Best Bank Refinancing Rates Comparison 2026 | Homejourney
Compare the best bank refinancing rates comparison 2026 from DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong, and Citibank on Homejourney. Current top rates start at 1.35% p.a. for loans above S$500k, with cash rebates up to S$2,800 covering fees and delivering net savings.[1]
This cluster article dives into 2026 refinancing rates, linking back to our pillar guide on Singapore home loans. Homejourney prioritizes your safety with verified rates, Singpass integration, and multi-bank applications to help you secure the best deals transparently.
Refinancing Fundamentals: Rates and Options in 2026
Refinancing means switching your home loan to another bank for better rates, unlike repricing which stays within the same bank. In 2026, bank loans beat HDB's 2.6% rate, with floating SORA-linked packages at 1.34%-1.8% and fixed rates from 1.48%.[2][4]
SORA (Singapore Overnight Rate Average) is Singapore's key benchmark, with 3-month rates at a 3-year low of 1.34% as of late 2025, driving refinancing surges especially among HDB owners.[2]
The chart below shows recent interest rate trends in Singapore:
Rates have trended down, but experts predict moderation mid-2026 as many high-rate loans from 2023-2024 refinance.[2] Use Homejourney's real-time SORA tracker at https://www.homejourney.sg/bank-rates to time your move perfectly.
Top Bank Refinancing Rates Comparison 2026
Here's a side-by-side of leading packages for minimum loans S$400k-S$2M (rates as of early 2026; verify on Homejourney for updates).[1]
| Bank | Rate (p.a.) | Lock-in | Min Loan | Cash Rebate (Refi) |
|---|---|---|---|---|
| DBS | 1.35%+ | 2 years | S$500k | S$2,000-S$2,800 |
| OCBC | 1.48% | 2 years | S$400k | S$2,000-S$2,800 |
| UOB | 1.5% | 3 years | S$500k | S$2,000 |
| HSBC | 1.55% | 2 years | S$500k | S$2,300 |
| Standard Chartered | 1.6% | 2 years | S$2M | S$2,300 |
DBS leads with competitive fixed rates and high rebates for S$1M+ loans. Compare all 11 banks instantly on Homejourney bank rates – no need to visit branches.[1]
When to Refinance Mortgage: Key Triggers for 2026
Refinance when your lock-in period ends, rates drop 0.5%+ below your current (e.g., from 3% to 1.6%), or SORA hits lows like 1.34%.[2][4] Best time: Start 3-6 months before lock-in expiry to avoid penalties.
HDB owners: Switch now as bank rates undercut 2.6%; note you can't revert to HDB loans.[2] Use our refinancing calculator at https://www.homejourney.sg/bank-rates#calculator for personalized timing.
Break-Even Analysis and Hidden Costs
Calculate break-even: (Refi costs) / (Monthly savings) = months to recover. Example: S$400k loan at 3% to 1.6% saves S$500/month; S$3k costs (legal S$1.5k, valuation S$500, clawback) = 6 months break-even.[4]
Banks rebate most fees (S$2k+), netting cashback. Factor TDSR (60% debt cap) and MAS rules. See How to Calculate If Refinancing is Worth It for details.
Step-by-Step Refinancing Guide with Homejourney
- Compare rates: Use Homejourney at https://www.homejourney.sg/bank-rates for DBS to Citibank options.
- Check eligibility: Input details via Singpass for instant verification and borrowing power calc.
- Submit one app: Apply once – get offers from multiple banks competing for you.
- Legal/valuation: Bank reimburses; process takes 4-6 weeks.
- Track SORA: Monitor live rates on platform; convert free after 1-3 years.[1][2]
Disclaimer: Rates fluctuate; consult Homejourney mortgage brokers for advice. Homejourney verifies all data for your trust and safety.
Money-Saving Tips and Negotiation Strategies
- Leverage multi-bank apps on Homejourney – banks bid with better rates/rebates.
- Ask for higher rebates on S$1M+ loans (up to S$2,800).[1]
- Combine with property search at https://www.homejourney.sg/search for upgrades within budget.
- Refi before mid-2026 peak; track via our tools.
For repricing vs refinancing, read Refinancing vs Repricing. Insider tip: HDB owners in mature estates like Toa Payoh save most – S$3,600/year on S$400k loan.[2]
FAQ: Best Bank Refinancing Rates 2026
What are the best bank refinancing rates comparison 2026?
Top rates from 1.35% (DBS/OCBC) with 2-3 year lock-ins and S$2k+ rebates. Compare on Homejourney.[1]
When to refinance mortgage in 2026?
At lock-in period end, SORA <1.5%, or 0.5%+ savings. Best time: Now, before mid-year moderation.[2][4]
What's the interest rate trigger for refinancing?
Switch if new rate beats current by 0.5%+ after costs; use Homejourney calculator.[2]
Refinancing vs repricing: Which for 2026?
Refinance for better rates/rebates across banks; repricing for same-bank ease. See linked guide.[3]
Can HDB owners refinance to banks?
Yes, to rates <2.6%, but no HDB revert. Savings: S$3,600/year on S$400k.[2]
Ready for the best bank refinancing rates comparison 2026? Start on Homejourney bank rates – compare, calculate savings, and apply via Singpass today. For full Singapore home loan pillar, explore our comprehensive guide. Your trusted partner for safe, transparent property decisions.
