Interest Rate up
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Hi guys
Heard from a friend that the bank interest rate is up and he learned from a property agent on his recent house hunting, the agent is saying that the loan interest rate will also be up to 4.35% by the month of April and 7% by the end of the year.
Has anyone recieve such news? What is going on with our government? can't they help on this by controlling the interest from going up? already paying my hdb load until very "siong" already man... -
LOL, reported in the news. Never see or hear?
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dats y got give u all big $ mah, then later tax will reclaim back more
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Sorry la, busy with my wife sickness lately no time to read newspaper. Am under pressure to find more money for the treatment la. Which day news paper will go dig the article out please let me know thanks.
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i think shiok leh...then my money in E saver get more interest...
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is our economy under the severe threat of inflations? what is the justification for the interest rate hike for both car loans and housing loans??
maybe we should all stop buying and see what happens. -
That's the whole point of passing the budget surplus on to citizens, so they can take it back, and possibly win the mandate at the same time.
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All kena conned into the "low interest rate" trap when they took up a bank loan a few years back.
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when inflation is up...and approaching the 2% level...central bank will increase interest rate.
this is to make savings a more attractive option and spending less attractive. Home owners who took loans will thus have lesser money to 'bid' for other items.
thus prices and demand for other goods will reduce.
when the economy is on a downturn, interest rates will be reduced to stimulate spending. so citizens won't keep money in their banks and rather spend it today.
Its the great balance of economy and NO the government is NOT out to cheat you.