UOB Singapore have retired their mortgages linked to Fixed Deposit Property Rate (FDPR) from July 2018. Let’s look at the history.
FDPR-linked
Mortgage products linked to FDPR was launched in 2016 by UOB for Singapore properties. The bank very first product was linked to 36-month FDPR. During that time, 36M FDPR was at 0.65%. It has since risen to 1%.
Subsequently, 15M FDPR-linked and 14M FDPR-linked home loans were launched. Both rate remains at 0.25%.
From July 2018, all FDPR-linked home loans are retired. A new rate, Mortgage Rate (MR) will replace it. It is currently at 0.85%. Its history is:
Over the past 20 years:
Lowest MR was 0.5% in June 2016
Highest MR was 8.5% in Jan 2007
Affected customers should compare their 36M FDPR loans with current refinancing options.
