With interest rates dropping, bank savings rate is NOT going to rise. Singapore Savings bond rates have in fact dropped. But what's good? Mortgage rates have dropped too!

Latest Sibor rates 21April2020

Latest 3M Sibor as of 21April2020 is 0.98859% only! This is like half of what it was in July2019 when interest rates where climbing... Source With such a plunge, it absolutely makes sense to "refinance" or "re-price" your mortgage. Before that, "refinancing" means you find a new bank to loan you. There are costs in valuation (around $500) and cost in conveyancing legal fees (around $2,500). "Re-pricing" on the other hand is sticking with the same bank BUT with a new mortgage package. NO fees are involved.

Description of some of the latest packages I've seen

This portion is from a recent private client of mine and the numbers are purely for education purpose. Mortgage packages can change and new offers come onto the market all...