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DBS, OCBC, UOB aim to stay competitive as foreign players slash mortgage rates

Foreign banks in Singapore have slashed their home loan rates to as low as 2.45%, lower than that offered by the local banks

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Tan Nai Lun

Tan Nai Lun

Published Mon, Nov 11, 2024 · 05:00 AM
    • At their respective third-quarter results briefings, management of the local three banks have said they will look at the market and adjust accordingly, but did not explicitly mention plans to cut rates.
    • At their respective third-quarter results briefings, management of the local three banks have said they will look at the market and adjust accordingly, but did not explicitly mention plans to cut rates. PHOTO: CHERYL ONG, BT

    SINGAPORE’S local banking trio will continue to watch interest rate movements to ensure that their mortgage rates stay competitive.

    At their respective third-quarter results briefings, management of DBS, UOB and OCBC said they will look at the market and adjust accordingly, but did not explicitly mention plans to cut rates.

    This comes as foreign banks in Singapore have slashed their home loan rates to as low as 2.45 per cent, lower than that offered by the local banks.

    Singapore banksSingapore mortgagesDBSOCBCUOBInterest rates

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