SIBOR repricing

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Proceed

Thank you for your interest to reprice your mortgage loan with us. Due to the high volume of requests, please expect our mortgage representative to be in touch with you within 5 working days. Thank you for your kind understanding.

The Singapore Interbank Offer Rate will be discontinued by 2024, and you will need to switch to an alternative reference rate. We encourage you to do so as early as possible, to ensure that you have enough time to select the package that best suits your needs. You may do so by repricing your loan at no additional cost.

You may have received an electronic direct mailer from the Bank with the applicable pricing packages. Should you be interested, you may select from the pop-up form on this page and submit your application.

*Please note that:

Standard Chartered Bank (Singapore) Limited (the “Bank”) reserves the right to vary the interest rate, the basis for calculating the interest rate (including any base lending rate or other reference rate) and the margin at any time at our absolute discretion. If we vary the interest rate, we will do so by giving you at least 30 days’ notice before the variation takes effect and notifying you of the effective date of the revised interest rate. The interest rate packages stated in the table above are not to be taken as an offer to contract.

The repricing of your existing housing loan will follow the existing structure of your loan. For example, if your loan currently has a MortgageOne feature, your loan will be repriced with the MortgageOne feature. Should you have more than 1 SIBOR-based loan under your name, all loans will be repriced together.

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.

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.

Glossary

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.

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What kind of loan are you looking for?

Reprice your SIBOR based loan with us today

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