As opposed to a fixed rate financing, you could prefer to get a drifting price financial to help you funds your own HDB apartment. Drifting costs try labelled so you’re able to reference cost (elizabeth.grams. SIBOR, SOR, bank’s board rate) that continuously move over the years. Drifting speed mortgages can be beneficial whenever market cost is actually high and you will likely to lowering of the latest coming decades. When you compare such mortgage brokers, it is important to take on the latest cost of your payment as well as the full interest prices while the lock-within the months, and this decides exactly how in the near future you could refinance the loan.