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 1.80% similar to the 1 Month SIBOR rate which is around 1.77% with rates accurate as of Nov 2019.

Latest Promotions

Hotels.com Singapore Promo Codes
12% off Hotels.com for Mastercards with "USEMASTERCARD"
Singapore Credit Cards Promotion Expedia Coupon Discount Codes
15% off Expedia with HSBC cards with promo code "HSBCEXP15"

 

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

Dec 18 Jan 19 Feb 19 Mar 19 Apr 19 May 19
1.77% 1.89% 1.89% 1.95% 1.94% 1.94%
Jun 19 Jul 19 Aug 19 Sep 19 Oct 19 Nov 19
2.01% 2.00% 1.88% 1.88% 1.88% 1.80%

1 Month SIBOR Rate History Chart

1 Month SIBOR Rate History Chart

1 Month SIBOR Rate Historical Data for Past Year

Dec 18 Jan 19 Feb 19 Mar 19 Apr 19 May 19
1.64% 1.77% 1.77% 1.82% 1.82% 1.82%
Jun 19 Jul 19 Aug 19 Sep 19 Oct 19 Nov 19
1.89% 1.88% 1.88% 1.88% 1.87% 1.80%

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 hovering close to normal rates of 2% 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.

 

Add Review or Comment

* Required information
1000
Captcha Image

Reviews or Comments (3)

Ave. Rating:
5/5 (4)
Topic: Singapore SIBOR Rates
Sort By
 
Gravatar
New
Chan
Gravatar
1
0
0
Oct 2019
Chan says...

Seems for the last 3 months, the 1m and 3m sibor is getting very close (nearly similar in term of numbers). Wonder if there is any reasoning for that ?

Gravatar
Senior
Money Lobang
Gravatar
117
37
15
Sep 2014
Top Poster
Most Likes
Money Lobang says...

The 1m and 3m SIBOR reflects the borrowing rates among banks in Singapore with the same time frame.

Shorter term rates are usually lower than longer term rates as lenders get compensated with more returns for the longer term uncertainty.

However, there are cases such as now where shorter term rates rise and converge with longer term rates. This is usually due to perceived uncertainty in the short term lending environment which usually indicates more risk leading to higher interest rates for short term as compared to long term.

There are cases where short term interest rates can even rise above long term interest rates and this phenomenon is known as an "inverted yield curve" which usually is a recession-indicator but this is outside the scope of this article.

Hope this explanation helps!

Gravatar
New
Jianwei
Gravatar
2
0
0
Oct 2017
First Poster
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.

Gravatar
New
Jianwei
Gravatar
2
0
0
Oct 2017
First Poster
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.

Gravatar
Senior
Money Lobang
Gravatar
117
37
15
Sep 2014
Top Poster
Most Likes
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.

Gravatar
Senior
Money Lobang
Gravatar
117
37
15
Sep 2014
Top Poster
Most Likes
Money Lobang says...

The 1 Month historical SIBOR rates are up

 

 

Recommended Review

Citi Cash Back Card Review

Citi Cash Back Card Comprehensive ReviewFormally known as Citibank Dividend Card, the Citi Cash Back Card has long been touted by Citi as the best cash back card to the extent...


Discount Codes

Marriott Bonvoy Promo Codes

Marriott Bonvoy Promo CodesGet 1 Free Night + up to 20% at any Marriott Hotels with Best Rate Guarantee. Receive a 25% discount if you find a better rate elsewhere


All About Money

Singapore Savings Bonds

Singapore Savings BondsSingapore Savings Bonds (SSBs) are a type of specially-issued Singapore Government Securities...



sponsored links

Search & Social Media

money lobang facebook page money lobang twtter page money lobang instagram page money lobang youtube page money lobang pinterest page money lobang linkedin page

Subscribe to our Newsletter

Be the first to know about the latest promotions for bank deposits, credit cards and online discounts.