Rates · MAS data
SORA today: 1-month and 3-month Compounded SORA
The latest SORA and Compounded SORA from MAS, where your next home-loan reset is heading, what it means for your monthly payment, and every rate since 2005.
3-month Compounded SORA
1.26% a year
up 0.04 percentage points in a month (from 1.22% on 23 Sep)
See what it means for your loan
The rate most floating home loans use. Published by MAS on , for the 3 months to then. Where it is heading
The other SORA rates
- 1-month compounded
- 1.34% up 0.11 percentage points in a month
- 6-month compounded
- 1.21% up 0.06 percentage points in a month
- SORA, 22 Oct
- 1.52% up 0.33 percentage points in a month
Change over a month. SORA for 22 Oct: $2.62 billion of trades, from 0.90% to 1.65%. 1-month moves fastest; 6-month is the steadiest.
On a $500,000 loan at 3-month SORA + 0.80% over 25 years: $2,133 a month today, $33 less than a year ago. Your own loan
Where your next rate is heading
Compounded SORA looks back: the 3-month rate published on any day is the average of SORA, compounded, over the 3 months before it. So on any day, part of the next rate is already fixed by the days that have passed, and only the rest can still change.
If your 3-month rate resets on 23 Nov
It is likely to be about 1.31%, up about 0.05 points. 61 of the 92 days it covers have already happened, so most of it is already set; the rest assumes SORA stays near the last month’s 1.34%.
| Rate, on | Our estimate | If SORA moves 0.25 either way | Already known |
|---|---|---|---|
| 3-month 23 Nov 2026 | about 1.31% | 1.22% to 1.39% | 61 of 92 days |
| 3-month 23 Dec 2026 | about 1.35% | 1.18% to 1.51% | 30 of 91 days |
| 3-month 23 Jan 2027 | about 1.35% | 1.09% to 1.60% | 0 of 92 days |
| 1-month 23 Nov 2026 | about 1.34% | 1.09% to 1.59% | 0 of 31 days |
Our record: since 2021, this one-month-ahead estimate of 3-month Compounded SORA was within 0.10 points of MAS’s published figure on 1,248 of 1,438 days (median miss 0.03 points). Two and three months ahead, less of the window is known, so it misses by more (median 0.07 and 0.11). Banks often use the rate published a few days before your reset date; check your loan letter.
What it means for your loan
Put in what is left on your loan, your bank’s spread over SORA (it is on your loan letter, for example “3M SORA + 0.80%”) and the years left. You see the monthly payment today, what it was 3 months and a year ago, and what it would be if SORA moved.
Every spread, per $100,000
Monthly payment on each $100,000 over 25 years at today’s 3-month Compounded SORA (1.26%). Tap a spread to load it into the calculator.
| Spread | Rate | Per month | If SORA rises 0.50 |
|---|---|---|---|
| 1.56% | $403 | $427 | |
| 1.66% | $407 | $432 | |
| 1.76% | $412 | $436 | |
| 1.86% | $417 | $441 | |
| 1.96% | $422 | $446 | |
| 2.06% | $427 | $451 | |
| 2.16% | $432 | $457 | |
| 2.26% | $436 | $462 | |
| 2.36% | $441 | $467 | |
| 2.46% | $446 | $472 |
For $500,000, multiply by 5. Spreads shown are a range to compare, not quotes from any bank.
HDB loan or bank loan?
HDB loan or a bank floating loan?
Today a bank loan priced at 3-month SORA plus less than 1.34% has a lower rate than an HDB loan (2.60%). That gap closes if SORA rises: at its 5-year high, the bank loan would cost more.
| Case | HDB loan | Bank, 3M SORA + 0.80% |
|---|---|---|
| Rate today | 2.60% · $454 | 2.06% · $427 |
| If 3-month SORA went back to its 5-year high (3.76%, Nov 2023) | 2.60% · $454 | 4.56% · $559 |
Rate · monthly payment per $100,000 over 25 years; ✓ marks the cheaper one. The HDB rate is 0.1 point above the CPF Ordinary Account rate (2.50% from 1 Oct to 31 Dec 2026; HDB), reviewed every quarter. The bank spread is an example; change it in the calculator. Rates are not the whole story: you can move from an HDB loan to a bank loan later but not back, many bank packages have lock-in periods, and HDB loans have their own eligibility rules. Not advice.
