Monday, May 11, 2009

Stanchart offers 1.5% fixed mortgage interest rate

(SINGAPORE) Standard Chartered Bank has introduced a mortgage package at a fixed rate of 1.5 per cent per annum for the first year for any new mortgage taken up with the bank from May 10 to June 15, 2009.

For the second year onwards, customers pay a rate of three-month Sibor plus 1.35 per cent per annum.

Dennis Khoo, general manager of retail banking products, said: 'Our customers have been the heartbeat of Standard Chartered over the last 150 years in Singapore. To thank our customers, we are offering exceptional value in the form of a fixed first-year mortgage loan at 1.5 per cent until 15 June 2009. This allows our customers to lock-in best-in-value and low rates for the next year. With this offer, they can enjoy more flexibility in their finances to be more agile and responsive to market changes.'

Mr Khoo added that Standard Chartered has become the largest qualifying full bank (QFB) in the Singapore mortgage market over the years.

This package is offered in conjunction with the bank's 150th anniversary in Singapore this year.
In addition, Priority Banking customers who hold the Standard Chartered Visa Infinite Card and take up the fixed rate package will get bonus points of 100,000 air miles.

Source: Business Times, 11 May 2009

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