OCBC

FOREIGN BANKS Some foreign lenders have also lowered their fixed deposit interest rates. "Given the recent market movements, we saw time deposit rates, especially those with longer tenors, to have fallen slightly compared to two months…

SINGAPORE: Rising interest rates have been attracting depositors to park their money in fixed deposits – not just in Singapore dollars but also foreign currencies. Take-up rates for foreign currency fixed deposits surged last year, with…

Last year, as central banks go on a rate-hike race to tighten monetary policy, banks have made rapid revisions to their borrowing rates. Mortgage rates, in particular, rose past the 4 per cent mark to levels unseen in recent years.…

FLOATING RATES DBS’ floating rates remained the same at a three-month compounded Singapore Overnight Rate Average (SORA) and a lending margin of 1 per cent per year. The three-month compounded SORA has risen from 0.1949 at the start of…

SINGAPORE: OCBC Bank will raise interest rates again for its flagship 360 savings account, following a similar move in August. Customers will be able to earn an interest of 4.65 per cent per year from Tuesday (Nov 1) on the first S$100,000…

These promotions, which are seeing rates being revised every month, come as global central banks go on a rate-hike race to combat soaring inflation. “As the concern on inflation is pressing, the speed of increase (in interest rates) has…

SINGAPORE: Singapore’s largest lender DBS Bank has temporarily removed fixed rate home loans from its website as of Friday (Sep 23). CNA understands that the local bank is currently reviewing its rates. The US Federal Reserve announced a…

SINGAPORE: Thinking of parking some money in a fixed deposit? Good news – as interest rates for both loans and savings accounts rise, fixed deposit rates are increasing too. Several banks in Singapore have rolled out promotions, with this…

MAS' MEASURES AGAINST INTERRUPTIONS Mr Tharman said that the Monetary Authority of Singapore (MAS) "takes seriously" all IT incidents that affect the availability of digital banking services. "It requires banks to be able to recover…

The lender also acknowledged that its customer service and response has fallen short of customers’ expectations, especially at a time of stress and anxiety. OCBC’s group chief executive officer Helen Wong said: “We strongly condemn this…