What’s SORA now, and what does it do to my home loan? MAS’s latest SORA and 1M, 3M and 6M compounded SORA, how much they moved, every rate since 2005, and your instalment at SORA plus your spread.
📅 MAS’s figures of Mon 2 Nov 2026: SORA for Fri 30 Oct 2026, and the compounded SORA as at 2 Nov 2026. MAS publishes them at 9am each business day.
Repricing, refinancing or just checking? Type what’s left on the loan and your spread, and see the monthly instalment at today’s SORA, at a year ago’s and at HDB’s rate. 🔒 Worked out in your browser: nothing typed leaves the page.
For example: S$500,000 left over 25 years at 3M SORA + 0.3% (a made-up spread)
Monthly instalment nowS$2,022.55S$500,000 over 25 years at 1.597% a year: 3M SORA + 0.3%
At
Rate
A month
Interest in all
Now: 3M SORA 1.2970% (2 Nov 2026) + 0.3%
1.597%
S$2,022.55
S$106,765
A year ago: 3M SORA 1.3297% (31 Oct 2025) + 0.3%
1.6297%
S$2,030.29+S$7.75 a month
S$109,088
HDB’s concessionary rate (1 Oct to 31 Dec 2026)
2.6%
S$2,268.35+S$245.80 a month
S$180,504
The rate moves with 3-month compounded SORA: a SORA loan is usually repriced every 3 months, at the 3M SORA MAS published at the start of the period, so each instalment is known before it’s due. Every 0.25%-point 3M SORA moves changes this one by about S$59.68 a month.
That’s S$7.75 a month less than at a year ago’s 3M SORA, with the same spread.
The interest in all takes each rate for every month left, with interest each month on what’s still owed. A floating rate won’t stay put, so it’s a yardstick, not a forecast.
HDB’s concessionary rate is 2.6% (1 Oct to 31 Dec 2026), 0.1%-point above CPF’s Ordinary Account rate, for HDB loans only. A bank loan on an HDB flat can be repriced or refinanced with another bank, but never moved to an HDB loan. How much HDB or a bank would lend.
Repricing or refinancing in a lock-in usually costs a penalty, and leaving within a clawback period means paying back the subsidies: see below, and your letter of offer.
History
The last 10 business days
Published
SORA
1M
3M
6M
SORA Index
Mon 2 Nov 2026SORA for 30 Oct
1.5526%
1.3494%
1.2970%
1.2209%
1.126002
Fri 30 Oct 2026SORA for 29 Oct
1.5070%
1.3290%
1.2748%
1.2170%
1.125858
Thu 29 Oct 2026SORA for 28 Oct
1.0571%
1.3253%
1.2683%
1.2159%
1.125812
Wed 28 Oct 2026SORA for 27 Oct
1.0519%
1.3367%
1.2671%
1.2171%
1.125779
Tue 27 Oct 2026SORA for 26 Oct
1.2834%
1.3515%
1.2671%
1.2177%
1.125747
Mon 26 Oct 2026SORA for 23 Oct
1.5166%
1.3587%
1.2660%
1.2162%
1.125707
Fri 23 Oct 2026SORA for 22 Oct
1.5161%
1.3433%
1.2568%
1.2078%
1.125567
Thu 22 Oct 2026SORA for 21 Oct
1.5224%
1.3325%
1.2553%
1.2045%
1.125520
Wed 21 Oct 2026SORA for 20 Oct
1.4716%
1.3228%
1.2532%
1.2016%
1.125473
Tue 20 Oct 2026SORA for 19 Oct
1.3243%
1.3190%
1.2505%
1.1987%
1.125428
Month by month
Month
SORA average
1M
3M
6M
Oct 2026
1.3235%
1.3290%
1.2748%
1.2170%
Sep 2026
1.2386%
1.2519%
1.2312%
1.1579%
Aug 2026
1.2733%
1.2543%
1.1805%
1.1220%
Jul 2026
1.1646%
1.1883%
1.1528%
1.0875%
Jun 2026
1.0883%
1.0854%
1.0813%
1.0779%
May 2026
1.1501%
1.1967%
1.0645%
1.0944%
Apr 2026
1.0044%
0.9766%
1.0182%
1.0893%
Mar 2026
1.0194%
1.0327%
1.0697%
1.1324%
Feb 2026
1.0274%
1.0761%
1.1226%
1.1857%
Jan 2026
1.1307%
1.1312%
