A post shared by one of our members on Seedly Personal Finance Community opened up a discussion regarding yet another interest rate hike at the end of this year. With the second interest rate increase of 1.25% implemented this year, many people are not sure what this means for everyday Singaporeans.

Increase in interest rate over 2 years

What some of you may not know is that interest rates have a larger impact on our lives than we think! Here’s how it affects us:

Home Loans Increase

This affects 90.8% of Singaporeans, with home loans being one of the highest forms of loans on the population that owns a property. Household owners taking up …