Best Bank Refinancing Rates Comparison 2026 | Homejourney
Compare refinance rates from DBS (1.35%+), OCBC, UOB, HSBC, Standard Chartered and more for 2026 – the lowest rates in 3 years at around 1.34%-1.8% p.a., with cash rebates up to S$2,800 covering fees.[1][2]
With SORA at 3-year lows, now's the time for easy refinancing via Homejourney's one-click refinance tool. Our platform lets you compare refinance rates instantly and submit to multiple banks at once for the best offers.
Why Refinance Your Home Loan in 2026?
Singapore's home loan rates have dropped sharply, with 3-month SORA at 1.34% – the lowest in over three years.[2] HDB flat owners are switching from 2.6% HDB loans to bank packages at 1.55%-1.8%, saving thousands annually.[2]
Refinancing beats repricing (switching packages within the same bank) when lock-ins end, as new banks offer better rates plus S$2,000-$2,800 rebates that cover legal and valuation fees.[1][3]
Homejourney prioritizes your safety with verified rates from partner banks like DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong and Citibank. Start your simple refinance process here.
Refinancing vs Repricing: Key Differences
Refinancing means switching banks for lower rates and perks like cashback. It suits those out of lock-in periods, with costs offset by rebates.[1][4]
Repricing is staying with your bank but changing packages – cheaper (S$800-$1,000 fee) but often worse rates than new-to-bank offers.[3]
- Refinance if rates drop >0.5% and rebate covers fees (check via Homejourney refinancing calculator).
- Reprice for minor adjustments without switching hassle.
Read our guide: Refinancing vs Repricing: Which is Better? Homejourney Guide.
Top Bank Refinancing Rates & Promotions 2026
Leading packages for loans S$500k+ (rates as of early 2026):[1][2]
| Bank | Rate (p.a.) | Lock-in | Rebate | Min Loan |
|---|---|---|---|---|
| DBS | 1.35%+ | 2 years | S$2,000-$2,800 | S$500k |
| OCBC | 1.48% fixed (2yr) | 2 years | S$2,000+ | S$400k |
| UOB | 1.5% fixed (3yr) | 3 years | S$2,000 | S$500k |
| HSBC/SCB | 1.55%-1.8% | 2 years | S$2,300 | S$500k |
| Maybank/Citi | Competitive floating | 2 years | S$2,300 | Varies |
DBS leads with fixed rates from its SGD funding strength; floating SORA-pegged options ideal for 2026 lows.[1][2] Refinance with Homejourney to compare all in one dashboard.
SORA Trends Driving 2026 Refinancing
SORA (Singapore Overnight Rate Average) is the key benchmark for floating loans, now at 1.34% (3-month), down from 3.6% in 2023.[2]
Expect 1.3%-1.4% by year-end, extending the refinancing wave into 2026 – especially for HDB upgraders.[2]
The chart below shows recent interest rate trends in Singapore:
Rates could moderate mid-2026 as 2023-2024 loans refinance out, but rebates keep it attractive.[2]
Is Refinancing Worth It? Break-Even Calculation
Calculate savings: New monthly payment x 12 x months to break-even vs current.
Example: S$500k loan, 25 years left. Current 2.6% (S$2,200/mth) to 1.5% (S$1,900/mth) = S$300/mth save. Fees S$3k (rebated) = break-even in 10 months.
- Input into Homejourney calculator.
- Factor clawback (3 months interest if early exit).
- Aim for >0.5% drop + rebate.
Details in How to Calculate If Refinancing is Worth It.
Hidden Costs & How Rebates Cover Them
Legal fees (S$1,500-$2k), valuation (S$500), discharge (S$200) – but banks rebate S$2k+.[1] No HDB revert once switched.[2]
Tip: Refinance post-lock-in to avoid penalties. See Hidden Costs of Refinancing.
Step-by-Step Simple Refinance Process with Homejourney
Make easy refinancing reality:
- Compare: Use Homejourney to compare refinance rates from 11 banks.How to Use Homejourney Bank Rate Comparison: Step-by-Step Guide
- Calculate: Check savings & eligibility via Singpass.How to Use Homejourney Mortgage Calculator: 2026 Guide
- Apply: One-click to all banks – get competing offers.Benefits of Multi-Bank Application in One Click | Homejourney
- Track SORA: Time perfectly on our platform.
- Select & Close: Homejourney brokers guide you. Apply now.
Full ease: How Homejourney Makes Refinancing Easier. Singpass guide: Step-by-Step Singpass Guide.
Timing Your Refinance for Maximum Savings
Act when lock-in ends (common 2026 for 2023 loans).[2] Negotiate: Leverage offers from multiple banks via Homejourney's multi-submission.
Combine with property search on Homejourney property search or maintenance like aircon services.
FAQ: Best Bank Refinancing Rates 2026
What are the best bank refinancing rates in 2026?
DBS at 1.35%+, OCBC 1.48% fixed, with S$2k+ rebates. Compare on Homejourney.[1][2]
How much can I save refinancing a S$500k HDB loan?
S$3,600+ yearly switching from 2.6% HDB to 1.5% bank loan.[2]
Can I refinance from HDB to bank?
Yes, but no revert. Ideal if rates stay low.[2][3]
What's the easiest way to compare refinance rates?
Homejourney's one-click tool submits to DBS, UOB etc. simultaneously.
Is now a good time for refinancing in 2026?
Yes, SORA at 1.34%; activity healthy into mid-year.[2]
Disclaimer: Rates fluctuate; not financial advice. Consult Homejourney brokers or advisors. Data from MAS/HDB-aligned sources.[2] Homejourney verifies for trust.
Ready for the best bank refinancing rates comparison 2026? Compare & refinance with Homejourney today – safe, simple, savings-focused. Link to pillar: [Pillar on Singapore Home Loans 2026].
