Standard Chartered Home Loan

Since 1859, Standard Chartered Singapore has been providing more than a century of service in Singapore’s finance and banking sector, and has grown to be one of the most renowned banks locally and regionally, with 111 billion in total assets (as per its latest annual report).

They are also known for their MortgageOne and Home Suite packages for private properties, executive condominiums and HDBs, and one of the few banks in Singapore to offer HDB Bridging Loan packages to homeowners. Standard Chartered’s MortgageOne rates used to be linked to the SIBOR rate, but they’ve switched their housing loans to the Singapore Overnight Rate Average (SORA) rate ever since the recent nationwide interest rate reform.

With the SOR and SIBOR rates to be gradually phased out in the next 3 or 4 years, all of Standard Chartered loans are now linked to their Fixed Deposit Rate (FDR) and the SORA rate. If you’d like to find out more about SORA vs SIBOR vs SOR rates, you can read about it on our comparison page.

As a first-time home loan buyer or someone looking to refinance your existing home loan, you may find something suitable in Standard Chartered’s range of home loan packages with interest rates starting from 1.34% for a SORA-pegged (the current 3-month Compounded SORA rate at 0.1313% as of August 2021), up to 1.72% for a Fixed Deposit Rate (FDR) rate package.

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Why Choose Standard Chartered Home Loans?

As part of Standard Chartered Group, an international banking group based in London, Standard Chartered Singapore is one of the well-known banks locally and globally with a longstanding commitment of providing financial expertise to its customers, including commercial property loans and personal housing loans.

Moreover, it is known for offering benefits such as offsetting your mortgage loan interest while you save, referral reward of up to $1,300, its Deposit Insurance Scheme which provides coverage for your deposits in your account with Standard Chartered, and more.

More than a century of credibility

With over 160 years of track record as a renowned bank offering financial services including housing loans in Singapore, Standard Chartered Singapore has the "A" and "A+ '' credit ratings by Standard & Poor’s and by Fitch, which are among the highest in the world.

What’s more, it has been accorded the “Significantly Rooted Foreign Bank” (SRFB) status by the Monetary Authority of Singapore.

MortgageOne all-in-one features

MortgageOne is a home loan package for private residential property that also works as a savings/current/payroll transactional account. It allows you to offset your mortgage loan interest while you save.

Your savings in the MortgageOne deposit account are insured up to S$75,000 under the national Deposit Insurance scheme.

Member-Get-Member Referral promotion

If you’re already financing your home with a Standard Chartered mortgage package, you’ll get to enjoy some perks i.e. receive up to $1,300 when you refer your family and friends to take up a residential property loan (whether it’s a new purchase or refinance of home loans) with Standard Chartered.

Other terms and conditions apply.

HDB Bridging loans

While most banks provide bridging loans only for business enterprises, Standard Chartered is among the few banks which offer bridging loans for HDB homeowners to pay for the downpayment of a new property purchase while waiting for the sale proceeds from the existing property (another flat from the HDB resale market or directly from the HDB).

The tenure of these loans are 6 months, relatively short term, with low fees and competitive interest rates based on the SIBOR rate.

Fixed Deposit-linked interest rate (36M FDR)

36M is one of the home loan interest rates offered by Standard Chartered, which refers to the prevailing 36 months Singapore Dollar fixed deposit interest rate of Standard Chartered bank.

Besides this 36-month FDR, Standard Chartered offers the 9-month FDR and 48-month FDR as well.

Standard Chartered Private Property/Executive Condominium Home Loans

Whether you’re considering getting a private residential property or an executive condominium, Standard Chartered offers both floating and fixed housing loan rates for these properties. 


Standard Chartered’s SORA-pegged vs floating-rate packages

Currently, Standard Chartered provides 2 types of floating-rate mortgages — the 3-month (3M) Compounded SORA packages pegged to the Singapore Overnight Rate Average (SORA) for HDBs and private properties, and the 3-month (3M) Compounded SIBOR HDB Bridging loan package.


