Apply to Multiple Banks at Once: Homejourney Complete Guide
This definitive guide from Homejourney explains how to apply to multiple banks at once in Singapore, streamlining your home loan process with one application to major lenders like DBS, OCBC, UOB, HSBC, and more. Discover the step-by-step process, timelines, required documents, and insider tips to secure the best rates while prioritizing user safety and trust.
Homejourney's multi-bank application system uses Singpass for secure, one-click submissions, letting banks compete for your business. Whether you're a first-time HDB buyer or refinancing a private property, this 2026 guide equips you with everything needed for confident decisions.
Table of Contents
- Why Apply to Multiple Banks at Once?
- How Multi-Bank Applications Work in Singapore
- Step 1: Check Your Eligibility on Homejourney
- Step 2: Gather Required Documents
- Step 3: Submit One Application via Singpass
- Complete Timeline: From Submission to Approval
- Comparing Offers from Top Banks
- Detailed Reviews of Major Singapore Banks
- Pros, Cons, and Who Each Bank Suits
- Avoiding Common Pitfalls and Boosting Approval Odds
- HDB vs Private Property: Key Differences
- Multi-Bank Applications for Refinancing
- FAQ: Applying to Multiple Banks in Singapore
Why Apply to Multiple Banks at Once?
In Singapore's competitive mortgage market, applying to multiple banks lets you receive competing offers without endless paperwork. Traditional sequential applications take 4-6 weeks per bank, but Homejourney's one application multiple banks approach delivers In-Principle Approvals (IPAs) from 5-10 banks in 1-3 days.[1][2][4]
Banks expect comparisons—it's standard practice. Homejourney protects your credit profile by treating it as a single broker-facilitated inquiry, not multiple hard checks from Credit Bureau Singapore (CBS).[5] Save time, secure better rates (often 0.1-0.3% lower), and let lenders bid for your loan.
For example, a Punggol HDB buyer with S$8,000 monthly income might qualify for S$600,000 from DBS at 3.2% SORA but S$620,000 from OCBC at 3.15%. Multi-bank submission reveals these differences instantly via our dashboard.[1]
How Multi-Bank Applications Work in Singapore
Homejourney acts as your mortgage broker Singapore, submitting one secure application to partners including DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong, and Citibank.[4] Using Singpass MyInfo, details auto-fill from government records: NRIC, IRAS income, CPF balances.[2][4]
Banks process independently with real-time CBS checks. You get a dashboard comparing rates, fees, lock-ins. Select the best; others are withdrawn seamlessly. This complies with MAS guidelines and HDB rules for bank loans (income over S$14,000).[1][3]
Step 1: Check Your Eligibility on Homejourney
Start at Homejourney's mortgage eligibility calculator. Input income, debts, property price—no credit impact. It factors TDSR (55% debt-to-income) and MSR (30% for HDB).[1][3]
Example: S$10,000 income, S$2,000 debts = S$1.2M borrowing power for private property. For HDB upgraders, check projects directory for resale flats within budget.
TDSR and MSR Quick Reference Table
| Metric | Limit | Applies To |
|---|---|---|
| TDSR | 55% of gross income | All properties (HDB/private) |
| MSR | 30% of gross income | HDB only |
| LTV | 75-90% (foreigner 60%) | Loan-to-Value |
Homejourney verifies data for accuracy, ensuring a safe process.[1]
Step 2: Gather Required Documents
Per MAS/HDB: NRIC/Passport, 3 months' payslips, IRAS NOA, 12 months' CPF, bank statements, OTP.[3] Self-employed need audited accounts. Insider tip: Pay cards below 30% limit pre-application to boost CBS score.[3]
- NRIC/Passport copy
- Last 3 payslips/bank statements
- Latest IRAS Notice of Assessment
- CPF statements (12 months)
- Existing loans/credit cards statements
- Option to Purchase (OTP) or property details
Upload securely on Homejourney—faster than branches.
