OCBC launches first SORA-based home loan
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OCBC has launched Singapore's first home loan referencing the Singapore Overnight Rate Average (SORA), an alternative benchmark rate, available to buyers of completed private properties with a minimum loan size of S$1 million.
This is another step in the industry's move towards adopting the SORA - the average rate of unsecured overnight interbank Singdollar (SGD) transactions brokered in Singapore - as the new interest rate benchmark for the SGD cash and derivatives market.
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