The Association of Banks in Singapore (ABS) defines that the Singapore Interbank Offered Rates ( SIBOR) is the rate at which an individual Contributor Bank could borrow funds, were it to do so by asking for and then accepting the interbank offers in reasonable market size, just prior to 11:00 a.m. Singapore time.

The ABS also defines that the Swap Offer Rates (SOR) is the synthetic rate for deposits in Singapore Dollars (SGD), which represents the effective cost of borrowing the Singapore Dollars synthetically by borrowing US Dollars (USD) for the same maturity, and swap out the US Dollars in return for the Singapore Dollars.

Latest SIBOR Rates and SOR rates on 27th October 2017


The SIBOR panel of banks are:

  • Australia & New Zealand Banking Group Limited
  • The Bank of Tokyo-Mitsubishi UFJ
  • Bank of China Limited
  • Barclays Bank PLC
  • Bank of America, National Association
  • BNP Paribas
  • CIMB Bank Berhad
  • Citibank N.A
  • Credit Suisse AG
  • DBS Bank Ltd
  • Deutsche Bank Aktiengesellschaft
  • The Hong Kong and Shanghai Banking Corporation Limited
  • JP Morgan Chase Bank NA
  • Mizuho Bank Limited
  • Malayan Banking Berhad
  • Oversea-Chinese Banking Corporation Limited
  • Standard Chartered Bank
  • Sumitomo Mitsui Banking Corporation
  • United Overseas Bank Limited
  • UBS AG

Why Understanding SIBOR and SOB Rates Are Important?


Home loan in Singapore are typically pegged to either 1 month or 3 months SIBOR (and sometimes on SOR).

Here is an example:


A typical Singapore housing loan can be priced at 1 month SIBOR +0.70%, which means 0.70% is the spread, which is also the bank’s profit margin on the mortgage.

Understanding the current SIBOR interest rate as well as the SIBOR trend will help you to make a more informed choice when refinancing home loan, taking up a new home loan or its for your commercial property loan in Singapore.

Although floating rate packages such as one that is pegged to SIBOR could be a cheaper source of funding when compared to a fixed rate package, it may also potentially increase overtime should the bank’s cost of funding goes up.

The update SIBOR rates will be published on the ABS website 7 days after and will be updated around 1130am (Singapore time) each business rate.

If you would like to find out more about the latest and most updated home loan interest rates, kindly contact us and our mortgage broker will contact you in the fastest possible time.