Rude Shock – DBS increased Fixed Deposit Rates
By The Simplified Resource For Investing and Personal Finance  •  December 23, 2015
Woke up to a rude shock today....DBS bank has increased the fixed deposit rates! The US federal government increased their interest rates on 16 December 2015 and after 7 calendar days, DBS bank follows suit. Within 2 months of repricing my home loan at a repricing fee of $500, my home loan has increased.

Previous loan if i had carried on = 0.96%(1 month sibor) + 1% spread=1.96%
Current loan = 1.1% spread + 0.675%  average of 12 and 24 months ( in red box)= 1.775%
Total interest savings for first three years = $3700
Net savings after including repricing fee = $3200.

Comments
Still quite ok savings given that there is stability and i have no lock in for any of these 3 years, without the need to take a mortgage insurance.

Recently, DBS changed their FHR from the average of 12 and ......
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By The Simplified Resource For Investing and Personal Finance
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