Standard Chartered’s SORA-pegged packages are based on the SORA rate which is known as the volume-weighted average rate of borrowing transactions in the unsecured overnight interbank SGD cash market. As the 3-month (3M) SORA rate is calculated and updated by the Monetary Authority of Singapore (MAS) every 3 months, your Standard Chartered SORA-pegged package and interest rate will be updated every 3 months as well. 


Note that Standard Chartered also charges a mark-up, which is called a “spread”, on top of the 3-month SORA rate. Together, these 2 components form the total interest rate which determines your monthly payments.


Although both Standard Chartered’s 36M FDR rate and the SORA rate are validated by MAS, the 36M FDR rate is a board rate, which is still entirely determined by Standard Chartered and is subject to changes anytime.


Here’s an example to illustrate. You and your partner plan to buy a landed property costing $1,500,000, and the total monthly income for both of you add up to $15,000. Assuming that you’ve picked the 2-year FDR (36 FDR* + 0.68% p.a.) package with an interest rate of 1.40% p.a. 


After Standard Chartered assesses your loan-to-value (LTV) ratio, which is your maximum borrowing capacity (75% of the property price), you’re eligible for your preferred 2-year FDR (36 FDR* + 0.68% p.a.) package with a loan amount of $1,125,000 and a tenure of 25 years. The estimated math will be as follows with the help of MoneySmart’s Mortgage Calculator.


Your downpayment:

$300,000 by CPF + $75,000 in Cash = $375,000

(at least 5% of the property price to be paid in cash which comprise of the option fee & option exercise fee, and 20% to be paid in CPF)


Your estimated monthly instalment:

It’ll be $4,446.62  

(based on the 36 FDR 0.72% + 0.68% p.a. interest rate which may fluctuate over time) 


Your estimated total interest payable over 25 years:

It’ll be $208,985.47


Other one-time payments*:

$45,000 (buyer’s stamp duties) + $3,000 (legal fee) + $400 (valuation fee) = $48,400


Estimated total payment over 25 years:

$1,500,000 + $48,400 = $1,548,400  


*Buyer’s stamp duties fee is usually about 3% to 4% of the purchase price of the private property - a form of tax payable to the government for registration of purchase of the property. Legal fees are often paid to property lawyers for the processing of the private property’s home loan. Banks will usually have their own panel of licensed valuers and the valuation fee for a private property can range from $200-$400 due to the valuation report required. 


Below are the consolidated housing loan rates for executive condominiums and private properties offered by Standard Chartered.

Standard Chartered Private Property/Executive Condominium Home Loan Rates

Standard Chartered SORA rateStandard Chartered Board (36M FDR) rateStandard Chartered Fixed rateStandard Chartered Fixed rate
Year 1 interest rate3M SORA + 1.25% p.a.

36 FDR* + 0.68% p.a.

*The 36 FDR rate is at 0.72% p.a. (as of August 2021).

1.60% p.a.1.60% p.a.
Year 2 interest rate3M SORA + 1.35% p.a.

36 FDR* + 0.68% p.a.

*The 36 FDR rate is at 0.72% p.a. (as of August 2021).

1.60% p.a.1.60% p.a.
Year 3 and thereafter interest rate3M SORA + 1.45% p.a.

36 FDR* + 0.68% p.a.

*The 36 FDR rate is at 0.72% p.a. (as of August 2021).

36 FDR* + 1.00% p.a.

*The 36 FDR rate is at 0.72% p.a. (as of August 2021).

1.60% p.a. (36 FDR* + 1.00% p.a. for Year 4 and thereafter)
Lock-in period2 years2 years2 years3 years
Minimum loan$100,000$100,000$100,000$100,000
Partial repayment fee1.50% of the amount repaid (min. $10,000)1.50% of the amount repaid (min. $10,000)1.50% of the amount repaid (min. $10,000)1.50% of the amount repaid (min. $10,000)
Cancellation fee1.50% of undisbursed loan amount1.50% of undisbursed loan amount1.50% of undisbursed loan amount1.50% of undisbursed loan amount

Standard Chartered Building Under Construction (BUC) Home Loans

For residential properties under construction (BUC), there are 2 types of packages without lock-in — 3-month (3M) Compounded SORA and 36M FDR. 


