spends a lot of time doing research before deciding whether to take up a home loan package. After all, every homeowner wants to get the best home loan deal. If you are contemplating whether to take up a loan from Maybank, here are some things we think you need to know (based on historical trends). You can also click here to find out what are the best home loans in Singapore.
Image Credits: Maybank Branch office at Jalan Sultan, Paul Ho, iCompareLoan.com
1. Maybank’s Loan Portfolio Focus decides the best maybank home loan
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Among the banks in Singapore, Maybank has one of the largest fixed interest rate home loan portfolios. Among its loan books of home loans, most of Maybank’s loans have a fixed rate component with a lock-in period between 1 to 3 years. Maybank offers a variety of fixed interest rate home loans to meet the needs of different homeowners. In particular, if you are one of those who prefer fixed rate home loan for its stability, you might want to check out the loans that Maybank offers.
2. Maybank Fixed Rate Home Loan Has Been Declining
Since 2015, Maybank’s fixed rate loan interest rate has been falling. Maybank’s fixed rate loan interest rate peaked in 2015 and has been declining ever since. However, there are signs of rising interest rate loans lately due to the overall rise in interest rate environment. Hence it is important to understand that during a period that rates are dropping, the best maybank home loan may be a Sibor rate as it goes down with the drop in Sibor and Sor rates while you could similarly argue that the Best Maybank Home loan rate is a fixed rate package, while it may be the best fixed rate package in the market place, during a time when rates are dropping, those that are fixed rate mortgage packages are locked into more expensive mortgages while the prevailing Sibor drops.
| Date | Maybank Bank Loan Packages | 1st Year Interest Rate (%) | 2nd Year Interest Rate (%) | 3rd Year Interest Rate (%) | 4th Year Interest Rate (%) | 5th Year Interest Rate (%) | Interest Rate Thereafter (%) |
| 6-Jan-15 | Maybank 3 Years Fixed Rate (HDB & Private Properties) | 1.25 | 1.45 | 1.55 | 2.5 | 2.5 | 2.5 |
| 6-Jan-15 | Maybank 3 Years Fixed Rate (Private Properties) | 1.25 | 1.4 | 1.5 | 2.5 | 2.5 | 2.5 |
| 21-Jan-15 | Maybank 3 Years Fixed Rate (HDB & Private Properties) | 1.65 | 1.75 | 1.85 | 2.5 | 2.5 | 2.5 |
| 21-Jan-15 | Maybank 2 Years Fixed Rate (HDB & Private Properties) | 1.5 | 1.55 | 2.5 | 2.5 | 2.5 | 2.5 |
| 5-Mar-15 | Maybank 3 Years Fixed Rate (HDB & Private Properties) | 1.95 | 1.95 | 1.95 | 2.5 | 2.5 | 2.5 |
| 30-Apr-15 | Maybank 3 Years Fixed Rate (HDB & Private Properties) | 1.98 | 2.38 | 2.68 | 2.65 | 2.65 | 2.65 |
| 25-May-15 | Maybank 3 Years Fixed Rate (HDB & Private Properties) | 1.98 | 2.38 | 2.68 | 2.65 | 2.65 | 2.65 |
| 22-Jul-15 | Maybank 2 Years Fixed Rate (HDB & Private Properties) | 1.78 | 1.98 | 2.65 | 2.65 | 2.65 | 2.65 |
| 14-Aug-15 | Maybank 3 Years Fixed Rate (HDB & Private Properties) | 1.98 | 2.38 | 2.68 | 2.65 | 2.65 | 2.65 |
| 27-Aug-15 | Maybank 2 Years Fixed Rate (HDB & Private Properties) | 1.98 | 2.18 | 2.65 | 2.65 | 2.65 | 2.65 |
| 23-Sep-15 | Maybank 2 Years Fixed Rate (HDB & Private Properties) | 1.98 | 1.98 | 2.65 | 2.65 | 2.65 | 2.65 |
| 23-Sep-15 | Maybank 2 Years Fixed Rate (HDB & Private Properties) | 2.05 | 2.25 | 2.98 | 2.98 | 2.98 | 2.98 |
