DBS introduces market-first financing solution for seniors owning private property in Singapore

DBS introduces market-first financing solution for seniors owning private property in Singapore
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SINGAPORE (Aug 16): DBS Group Holdings has unveiled on Monday, the DBS Home Equity Income Loan (DBS EIL), which allows Singaporeans and permanent residents (PRs) aged 65 to 79 years to borrow against their fully-paid private residential property to top up their CPF Retirement Sums.

The CPF Retirement Sums will be used for the CPF Lifelong Income for The Elderly (CPF LIFE) Scheme, a national longevity insurance annuity scheme that provides Singapore citizens and PRs with a monthly payout for as long as they live.

The financing solution is the first of its kind in...(click on link for full story on theedgesingapore.com)