Notice of revision to Fixed Deposit Rates ("FDR")
From 18 May 2020 (inclusive of this date), we will be reducing our SGD Time Deposit ("SGD TD") rates. As the rates are linked to your FDR mortgage loan package, a revision in the SGD TD rates will change the FDR of your mortgage loan.
The table below illustrates the downward revision in FDR that clients can enjoy:
| | 9-MONTH FDR | 36-MONTH FDR | 48-MONTH FDR |
|---|
| Existing rate | 1.05% + loan margin | 1.37% + loan margin | 1.50% + loan margin |
| Revised rate | 0.80% + loan margin | 1.02% + loan margin | 1.15% + loan margin |
All other features, as well as the terms and conditions relating to your mortgage loan, will remain unchanged.
What you can expect
Once the new interest rate is effective, you should receive a letter in May 2020 stating:
- Full details of the revised interest rate;
- Revised monthly instalment amount; and
- Payment due date for your revised monthly instalment.
If you are subscribed to eStatements, you will receive an eAdvice with these details via Online Banking instead.
For more information, please refer to our FAQs below.
