DBS's reverse mortgage offer is a stab at unlocking the 'asset-rich, cash-poor' conundrum
With rising life expectancy and not knowing how long one may live, getting a higher monthly payout for life looks appealing, but there are interest costs to bear
Singapore
THE population is getting older. People are living longer. Some have insufficient retirement savings. Private home prices are rising. People are searching for more recurring income.
Against this backdrop, DBS introduced a reverse mortgage offering - the Home Equity Income Loan - in August. The bank uniquely tied up with the Central Provident Fund (CPF) to help seniors unlock equity from their private homes while they continue to live in them.
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