post deleted as I just realised a similar thread was started by bro minority here :
http://forums.condosingapore.com/showthread.php?t=19903
post deleted as I just realised a similar thread was started by bro minority here :
http://forums.condosingapore.com/showthread.php?t=19903
the 5 year swap rate at the moment is 1.72% , so this deal is like sor + .16% which is very very good indeed , I cant see how they make money at this rate unless there is a bunch of fees added on
do you know how much the banks pay for your current account ?
your savings acc ? or even FD 1yr ?
local banks are flushed with deposits...
at one pt they were very aggressive in giving housing loans ... but MAS kind of warn them about too big a portfolio in housing loan ... so they started to raise the rates a little
but they have to find ways to match off those deposits ... so they wont die ... and can continue to make a lot of money