Best Bank Refinancing Rates Comparison 2026 | Homejourney

In January 2026, the best bank refinancing rates comparison in Singapore starts with fixed rates from 1.30% for loans above S$500,000 and floating rates at 1M SORA + 0.25% (around 1.42%), offered by major banks like DBS, OCBC, and UOB.[1][2]

These rates beat HDB's 2.6% concessionary loan, driving more HDB owners to refinance for savings up to S$3,600 yearly on a S$400,000 loan.[2] Homejourney simplifies this with real-time comparisons from DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong, and Citibank at https://www.homejourney.sg/bank-rates.

Why Refinance Your Home Loan in 2026?

Singapore's home loan rates have hit 3-year lows, with 3-month SORA at 1.34% as of late 2025, sparking a refinancing surge among HDB and private property owners.[2][4] Banks are competing fiercely with lower rates, cash rebates of S$2,000–S$2,800, and fee subsidies, often leaving you with cash in hand after costs.[1]

This cluster on best bank refinancing rates comparison 2026 builds on our pillar guide, Mortgage Refinancing Singapore 2026: Homejourney Guide Mortgage Refinancing Singapore 2026: Homejourney Guide , offering tactical steps for maximum savings.

Refinancing switches your loan to a new bank for better terms, unlike repricing which stays in-house. With rates dropping, now's the time—especially post-lock-in periods ending from 2023 high-rate loans.[2][3]

Refinancing vs Repricing: Key Differences

Repricing changes packages within your current bank, costing S$800–S$1,000 in fees but no legal or valuation costs. It's quicker but often offers worse rates than new-to-bank deals.[3][4]

Refinancing (or switching banks) accesses the full market, with banks subsidizing fees and adding rebates. For example, DBS offers competitive fixed rates from its large funding pool, plus S$2,000–S$2,800 rebates for loans over S$500k.[1]

Learn more in our detailed comparison: Refinancing vs Repricing: Which is Better for You? Refinancing vs Repricing: Which is Better for You? | Homejourney .

Top Bank Refinancing Rates Comparison 2026

Here's a snapshot of leading packages as of January 2026 (minimum loans S$400k–S$2m; conditions apply):[1]

DBS/POSB: 2-year fixed ~1.48%, FC24, rebate S$2,000–S$2,800.
OCBC: 2-year fixed ~1.55%, FC12, rebate S$2,000+; popular for HDB refinancers.[2]
UOB: 3-year fixed 1.50%, waiver on sale, rebate S$2,300.
HSBC/Standard Chartered: Floating 1M/3M SORA +0.25–0.5% (~1.42–1.6%), flexible conversions.
Maybank/CIMB/RHB: Competitive floating from 1.35% for high-value loans, S$2,300 rebates.

Rates pegged to SORA (Singapore Overnight Rate Average), the key benchmark replacing older models. Track live 3M/6M SORA on Homejourney to time your move.

The chart below shows recent interest rate trends in Singapore:

As seen, SORA has fallen sharply from 3.6% in 2023 to under 1.4%, fueling refinancing.[2]

When to Refinance: Break-Even Analysis

Refinance if you'll recoup costs within 2–3 years. Formula: (Monthly savings × months to break-even) vs total costs (legal ~S$2k–S$3k, valuation ~S$500; often subsidized).[1][5]

Example: S$500k loan at 3% to 1.5% saves ~S$625/month. With S$2,500 net costs (after rebate), break-even is 4 months. Use Homejourney's calculator at https://www.homejourney.sg/bank-rates#calculator.

Best timing: End of lock-in (avoid penalties), when SORA dips further amid US Fed cuts.[2][4] Activity may moderate mid-2026 as early refinancers lock in.[2] See How to Calculate If Refinancing is Worth It How to Calculate If Refinancing is Worth It | Homejourney .

Step-by-Step Refinancing Guide on Homejourney

Compare rates: Visit https://www.homejourney.sg/bank-rates for real-time best bank refinancing rates comparison 2026 across 11 banks.
Check eligibility: Use our TDSR calculator; HDB switchers note: no return to HDB loans.[2][3]
Apply via Singpass: One form gets offers from all banks—no branch visits. Instant verification speeds approval.
Review offers: Negotiate using competing bids; expect rebates covering fees.
Close & save: Track via Homejourney dashboard. Pair with property search at https://www.homejourney.sg/search.

Timeline: 2–4 weeks. Documents: NRIC, income proof, property title.[5] Homejourney prioritizes your safety with verified partners and transparent processes.

Hidden Costs & Negotiation Tips

Banks reimburse most fees, but watch clawbacks if early exit. Insider tip: Apply to multiple banks via Homejourney to pit them against each other for extra rebates (up to S$3,300 reported).[1][8]

Detail: Hidden Refinancing Costs & Best Timing Hidden Refinancing Costs & Best Timing for Home Loans | Homejourney . Negotiate by highlighting your profile (e.g., stable income, low LTV).

Disclaimer: Rates fluctuate; this isn't financial advice. Consult professionals. Data from MAS, banks, Straits Times (Jan 2026).[1][2]

FAQ: Mortgage Refinancing Singapore

What are the best bank refinancing rates in 2026?
Fixed from 1.30–1.55% (2–3 years), floating SORA+0.25% (~1.42%) for qualifying loans. Compare on Homejourney.[1][2]

Is refinancing worth it for HDB flats?
Yes, if rates <2.6%; saves S$3,600/year on S$400k loan. Can't revert to HDB.[2]

How much cash rebate can I get?
S$2,000–S$2,800 for S$500k+ loans, covering costs with surplus.[1]

Repricing or refinancing—which saves more?
Refinancing usually, for better rates/rebates. See our guide.[3]

When should I refinance in 2026?
Post-lock-in, during SORA dips. Use Homejourney tracker.[2][4]

Ready for mortgage refinancing Singapore? Start your refinance home loan journey safely on Homejourney—compare, calculate, apply. Visit https://www.homejourney.sg/bank-rates today and let banks compete for you. For full details, read our pillar: Mortgage Refinancing Singapore 2026 Guide.