OCBC launches first SORA-based home loan

Singapore

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.