Consumers and corporates in Singapore prefer the stability of Singapore Overnight Rate Average (SORA)-based interest rates, with over six in 10 respondents indicating that they are open to SORA-pegged products, according to a recent UOB survey.
That said, as the same respondents are not as familiar with SORA-pegged products, seven in 10 of them stated that they would only apply for one within six to 12 months of the product becoming available.
The online survey conducted by UOB, polled over 300 individuals in January, including business owners, to understand public awareness and acceptance levels of SORA.
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