Singapore Sibor Rate

 

Singapore SIBOR Rate

What is SIBOR?

SIBOR is the acronym for Singapore InterBank Offer Rate. In layman terms, it simply represents the interest rate that Singapore banks charge to lend to each other. SIBOR is regularly used as a reference rate where loans are pegged to. SIBOR is set daily (working days) by the Association of Banks in Singapore and is publicly available on Association of Banks in Singapore website. In general the shorter the time period SIBOR is based on, the lower and more volatile the interest rate. The 3 Month SIBOR rate is currently around 2.00% while the 1 Month SIBOR rate is around 1.88% with rates accurate as of Jul 2019.

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What about Fixed Deposit Linked Rates, Board Rates, SOR, Combo, etc?

Fixed Deposit Linked rates are reference rates that are based on a bank's fixed deposit rates while Board Rates are rates determined internally by banks based on their own benchmark rates. SOR is the acronym for Swap Offer Rate and is basically the interest rate a borrower will be charged if he or she were to borrow in US dollars while Combo Rate is a combination of SIBOR and SOR.

All of the mentioned rates are reference rates where loans are priced in but SIBOR remains the most popular reference rate for loans to be priced in due to its transparency. Hence, any movement in SIBOR rates is closely monitored as it could affect repayment of loans and also financial markets. It is also worth noting that all these reference rates usually move in tandem with each other in the same direction. See SIBOR vs Fixed Deposit Linked Rates vs Board Rates vs SOR vs Combo for a more detailed discussion about how to choose the best reference rate for loan packages.

3 Month SIBOR Rate History Chart

3 Month SIBOR Rate History Chart

3 Month SIBOR Rate Historical Data for Past Year

Aug 18 Sep 18 Oct 18 Nov 18 Dec 18 Jan 19
1.63% 1.64% 1.64% 1.64% 1.77% 1.89%
Feb 19 Mar 19 Apr 19 May 19 Jun 19 Jul 19
1.89% 1.95% 1.94% 1.94% 2.01% 2.00%

1 Month SIBOR Rate History Chart

1 Month SIBOR Rate History Chart

1 Month SIBOR Rate Historical Data for Past Year

Aug 18 Sep 18 Oct 18 Nov 18 Dec 18 Jan 19
1.51% 1.51% 1.52% 1.52% 1.64% 1.77%
Feb 19 Mar 19 Apr 19 May 19 Jun 19 Jul 19
1.77% 1.82% 1.82% 1.82% 1.89% 1.88%

Future Direction of SIBOR?

Both chart and data for 3 month and 1 month SIBOR indicates that we have most likely seen a bottom in SIBOR rates in between 2011 and 2014. Borrowers who fear a spike in SIBOR rates or interest rates in general should try to remain prudent and look for fixed interest rate loans to prevent a huge rise in mortgage payments in the event of periods of high interest rates. With interest rates edging closer to normal rates of between 2% to 3% in recent months, it is very likely that we won't return to a low interest period anytime soon and it will be most prudent for borrowers to take into account of higher interest rates when taking a loan so as not to overstretch themselves.

 

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Topic: Singapore SIBOR Rates
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Jianwei
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Oct 2017
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Jianwei says...

Thank you for the info for 1 month SIBOR. Looks like it is just a mirrored image of the 3 month SIBOR but with lower rates.

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Jianwei
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Oct 2017
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Jianwei says...

Good article but nowadays more loans seemed to be pegged more against 1 month Sibor instead. Although it is similar to 3 month Sibor, it will be good if you can also show some historical statistics for 1 month Sibor.

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Money Lobang
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Sep 2014
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Money Lobang says...

Thank you for your suggestion. We will be adding historical data for 1 month SIBOR rate to this page in the near future. Do keep a lookout for it.

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Money Lobang
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Money Lobang says...

The 1 Month historical SIBOR rates are up

 

 

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