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.

Where can I find SORA rates and historical data?

The 3M Compounded SORA is published by MAS at 9:00 am on all business days in Singapore and is computed by compounding the published SORA rate over the historical 3-month period. Published by MAS since 5 August 2020. You may proceed to the MAS website via this link .

How is SORA computed/calculated?

On each business day in Singapore, reporting banks provide data on all eligible transactions traded and booked in the window between 8am and 6.15pm (both timings inclusive). MAS conducts thorough data validation checks and computes SORA by taking the volume-weighted average rate of all eligible transactions. SORA is then published on the MAS website the next business day at 9am.

Which type of properties are eligible for SORA package?

Only Private Residential and HDB flats (completed or BUC) are eligible for SORA package used for new purchase or refinancing.

How are SORA pricing and interest rates determined?

The pricing will be first determined on the first business day of the loan disbursement month. Thereafter, repricing of the 3M Compounded SORA will be done every three months, on the first business day of the month. Not to worry, we will notify you of any revisions made to your monthly instalments (if any) when it is due.

Can I change my existing loan interest rate package to SORA?

Yes, you may do so once your existing loan is out of the lock-in period. All repricing applications are subject to approval and repricing fee charges. You can request for repricing via Online Banking or our SC Mobile app under Help & Services.

Singapore Overnight Rate Average

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Enjoy the transparency you deserve when you choose the new market benchmark rate under SORA

3M Compounded SORA promotional pricing package:

	3M Compounded SORA*
Year 1	3M Compounded SORA + 1.00% p.a.
Year 2	3M Compounded SORA + 1.00% p.a.
Year 3	3M Compounded SORA + 1.00% p.a.
Thereafter	3M Compounded SORA + 1.00% p.a.
Lock-in Period	2 years
Minimum Loan Amount	S$100,000
3M Compounded SORA	The 3M Compounded SORA means the 3-Month Compounded Singapore Overnight Rate Average. The 3-Month Compounded Singapore Overnight Rate Average for a given business day is published by 9am on the next business day on the Monetary Authority of Singapore (“MAS”) website or on any other website which is designated by the MAS, as the case may be. For more information on the 3-Month Compounded Singapore Overnight Rate Average, please visit the MAS website.

*Please note that:

The interest rate package stated in the table above is valid from 27 February 2021 (inclusive of this date) and is applicable for residential property loans 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 and absolute discretion, without prior notice or reason (and the Bank shall not be obliged to disclose its reason). The interest rate package stated in the table above is 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 an application for a mortgage facility with the interest rate package stated above (“3M Compounded SORA Application”). The Bank’s determination of all matters relating to the 3M Compounded SORA Application shall be final, binding and conclusive and no correspondence will be entertained.

The 3M Compounded SORA Application is subject to the Bank’s approval and acceptance. The final approval of a 3M Compounded SORA Application is also subject to the Bank’s receipt and validation of all required documents.

All information is accurate as the date of publication.

What is 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.
Where can I find SORA rates and historical data?

The 3M Compounded SORA is published by MAS at 9:00 am on all business days in Singapore and is computed by compounding the published SORA rate over the historical 3-month period. Published by MAS since 5 August 2020.

You may proceed to the MAS website via this link.
How is SORA computed/calculated?

On each business day in Singapore, reporting banks provide data on all eligible transactions traded and booked in the window between 8am and 6.15pm (both timings inclusive).

MAS conducts thorough data validation checks and computes SORA by taking the volume-weighted average rate of all eligible transactions. SORA is then published on the MAS website the next business day at 9am.
Which type of properties are eligible for SORA package?

Only Private Residential and HDB flats (completed or BUC) are eligible for SORA package used for new purchase or refinancing.
How are SORA pricing and interest rates determined?

The pricing will be first determined on the first business day of the loan disbursement month. Thereafter, repricing of the 3M Compounded SORA will be done every three months, on the first business day of the month. Not to worry, we will notify you of any revisions made to your monthly instalments (if any) when it is due.

Can I change my existing loan interest rate package to SORA?

Yes, you may do so once your existing loan is out of the lock-in period. All repricing applications are subject to approval and repricing fee charges.

You can request for repricing via Online Banking or our SC Mobile app under Help & Services.

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.