Recently, DBS (DBS), OCBC (OCBC), UOB (UOB) have increased the fixed interest rates on home loans, up to 4.5%.

DBS Bank offers four fixed-rate packages with terms ranging from two to five years, with the APR set at 4.25% for all packages.

However, the floating interest rate remains unchanged and continues to be linked to the overnight interest rate compounded with a new 3-month currency and 1% loan guarantee.

In addition, DBS has changed the terms of its "two-in-one mortgage", which combines a fixed rate and a variable rate.

Borrowers can now arrange up to 70% of their mortgage at a fixed rate and the rest at a floating rate with a 0.75% loan guarantee and a two-year lock-in period.

OCBC has adjusted the original fixed rate of 3.35% for one year and 3.5% for two years to 4.3% p.a., with the variable rate remaining unchanged from DBS Bank.

UOB, which has not offered fixed-rate mortgages for some time, has also introduced two-year fixed-rate mortgages with rates as high as 4.5 percent.

The bank also explained the increase in the fixed rate for home loans.

Given that the biggest factor in the recent rise in interest rates is the increasing demand for housing fixed rate loan schemes from Singaporeans, the bank's support program for Singaporean market demand has changed.

At the same time, the bank advises borrowers that regardless of the current interest rate trend or any home loan package they choose, they need to set aside sufficient funds for a cushion against further interest rate increases or any unforeseen circumstances, and enough time to restructure the loan or sell the property in case they encounter any financial problems.