UOB Singapore have retired their mortgages linked to Fixed Deposit Property Rate (FDPR) from July 2018. Let’s look at the history.
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.