SIBOR Rate Historical Chart

Should you get a fixed or floating rate home loan?

1-Mth-SIBOR Rate
1.68%
+0.0%
as of January 2020
1-Mth-SIBOR Rate
1.68%
+0.0%
as of January 2020
3-Mth-SIBOR Rate
1.74%
+0.0%
as of January 2020
3-Mth-SIBOR Rate
1.74%
+0.0%
as of January 2020
1-Mth-SIBOR Rate
1.68%
+0.0%
as of January 2020
1-Mth-SIBOR Rate
1.68%
+0.0%
as of January 2020
3-Mth-SIBOR Rate
1.74%
+0.0%
as of January 2020
3-Mth-SIBOR Rate
1.74%
+0.0%
as of January 2020
In a Nutshell

You might find yourself at a crossroad trying to figure out the best home loan package. Typically, you’ll encounter fixed and floating interest rate options pegged to SIBOR. Before you lock down your decision, you need to carefully assess your preference, budget, flexibility, as well as market fluctuations.

If you go with a fixed interest rate housing loan, your monthly repayments will be equal over the duration of your loan. One good thing about having a fixed rate is that your instalments won’t be affected by other market factors.

On the other hand, a floating interest housing loan is the complete opposite of a fixed rate housing loan. Even though they tend to be cheaper, you need to be prepared to face the changing nature of your monthly repayments.

Now, when it comes to choosing SIBOR-linked home loan packages, you need to determine how often you want your interest rate to be refreshed. You can choose between 1-month SIBOR and 3-month SIBOR. At times, the length of the SIBOR package can be 6 or even 12 months. However, with most banks in Singapore, you can only opt for a monthly or quarterly interest rate refresh. To help you decide, use the interactive chart below for an overview of historical SIBOR rates.

SIBOR Rate Historical Chart (2006-Present)

While historical SIBOR rates provide a good comparative view of SIBOR trend, you should also look into other factors before getting tied down by mortgage.

Here are the important things you need to consider when choosing your home loan:

Market Conditions

Variations in package offerings from banks

Lock-in periods and waiver penalties

Personal Factors

01

Market Conditions

Comprehensive knowledge of market forces is extremely important to help select what might be the best decision for you for the time period you are looking at taking and paying back your loan. To learn about specific factors, see the FAQ below.

01

Market Conditions

Comprehensive knowledge of market forces is extremely important to help select what might be the best decision for you for the time period you are looking at taking and paying back your loan. To learn about specific factors, see the FAQ below.

02

Variations in package offerings from banks

Banks do not have a standardised offerings. For example, some may or may not have 1-month and 3-month options, so this is not a decision separate from actual bank packages. Our specialists have deep knowledge of the spread of available packages and can help you compare them holistically.

03

Lock-in periods and waiver penalties

These factors may end up being more important than rates when it comes to how much you will save in the end, depending on your loan strategy. Being aware of this can help you weigh the potential risk of high fees with the potential gain of an attractive interest rate.

04

Personal Factors

Personal factors like other financial commitments, CPF contributions, or other timelines also may affect when the right time for you to refinance is. Remember that whatever package you get does not stand alone, it fits in with and affects the rest of your financial plans, assets, and timelines.

Life ring

Need some help deciding?

Let our experienced mortgage specialists narrow down your options.

Here’s how the Best SIBOR Rate Package compares with the Best Fixed Rate Package in Singapore:

You are borrowing/ refinancing
$
over
years

Best SIBOR Rate Package

Monthly Instalments Year 1

Interest Rate Year 1

1.89%

Lock-in Period

2 Years

Rate Type

Floating

Best Fixed Rate Package

Monthly Instalments Year 1

Interest Rate Year 1

2.01%

Lock-in Period

2 Years

Rate Type

Fixed

Rates and fees as of January 27, 12:28 PM based on the assumption that you are purchasing/refinancing a private property.

These home loan recommendations are based on the information entered above. The results do not include other factors such as lock-in period. For a tailored calculation of your potential savings, get in touch with one of our mortgage specialists.

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Still in the midst of choosing the best home loan package?

Our mortgage specialists can help you save time and money with their comprehensive knowledge on mortgage. Just book a call or send a WhatsApp message to make your home loan journey easier.

Still in the midst of choosing the best home loan package?

Our mortgage specialists can help you save time and money with their comprehensive knowledge on mortgage. Just book a call or send a WhatsApp message to make your home loan journey easier.

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Should you pick a 1-month or 3-month SIBOR home loan?

SIBOR-pegged home loan packages with a shorter tenure are ideal when the interest rates are decreasing. On the other end, packages with a longer tenure are preferred when rates are rising.

This month’s SIBOR rates

1-mth SIBOR1.680%
3-mth SIBOR1.740%
6-mth SIBOR1.820%
12-mth SIBOR1.960%

* The SIBOR rate for the month is based on the rate as of the first business day of the month.

Frequently Asked Questions

  • What affects SIBOR rates?
    Some market factors that affect SIBOR include changes in: US Federal Fund’s rates, connected economies and exchange rates, supply and demand of funds in Singapore between banks, equity funds, and borrowers, and the overnight funds market. If you need help informing yourself on relevant information and connecting the dots, our specialists can help to answer any industry questions you may have and help you to make the best decision.
  • SIBOR vs Fixed Rates - Which is better?
    It depends on your situation and what you are looking for. In general, fixed rates are good if you don’t want to think about it and are more risk-averse. SIBOR is seen as more volatile, but offer a chance at more savings. However, as mentioned, it can really depend on whatever is happening in the market and your own goals.
  • What is the difference between SIBOR & SOR?

    SIBOR is based on the interest rates used by banks in Singapore when lending unsecured funds to each other. Simply put, SIBOR reflects how much it would cost banks to borrow from each other.


    SOR is based on the foreign exchange rate with the US dollar. In a simple sense, it projects what the interest rate would cost if the same amount of money were borrowed in US dollars.


    However, in August, it was decided that SOR would be discontinued and transitioned into the Singapore Overnight Rate Average (SORA).

  • When will SIBOR rate go up or down in Singapore?
    SIBOR rate movements depend on a wide variety of factors that can change quite frequently. To learn about what is affecting SIBOR at the time you are reading this, you can call our specialists for free advice.