Yen Kai's Idea Cast

Rates from smartloans.sg. Rates are based on the prevalent SOR/Sibor.

Note: Floating2 denotes the runner up best floating rate

Assumption: Loan amount of $500000 for completed private property. Ranked by the following criteria:

1. Lock-in of 1 to 3 years
2. For 2 or 3 years lock-in fixed rate loans, the average rate is used for ranking.

The rationale for the above is that, nobody actually stays in the same loan package for the entire loan period (typically 30 years). Anyone who is interested in saving money will usually do a refinancing every 2 or 3 years. Even the banks themselves are wary of setting the loan rates for anything more than 3 years (when they do, the rates are very high). Hence, it makes sense to evaluate a loan package based only on the rates for the first 2 or 3 years.