CPF interest rate increases, what about HDB concessionary loan rate?
choongyong.koh August 21st, 2007
From HDB
The HDB concessionary loan rate is pegged at 0.1% above the prevailing CPF interest rate. Now CPF interest rate is going to be increased to 3.5%, does this mean that the HDB concessionary loan rate will also be increased?
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Dear Sir,
that is how smart the Singapore Government is. They only raise the interest 1% for the 1st 40k and not across the board, so we cannot actually say they raise th CPF interest rate.
The effective CPF rate for people who have a lot of it effectively remains at 2.5%. Hopefully the HDB loan rate will not increase.