DBS/POSB rolls out $40m of measures to help lower-income households cope with rising costs

A POSB home loan package with an all-in interest rate of 2.6 per cent, similar to the Housing Board's concessionary home loan rate, will be extended to end-December to allow for more sign-ups.

- Michelle Ng

The package is part of $40 million worth of measures announced by DBS Bank/POSB on Saturday to help Singaporeans with the rising cost of living.

It is available to those with a monthly income of $2,500 and under. New HDB home owners and those who wish to refinance their HDB mortgages are eligible.

On Saturday, Deputy Prime Minister Lawrence Wong said dealing with the issue of the rising cost of living is a joint effort by the Government, businesses and community groups.

He said that while the Government has rolled out a number of support measures such as the Community Development Council vouchers with more help to be made available in the coming months businesses can also play a part in uplifting vulnerable and disadvantaged families.