Where SORA sits among Singapore rates
| Rate | % a year | Which |
|---|---|---|
| 3-month Compounded SORA | 1.26% | The 3 months to 23 Oct |
| 6-month T-bill | 1.95% | Cut-off yield, auction of 22 Oct |
| Savings Bond SBNOV26, year 1 | 1.67% | MAS rate, set on 1 Oct |
| CPF Ordinary Account | 2.50% | Until 31 Dec 2026 |
| HDB concessionary loan | 2.60% | CPF OA rate + 0.1 |
SORA is what banks pay each other overnight, compounded; T-bills and Savings Bonds are what the government pays you; CPF OA is what your CPF savings earn. They move together over time, which is why floating loan rates and savings rates tend to rise and fall at once.
SORA since 2005
3-month compounded SORA (overnight)
Tap or hover on the chart to read a value.
The last 13 months
| Month | SORA, average | 3-month compounded, month end |
|---|---|---|
| Oct 2026 (so far) | 1.32% | 1.26% |
| Sep 2026 | 1.24% | 1.23% |
| Aug 2026 | 1.27% | 1.19% |
| Jul 2026 | 1.16% | 1.14% |
| Jun 2026 | 1.09% | 1.08% |
| May 2026 | 1.15% | 1.06% |
| Apr 2026 | 1.00% | 1.03% |
| Mar 2026 | 1.02% | 1.07% |
| Feb 2026 | 1.03% | 1.12% |
| Jan 2026 | 1.13% | 1.15% |
| Dec 2025 | 1.16% | 1.19% |
| Nov 2025 | 1.11% | 1.25% |
| Oct 2025 | 1.20% | 1.32% |
SORA in every year since 2005
| Year | Average | Lowest day | Highest day |
|---|---|---|---|
| 2026 (so far) | 1.14% | 0.76% | 1.52% |
| 2025 | 1.78% | 0.73% | 3.13% |
| 2024 | 3.44% | 2.11% | 4.27% |
| 2023 | 3.62% | 2.16% | 4.08% |
| 2022 | 1.50% | 0.04% | 4.39% |
| 2021 | 0.15% | 0.04% | 0.40% |
| 2020 | 0.30% | 0.01% | 1.68% |
| 2019 | 1.48% | 0.27% | 2.24% |
| 2018 | 1.04% | 0.05% | 2.18% |
| 2017 | 0.56% | 0.03% | 1.41% |
| 2016 | 0.20% | 0.01% | 0.92% |
| 2015 | 0.25% | 0.03% | 1.23% |
| 2014 | 0.08% | 0.01% | 0.32% |
| 2013 | 0.05% | 0.02% | 0.39% |
| 2012 | 0.06% | 0.02% | 0.30% |
| 2011 | 0.05% | 0.01% | 0.23% |
| 2010 | 0.10% | 0.03% | 0.30% |
| 2009 | 0.19% | 0.03% | 0.63% |
| 2008 | 0.67% | 0.07% | 1.76% |
| 2007 | 2.24% | 0.49% | 3.28% |
| 2006 | 3.19% | 1.22% | 3.78% |
| 2005 (from July) | 2.23% | 1.68% | 3.78% |
Every day since July 2005, with SORA, the SORA Index and the 1, 3 and 6-month compounded rates: download the CSV (opens in any spreadsheet).
SORA in plain words
- SORA (the Singapore Overnight Rate Average) is the average rate banks paid to borrow Singapore dollars from each other overnight, without security, between 8 am and 6.15 pm, weighted by how much each trade was for. MAS works it out from the banks’ trades and publishes it by 9 am the next business day.
- Compounded SORA strings the daily rates together over 1, 3 or 6 months, as if you had lent each day’s interest out again the next day. On weekends and public holidays the last business day’s rate counts for each day off. MAS has published the 1, 3 and 6-month rates every business day since 6 August 2020, and worked them out back to 2005.
