Best Bank Refinancing Rates Comparison 2026: Homejourney
As of early 2026, the best bank refinancing rates comparison in Singapore starts from 1.12% for floating rates (1M SORA + 0%) and 1.30% for fixed rates, with cash rebates up to $2,800 covering costs like legal fees.[1]
Homejourney makes it safe and simple to compare rates from DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong Bank, and Citibank in one place. This cluster article dives into 2026 refinancing specifics, linking back to our pillar guide on Singapore Mortgage Strategies 2026 for full coverage.
Why Refinance in 2026? Lower Rates Mean Real Savings
Singapore's home loan rates have hit 3-year lows, with 3-month SORA at 1.34% as of late 2025, driving HDB owners and private property holders to refinance from HDB's 2.6% rate or high fixed rates.[2]
Save money refinancing by switching: On a $500,000 loan, dropping from 3% to 1.5% cuts monthly payments by ~$700, or $16,800 yearly. Banks compete with rebates that often exceed costs, leaving excess cash.[1]
Floating rates pegged to SORA dominate, but fixed options provide stability. Homejourney's real-time tracking helps you reduce mortgage payment strategically.
Refinancing vs Repricing: Key Differences
Refinancing switches banks for better rates; repricing stays within your bank but often at worse terms with $800-$1,000 fees.[3]
Choose refinancing for lower interest rate access across lenders. Learn more in our guide: Refinancing vs Repricing: Which Saves You More Money in 2026? .
- Refinancing pros: Wider options, subsidies up to $2,800, flexibility like free conversion (FC12/24/36).[1]
- Repricing pros: Simpler, lower upfront costs but limited packages.[3]
Once you leave HDB loans, you can't return—verify eligibility on Homejourney's bank rates page.[2]
Top Bank Refinancing Rates Comparison 2026
Here's a snapshot of leading packages (min. loan $400k-$2M, conditions apply):[1]
| Bank | Rate | Lock-in | Rebate (Refi) | Min Loan |
|---|---|---|---|---|
| DBS | 1.30% fixed / 1.12% float | 2-3 years | $2,000-$2,800 | $500k |
| OCBC | 1.48% fixed | 2 years | $2,000-$2,800 | $400k |
| UOB | 1.50% fixed | 3 years | $2,000 | $500k |
| HSBC/Std Chart | Competitive float | 2 years | $2,300 | $500k |
Rates from partners like Maybank, CIMB suit investors. Compare live on Homejourney—submit one app via Singpass for multiple offers.
Understanding SORA and Rate Trends
SORA (Singapore Overnight Rate Average) benchmarks most floating loans; 3M SORA at 1.34% enables packages like 1M SORA +0%.[2]
The chart below shows recent interest rate trends in Singapore:
Rates fell sharply into 2026, but moderation expected mid-year as 2023-24 lock-ins end.[2] Track live on Homejourney to time your move.
Break-Even Analysis: Cut Mortgage Costs Smartly
Calculate break-even: (Refi costs - rebate) / Monthly savings = months to recoup. Example: $3,000 costs - $2,500 rebate = $500 net; $700 savings = ~1 month break-even.[1]
Use Homejourney's refinance savings calculator for your numbers. Factor hidden costs—see Hidden Costs of Mortgage Refinancing You Need to Know | Homejourney .
- Input loan amount, current rate, new rate.
- Add fees/rebates.
- Get personalized savings projection.
Real example: HDB $400k at 2.6% to POSB bank loan saves $3,600/year.[2]
Step-by-Step Refinancing Guide 2026
1. Check lock-in expiry (avoid penalties).[4]
2. Compare on Homejourney: Rates, rebates, features.
3. Use Singpass for app—auto-fills data, connects to DBS/OCBC/UOB+.
4. Banks bid; pick best offer (1-2 weeks).[1]
5. Legal/valuation (subsidized); complete in 4-6 weeks.
Timeline: Start 2-3 months pre-lock-in end. Docs: NRIC, income slips, property title (HDB/URA verified).
Negotiation Tips to Maximize Savings
Leverage competition: "Homejourney shows OCBC at 1.48%—can you match?" Rebates scale with loan size ($500k+: $2k).[1]
Combine with goals like renovations—link to Homejourney aircon services for post-refi upkeep. See How to Save Money Refinancing Your Mortgage: Homejourney Guide .
- Ask for FC waivers on sale.
- Target $1M+ loans for $2,500+ rebates.
- Monitor SORA peaks for fixed switches.
Disclaimer: Rates change; not financial advice. Consult Homejourney brokers or MAS guidelines.
FAQ: Best Bank Refinancing Rates 2026
Q: What's the lowest refinancing rate in 2026?
A: 1.12% floating (1M SORA+0%), 1.30% fixed; check Homejourney for updates.[1]
Q: How much can I save refinancing $800k loan?
A: ~$12,000/year dropping 3% to 1.5%; use our calculator.[2]
Q: HDB to bank refinancing—worth it?
A: Yes if rates <2.6%; can't revert. Steady demand in 2026.[2]
Q: Costs covered?
A: Yes, rebates $2k-$2.8k offset legal/valuation.[1] Details: Hidden Costs of Refinancing Your Mortgage: What Homejourney Users Need to Know .
Q: Best time to refinance?
A: Post-lock-in, when SORA dips. Mid-2026 may moderate.[2]
Ready to cut mortgage costs? Start your best bank refinancing rates comparison 2026 on Homejourney. Compare, calculate savings, apply once—banks compete for you. For full strategies, visit our pillar: Singapore Mortgage Guide 2026. Trust Homejourney for safe, verified property decisions.
