How to take advantage of low interest rates in Singapore now
How to take advantage of low interest rates in Singapore now – Singapore is going through one of the toughest periods to face its economy since its independence.
The world economy has slowed to a halt due to the pandemic and if you are someone who is in one of the sectors such as hospitality or travel, you will likely be hit very badly because of the tough conditions.
With travel coming to a complete stop, there is no revenue to speak of. For those in the events industry, it’s the same as well.
Because of this, the world economies and also the Singapore government is dropping interest rates to boost borrowing so that the economy can be humming along at least not at full steam but to mitigate the fall out.
Interest rates have fallen drastically and this is affecting many sectors.
For those who are in need of the low interest rates, they have taken up the Singapore Temporary Bridging Loan, meant to save businesses and also to keep their employment. Interest rates are so low that businesses are paying almost no interest to begin with.
The Singapore SME bank loan sector is right now very hot and getting loans is relatively easier if you need more loans to keep yourself afloat through this downfall.
For those who are not doing business but own properties in Singapore, this is also a good time to work on getting your mortgage refinancing done.
You can save up to a few hundreds and in some cases thousands if you refinance your home loans with a Singapore Home Loan broker.
For those who know how to take advantage of the low interest rates in Singapore to gain more wealth.