The first home loan package is computed based on the current 3M Compounded SORA rate at 0.1313% (as of August 2021), plus Standard Chartered’s spread of 1.20% p.a. The 36M FDR rate is currently 0.72% (as of August 2021), plus a spread of 0.68% p.a.


You can use our Progressive Payment Calculator to find out how much you need to pay at each stage of construction.

Standard Chartered BUC Home Loan Rates

Standard Chartered SORA rateStandard Chartered Board (36M FDR) rate
Year 1 interest rate3M SORA + 1.20% p.a. (For private properties, +0.05% p.a. for each year)36 FDR* + 0.68% p.a.
Year 2 interest rate3M SORA + 1.30% p.a. (For private properties, +0.05% p.a. for each year)36 FDR* + 0.68% p.a.
Year 3 and thereafter interest rate3M SORA + 1.40% p.a. (For private properties, +0.05% p.a. for each year)36 FDR* + 0.68% p.a.
Lock-in periodNoneNone
Minimum loan$100,000$100,000
Partial repayment fee1.50% of the amount repaid (min. $10,000)1.50% of the amount repaid (min. $10,000)
Cancellation fee1.50% of undisbursed loan amount1.50% of undisbursed loan amount

Standard Chartered HDB Home Loans

If you’re thinking of getting a HDB home loan, Standard Chartered has 5 types of packages including the 3-Month (3M) Compounded SORA loan, 36M FDR loan, 2-Year Fixed rate loan, 3-Year Fixed rate loan, and the 3-Month (3M) Compounded SIBOR HDB Bridging loan, which are alternatives to the HDB loan.


Ranging from 1.34% p.a. to 1.72% p.a., Standard Chartered mortgage rates are currently lower i.e. than the HDB loan’s rate of 2.6% p.a.


However, you’ll need to make a higher downpayment of 25% (of which at least 5% must be in cash) as compared to HDB’s loan which is only 10% (can be fully paid with CPF).


For example, you are keen on taking up a $300,000 SORA-pegged loan with Standard Chartered (2 years lock-in period) for a resale HDB flat and the tenure is over 20 years.


The 3-month Compounded (3M) SORA rate is 0.1313% (as of August 2021), the same rate that all banks in Singapore follow for any SORA-pegged home loan packages. Also, you’ll need to include Standard Chartered’s “spread” to the 3-month SORA rate (both will form the total interest rate, and determine your monthly instalment amount).


Your downpayment:

$60,000 by CPF + $15,000 in Cash = $75,000

(20% of the total loan among paid with your CPF and a minimum 5% of the total loan amount paid in cash)


Your estimated interest to pay for the first month:

Standard Chartered’s spread = 1.20%

3-month Compounded SORA = 0.1313%

0.1313% (3M Compounded SORA) + 1.20% (bank’s spread) = approx. 1.34%

1.34% x $300,000 = $1425.67 

$1425.67 ÷ 12 months = $119 

(based on the 3-month Compounded SORA rate which will fluctuate over time)


Other one-time payments:

$1,000 + $4,000 (option fee + option exercise fee) = $5,000

(this $5,000 is considered a deposit which forms part of the downpayment paid in cash i.e. $15,000)


Estimated total payment over 20 years:

$300,000 (principal amount) + $42,159.92 (in interest) = $342,159.92


*All above calculations are estimated using MoneySmart’s Mortgage Calculator.


Besides the SORA-pegged package, other floating-rate packages include the SIBOR-linked loan which you can have a look at below. If you’re more risk-averse, you may want to consider Standard Chartered’s fixed-rate loan packages instead of floating-rate ones.

Standard Chartered HDB Home Loan Rates

Standard Chartered SORA rateStandard Chartered SIBOR rateStandard Chartered Board (36M FDR) rateStandard Chartered Fixed rateStandard Chartered Fixed rate
Year 1 interest rate3M SORA + 1.20% p.a.3M SIBOR + 2.00% p.a.

