DBS Bank Unveils New Home Loan Packages To Solidify Leadership Position In Home Loans

SINGAPORE, JULY 19, 2002 - DBS Bank yesterday unveiled two new home loan packages offering value and competitive rates in the market today. The move further solidifies DBS' leadership position in the home loans market.

DBS's floating rate package, at below 3 per cent per year for the first three years, now makes DBS home loans the best value in town. The package offers a floating rate of 1.98 per cent for the first year, and 2.6 per cent and 2.9 per cent for the second and third year.

Its fixed rate package offers 2.5 per cent and 2.8 per cent fixed for the first and second year, and a 3 per cent floating rate for the third year.

Elsie Foh, Managing Director and Head of Personal Banking, DBS Bank, said, "DBS is committed to offering our customers attractive, value-for-money home loan packages. Being a major player here, DBS can leverage on our scale and expertise to provide the best solution for our customers."

"Most importantly, the end benefit goes to our customers, who can again enjoy the most suitable and affordable home loan package from DBS. Apart from rates, customers can also count on DBS home loans specialists to help them structure a package that best meet their needs," Foh added.

Apart from rates, Foh said DBS also believes in offering customers additional value through service. DBS home loans customers will enjoy the dedicated services at its 24/7 Personal Finance Centre - a one-stop service centre staffed by experienced home loans specialists to cater to customers' mortgage and personal credit needs. These specialists are able to provide customers with immediate home valuations as well as 24 hours approval of loan applications upon submission of the necessary documents. In addition, DBS has a team of mobile home loan specialists available to meet customers anytime, anywhere at their convenience to finalise their home loans needs.

"As home loans is a long-term commitment and forms an integral part of a customer's financial portfolio, DBS believes in working with our customers closely to determine their financial position and needs, taking into consideration customers' liquidity, protection, investment and financial goals," Foh said.

"Homebuyers must realise that a home is an investment of their money, and they must choose wisely as they would with any investment. For this reason, the bank currently offers different loan packages to meet the varying needs of homebuyers. For example, the special package at 2.5% pa and 2.8% pa fixed rate for the first two years not only allows the homebuyers to service their first two years' monthly instalments comfortably but also allows them to more effectively manage their budget," she added.

In conjunction with the two new loan packages, DBS has also introduced a special mortgage rate, which offers customers an attractive prevailing rate of just 4 per cent after the third year. The special mortgage rate is applicable only for the two new housing loan packages.

The promotional rates apply to completed properties and properties under construction for loan amounts of S$400,000 or more.

About DBS
DBS Bank is the leading bank in Singapore, with dominant positions in consumer banking, treasury and markets, securities brokerage, Singapore dollar loans, deposits, and equity and debt fund raising. Through its Dao Heng Bank and DBS Kwong On Bank operations, DBS Bank is the fourth largest banking group in Hong Kong. Beyond the anchor markets of Singapore and Hong Kong, DBS Bank serves corporate, institutional and retail customers through its operations in Thailand, The Philippines, and Indonesia. The Bank's credit ratings are amongst the highest in the Asia-Pacific region. More information about DBS Group Holdings and DBS Bank can be obtained from our website www.dbs.com/dbsgroup.