1.1559%
1.2484%
Dec 2025
1.1592%
1.1833%
1.1906%
1.3260%
Nov 2025
1.1142%
1.1488%
1.2496%
1.4329%
Oct 2025
1.1965%
1.2282%
1.3297%
1.5927%
Sep 2025
1.3325%
1.3611%
1.4571%
1.7627%
Aug 2025
1.3739%
1.4380%
1.5986%
1.9407%
Jul 2025
1.6145%
1.6055%
1.8495%
2.1105%
Jun 2025
1.7155%
1.7455%
2.0607%
2.3104%
May 2025
2.1794%
2.2006%
2.2795%
2.5201%
Apr 2025
2.2344%
2.2301%
2.3778%
2.6598%
Mar 2025
2.3953%
2.4144%
2.5618%
2.8404%
Feb 2025
2.4692%
2.5430%
2.7518%
3.0066%
Jan 2025
2.7644%
2.7613%
2.9182%
3.1615%
Dec 2024
2.9021%
2.9586%
3.0717%
3.2935%
Nov 2024
2.9794%
3.0218%
3.2322%
3.4158%
SORA’s average over the month’s business days; 1M, 3M and 6M compounded SORA as MAS published them on the month’s last business day.
SORA, the Singapore Overnight Rate Average, is what banks pay to borrow Singapore dollars from each other overnight without security: the volume-weighted average of the actual deals between 8am and 6.15pm each business day. MAS administers it and publishes it at 9am the next business day, with the SORA Index and the 1, 3 and 6-month compounded SORA.
Because it’s made from real deals, not banks’ quotes, it replaced SOR (which ended in June 2023) and SIBOR (which ended after 2024) as the benchmark for floating-rate loans. A SORA home loan’s rate is a compounded SORA plus a spread fixed in the letter of offer, often lower in the first years and higher “thereafter”.
Compounded in arrears and backward-looking
The overnight rate jumps about day to day, so loans use SORA compounded over a period: each day’s interest earns interest the next, with weekends and holidays at the rate of the business day before. There are two ways to line the period up with the loan’s:
Backward-looking: the rate for the next 3 months is the 3M compounded SORA MAS published at its start, over the 3 months just gone. You know your instalment before it’s due. Most home loans work this way, as 1M or 3M SORA plus a spread, repriced every 1 or 3 months.
Compounded in arrears: the rate for a period is SORA compounded over that same period, known only at its end (with a few days’ lag to pay). It follows the market exactly, so it’s used for business loans, bonds and swaps, rarely for homes.
MAS’s figures work out either: the compounded SORA between two dates is (SORA Index at the end ÷ SORA Index at the start − 1) × 365 ÷ the days between. 1M and 3M SORA follow the overnight rate with a lag; the longer the period, the smoother and the later.
Lock-ins and clawbacks
Lock-in: most bank packages have one, often the first 2 or 3 years. Repricing, refinancing or paying the loan off in it costs a penalty, a percentage of the amount repaid or the whole loan. Partial repayments may be allowed up to a limit.
Clawback: if the bank paid your legal or valuation fees, or gave cash back, leaving it within the clawback period (it can run past the lock-in) means paying them back.
Notice: banks want notice before you redeem the loan, so look at the dates early. The figures for all three are in your letter of offer.
Repricing or refinancing
Repricing: moving to another of your own bank’s packages. No new lawyers or valuation, sometimes an admin fee, and it’s quick. The new package can come with a new lock-in.