36 FDR* + 0.68% p.a.

*The 36 FDR rate is at 0.72% p.a. (as of August 2021).

1.60% p.a.1.60% p.a.
Year 2 interest rate3M SORA + 1.30% p.a.NA for HDB Bridging loan

36 FDR* + 0.68% p.a.

*The 36 FDR rate is at 0.72% p.a. (as of August 2021).

1.60% p.a.1.60% p.a.
Year 3 and thereafter interest rate3M SORA + 1.40% p.a.NA for HDB Bridging loan

36 FDR* + 0.68% p.a.

*The 36 FDR rate is at 0.72% p.a. (as of August 2021).

36 FDR* + 1.00% p.a. 1.60% p.a. (36 FDR* + 1.00% p.a. for Year 4 and thereafter)
Lock-in period2 years6 months2 years2 years3 years
Minimum loan$100,000$100,000$100,000$100,000$100,000
Partial repayment fee1.50% of the amount repaid (min. $10,000)1.50% of the amount repaid (min. $10,000)1.50% of the amount repaid (min. $10,000)1.50% of the amount repaid (min. $10,000)1.50% of the amount repaid (min. $10,000)
Cancellation fee1.50% of undisbursed loan amount1.50% of undisbursed loan amount1.50% of undisbursed loan amount1.50% of undisbursed loan amount1.50% of undisbursed loan amount

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Standard Chartered Home Loans Refinancing

When should you refinance or reprice your home loan?


The best time to consider refinancing or repricing your home loan is when your existing home loan is nearing the end of its minimum lock-in period. If your mortgage charges you more than 1.30% interest, you’re likely to save by switching to a more competitive package.


So is refinancing or repricing better for you? This depends on how much you’re currently paying for your housing loan. 


Repricing is less troublesome as it involves switching to a new home loan package offered by the same bank that you’re currently financing your home with. This may incur a repricing fee of about $1,000, but it is relatively straightforward.


However, if other banks are offering much lower interest rates that your bank can’t match, refinancing your housing loan with another bank may help reduce your monthly repayment amount. This does incur legal fees and can cost $2,000 or more, unless the new bank is willing to subsidise your fees.


Most of Standard Chartered’s current home loans refinancing rates range from 1.34% to 1.60 p.a., with the highest at 1.72%. So refinancing your housing loan with Standard Chartered may help you reduce your monthly repayment amount by switching to a lower interest rate. Find out more about these rates and how you can go about refinancing your home loan at our Standard Chartered Home Loans Refinancing page.

How To Apply For Your Standard Chartered Home Loan

As a new home buyer or someone who is looking to refinance a home loan, the first few steps can be quite tedious at times. That’s why we’re here to make it a more hassle-free and pleasant experience for you.

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Standard Chartered Home Loan Application Process and Fees

Here are 5 steps to the Standard Chartered Home Loan application process

Step 1

Have your documents ready

Don’t worry if you’re uncertain of what to do at the beginning, get in touch with our mortgage team and we’ll guide you through the process.

Firstly, we’ll liaise with Standard Chartered’s mortgage specialists team on your behalf and recommend a list of their packages which are most suited to your needs, depending on your loan-to-value (LTV) ratio.

The documents required for application include:

  • Standard Chartered mortgage loan application form
  • NRIC and Singpass information
  • Option to Purchase
  • Proof of income (CPF contribution history up to the last 12 months, latest Income Tax Notice of Assessment, latest computerised payslip)
  • Latest available statement for all existing credit facilities
  • HDB flat information and financial information value confirmed by HDB / Private property information

Step 2

Receive your Letter of Offer

After you’ve picked your preferred Standard Chartered housing loan, your application will be processed by our mortgage specialist team.

Then, you’ll sign the Letter of Offer, OTP and other related documents, and your home loan approval will be done at this stage. You’ll also need to pick an agreed time with the seller to submit the resale application (if you’re getting a resale flat or private property).

