HOME buyers can now take a punt on the stock market while diving into the resurgent property market.
HSBC is launching today an equity-linked home loan package that also offers cash rebates to its customers – a first in Singapore.
It will give all new and existing HSBC Premier customers in Singapore a chance to enjoy quarterly cash rebates over a period of two years if a certain stock index that it is linked to does well.
A minimum loan size of $200,000 is needed.
The package – which applies to both new and refinancing loans – is tied to the Morgan Stanley Capital International Singapore Free Index, which currently tracks 27 stocks, including those of the three local banks, the Singapore Exchange and Singapore Press Holdings.
Under the package, which does not come with a lock-in period, customers will pay an interest rate pegged to the three-month Singapore Interbank Offered Rate (Sibor) plus 1.1 per cent throughout the loan tenure. Continue reading
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