Best Bank Refinancing Rates Comparison 2025 | Homejourney
Compare the best bank refinancing rates comparison 2025 from DBS, OCBC, UOB, HSBC, Standard Chartered and more on Homejourney to save thousands on your home loan.
Homejourney makes it safe and simple with our verified rates, refinance calculator, and multi-bank applications via Singpass.
Why Refinancing Rates Matter in 2025
With SORA rates stabilizing around 3.75% for 3M compounded as of late 2025, top refinancing packages offer fixed rates from 1.30%-1.50% in Year 1, dropping to floating options like 1M SORA + 0.25% (about 1.43%).
Refinancing switches your loan to a new bank for better rates, unlike repricing which stays with your current bank. This cluster dives deep into 2025 rates, while our pillar guide on Singapore home loans covers full strategies—see Refinancing vs Repricing: Which is Better for You? Homejourney .
Homejourney verifies all rates daily from official bank sources, prioritizing your trust and safety.
Top Bank Refinancing Rates Comparison 2025
Here's a snapshot of leading refinancing packages for loans over $500k (conditions apply):
| Bank | Year 1 Rate | Year 2 | Year 3 | Lock-in | Cash Rebate |
|---|---|---|---|---|---|
| DBS | 1.35% Fixed* | 1.35% Fixed* | 3M SORA + 0.60% | 2 years | $2,000-$2,800 |
| OCBC | 1.50% Fixed | 1.50% Fixed | 1.50% Fixed | 3 years | $2,000 |
| UOB | 1.78% Fixed | 1.78% Fixed | 3M SORA + 0.50% | 2 years | $2,300 |
| HSBC | 1.45% Fixed | 1M SORA + 0.25% | 1M SORA + 0.35% | 2 years | $2,300 |
| Standard Chartered | 1.45% Fixed | 1.45% Fixed | 3M SORA + 3.00% | 2 years | $2,300 |
*Conditions apply; min loan $500k. Compare live rates on Homejourney bank rates.[1][6]
These rates beat HDB loans (currently ~2.6% effective), making bank refinancing attractive post-lock-in.[10]
SORA Trends Impacting 2025 Refinancing
SORA (Singapore Overnight Rate Average) is the key benchmark for floating rates in Singapore, pegged by MAS for transparency. Most packages start fixed then switch to 1M/3M SORA + margin.
The chart below shows recent interest rate trends in Singapore:
Rates have eased from 2024 peaks, creating refinancing opportunities if your current rate exceeds 2%.[1][4]
Is Refinancing Worth It? Break-Even Analysis
Refinancing worth it? Calculate break-even: (Refinancing costs - rebates) / Monthly savings = months to recover.
Example: $1M loan at 2.5% to 1.5% saves ~$500/month. Costs: $2-3k legal/valuation (rebated $2.5k net). Break-even: ~2 months. Use Homejourney's refinance calculator for your numbers.[2]
- Hidden costs: Clawback if breaking lock-in (1-1.5% of loan), processing fees ~$2k (often subsidized).
- Rule: Refinance if savings exceed costs within 24 months.
- Tip: Check lock-in end via bank statement—Homejourney guides this safely.
Read more on Hidden Refinancing Costs in Singapore: Homejourney Break-even Guide .
Refinancing Costs Breakdown 2025
Key expenses:
- Legal fees: $1,500-$3,000 (98% rebated by new bank).
- Valuation: $500-$1,500 (rebated).
- Clawback: Up to 1.5% if pre-lock-in.
- Admin: $200-$500.
Net cost often $0-$500 after $2k+ rebates from DBS/HSBC. HDB-to-bank switch? No re-entry to HDB loans.[3]
Step-by-Step Refinancing Guide
- Check eligibility: TDSR <60%, LTV rules via Homejourney calculator.
- Compare rates: Use Homejourney for DBS-Standard Chartered.
- Get quotes: Submit one app via Singpass—banks compete.
- Timeline: 8-13 weeks; start 3 months pre-lock-in end.
- Close: Lawyer handles redemption; track on Homejourney.
For HDB upgraders or investors, pair with property search.[2]
Money-Saving Tips for Best Rates
- Negotiate: Leverage competing offers—Homejourney's multi-bank submission gets banks bidding.
- Time it: Refinance post-lock-in, when SORA dips (track live on Homejourney).
- Bundle: Combine with credit cards for extra rebates.
- Investors: Optimize for investment properties—see Refinancing for Investment Property Owners: Homejourney Guide .
Disclaimer: Rates fluctuate; consult professionals. Homejourney provides info, not advice.
FAQ: Best Bank Refinancing Rates 2025
Which bank has the best refinancing rates 2025?
DBS and HSBC lead at 1.35%-1.45% fixed Year 1 for $500k+ loans, with strong rebates. Compare on Homejourney.[1][6]
Should I refinance my HDB loan?
Yes if bank rates <2.6% post-rebates and break-even <24 months. No HDB re-entry.[3][10]
How to calculate if refinancing is worth it?
Use (costs - rebates)/savings = break-even months. Try Homejourney's tool: How to Calculate If Refinancing Is Worth It in Singapore | Homejourney .
What are refinancing costs in Singapore?
Net $0-500 after rebates; watch clawback. Full guide: Hidden Refinancing Costs in Singapore: Homejourney Break-even Guide .
Refinancing vs repricing?
Refinancing offers better rates across banks (13 weeks); repricing faster but limited (5 weeks). Details: Refinancing vs Repricing: Which is Better for You? Homejourney .
Ready for the best bank refinancing rates comparison 2025? Start safely on Homejourney bank rates—compare, calculate, apply via Singpass. Link back to our pillar: Complete Singapore Home Loans Guide.
