Who are eligible for the Government Bridging Loan?
The loan is applicable to Singapore citizens and permanent residents who are using their CPF savings to service the mortgage loans for the following properties bought before 1 January 1999: – private residential properties; – HUDC flats; – non-residential properties; and – HDB flats where the HDB loan is at the market interest rate. To qualify, the member must: – be below the age of 62 years at the time of application, – not be a bankrupt, and – be affected by the 10% cut in the employer’s CPF contributions.
