Hi
@dr3amerzz ,
Let me pull out the previous post...
For SORA (which is the Singapore Overnight Rate Average) is the volume-weighted average rate of actual borrowing transactions in the unsecured overnight interbank SGD cash market in Singapore. It is administered by the Monetary Authority of Singapore (MAS), and published at 9am on the next business day in Singapore.
Hence SORA has been administered and published daily by the MAS.
As for FHR6 refers to the prevailing 6 months Singapore Dollar fixed deposit interest rate for amounts S$1,000 to S$9,999 or such other sum as we may specify. FHR6 is currently 0.200% p.a.
This is known as a bank internal rate. The bank can change the rates anytime by giving you one month notice. Hence it is control by Bank.
So to your questions, it will be which one do you trust?
For me I will be going with SORA rather than FHR6. I find that banks are not charity. They are a business company. When they need profits, they will know where they can tap on it.
Based on my understanding DBS did revised their FHR package upward from 2015~2019(When interest rate is going upward)..
Let me pm you the track records for some FHR package..