At a Glance

Do you have a property loan that references to 3 months Singapore Dollar Swap Offer Rate (SOR)? Find out more about how we can assist you in switching out of your SOR based property loan.

Discontinuation of SOR benchmark

With the cessation of USD London Interbank Offered Rate (LIBOR), SOR will no longer be available after 30 June 2023.

SORA Conversion Package

All SOR based property loan will be switched to SORA Conversion Package in Oct 2022.

Contact us early to explore your options

Choose an alternative reference rate for your loan. You could switch to SORA Conversion Package, or any prevailing packages offered by us.


SORA, the new benchmark

SORA, (Singapore Overnight Rate Average) has been recommended as the alternative interest rate benchmark to SOR by the Association of Banks in Singapore (ABS) and the Singapore Foreign Exchange Market Committee.

Click here for more information on the global interest rate benchmark reform.

What is SORA?

A robust and transparent interest rate benchmark that has been published by the Monetary Authority of Singapore (MAS) since 2005.

SORA is determined based on the volume-weighted average rate of borrowing transactions in the unsecured overnight interbank Singapore dollar cash market in Singapore between 8.00am and 6.15pm. The daily SORA rate is published on the MAS website.


SORA Conversion Package

You will need to choose a new benchmark by September 2022, otherwise your SOR-based loan will be automatically switched to a SORA Conversion Package as part of an industry-wide exercise in October 2022.

Specially designed for SOR customers, you could switch to the SORA Conversion Package at no additional fee and lock-in period.

 The interest rate for the SORA Conversion Package includes three components:

  • Your existing SOR loan spread;
  • 3M Compounded SORA as at the first business day of the loan acceptance month; and
  • Adjustment Spread as at the first business day of the loan acceptance month to SORA Conversion Package. The Adjustment Spread is the average difference between 3M SOR and 3M Compounded SORA over the preceding three months, published on The Association of Banks in Singapore’s website on the first business day of each month.

An Adjustment Spread is necessary when converting a SOR loan to a SORA reference because there are fundamental differences between SOR and SORA. For more information, please refer to FAQ.


(Existing SOR loan)
(SORA Conversion Package)
Reference rate 3-month SOR 3-month Compounded SORA
Customer spread Your existing SOR loan spread Your existing SOR loan spread + relevant Adjustment Spread (Retail)

If you wish to submit an application to switch your SOR package to SORA Conversion Package, click here and select “SORA Conversion Package”. Our relationship officer will be in touch with you.

Note: Adjustment Spread refers to Adjustment Spread (Retail)


Other Packages

Besides the SORA Conversion Package, you can explore alternative packages which we currently offer, ranging from fixed rate to floating rate packages.

Financing for residential properties:

Click here to find out more about our prevailing packages.

Financing for commercial properties:

3M Compounded SORA + 1.20% p.a.
Year 1 to Year 2 3M SORA + 1.20% p.a.
Year 3 and thereafter 3M SORA + 3.00% p.a.
Commitment Period 2-Year Lock-in
Minimum loan amount $200,000

3M SORA (3-Month Compounded Singapore Overnight Rate Average) refers to the SORA volume-weighted average rate compounded for 3 months period administered by MAS, published by MAS on or about 9:00 a.m, Singapore time, on the first business day of the relevant month or on such other date as we may determine.

If you wish to submit a repricing application to switch out of your SOR package, click here.



For more information, please click here.

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