Lowest Interest Rates

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"A consultation involving the Association of Banks in Singapore proposed that the SIBOR be phased out in three to four y...
05/04/2021

"A consultation involving the Association of Banks in Singapore proposed that the SIBOR be phased out in three to four years and replaced by the SORA"

Confused about SIBOR, SOR and SORA? They're all interest rate benchmarks that banks use to determine how much interest to charge or to pay out.

Is it wise to get HDB loan?
20/10/2020

Is it wise to get HDB loan?

While HDB home loans are more expensive at 2.6%, there are still many reasons they can offer homebuyers a better home loan option.

Given Sibor’s impending discontinuation by 2024, consumers who apply for Sibor based loans now will not be affected as t...
30/07/2020

Given Sibor’s impending discontinuation by 2024, consumers who apply for Sibor based loans now will not be affected as they can refinance when the time comes.

SINGAPORE — The Singapore Interbank Offered Rates (Sibor) — the benchmark interest rate in Singapore — could be discontinued in the next three to four years and replaced by the Singapore Overnight Rate Average (Sora).

Do you like the new SORA home loan?"The interest rate for OCBC's 90-day SORA home loan is calculated based on the simple...
13/07/2020

Do you like the new SORA home loan?

"The interest rate for OCBC's 90-day SORA home loan is calculated based on the simple average of the daily SORA rates over the past 90 calendar days ahead of the loan repayment period. This rate is updated every month, instead of every three months, for a particular loan."

OCBC has launched Singapore’s first home loan referencing the Singapore Overnight Rate Average (SORA), an alternative benchmark rate, available to buyers of completed private properties with a minimum loan size of S$1 million. Read more at The Business Times.

Do you think it will be better to have floating rates?
12/06/2020

Do you think it will be better to have floating rates?

US Federal Reserve chairman Jerome Powell sent a powerful message on Wednesday that the central bank will keep pumping stimulus into the US economy until its traumatised labour market has healed from the harm of the coronavirus pandemic. Read more at The Business Times.

Have you found more attractive packages?
10/06/2020

Have you found more attractive packages?

SINGAPORE'S biggest mortgage player DBS is still not going down the well-trodden path of actively offering home loans linked to the Singapore interbank offered rate (Sibor) - though the fall in Sibor could lure customers away from its flagship product, which is tied to the bank's fixed deposit rates...

Are you still getting the best possible deposit rates?
10/06/2020

Are you still getting the best possible deposit rates?

Fixed deposit (sometimes called time deposit) accounts are low-risk investments that earn you interest over a fixed commitment period. You don’t need to do anything to earn this interest, just park your money with a bank.Think of...

How will the Increase in hot money impact interest rates in SG?
08/06/2020

How will the Increase in hot money impact interest rates in SG?

SINGAPORE: The strong growth in foreign currency deposits in Singapore this year has come from diverse sources - domestic, regional and beyond the ...

Are you taking advantage of the lower interest rates now?
06/06/2020

Are you taking advantage of the lower interest rates now?

SINGAPORE - More home owners are refinancing their mortgage, as banks' interest rates for floating home loans are at its lowest in recent years.. Read more at straitstimes.com.

Finally, they decided to return back to 0.10% floor rate
04/06/2020

Finally, they decided to return back to 0.10% floor rate

SINGAPORE — CIMB bank said that it would keep to its mortgage floor rate, after an earlier decision to increase it to 0.9 per cent from 0.1 per cent set off alarm among homeowners who have taken up loans with the bank.

Most of the banks are following suit
02/06/2020

Most of the banks are following suit

AMID a weakening interest rate environment and the challenging macro climate, Standard Chartered will cut rates on several savings accounts, while OCBC will likewise cut interest rates on its flagship deposit account. These take effect from July 1. Read more at The Business Times.

Are your savings working hard for you? What are your plans going forward?
02/06/2020

Are your savings working hard for you? What are your plans going forward?

SINGAPORE - Local banks have cut their interest rates on savings accounts amid the coronavirus outbreak this year, with OCBC Bank being the first to announce another reduction since May.. Read more at straitstimes.com.

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