Today's home loan rates
Every major bank's headline package beside the HDB loan, with your actual monthly instalment — and no “enquire to find out”.
Lowest fixed
1.40%
HSBC · 2-yr fixed
Lowest floating
1.34%
Maybank · 3M SORA + 0.20%
HDB concessionary
2.6%
CPF OA + 0.1% · unchanged since 1999
Should you refinance?
Your instalment on $500,000 over 25 years — today's rate vs the lowest package (Maybank 1.34%).
Now → new monthly
$2,503 → $1,962
Monthly saving
$541
Saved over 2 years
$12,979
Before switching, check lock-in penalties (~1.5% of the loan), subsidy clawbacks and legal/valuation fees — the refinance calculator computes the breakeven. Repricing with your own bank is often the cheaper first move.
| Bank | Package | Type | Yr 1 | Yr 2 | Yr 3 | Thereafter | Lock-in | Monthly* |
|---|---|---|---|---|---|---|---|---|
| HDBHDB (concessionary) | CPF OA + 0.1% | Quasi-fixednever repriced since 1999 | 2.60% | 2.60% | 2.60% | 2.60% | None | $2,268 |
 DBSbest | FHR6 board ratePegged to DBS's 6-month fixed-deposit rate; bank can revise it | Bank-setbank can revise at its discretion | 1.30% | 1.30% | 1.30% | 1.30%bank board rate | None | $1,953 |
 Maybank | 3M SORA + 0.20%free conversion after lock-in | Tracks SORAmoves with the market rate | 1.34% | 1.34% | 1.34% | 2.14%~SORA + 1.00% | 1 yr | $1,962 |
 UOB | 3M SORA + 0.20% (BUC)Building-under-construction package, no lock-in | Tracks SORAmoves with the market rate | 1.34% | 1.34% | 1.34% | 2.14%~SORA + 1.00% | None | $1,962 |
| SCBStandard Chartered | 3M SORA + 0.20%MortgageOne offset account available | Tracks SORAmoves with the market rate | 1.34% | 1.34% | 1.34% | 2.14%~SORA + 1.00% | Nonemin $300,000 | $1,962 |
 HSBC | 3M SORA + 0.25%free conversion after lock-in | Tracks SORAmoves with the market rate | 1.39% | 1.39% | 1.39% | 2.14%~SORA + 1.00% | 1 yr | $1,974 |
| RHBRHB | 1M SORA + 0.25%Pegged to 1M compounded SORAfree conversion after lock-in | Tracks SORAmoves with the market rate | 1.39% | 1.39% | 1.39% | 2.14%~SORA + 1.00% | 1 yr | $1,974 |
| DBS | 3M SORA + 0.25% (BUC) | Tracks SORAmoves with the market rate | 1.39% | 1.39% | 1.39% | 2.14%~SORA + 1.00% | None | $1,974 |
| HSBC | 2-yr fixed | Lockedrate fixed for the lock-in years | 1.40% | 1.40% | 1.89% | 1.89%reverts to ~SORA + 0.75% | 2 yrs | $1,976 |
 OCBC | 3M SORA + 0.30% †free conversion after lock-in | Tracks SORAmoves with the market rate | 1.44% | 1.44% | 1.44% | 2.14%~SORA + 1.00% | 1 yr | $1,986 |
| Maybank | 2-yr fixed | Lockedrate fixed for the lock-in years | 1.45% | 1.45% | 1.89% | 1.89%reverts to ~SORA + 0.75% | 2 yrs | $1,988 |
| SCBStandard Chartered | 2-yr fixed | Lockedrate fixed for the lock-in years | 1.45% | 1.45% | 1.89% | 1.89%reverts to ~SORA + 0.75% | 2 yrs | $1,988 |
| UOB | 2-yr fixed | Lockedrate fixed for the lock-in years | 1.50% | 1.50% | 1.89% | 1.89%reverts to ~SORA + 0.75% | 2 yrs | $2,000 |
| OCBC | 2-yr fixed † | Lockedrate fixed for the lock-in years | 1.50% | 1.50% | 1.89% | 1.89%reverts to ~SORA + 0.75% | 2 yrs | $2,000 |
| CIMBCIMB | 2-yr fixed † | Lockedrate fixed for the lock-in years | 1.55% | 1.55% | 1.89% | 1.89%reverts to ~SORA + 0.75% | 2 yrs | $2,011 |
*Monthly instalment on $500,000 over 25 years at the Year-1 rate. Thereafter figures are the typical reversion level (floating ≈ SORA + 1.0%, post-fixed ≈ SORA + 0.75%), not a bank-published rate — the point is that the low headline year doesn't last. † indicative — interpolated from adjacent packages.
