A bit late to the party but just thought I'd link the Mortgage Master article on the CIMB interest floor rate here: https://www.mortgagemaster.com.sg/blog/post/interest-rate-floor-increasing
Will other banks follow suit and increase their interest rate floor?
At this point in time, we don't think so. The backlash from the April announcement was so swift that no other bank will want to risk negative PR, especially as the COVID-19 pandemic continues to affect livelihoods.
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