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Foreign banks in Singapore slash home loan rates to as low as 2.45%

BOC, Stanchart, Maybank offer rates of 2.45 to 2.5 per cent; fixed mortgage rates were around 3% at the start of this year, and up to 4.25% at the start of 2023

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Ry-Anne Lim

Ry-Anne Lim

Published Tue, Nov 5, 2024 · 05:00 AM
    • Market watchers emphasise that lower home loan rates, while important, may not be the defining factor to push many Singapore homebuyers towards a purchase. 
    • Market watchers emphasise that lower home loan rates, while important, may not be the defining factor to push many Singapore homebuyers towards a purchase.  PHOTO: BT FILE

    SINGAPORE’S mortgage rates have eased since the start of the year, with some foreign banks shaving rates by around 50 basis points to 2.5 per cent from the 3 per cent offered earlier.  

    Based on data consolidated on mortgage broker Redbrick Mortgage Advisory’s platform as at Nov 4, banks in Singapore offered home loans with fixed interest rates ranging from 2.45 per cent up to 3.5 per cent. 

    Fixed mortgage rates were around 3 per cent at the start of this year, and much higher – up to 4.25 per cent – at the start of 2023, according to boutique mortgage consultancy firm MortgageWise.sg.

    BanksSingapore mortgagesMortgagesInterest rates

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