SSB rate at new low; savings, FD, mortgage rates also slide

Singapore

FALLING interest rates have cascaded down to both deposit and lending products - from Singapore Savings Bonds (SSB), fixed deposits (FD) and home loans to savings deposits.

The latest issue of SSB opened on Monday with the lowest rates the fixed income instrument has ever offered since its launch in 2015. The June edition offers an interest rate of 0.57 per cent for the first year and an average rate of 1.05 per cent per annum over the 10-year holding period.