Fixed vs floating in one minute
Fixed locks your rate for 2–3 years — certainty, usually at a premium, and a lock-in penalty (~1.5% of the loan) if you exit early. Floating tracks 1M/3M compounded SORA plus a fixed spread — cheaper today at SORA 1.14%, but moves with the market. Board rates (like DBS's FHR6) are set by the bank and can be revised at its discretion.
With SORA near multi-year lows, floating packages currently price below fixed — the gap is the premium you pay for certainty. Run both through the refinance calculator when your lock-in ends.
Bank loan or HDB loan?
The HDB concessionary loan (2.6%) costs more than today's bank packages — but it takes 75% LTV with CPF-only downpayment, has no lock-in, no penalty for early repayment, and never repriced in 25 years. Banks are cheaper while rates are low, need 5% cash, and you can never switch back to HDB later (HDB→bank is one-way).
Eligibility: at least one SC buyer, household income ≤ $14k ($21k extended), and both HDB-loan income ceilings and prior-loan limits apply — check HDB's HFE letter.
Home loan questions, answered straight
Why is the HDB loan 2.6% when banks charge less?
The HDB concessionary rate is pegged at CPF OA + 0.1% and hasn't moved since 1999 — it's stability, not a market rate. You pay more today, but get no lock-in, no early-repayment penalty, a CPF-only downpayment, and immunity from rate spikes. Bank packages are cheaper right now, but the switch is one-way: once you refinance from HDB to a bank you can never go back.
Fixed or floating in the current market?
With 3M SORA at 1.14%, floating packages currently price below fixed — you're paid to take rate risk, not to avoid it. Fixed still makes sense if a rate spike would genuinely strain your budget, or you value certainty during a known tight period. Many borrowers split the difference: float now, fix if SORA climbs back through their fixed-rate offer.
What exactly is SORA?
The Singapore Overnight Rate Average — MAS's volume-weighted average of actual overnight interbank lending, published daily. Mortgage packages use the 1-month or 3-month compounded average, so your instalment adjusts gradually with the market rather than jumping on a single day's print. It replaced SIBOR fully in 2024 and can't be set by any single bank.
What's the catch behind the lowest advertised rate?
Headline rates are first-year rates on the bank's preferred profile: minimum loan sizes (often $300k-$800k), sometimes deposits or investments placed with the bank, and a higher reversion rate after the promotional years. The lock-in penalty (~1.5% of the loan) is the real cost of choosing wrong — always compare the whole package, not the first year.
When should I refinance?
Check when your lock-in ends: if a new package saves more per month than its costs spread over your remaining tenure, move — our refinance calculator computes the breakeven month. Repricing (switching packages within your own bank) is often cheaper than refinancing and worth asking about first. Legal subsidies frequently cover the switching cost for loans above ~$500k.
How do TDSR and MSR limit what I can borrow?
Banks must test your repayments at a 4% stress rate: all debts within 55% of gross income (TDSR), and for HDB flats and ECs the housing loan alone within 30% (MSR). It's the stress rate, not today's package rate, that sets your ceiling — which is why a cheaper package doesn't raise your maximum loan. The affordability calculator applies both rules.
Rates are headline package rates maintained by hand from broker and aggregator tables (18 Jul 2026) — banks change them without notice and apply conditions (loan size, deposits, insurance). Always confirm with the bank or a broker before committing. Monthly instalments computed at the first-year rate over your chosen tenure. Bank logos and names identify each lender's package; Fairhome is not affiliated with or endorsed by any bank. Not financial advice.