What are the current interest rates

As of the latest updates, here are the current interest rates for home loans in Singapore:

HDB Concessionary Loans

• The interest rate for HDB concessionary loans is fixed at 2.6%, which is 0.1% above the prevailing CPF Ordinary Account interest rate.

Bank Loans

• Interest rates for bank loans have eased recently. Some foreign banks are offering fixed interest rates as low as 2.45%, with the Bank of China offering a 2.45% rate with a three-year lock-in period.
• Local banks such as DBS, OCBC, and UOB are offering fixed home loans starting from rates of 2.55% to 2.6%.
• Standard Chartered and Maybank have packages at 2.5%.
• Floating rates, which can fluctuate, are also available and are influenced by market conditions such as the SORA (Singapore Overnight Rate Average) rates.

It is advisable to check with mortgage consultants or lenders for the most up-to-date rates, as these can change frequently based on market conditions and central bank policies. You can also use online comparison tools available on platforms like EdgeProp Singapore to find the most advantageous rates for your specific needs.