Refinancing: moving the loan to another bank. Legal and valuation fees (often paid by the new bank, with a clawback), a few months to arrange, and the old bank’s lock-in and clawback still count. CPF that went into the home stays in it.
MAS doesn’t apply the TDSR, or the MSR for an HDB flat or an EC, when you refinance the loan on a home you live in.
Either way, compare the instalment over the years you’ll keep the package, less any fees, penalties and clawbacks: the calculator above does the instalments.
SORA loan or HDB loan
HDB’s concessionary rate is 2.6% a year (1 Oct to 31 Dec 2026): 0.1%-point above CPF’s Ordinary Account rate, reviewed every quarter, and only for HDB’s own loans. It doesn’t follow SORA. A bank loan, fixed or pegged to SORA, can be cheaper or dearer than it; and a bank loan on an HDB flat can never be switched back to an HDB loan, so it’s a choice made once, when you buy.
Questions
What is 3M SORA today?
1.2970% a year: the 3-month compounded SORA MAS published on Mon 2 Nov 2026, up 0.06 percentage point on a month ago (1.2337% on 2 Oct 2026), and down 0.03 percentage point on a year ago (1.3297% on 31 Oct 2025). 1M compounded SORA is 1.3494% and 6M 1.2209%.
What is SORA today?
1.5526% a year, for Fri 30 Oct 2026, published by MAS at 9am on Mon 2 Nov 2026. It’s the overnight rate, so it jumps about from day to day: home loans follow the compounded SORA instead, which averages it over 1, 3 or 6 months.
How much is the instalment on a S$500,000 loan at 3M SORA plus 0.3%?
At today’s 3M SORA of 1.2970%, a 0.30% spread makes 1.597% a year: S$2,022.55 a month over 25 years, S$106,765 of interest in all if the rate stayed there. A year ago, at 1.3297%, it was S$2,030.29 a month. At HDB’s 2.6% it’s S$2,268.35. The spread is made up: yours is in your letter of offer.
What was the average SORA in 2025?
1.7799%, over its 252 business days, from 0.7261% (1 Sep 2025) to 3.1283% (28 Jan 2025). 3M compounded SORA ended the year at 1.1906%. Every day of 2025.
What’s the highest SORA has been?
4.3916%, on 30 Sep 2022; its lowest was 0.0054%, on 11 Aug 2011. 3M compounded SORA has run from 0.0362% (2 May 2012) to 3.7611% (6 Nov 2023). MAS’s figures go back to 1 Jul 2005.
What’s the difference between 1M and 3M SORA?
The length of the period SORA is compounded over. 1M SORA follows the overnight rate more closely and a loan on it is repriced every month; 3M SORA is smoother and moves later, repriced every 3 months. When rates are falling, 1M SORA tends to come down first, and when they’re rising, it goes up first. Over a whole loan neither is cheaper by design: compare the spreads.
Is SORA the same as SIBOR?
No. SIBOR was a rate banks quoted for lending to each other for 1, 3 or more months; SORA is an overnight rate made from actual deals, compounded to cover a period. Singapore moved from SIBOR and SOR to SORA from 2020, and SIBOR ended after 2024: loans on it were moved to SORA or another package.
Where do the numbers come from?
MAS’s own Domestic Interest Rates statistics: SORA, the SORA Index and the 1, 3 and 6-month compounded SORA for every business day since 1 July 2005. We fetch them every hour on our server, and the page is rebuilt when MAS has published a new day, so the date at the top is MAS’s latest. Every day in one file: SORA since 2005 (CSV). No bank’s packages or rates here: there’s no official list of them.
Is my loan sent anywhere?
No. The instalments are worked out in your browser, and nothing you type goes into the page’s address or anywhere else.
Is this advice?
No. It’s MAS’s figures and the arithmetic of an instalment. Whether to reprice, refinance or stay is yours to decide with your bank’s actual offer in hand.