Standard Chartered Singapore announced on 25 May 2018 they will withdraw 9M FDR-linked home loan products.
History of 9M FDR
9M FDR refers to the 9-month fixed deposit rates for Singapore dollars savings. The rate is published in https://www.sc.com/sg/save/deposit-rates-sgd.html. According to Standard Chartered, its highest and lowest savings rate was 0.30% since 2010. No movement at all.
Home loan products linked to 9M FDR was launched in December 2017, as a replacement for 48M FDR.
9M FDR product is now withdrawn from 25 May 2018.
Launch of 36M FDR
The bank have replaced the above product to those linked to 36M FDR. Home loan rates will track 36-month fixed deposit rates. It is at 0.72% at time of writing.
The product is 36M FDR plus 1.03% every year. Effective rate would be 1.75% p.a.
Curious on how this product compares with housing loans from other banks? Use the mortgage calculator to compare interest rates.