| 30-Jan-16 | Maybank 2 Years Fixed Rate With 2 Years Lock-in For Completed Properties | 2.18 | 2.28 | 2.98 | 2.98 | 2.98 | 2.98 |
| 31-Mar-16 | Maybank 2 Years Fixed Rate With 2 Years Lock-in For Completed Properties | 1.99 | 1.99 | 2.28 | 2.98 | 2.98 | 2.98 |
| 2-Jun-16 | Maybank 2 Years Fixed Rate With 2 Years Lock-in For Completed Properties | 1.68 | 1.68 | 2.4 | 2.99 | 2.99 | 2.99 |
| 6-Aug-16 | Maybank 1 Year Fixed Rate Wuth 1 Yr Lock-in For Completed Properties | 1.8 | 2.05 | 2.25 | 2.25 | 2.25 | 2.25 |
| 31-Aug-16 | Maybank 2 Years Fixed Rate With 2 Years Lock-in For Completed Properties | 1.68 | 1.68 | 1.88 | 1.88 | 1.88 | 1.88 |
| 1-Sep-16 | Maybank 2 Years Fixed Rate With 2 Years Lock-in For Completed Properties | 1.6 | 1.6 | 1.88 | 1.88 | 1.88 | 1.88 |
| 24-Jan-17 | Maybank 1 Year Fixed Rate – Year 2,3, Pegged to Fixed deposit | 1.59 | 0 | 0.39 | 0.79 | 0.79 | 0.79 |
| 6-Mar-17 | Maybank 2 Years Fixed Rate – Year 3 Onwards Board Rate | 1.68 | 1.88 | 1.88 | 1.88 | 1.88 | 1.88 |
| 8-Apr-17 | Maybank 2 Years Fixed Rate – Year 3 Onwards Board Rate | 1.65 | 1.65 | 1.88 | 1.88 | 1.88 | 1.88 |
| 29-Jun-17 | Maybank 1 Year Fixed Rate – Year 2,3, Pegged to Fixed deposit | 1.5 | 0 | 0.35 | 0.79 | 0.79 | 0.79 |
| 26-Dec-17 | Maybank 2 Years Lock-In Fixed Rate – Year 3 onwards, Pegged to Board Rate | 1.62 | 1.68 | 1.85 | 1.85 | 1.85 | 1.85 |
| 7-Jan-18 | Maybank 2 Years Lock-In Fixed Rate – Year 3 onwards, Pegged to Board Rate | 1.7 | 1.75 | 1.85 | 1.85 | 1.85 | 1.85 |
Table 1: Best Maybank home loan for Fixed Rates – Historical Record, Copyright iCompareLoan.com
You can take a look at how the Best Maybank Home loans for Fixed Rates stack up in the past as here are records we painstakingly collected over the years. See above.
Below at Table 2, that is the best maybank home loan for Floating – variable rate mortgages. All Sibor and Board Rate packages are considered variable rates as they can change anytime based on the reference or at the bank’s discretion.
| Date | Maybank Bank Loan Packages | 1st Year Interest Rate (%) | 2nd Year Interest Rate (%) | 3rd Year Interest Rate (%) | 4th Year Interest Rate (%) | 5th Year Interest Rate (%) | Interest Rate Thereafter (%) |
| 21-Jan-15 | Maybank SIBOR Package – 1 Year Lock-In For HDB/Completed Properties | 1.98 | 2.08 | 2.38 | 2.38 | 2.38 | 2.38 |
| 26-Jan-15 | Maybank SIBOR Package – No Lock-In For HDB/Completed Properties | 1.93 | 1.93 | 1.93 | 2.13 | 2.38 | 2.38 |
| 26-Jan-15 | Maybank 3M SIBOR Package For Building Under Concstruction | 1.93 | 2.08 | 2.13 | 2.38 | 2.38 | 2.38 |
| 26-Jan-15 | Maybank SIBOR Package – 2 Year Lock-In For HDB/Completed Properties | 1.88 | 2.03 | 2.38 | 2.38 | 2.38 | 2.38 |
| 26-Jan-15 | Maybank SIBOR Package – 2 Year Lock-In For HDB/Completed Properties | 2.03 | 2.13 | 2.13 | 2.38 | 2.38 | 2.38 |
| 13-Mar-15 | Maybank Board Rate Package – 3 Year Lock-In For HDB/Private Properties | 1.28 | 1.48 | 1.68 | 2.65 | 2.65 | 2.65 |
| 7-May-15 | Maybank SIBOR Package – 3 Year Lock-In For HDB/Completed Private Properties | 1.88 | 1.88 | 1.88 | 2.38 | 2.38 | 2.38 |
| 22-Sep-15 | Maybank 3M SIBOR Package For Building Under Concstruction | 2.03 | 2.03 | 2.03 | 2.13 | 2.38 | 2.38 |
| 1-Mar-16 | Maybank Board Rate Package – 2 Year Lock-In For Completed Properties | 1.55 | 1.75 | 2.58 | 2.98 | 2.98 | 2.98 |
