In Singapore, most banks use Sibor to determine the interest rate of their home loan packages. Sibor stands for “Singapore Interbank Offered Rate”. It is a daily reference rate based on the interest rates at which banks offer to lend unsecured funds to other banks in the Singapore wholesale money market (or interbank market).
5 Factors impacting your mortgage interest rates
By now, you should have known that the era of ultra-easy money is drawing to an end for Singapore mortgage holders. Singapore’s domestic interest rates are rising at their fastest pace in a decade. How fast can this continue? how much can it grow? The three-month Singapore interbank offered rate (Sibor) is commonly used to set the […]
How to check your personal credit bureau report in Singapore
Your credit report is more important to you than you think. A few months ago, I wrote a blog article about my encounter with one of the local banks that rejected my request to increase credit card limit for no good reason. I mentioned I had an “AA” CBS Credit Score from Singapore Credit Bureau. […]
Tell OCBC what home means to you
What does Home mean to you? “Home is not just a house, it’s a special feeling. Like the sound of a favourite song, the smell of mom’s cooking, or the twinkle in a loved one’s eyes. Tell us what home means to you and get one step closer to your dream home.” OCBC never ceases […]
Get Your Property Loan The Right Way: An Exclusive Interview with iCompareLoan
Last week, I wrote about my encounter with a bank for failing to increase my credit card limit without even an explanation. Come to think of it, the issue is so trivial comparing to property loans. Many people mistakenly think that they can easily get credit from their bank to purchase their property. Worse, they […]
Why Is The Ease of Total Debt Servicing Ratio (TDSR) Restriction Disappointing
On Feb 10, 2014, The Monetary Authority of Singapore (MAS) announced to ease the restrictive Total Debt Servicing Ratio (TDSR) on certain property buyers. What it says is that some of those who bought a residential property before the TDSR measure (introduced on June 29, 2013) will be exempted from the TDSR threshold of 60% […]