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Revision of Singapore Dollar Time Deposit Rate & Mortgage 9-month, 36-month and 48-month Fixed Deposit Rate (FDR)

 

From 8 December 2022 (inclusive of this date), please note that Singapore Dollar Time Deposit ("SGD TD") interest rates (per annum) will be revised as below:

 

 1 MTHS3 MTHS6 MTHS9 MTHS12 MTHS15 MTHS18 MTHS24 MTHS36 MTHS48 MTHS60 MTHS
Existing Rate0.0500%0.1000%0.1500%0.5000%0.5500%0.7000%0.7000%0.7000%0.7200%0.8500%0.9500%
Revised Rate0.8500%0.9000%0.9500%1.3000%1.3500%1.5000%1.5000%1.5000%1.5200%1.6500%1.7500%

The Mortgage 9-month, 36-month and 48-month FDR base rates will be adjusted accordingly. As these rates are linked to your FDR mortgage loan packages, a revision in the SGD TD rates will change the interest rates of your FDR mortgage loans. All other features, as well as the terms and conditions relating to each mortgage loan, will remain unchanged.

 

What to expect

 

Once the new interest rate is effective, clients with FDR mortgage loan should receive a letter in December 2022 with details of:

  • The revised interest rate;
  • Revised monthly instalment amount; and
  • Payment due date for the revised monthly instalment.

If you are already on eStatements, you will receive an eAdvice with these details via Online Banking instead. For more information, please refer to our FAQs below.