| 31-Mar-16 | Maybank Board Rate Package – 2 Year Lock-In For Completed Properties | 1.55 | 1.75 | 1.95 | 2.98 | 2.98 | 2.98 |
| 31-Aug-16 | Maybank SIBOR Package – 3 Year Lock-In For Completed Properties | 2.03 | 2.03 | 2.03 | 2.88 | 2.88 | 2.88 |
| 31-Aug-16 | Maybank Board Rate Package – 2 Year Lock-In For New Properties Or Refinance | 1.25 | 1.25 | 1.25 | 1.80 | 1.80 | 1.80 |
| 31-Aug-16 | Maybank Board Rate Package – 2 Year Lock-In | 1.48 | 1.68 | 1.98 | 2.98 | 2.98 | 2.98 |
| 23-Nov-16 | Maybank Board Rate Package – 2 Year Lock-In For Completed Properties | 1.38 | 1.48 | 1.58 | 1.80 | 1.80 | 1.80 |
| 29-Jun-17 | Maybank SIBOR Package – 3 Year Lock-In | 2.03 | 2.03 | 2.03 | 2.88 | 2.88 | 2.88 |
| 7-Jan-18 | Maybank SIBOR Package – No Lock-In For Completed Properties | 1.62 | 1.65 | 1.68 | 1.80 | 1.80 | 1.80 |
Table 2: Best maybank home loan for Sibor and Board Rate packages – Historical trend, copyright iCompareLoan.com
3. Fixed Rate Home Loan Can Reduce Impact Of Rising Interest Rates
When you believe that Interest rates are rising, then the best maybank home loan could be one that comes with Fixed Rates. With interest rate now back on an uptrend, Singaporean home owners have started to develop headaches about the impact of interest rate on home loans, especially if you are on a floating rate home loan. This is another key reason why we think that home owners should consider fixed rate home loans.
Fixed rate home loans like the one Maybank offers provide home owners with stability regardless of the market condition. This means that if you sign up for a fixed rate home loan, you do not have to worry about fluctuating interest rate payments. Throughout the first few years of your loan, you will pay a fixed interest payment to the bank. With the current rising interest rate environment, fixed rate home loans allow you to hedge against rising interest rates. On top of that, it also allows you to plan your repayment with 100% certainty.
4. Best Maybank Home loan for Fixed Rates that First-Time Owners Can Consider
One group that we think can consider fixed rate home loan is couples who are getting their home’s first home loan. Based on the data on Maybank’s fixed rate home loans, Maybank’s fixed rate home loan has attractive fixed interest rate for the first 1 to 3 years of lock-in. Thus, if you are getting your home’s first loan, you can consider Maybank’s fixed rate home loan.
However, you can also choose to search for a better loan deal once your lock-in period is up. This is most banks, Maybank inclusive starts charging a board rate/fixed deposit pegged loan that is relatively higher than the fixed interest rate in the lock-in period.
As the best maybank home loan changes regularly, you may choose to check out the current latest Best Maybank home loans here.
One recommended way to source for a good refinancing package for your home loan is to approach a mortgage specialist. A mortgage specialist will help you compare the available home loan deals in the market and provide recommendations for you based on your loan needs. So, why not speak with a mortgage specialist at iCompareLoan today? Our mortgage specialist can assist you in finding your preferred choice of loan packages (and maybe even find the best home loan interest rates). If you are looking to read more about other personal finance matters, click here.
