Latest SORA Rates (2022)

We publish the latest 2022 chart and rates for Singapore dollars SORA, up-to-date from January to December. At the bottom of this page, you will find links to the pages for other years of SIBOR and SOR starting from 2012. SIBOR will be phased out by 2024 and is replaced by SORA. Banks have stopped offering SIBOR-linked mortgages. Home loans linked to SOR have been obsolete for more than 5 years.

Definitions

SORA: SORA, short for Singapore Overnight Rate Average, is the volume-weighted average rate of actual borrowing transactions in the unsecured overnight interbank SGD cash market in Singapore. It is administered by the Monetary Authority of Singapore (MAS), and published at 9am on the next business day in Singapore.

SORA comes in 1-, 3- and 6-month tenures. At the end of each tenure, the borrowing bank returns the borrowed fund to the lending bank. The 1-month and 3-month SORA are the most popular rate that mortgage loans are pegged to. SORA is the only benchmark interest rate that’s transparent in Singapore.

Simply put, SORA is the actual average (according to volume) interest rate banks lend to each other for the past 1-month, 3-month and 6-month.

2022 January to December SORA and SIBOR Rates

How is SORA calculated?

SORA is calculated based on the volume weighted average of all SGD overnight cash transactions that took place in the interbank market for the particular day. This average rate is published on the MAS website on a daily basis.

SIBOR and SOR Historical Rates