The illustration below is based on a 2 year fixed rate package.
The Singapore Overnight Rate Average (SORA) is the volume-weighted average rate of borrowing transactions in the unsecured overnight interbank SGD cash market in Singapore between 8.00 am and 6.15 pm.
The 1M Compounded SORA is published by MAS at 9:00 am on all business days in Singapore and is computed by compounding the published SORA rate over the historical 1-month period. Published by MAS since 5 August 2020.
The 1-month Compounded SORA rate applicable on a Saturday, Sunday and Public Holiday would be the last published 1-month Compounded SORA rate. (For example, if the rate review date falls on a weekend, the 1-month Compounded SORA rate applied for the next 1-month period would be the 1-month Compounded SORA rate published on the working Friday of that week.)
If the 1M Compounded SORA is less than zero, zero will be applied.