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 from 1.35% for loans over S$500k, with cash rebates up to S$2,800 covering legal fees and more.[1][2]
This cluster article dives into 2026 refinancing rates, steps, and strategies, linking back to our pillar guide on Singapore Mortgage Refinancing for full coverage. Homejourney prioritizes your safety with verified rates, Singpass integration, and multi-bank applications to help you switch mortgage banks confidently.
Why Refinance in 2026? Current Market Snapshot
Interest rates have hit 3-year lows, with 3-month SORA at 1.34%, driving HDB owners and private property holders to refinance from HDB's 2.6% or high fixed rates (3-4%) to bank loans at 1.55%-1.8%.[2][5] Banks compete fiercely, offering subsidies that often leave you with cash in hand after costs.
For a S$500k loan, switching could save S$3,600 in year one versus HDB loans.[2] Refinancing volumes surged in 2025 and remain strong into 2026, though moderating mid-year as early refinancers lock in.[2] Use Homejourney's bank rates page to compare live rates from all major banks.
Refinancing vs Repricing: Key Differences
Refinancing means switching banks for better rates, features, and rebates; repricing stays with your current bank but often at worse terms (S$800-S$1,000 fee).[3] Choose refinancing for access to promotions like free conversion after 12 months and higher rebates.[1][4]
Quick Comparison Table:
| Aspect | Refinancing | Repricing |
|---|---|---|
| Rates | 1.35%-1.8% + rebates | Higher, limited options |
| Costs | Subsidized (legal/valuation) | Admin fees S$800+ |
| Flexibility | Multi-bank packages | Same bank only |
Learn more in our cluster: Refinancing vs Repricing: Which is Better for You? | Homejourney .
Top Bank Refinancing Rates & Promotions 2026
Here's the best bank refinancing rates comparison 2026 for HDB/private properties (min S$400k-S$2M).[1]
- DBS/POSB: 1.48% (2-yr fixed, FC24), rebate S$2,000-S$2,800 (S$1M+ loans).[1]
- OCBC: 1.55% floating (SORA+), FC12, rebate S$2,300.[1][2]
- UOB: 1.5% (3-yr fixed), waiver on sale, S$2,000 rebate.[1]
- HSBC/SCB: 1.35%+ (select loans), FC12, S$2,300 rebates.[1]
- Maybank/Citi/CIMB/RHB/Public/Hong Leong: Competitive SORA packages from 1.4%, min S$500k.[1]
Rates pegged to SORA (1.34% as of late 2025), expected 1.3-1.4% into 2026.[2] Compare instantly on Homejourney bank-rates.
Understanding SORA & Rate Trends
SORA (Singapore Overnight Rate Average) is the key benchmark for floating loans, down from 3.6% in 2023 to 1.34% now.[2] Fixed rates offer stability (1.48-1.6%), ideal post-lock-in.[5]
The chart below shows recent interest rate trends in Singapore:
As seen, rates trended down sharply; expect modest further drops in 2026 if US Fed cuts continue.[2] Track live SORA on Homejourney.
How to Calculate Savings & Break-Even
Subtract new monthly payment from current: e.g., S$500k loan at 3% (S$2,108/m) to 1.5% (S$1,668/m) saves S$440/m.[2] Break-even: (Legal S$2k + valuation S$500 - rebate S$2,300) / monthly savings = negative costs (profit!). Factor 2-3% clawback if early exit.[1]
Actionable formula: Break-even months = Total costs / Monthly savings. Use our refinancing calculator. See How to Calculate If Refinancing Is Worth It | Homejourney .
Refinancing Steps: How to Refinance in Singapore
Follow these refinancing steps for a smooth refinance process:
- Check eligibility: Loan <6 months old? Out of lock-in? Use Homejourney calculator.
- Compare rates: Via .
- Apply: One form on Homejourney submits to all banks via Singpass – instant verification.
- Valuation & approval: 2-4 weeks; banks cover fees + rebate.
- Legal completion: Switch complete, funds disbursed.
Timeline: 3-6 weeks. Full guide: Step-by-Step Guide to Refinancing Your Mortgage in Singapore | Homejourney . Watch hidden costs: Hidden Costs in Refinancing Mortgage: Step-by-Step Guide | Homejourney .
Tips to Get the Best Rates & Timing
- Refinance post-lock-in to avoid penalties.[5]
- Negotiate: Let banks bid via Homejourney's multi-offer system.
- Time for low SORA (now ideal).[2]
- Combine with property search on Homejourney property search.
Disclaimer: Rates change; consult Homejourney mortgage brokers. Not financial advice; verify with MAS/HDB guidelines.
FAQ: Best Bank Refinancing Rates 2026
What are the best refinancing rates in 2026?
Top rates from 1.35% (S$500k+), with DBS/OCBC/UOB leading at 1.48-1.55% + S$2k+ rebates.[1][2]
How to refinance my HDB loan?
Switch to banks via Homejourney; note: can't revert to HDB. Saves vs 2.6% HDB rate.[2][3]
What's the refinance application process?
Submit once on Homejourney – get offers from DBS, UOB, etc. Singpass speeds it up.
Is now a good time to switch mortgage bank?
Yes, with SORA at 1.34% and subsidies; activity peaks early 2026.[2]
How much rebate can I get?
S$2,000-S$2,800 for S$500k-S$1.5M+ loans, covering all costs.[1]
Ready to save? Start your best bank refinancing rates comparison 2026 on Homejourney bank-rates. Calculate, compare, apply – safely and transparently. Link back to our pillar for more: Singapore Mortgage Refinancing Guide.
