Be it paying for an overseas purchase or sending money to a studying child, Telegraphic Transfer is the perfect tool to send foreign currency overseas in a timely and secure manner. The benefits of TT are:
On Demand rates are applied when purchasing or selling of demand draft, foreign cheque and etc. It is a cheaper method for payments made overseas and funds are cleared through our correspondents in major cities around the world.
Private Property Board Codes
Reference Rate |
Current Interest Rate ( % p.a. ) |
MR1 |
6.25 |
MR2 |
6.45 |
MR3 |
5.50 |
MR4 |
5.50 |
MR5 |
6.35 |
MR6 |
5.75 |
MR7 |
5.70 |
HP1 |
6.65 |
MRR |
5.75 |
MVR |
6.25 |
HDB Board Codes
Reference Rate |
Current Interest Rate ( % p.a. ) |
HB1 |
4.75 |
HB2 |
4.25 |
HB3 |
3.50 |
HB4 |
4.00 |
HB5 |
4.75 |
HH1 |
6.35 |
HBD |
4.75 |
HB6 |
4.25 |
Commercial Board Codes
Reference Rate |
Current Interest Rate ( % p.a. ) |
CR1 |
4.68 |
CR2 |
5.18 |
CR3 |
5.68 |
CR6 |
6.58 |
CR7 |
5.60 |
HC1 |
7.65 |
CRR |
5.20 |
Malaysia Property Board Codes
Reference Rate |
Current Interest Rate ( % p.a. ) |
MBR |
7.00 |
The London Interbank Offered Rate (LIBOR), which serves as an interest rate benchmark across a number of financial products, is expected to be discontinued by the end of 2021. LIBOR (in all its underlying currencies) is expected to be replaced with overnight risk-free rates (RFRs).
The transition from LIBOR to RFRs arises from the global shift to improve the robustness and integrity of financial benchmarks. As part of this shift, the UK Financial Conduct Authority, which acts as the supervisory authority for LIBOR, stated that it would no longer compel banks to submit rates used for the calculation of LIBOR after 31 December 2021.
Alternative benchmark rates have been identified by the respective jurisdictions/countries to replace LIBORs and are set out in the table below. These risk free rates are all overnight interest rate benchmarks, and are based on actual transactions which may be secured or unsecured.
Be it paying for an overseas purchase or sending money to a studying child, Telegraphic Transfer is the perfect tool to send foreign currency overseas in a timely and secure manner. The benefits of TT are:
On Demand rates are applied when purchasing or selling of demand draft, foreign cheque and etc. It is a cheaper method for payments made overseas and funds are cleared through our correspondents in major cities around the world.
Private Property Board Codes
Reference Rate |
Current Interest Rate ( % p.a. ) |
MR1 |
6.25 |
MR2 |
6.45 |
MR3 |
5.50 |
MR4 |
5.50 |
MR5 |
6.35 |
MR6 |
5.75 |
MR7 |
5.70 |
HP1 |
6.65 |
MRR |
5.75 |
MVR |
6.25 |
HDB Board Codes
Reference Rate |
Current Interest Rate ( % p.a. ) |
HB1 |
4.75 |
HB2 |
4.25 |
HB3 |
3.50 |
HB4 |
4.00 |
HB5 |
4.75 |
HH1 |
6.35 |
HBD |
4.75 |
HB6 |
4.25 |
Commercial Board Codes
Reference Rate |
Current Interest Rate ( % p.a. ) |
CR1 |
4.68 |
CR2 |
5.18 |
CR3 |
5.68 |
CR6 |
6.58 |
CR7 |
5.60 |
HC1 |
7.65 |
CRR |
5.20 |
Malaysia Property Board Codes
Reference Rate |
Current Interest Rate ( % p.a. ) |
MBR |
7.00 |
The London Interbank Offered Rate (LIBOR), which serves as an interest rate benchmark across a number of financial products, is expected to be discontinued by the end of 2021. LIBOR (in all its underlying currencies) is expected to be replaced with overnight risk-free rates (RFRs).
The transition from LIBOR to RFRs arises from the global shift to improve the robustness and integrity of financial benchmarks. As part of this shift, the UK Financial Conduct Authority, which acts as the supervisory authority for LIBOR, stated that it would no longer compel banks to submit rates used for the calculation of LIBOR after 31 December 2021.
Alternative benchmark rates have been identified by the respective jurisdictions/countries to replace LIBORs and are set out in the table below. These risk free rates are all overnight interest rate benchmarks, and are based on actual transactions which may be secured or unsecured.
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Fees & Charges
Fee |
No fee is required to maintain the account |
Initial Deposit |
Minimum placement of S$20,000 for tenures of 3 months and above |
FD Advice Printing Charge |
Effective 01 Feb 2023, printing of FD advice for placement made via the Mobile Banking SG app wil be chargeable at $5 per print. |