Loan Repricing

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Thank you for your interest to reprice your mortgage loan with us. Due to the high volume of requests, our mortgage representative will be in touch with you on the pricing packages and documents required within 5 working days. Thank you for your kind understanding.

	Variable / Floating Rate Loan	FIXED RATE LOAN
	3-month Compounded SORA*	2 years Fixed Rate*
Year 1	3-month Compounded SORA+1.00% p.a.	3.45%
Year 2	3-month Compounded SORA+1.00% p.a.	3.45%
Year 3	3-month Compounded SORA+1.00% p.a.	3-month Compounded SORA+1.00% p.a.
Year 4	3-month Compounded SORA+1.00% p.a.	3-month Compounded SORA+1.00% p.a.
Thereafter	3-month Compounded SORA+1.00% p.a.	3-month Compounded SORA+1.00% p.a.
Lock-in Period	2 years	2 years
Minimum Loan Amount	S$100,000	S$100,000

*Please note that:

The interest rate packages stated in the table above are valid from 1 November 2024 (inclusive of this date) and is applicable for residential property loan only. Standard Chartered Bank (Singapore) Limited (the “Bank”) may vary, modify, add, delete or otherwise revise the interest rate package stated above at any time at the Bank’s sole discretion, without prior notice of reason (and the Bank shall not be obliged to disclose its reason). The interest rate packages stated in the table above are not to be taken as an offer to contract. To the fullest extent permitted by law, the Bank shall not be responsible and/or liable for any loss, cost, expense and/or damage, whether direct or indirect, which arises out of and/or is incurred in connection with, the use of and/or reliance on the information provided herein.

The Bank reserves the right to determine at its sole and absolute discretion all matters arising out of and/or in connection with the repricing application. The Bank’s determination of all matters relating to the repricing application shall be final, binding and conclusive and no correspondence will be entertained.

The repricing application is subject to the Bank’s approval and acceptance. The final approval of your repricing application is also subject to the Bank’s receipt and validation of all required documents.

Fees and Charges
Repricing Fee	Administrative fee of S$1000
Late payment fee	S$50 for SGD loans
Default rate	5% above SGD Prime lending rate* on the overdue instalment amount for SGD loans

*Prime lending rate is a minimum indicative interest rate charged by the bank, and is usually used as a benchmark for loans.

Refer to our pricing guide for the full list of fees and charges.

All information is accurate as at the date of publication.

What to expect?

Our Mortgage Retention Officer will contact you within 5 business days.

You may be required to submit some documents for processing of your repricing application. This may include the following documents:

Copy of your NRIC (front and back)
Copy of IRAS “My Property Portfolio Page”

Our Mortgage Retention Officer will advise you further on the required documents for your repricing application.

Interest Rate

Interest Rate is the rate of interest that is charged on the loan. It can be fixed, variable, or a combination of both over the loan period

Fixed Rate Loan

A fixed rate loan charges the same rate of interest throughout the duration of the loan.

Variable Rate / Floating Rate Loan

Our variable rate loan is currently benchmarked against SORA.

Loan Amount

Loan amount is the total amount the borrower agrees to repay the Bank, in accordance to the terms and conditions of the loan agreement.

Lock-in Period

Lock-in Period refers to a predetermined number of years that the borrower is penalised for if he/she changes the terms of the contract (either by cancellation, prepayment or conversion). As every loan package has different terms and conditions, it is advisable to consult the Bank before making changes.

Repricing

Repricing serves the same purpose as refinancing. However, instead of going to a different bank, you go to the same bank you took the home loan to request for a reduction in rates.

Singapore Interbank Offer Rate (SIBOR)

Singapore Interbank Offer Rate (SIBOR) refers to the rate that financial institutions in Singapore lend / borrow unsecured funds to / from each other. Your loan can be based on the 1-month or 3-month SIBOR. If your loan is based on the 3-month SIBOR, your interest rate will be 3-month SIBOR plus a margin for the Bank and repriced every 3 months. This rate is transparent and can be found on the Association of Banks in Singapore website.

Singapore Overnight Rate Average (SORA)

The Singapore Overnight Rate Average (SORA) is the volume-weighted average rate of borrowing transactions in the unsecured overnight interbank SGD cash market in Singapore between 8am and 6.15pm.
Your loan can be based on the 3-month Compounded SORA. If your loan is based on the 3-month Compounded SORA, your interest rate will be 3-month Compounded SORA plus a margin for the Bank and repriced every 3 months. This rate is transparent and can be found on the Monetary Authority of Singapore website.

How can we help you today?

What kind of loan are you looking for?

Enjoy lower interest rates for your mortgage loan because we value your relationship with us.

Glossary

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