How To Check Your Housing Loan Balance
Have you ever wondered how to check your housing loan balance? It is common knowledge that knowing how to check housing loan balance is important to avoid overspending.
Singaporeans are known for being disciplined spenders. We spend within our means and do not live beyond our means.
But every month, you still have to pay a huge sum of money for our housing loan installments. So how do you keep track of your finances?
You can check your HDB loan balance online. It’s quick, easy, and convenient. You probably know by now that you can check the HDB loan balance on HDB’s website.
But did you know that you could also check it from the comfort of your own home? Find out how to check housing loan balance and other loans in this article.
How To Check HDB Statement Of Account For Housing Loan
If you’re a first-time home buyer, it can be pretty daunting to know how much you owe on your housing loan.
You’re probably worried about whether you’ve been paying enough. Or if there’s a chance that you might never pay off your mortgage.
But don’t worry, we’re here to help. You can check your HDB housing loans online. Here are some tips on how to check your CPF balance statement of account for a housing loan:
- Download the app on your phone. The first thing you need to do is download the HDB app from the App Store or Google Play store. It’s free and available, so everyone can use it.
The app will let you check your account balance and transaction history easily, so there’s no need to worry about remembering anything.
2) Log into your account: Once you’ve downloaded the app, all you have to do is log into your account using your Singpass.
3) After logging into your HDB eServices account, click on “Housing Loan” under “My Loans”.
4) Click on “HDB Statement of Account” under “My Accounts”. This will take you to a page with all of your recent statements, which has information about your monthly payments and outstanding principal balance.
5) Click on any statement date to see more details such as the amount due, number of installments paid, interest amount saved by making an early payment, and more.
How To Check Outstanding Housing Loan Statements
When you are applying for a housing loan in Singapore, it is important to know how much you can afford. This will help you compare the offerings from different banks and decide which one offers the best deal for your needs.
There are several ways to check your outstanding HDB loan statement. Here are some of the most popular options:
- Online via email or SMS
- Through your bank’s website
- Through an app on your phone
Online Via Email Or SMS
If you have not received your statement yet, you can sign up for it online through your bank’s website. You will usually receive an email with instructions on how to download the statement once it has been processed by your bank.
If this method is unavailable, then another option is through text message or SMS. But it may not always be accurate because it’s pulling information from your bank’s records rather than directly from the HDB or bank.
Through Your Bank’s Website
The easiest way is to go through the bank’s website itself. This is where the bank has dedicated pages that allow users to check their balance without having to go through any additional steps.
These steps may include downloading an app or signing up for a service before you can get your account balance information.
You can also check your balance through your bank’s website by logging in with your password and PIN number. This method usually takes longer than checking online via email or SMS, but it has more accurate information than those methods do.
Through A Mobile App
Finally, there are apps on both iOS and Android that will show users how much money they owe on their mortgages. It also shows other loans such as credit cards or personal loans from banks or other financial institutions.
How To Read Your Bank Mortgage Statement
If you’re one of the many Singaporeans who have a mortgage with a bank, then you’ll need to check your balance regularly.
There are several ways to do this – online, in person, or over the phone. You can even check your balance through text messages or email.
It’s easy to get confused by all the numbers and letters on your account statement, but we’ve got you covered. Here’s a quick guide to reading your bank mortgage statement:
- Find your statement date (usually on the top right corner of the page).
- Look for “Due” in the top right corner, this is the date when you need to pay off your mortgage.
- Under “Due,” look for “Balance”, this is how much money you still owe on your mortgage.
- Under “Balance,” look for “Interest” – this is how much interest has accrued since last month’s balance.
- Under “Interest,” look for “Paid” – this is how much interest has been paid so far this month.
Reviewing Your Bank Mortgage Annual Statement
When you’re ready to start looking into a mortgage for your next home, it’s important to be prepared. One of the first things you’ll want to do is review your bank’s annual statement.
Reviewing your bank mortgage annual statement is a great way to stay on top of your finances. It’s also an important part of the home-buying process.
Most banks offer a mortgage annual statement as an option for customers.
The statement lists all of the details about your mortgage, including when it was opened, who it was opened with, and how much you owe.
You can also use this statement as a record of payments made towards your loan and any fees incurred during the year.
An annual statement is exactly what it sounds like: a record of all the activity in your bank account over the course of the last year. It will include details about all deposits and withdrawals you made (including cheques), and fees that were charged or deducted from your account.
When reviewing your annual statement, look for any fees or charges that seem out of place or excessive.
Also, look for any large deposits that don’t match up with any other transactions within this time period. If you notice anything unusual, contact your bank immediately so they can investigate what happened.
Some banks will send you a copy of this statement annually while others may only send it if you request for it. If you don’t receive one from your bank, contact them directly and ask for one.
How This Helps You
For effective loan management, make sure you know how to check housing loan balance and do so regularly.
It’s crucial to do so as it helps you to know the exact amount you have to pay every month and keeps you informed about the status of your loan. You can check your housing loan balance online or by visiting your bank branch.
If you are planning to buy a home, it is important to keep track of your housing loan balance so that there aren’t any surprises when it comes time to make payments.
Also, if you know how much money is owed on the mortgage, then you’ll be able to plan accordingly and make sure that you don’t miss any payments.
It’s also important to check your housing loan balance if anything changes with your finances –for example, if you get married or divorced, or if someone in the household gets a new job with higher pay.
These things can affect what amount goes toward paying off the mortgage each month.
So keep an eye on how much money is being paid off each month so that it doesn’t take too long before everything is paid off.
Always Check Your Housing Loan Balance
With such a methodical organisational system, it’s easier to track your housing loan balance without much hassle.
With the added flexibility of having multiple options, you’ll most likely be able to cover your expenses without too much trouble.
Frequently Asked Questions
How Do I Check My Housing Loan Balance?
The easiest way to check your housing loan balance is by visiting the Housing & Development Board (HDB) website. Click on “Loan Information”. Then select the option called loan details.
This will show you all of your outstanding HDB loan payments and your current balance. If you want more detailed information about each payment and transaction, then you should choose “transaction history”.
What Is The Difference Between A HDB And Bank Loan?
An HDB loan is a government-backed loan offered by HDB, while a bank loan is from any commercial bank in Singapore approved by the Monetary Authority of Singapore (MAS).
Both types of loans are used for purchasing housing or upgrading existing housing from one type to another. The only difference between them is where they come from.
HDB loans are provided by approved financial institutions; bank loans are provided by any commercial bank in Singapore that has been approved by MAS.
Can I Check My Loan Balance Online?
Yes, you can check your HDB, DBS, OCBC, UOB, POSB, or Maybank loan balance online. You will need to provide your NRIC number, as well as the account number of your housing loan account.
If you do not have an account number, you can contact Customer Service and they will be able to assist you further.
How Do I Find Out How Much I Still Owe?
You can get your outstanding loan amount by logging into the HDB website and going to “My Loans” under the “My Profile” section on HDB’s homepage.
You can also try other methods such as calling the HDB hotline or visiting a nearby HDB branch if you need assistance with this matter.