Step 3

Fees and charges payable to various parties

An Option fee will be required to be paid to the seller once you’ve signed the Letter of Offer (or pay both the Option fee and Option Exercise fee to the seller, as well as the relevant buyer’s stamp duties fee, if you’re getting a private property).

Note that cancellation of the loan after signing the Letter of Offer will incur extra costs as you’re required to pay 1.50% of the undisbursed loan amount.

Step 4

Fix your appointment dates

You’ll be informed by our mortgage specialist team and HDB (if you’re purchasing a HDB flat) of your property purchase completion appointment date.

For private property homeowners, your/Standard Chartered’s lawyer will inform you to pay the remaining downpayment in cash or CPF if you have not done so and schedule a date to sign mortgage documents at the lawyer’s office.

Step 5

Complete your new home or resale purchase

It’s finally time to sign all the legal documents for the transfer of property, and paying of legal fees, valuation fees (if applicable). And you’re ready to collect the keys from the seller!

Standard Chartered will also send you the bank letter stating your loan disbursement and monthly instalment amount.

Why Get Your Standard Chartered Home Loan Through Us?

Simple, fast, convenient

Leave your home loan research to us and we’ll break it down for you in simple terms. Our Mortgage Specialist will contact you directly so you can save time for other important things in life.

Get better deals

Feeling so spoilt for choice you can't decide? Settling for the first option is like being forced to marry the first person you come across on a dating app. Don’t feel pressured. We compare across all housing loan packages offered by Standard Chartered, as well as different banks in Singapore. By doing so, we ensure that you get only the best Standard Chartered mortgage rates.

It's free!

Our service to you is free. But, of course we’re not doing this for charity! All banks pay us a standard referral fee for our services and our awesome job done. We don’t take sides or give biased advice.

Vouchers

Get up to S$640 worth of vouchers when you apply for a home loan through us.

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Receive up to $640 worth of vouchers when you apply for a home loan with us!

Learn More

Standard Chartered Home Loan Singapore Review 2019 – Which Mortgage to Choose from Standard Chartered

Best Home Loans in Singapore (2020) — How to Pick the Best Mortgage for Your Property

How to Refinance Your Home Loan in Singapore & Save Money on Your Mortgage

Frequently Asked Questions

What is Standard Chartered’s 36M FDR rate?

36M FDR is Standard Chartered’s board rate that is a 36-month S$ Fixed Deposit (FDR) rate, which currently stands at 0.72% and is subject to changes anytime. It’s an alternative to other interest rate benchmarks like Singapore Interbank Offered Rate (SIBOR) or Singapore Overnight Rate Average (SORA).

What are Standard Chartered’s 9M FDR and 48M FDR?

9M FDR is Standard Chartered’s 9-month S$ Fixed Deposit Rate (FDR) rate which is at 0.80% + loan margin, while 48M FDR is the average of Standard Chartered’s 48-month S$ Fixed Deposit Rate (FDR) board interest rates, which is at 1.15% + loan margin. The loan margin is known as the bank’s “spread” and is subject to revision by Standard Chartered anytime.

Should I reprice my home loan instead of refinancing it?

With Standard Chartered, repricing lets you enjoy the new loan package within a month (if you’re an existing Standard Chartered home loan customer), while refinancing takes about 3 months. This means repricing allows you to enjoy interest savings earlier than refinancing.

Are there fees involved in repricing or refinancing my loan?

Repricing may include a repricing admin fee of about $1,000, which is lower than all the fees involved in refinancing (which can total up to more than $2,000 for legal and valuation fees).

How is my Loan-to-value (LTV) ratio calculated?

Loan-to-Value (LTV) is the amount of money you may borrow as a percentage of the current market valuation or adjusted purchase price of the property (whichever is lower). Your LTV may be up to 75% if you do not have any outstanding loan for the purchase of another residential property, subject to regulatory requirements and Standard Chartered's prevailing credit policy.

Can I use my CPF to make a partial payment of my housing loan?

Yes, you may redeem your loan in part using CPF via the CPF website or the CPF branch office, without giving a 1-month notice.