Best Bank Refinancing Rates Comparison 2025 | Homejourney

As of late December 2025, the best bank refinancing rates comparison 2025 in Singapore starts with fixed rates from 1.30% p.a. for Year 1 on loans of $500k and above, offered by top banks like DBS, OCBC, and UOB, alongside floating rates tied to 1M SORA + 0.25% (around 1.42%).[1][5]

Homejourney makes it safe and simple to compare best bank refinance Singapore options from DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong Bank, and Citibank—all in one trusted platform prioritizing your security and transparency.

Refinancing Fundamentals: Key Differences from Repricing

Refinancing involves switching your home loan to a different bank for better rates or terms, while repricing stays with your current bank but changes the package.[2][3] Refinancing typically takes 13 weeks and offers more options, though it includes legal and valuation fees—often subsidized by the new bank.[2]

Repricing is faster (about 5 weeks) with lower costs but limited to your bank's offerings, which may not match market-best rates.[3] For HDB owners, refinancing from an HDB loan to a bank loan is irreversible, so compare carefully using Homejourney's bank rates page.

Learn more in our pillar guide on Refinancing vs Repricing.

Top Bank Refinancing Rates Comparison 2025

Here's a snapshot of the refinancing rates comparison for minimum loans of $400k-$2M as of 29 Dec 2025:[1][5]

Year 1 Fixed: 1.35%-1.78% p.a. (e.g., DBS/OCBC at 1.35%-1.50%, with free conversion options after 12-36 months)
Year 2 Fixed: 1.30%-1.78% p.a. (lowest at 1.30%* with conditions)
Year 3: 1.50%-3M SORA + 0.50%-3.00%
Floating: 1M SORA + 0.25% (1.36%-1.42%), 3M SORA + 0.35%-0.60%

Lock-in periods are typically 2-3 years. Cash rebates for refinancing range from $2,000-$2,800 for loans over $500k-$1.5M, covering fees and providing surplus cash.[1]

Top banks refinancing leaders: DBS offers competitive fixed rates due to its SGD funding strength; OCBC and UOB provide strong packages with FC options and rebates.[1] Compare live rates on Homejourney for DBS OCBC UOB refinance deals.

Understanding SORA and Current Rate Trends

SORA (Singapore Overnight Rate Average) is the key benchmark for floating home loans in Singapore, replacing SIBOR. Current rates: 1M SORA at 3.7698%, 3M at 3.7479%.[4]

The chart below shows recent interest rate trends in Singapore:

Rates have stabilized post-peak, creating refinancing opportunities if your current rate exceeds 2%.[1][4] Track real-time 3M/6M SORA on Homejourney to time your move perfectly.

Financial Analysis: Is Refinancing Worth It?

Calculate break-even: Divide total costs (e.g., $2,000 fees minus $2,300 rebate = net gain) by monthly savings. Example: On a $1M loan, dropping from 2.5% to 1.50% saves ~$800/month; break-even in under 3 months.[1]

Factor hidden costs like clawback (if breaking lock-in early) and valuation fees—use our Hidden Costs guide. For HDB upgraders in areas like Punggol or Tengah, refinancing post-lock-in maximizes savings.

Pro tip: Insider knowledge—check your loan docs for exact lock-in end dates via bank portal or Homejourney's eligibility calculator at Homejourney mortgage calculator.

Timing and Step-by-Step Refinancing Guide

Best time: Post 2-3 year lock-in or when SORA drops 0.5%+.[2] With rates at 1.30%-1.45% fixed in 2025, act before hikes.[1][5]

Check eligibility: Use Homejourney's calculator for TDSR/LTV (max 75% for 2nd property).[2]
Compare rates: On Homejourney bank-rates, view refinance offers from 11+ banks.
Submit multi-bank application: One form via Singpass—get competing offers without branch visits.
Gather docs: NRIC, property title, income proof (last 3 months payslips).
Timeline: IPA in 1-3 days, full process 8-13 weeks. New bank handles redemption.

Negotiate: Leverage multiple offers for 0.05%-0.10% better rates or higher rebates.[1]

Money-Saving Strategies with Homejourney

Combine refinancing with goals like renovation budgeting—pair with Homejourney aircon services for new homes. For investors eyeing Projects Directory , lock low rates first.

Leverage cash rebates ($2k+) for fees.
Switch to floating if expecting rate cuts.
Apply via Homejourney: Banks compete, you win best refinance offers.

Disclaimer: Rates fluctuate; this is not financial advice. Consult Homejourney mortgage brokers for personalized guidance. Data from MAS-approved sources as of Dec 2025.[1][4]

Frequently Asked Questions (FAQ)

What are the best bank refinancing rates in Singapore 2025?
Lowest: 1.30%-1.35% fixed Year 1-2, 1M SORA +0.25% floating. Compare on Homejourney.[1][5]

DBS OCBC UOB refinance—which is best?
DBS leads fixed rates; OCBC/UOB strong on rebates/FC. Use Homejourney for real-time comparison.[1]

How to calculate refinancing savings?
Monthly saving x 12 vs costs. See our calculator guide.[1]

Refinancing costs for HDB?
Legal/valuation ~$2k-$3k, offset by rebates. Min loan $400k+.[1][3]

Can I refinance during lock-in?
Possible but penalties apply—check dates first via Homejourney.[2]

Ready for the best bank refinancing rates comparison 2025? Start safely on Homejourney bank-rates: Compare, calculate savings, apply once via Singpass. Link back to our pillar on Best Banks for Mortgage Refinancing for full coverage. Your trusted partner for secure property decisions.