- The SORA Index is that compounding as a running total: divide the index on two dates and you get the compounded rate between them. It is how banks, and this page, work out a rate for any period.
- Floating home loans in Singapore are priced as a SORA rate plus a spread, for example 3-month Compounded SORA + 0.80%. The SORA part changes at each reset; the spread is fixed for a period set in your loan.
- SIBOR and SOR, the rates loans used before, have stopped: SOR after June 2023 and SIBOR at the end of 2024. Loans that used them moved to SORA.
Questions people ask
What is the SORA rate today?
On 23 Oct 2026 MAS published 3-month Compounded SORA at 1.26%, 1-month at 1.34% and 6-month at 1.21%. SORA itself for 22 Oct was 1.52%. This page updates by 9:20 am each business day.
1-month or 3-month SORA: which does my loan use?
It is in your loan letter, as “1M SORA” or “3M SORA”, and whether it is compounded in arrears or the rate published on a set date. Many home loans use 3-month Compounded SORA. The 1-month rate follows SORA faster, up and down; the 3-month and 6-month rates move more slowly, so your payment changes less from one reset to the next.
Why is my bank’s rate different from the one here?
Three usual reasons: your rate adds the bank’s spread to SORA; banks often take the rate published a few days before your reset date (a “lookback”), not the one on the day; and your reset dates are your own, not the 1st of the month. The calculator above shows the effect of each SORA level on your payment.
Does SORA affect HDB loans?
No. HDB’s concessionary loan rate is set at 0.1 point above the CPF Ordinary Account interest rate, and only changes if that rate changes. SORA only matters if you have, or are moving to, a bank loan.
When does SORA come out?
By 9 am each Singapore business day, for the business day before. The compounded rates and the SORA Index come out at the same time. This page checks at 9:20 and 11:20 am.
What happens on weekends and public holidays?
Interest only compounds on business days. Friday’s SORA, for example, counts for Friday, Saturday and Sunday, compounded once over the weekend; a public holiday is treated the same way.
Is SORA the same as SOFR?
No. SOFR is the United States’ overnight rate for borrowing dollars against Treasury bonds. SORA is Singapore’s, for borrowing Singapore dollars with no security. They tend to move in the same direction over time, but they are set by different markets.
How we get these numbers
- Every SORA rate on this page is MAS’s, from its Domestic Interest Rates table, downloaded at 9:20 and 11:20 am every day.
Every morning we download MAS’s Domestic Interest Rates table and work out the 1, 3 and 6-month Compounded SORA again ourselves from the SORA Index, using MAS’s own rules: the window starts on the same date 1, 3 or 6 months before publication; if that is not a business day, the business day before’s SORA runs until the next one; interest is counted on actual days over 365. Since MAS began publishing the compounded rates on 6 August 2020, our figure has been within 0.0001 points of MAS’s for 4,692 of 4,692, and identical to four decimals for 4,614. If one ever differs by more, the page keeps MAS’s figure and we look into it.
The reset estimate uses the same sums: the part of the window already published comes from the SORA Index, and the days still to come are filled in at the latest 1-month Compounded SORA, the average of the last month. Nothing is guessed about where MAS policy or the market will go.
- The loan figures are standard monthly repayments for the amount, rate and years you give, at each rate for the whole time. Your bank’s figures can differ by its rounding, lookback and fees.
- This page shows numbers, not advice on which loan to take. See our disclaimer, how we get our numbers and corrections.
Disclosure: the editor, Jeremiah Say, has no SORA-linked loan. Numbers.sg is not paid by MAS, any bank or mortgage broker.
Contains information from Domestic Interest Rates (SORA) accessed on 24 Oct 2026 from the Monetary Authority of Singapore website, which is made available under the terms of the MAS Terms of Use of Datasets. Numbers.sg is independent and is not endorsed by MAS.
Changes to this page
New page: SORA today. MAS’s 1, 3 and 6-month Compounded SORA, checked every business day, where your next 3-month reset is heading (with our track record), a home-loan payment calculator, HDB loan against bank loan, and every rate since 2005 to download. See SORA today