Best Bank Refinancing Rates Comparison 2026 | Homejourney
The best bank refinancing rates comparison 2026 in Singapore shows promotional fixed rates starting from 1.45% for Year 1 on 2-year fixed packages for private properties, with DBS, OCBC, UOB, Maybank, and HSBC leading offers.[1][2]
At Homejourney, we prioritize your safety and trust by verifying rates from major banks like DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong, and Citibank. Use our bank rates page to compare live rates, calculate eligibility, and submit one application to all banks via Singpass for faster processing.
Why Refinance Your Home Loan in 2026?
Refinancing means switching your mortgage to another bank for better rates or terms, unlike repricing which stays within the same bank.[3][4] With SORA at 3-year lows around 1.34% for 3-month rates, bank loans now beat HDB's 2.6% concessionary rate, prompting more HDB owners to refinance.[3]
Expect savings of $500+ monthly on a $1M loan, as seen in real cases where borrowers moved from 3% to 1.6% fixed rates.[5] This cluster focuses on best bank refinancing rates comparison 2026, linking to our pillar guide on Singapore mortgage strategies for full coverage. Check Homejourney's mortgage calculator to verify if it's worth it.
Top Refinancing Rates Comparison 2026
Here's a breakdown of the best bank refinancing rates comparison 2026 for resale condos, landed homes, and HDB loans, based on January 2026 promos.[1][2]
| Bank | Loan Type | Year 1 Rate | Year 2 Rate | Cash Rebate (Refi) |
|---|---|---|---|---|
| Promo (Various) | 2 Yr Fixed | 1.45%-1.55% | 1.45%-1.55% | $2,000-$2,800 |
| Maybank | 2 Yr Fixed | 1.55%-1.65% | 1.55%-1.65% | $2,000+ |
| SCB / HSBC | 2 Yr Fixed | 1.60%-1.70% | 1.60%-1.70% | $2,300 |
| DBS / OCBC / UOB | 2-3 Yr Fixed | 1.65%-1.75% | 1.65%-1.75% | $2,000 |
For floating rates: Promo 1M SORA +0.30%, Maybank 3M SORA +0.40%.[1] DBS edges HDB refi with $2,000 rebate covering $1,800-$1,900 fees.[1] Compare all on Homejourney bank-rates.
Understanding SORA and Rate Trends
SORA (Singapore Overnight Rate Average) is the key benchmark for floating loans, reflecting real interbank transactions from 8am-6:15pm.[9] Most banks peg to 1M, 3M, or 6M SORA plus a margin.
The chart below shows recent interest rate trends in Singapore:
Rates have dropped to 3-year lows, with 3M SORA at 1.34%, driving refinancing surges.[3] Track live SORA on Homejourney to time your switch mortgage bank perfectly.
Refinancing Steps: How to Refinance in 2026
Follow these refinancing steps for a smooth refinance process:
- Check Eligibility: Use Homejourney's calculator at bank-rates#calculator. Need income proof, property title, existing loan statement.
- Compare Rates: Review best bank refinancing rates comparison 2026 on Homejourney – one dashboard for all banks.
- Calculate Break-Even: Divide fees (~$2,000-$3,000 incl. legal $1,500, valuation $500, clawback) by monthly savings. E.g., $400 savings means 5-7 month break-even. See our guide: How to Calculate If Refinancing is Worth It: Homejourney Guide
- Submit Application: Apply via Singpass on Homejourney – one form, multiple bank offers. No branch visits.
- Legal & Valuation: Bank appoints lawyer; process takes 4-6 weeks.
- Close & Disburse: New bank pays off old loan; enjoy rebate.
Timeline: 1-2 months. Insider tip: Refi 3-6 months before lock-in ends to avoid penalties.[3][5] Learn more in Homejourney: Guide to Step by Step Guide to Refinancing Your Mortgage .
Hidden Costs and Savings Strategies
Factor in legal fees ($1,200-$2,000), valuation ($400-$800), admin ($200), possible clawback.[1] Banks' $2,000+ rebates often cover these, netting positive cash.[2]
Example: $800k HDB loan from 3% to 1.6% saves $320/month. Break-even in 6 months post-rebate. Negotiate: Leverage Homejourney multi-bank apps – banks compete with better rates/rebates. Compare repricing vs refinancing: Refinancing vs Repricing: Which is Better for You | Homejourney . Avoid hidden traps: Hidden Costs in Refinancing Mortgage Guide | Homejourney .
2026 timing: Refi now before mid-year moderation as 2023-24 lock-ins expire.[3] Pair with property search on Homejourney search.
Homejourney Makes Refinancing Safe and Simple
Homejourney verifies rates daily, integrates Singpass for secure apps, and lets banks bid for your loan. Receive multiple offers from DBS to Citibank without hassle. Our mortgage brokers guide HDB upgraders and investors. Start at https://www.homejourney.sg/bank-rates.
Disclaimer: Rates change; not financial advice. Consult professionals. Data from MAS, banks as of Jan 2026.[1][2][3]
FAQ: Best Bank Refinancing Rates 2026
What are the best refinancing rates in 2026?
Promos at 1.45%-1.55% for 2Y fixed, floating SORA+0.30%. DBS/OCBC lead with rebates.[1][2]
How to refinance my HDB loan?
Switch to banks via Homejourney; can't revert to HDB. Savings beat 2.6% rate.[3]
Refinancing vs repricing?
Refi to new bank for best rates; repricing internal, often costlier ($800-$1k fee).[4]
What's the refinance application timeline?
4-6 weeks. Use Homejourney for instant multi-bank submission.
Are there penalties for early refinancing?