Step 3: Submit One Application via Singpass
Go to https://www.homejourney.sg/bank-rates, login with Singpass. MyInfo fills details in seconds.[2][4] Select banks, review, submit. Track via dashboard. Takes 5-10 minutes vs. 45 at branches.[2]
Homejourney Mortgage Brokers guide you, prioritizing transparency.[4]
Complete Timeline: From Submission to Approval
Total: 4-6 weeks vs. months individually.[1][3][5]
- Day 0: Submit via Homejourney
- Days 1-3: IPAs from banks
- Days 4-7: Compare offers, valuations (S$500-1,500 fee)
- Weeks 2-4: Full approval, legal docs
- Week 6: Disburse at completion
Delays from incomplete docs or CBS issues—Homejourney flags early.[1]
Comparing Offers from Top Banks
Homejourney dashboard shows side-by-side: rates, lock-ins, fees. Focus on effective rates (SORA + spread), e.g., 3M SORA ~3.0% + 0.5% = 3.5%.[8] See real-time at bank-rates.
The chart below shows recent interest rate trends in Singapore:
As seen, SORA peaked at 3.2% in Q1 2026 but stabilized. Use for timing.[8]
Detailed Reviews of Major Singapore Banks
DBS Bank
Market leader with fixed/SORA loans. Current: 3M SORA +0.6%. Fast digital approvals. Best for HDB.[9]
OCBC Bank
Strong MyInfo integration. Rates: SORA +0.55%. Good for private properties.[10]
UOB
Pioneer in instant approvals. Rates competitive at SORA +0.5-0.7%.
HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong, Citibank
Foreign banks offer low spreads (0.4-0.6%) for high earners; locals favor HDB. Compare all on Homejourney.[4]
Pros, Cons, and Who Each Bank Suits
| Bank | Pros | Cons | Best For |
|---|---|---|---|
| DBS | Fastest IPA, app features | Higher fees | First-time buyers |
| OCBC | Low rates, Singpass | Strict self-employed | Private property |
| UOB | Competitive refinancing | Branch-focused | Investors |
Full list at Homejourney bank rates. Rates as of Feb 2026; check live.[8]
Avoiding Common Pitfalls and Boosting Approval Odds
- Don't apply directly to banks—use Homejourney to avoid multiple CBS hits.[5]
- Time post-OTP (valid 14-21 days).[5]
- Improve profile: Clear debts, stable income. See 如何获得房贷预批：如何提高申请成功率 | Homejourney指南 ">how to boost approval.[3]
Disclaimer: This is general advice; consult Homejourney Mortgage Brokers for personalized guidance. Not financial advice.
HDB vs Private Property: Key Differences
HDB: MSR applies, max S$14,000 income for HDB loan; else banks. Private: Higher LTV for citizens (75%). Use property search for options.[1]
Multi-Bank Applications for Refinancing
Same process, check penalties (1-1.5% if breaking lock-in). Saves 0.2-0.5% on rates. Track SORA via Homejourney.[1][2]
Post-refi, consider Aircon Services ">aircon services for property upkeep.
FAQ: Applying to Multiple Banks in Singapore
Can I apply to multiple banks at once? Yes, via Homejourney's multi-bank system—one app, no credit harm.[5]
How long for IPAs? 1-3 days from DBS/OCBC/UOB.[1][4]
What documents? NRIC, payslips, CPF, IRAS.[3]
Singpass needed? Yes, auto-fills for speed.[2]
HDB buyers eligible? Yes, if income >S$14k; use calculator.[1]
Refinancing possible? Absolutely, compare current vs new rates.[3]
Ready? Visit https://www.homejourney.sg/bank-rates for bank comparison service, calculator, and multi-bank application. Homejourney ensures safe, transparent journeys—connect with our Mortgage Brokers today.
References
- Singapore Property Market Analysis 1 (2026)
- Singapore Property Market Analysis 2 (2026)
- Singapore Property Market Analysis 4 (2026)
- Singapore Property Market Analysis 5 (2026)
- Singapore Property Market Analysis 3 (2026)
- Singapore Property Market Analysis 8 (2026)
- Singapore Property Market Analysis 9 (2026)
- Singapore Property Market Analysis 10 (2026)
