Home loan rates set to rise amid banks’ bid to attract deposits

As the banks raise rates to attract depositors, home loan rates will be playing catch-up. PHOTO: ST FILE
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SINGAPORE - The fight for depositors’ money is showing no signs of cooling down as banks raise savings and fixed deposit rates to stem the outflow of funds to other higher-yielding instruments like Treasury bills (T-bills) and Singapore Savings Bonds.

As the banks raise rates to attract depositors, home loan rates will be playing catch-up.

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