The Business Times
business-time-50

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

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

    TRENDING NOW

    As demand for US bonds falls and yields rise, capital is typically drawn into the greenback, causing capital outflows from emerging market currencies.

    Why US$100 oil, 5% US yields affect Singdollar, ringgit differently vs other Asean currencies

    The need for multidisciplinary talent is becoming more pressing, with artificial intelligence now more widely used in the financial services industry.

    Singapore fintechs struggle to find finance and tech talent

    Asian investors continue to allocate capital to global markets, while maintaining significant exposure to US assets. 

    Despite the de-dollarisation debate, demand for dollar liquidity in Asia is growing

    Agmo CEO Tan Aik Keong’s unconventional rule is to “say yes first, then figure out how”.

    Why Tan Aik Keong of digital solutions specialist Agmo wants to make himself less indispensable

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More