Maybank Singapore have sent letters informing their affected home loan customers on the change in 36M FDMR.
Impact of 36M FDMR
36M FDMR refers to the bank 36-month fixed deposit rates. It is both a savings rate and lending rate. When it moves, your loan rates will increase as well as your cash savings.
From 17 April 2019, Maybank will increase 36M FDMR from 1.80% to 2.05%.
The previous round of increment was done on 26 July 2018. It was revised from 1.40% per annum to 1.80% per annum.
When their 36M FDMR-linked home loan product was launched, this FDMR rate was at 1.40%.
Affected customers should compare their refinancing options.
