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Everything You Need To Know About Staff MortgageOne Packages

  1. Commercial packages seem to be better than the current Staff MortgageOne package, why is this so?
    Our commercial packages are benchmarked against competition and is subject to change from time to time. The commercial promotional rates may also be subjected to meeting various criteria and the rates are usually valid for a specified period only.  Plus, the commercial package does not offer 100% interest offset and usually comes with a lock-in period. The most ideal package will be one that best suits your needs.
  2. What are the commercial packages available to me if I choose to re-price my Staff MortgageOne loan?
    The promotional commercial packages available to you include:
  3-month SIBOR
Year 1 to Year 2 +1.13%
Thereafter +1.13%
Lock-in period 2 years
MortgageOne Interest offset Two-thirds of the MortgageOne deposit will earn the same interest rate as the loan and the remaining will be at 0.25%. The MortgageOne deposit interest earned will be used to offset the loan interest.

These packages are subject to change and valid from 04 January 2021. For more information, please send your enquiry to the Mortgage Retention Unit (“MRU”) at sg.mru@sc.com or speak to your relationship manager.
As of 4 January 2021, 3-month SIBOR rate is at 0.40542%.

  1. Will there be any charges if I request to re-price my Staff Mortgage?
    There are no charges to re-price your mortgage loan to any of the commercial packages mentioned in point (2).
  2. Can I continue to enjoy the 100% interest offset feature after I convert my loan to a commercial package?
    The commercial packages mentioned in point (2) are on two-third interest offset unlike the Staff MortgageOne package which has 100% interest offset feature.
  3. What are the documents I need to submit if I choose to re-price my Staff MortgageOne loan? And how should I submit?
    Please send your request and documents to MRU at sg.mru@sc.com. Here are the required documents applicable for owner-occupied property (for housing loan only):

    1. A copy of all borrowers’ NRIC* or Passport (for foreigners)
    2. The tax portal of the subject property showing the tax rate of the property under owner occupation
    3. Any utility bills statement or any letter from government /fire insurance with mailing and property address^ and all account holder name(s) printed in the letter (for passport holders only)

Please note that all repricing applications are subject to approval. There will be additional documents required if the property is used for investment purposes. Please email MRU for more information.
* NRIC address should be the same as the mortgaged property address
^ Mailing address should be the same as property address

  1. How long does it take to effect the change of interest rates?
    Upon receipt of your documents, the approval process will take two to five working days. You will be required to accept the revised Letter of Offer and the Residential Property Loans Factsheet (“Factsheet”). If we receive the documents one week before the end of the month, the interest rate will be revised the following month. We will confirm the revised instalment amount and effective date of payment with you after we receive the documents. Please refer to the timeline illustration below:
Property Revised Letter of Offer acceptance date Effective date of revised interest rate
Private Residential


On or before 23 November 2017 1 December 2017
After 23 November 2017 2 January 2018


On or before 23 November 2017 15 December 2017
After 23 November 2017 15 January 2018

7. Why is my housing loan package pricing and terms different from my colleague’s?
The commercial packages are reviewed from time to time and subject to change.