Best Bank Refinancing Rates Comparison 2026: Homejourney

As of February 2026, the best bank refinancing rates comparison 2026 in Singapore shows floating rates starting from 1M SORA + 0% (around 1.14%) and fixed rates from 1.30% for loans over $500k, with cash rebates up to $2,800 covering costs like legal fees.[1]

Homejourney makes it safe and simple to compare these rates from DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong, and Citibank in one trusted platform. This cluster focuses on actionable refinancing steps and rate comparisons, linking back to our pillar guide on Singapore Mortgage Essentials for full coverage.

Why Refinance Your Home Loan in 2026?

Interest rates have dropped to 3-year lows, with 3-month SORA at 1.34%, making bank loans cheaper than HDB's 2.6% rate.[2] HDB flat owners and private property investors are switching for savings of $3,600+ annually on a $400k loan.[2]

Refinancing means switching mortgage banks for better rates, unlike repricing which stays with your current bank and often yields worse terms.[3] Banks now offer subsidies that turn refinancing profitable, even after costs.

At Homejourney, prioritize user safety by verifying rates daily and enabling one-click applications via Singpass. Start your secure comparison at Homejourney bank rates.

Top Refinancing Rates Comparison 2026

Here's a snapshot of leading packages for refinancing (min $400k-$2M loans, conditions apply):[1]

Lowest Floating: 1M SORA + 0% (1.14%), 2Y lock-in, $2,000-$2,800 rebate, FC24 option.
Fixed Options: 1.30%-1.55% for 2-3Y, with FC12/36, rebates $2,000-$2,800.
DBS leads fixed rates at competitive levels due to strong SGD funding.[1]

OCBC reports surging HDB refinancing activity.[2] Use Homejourney's tool to compare DBS vs OCBC vs UOB side-by-side and see real-time quotes.

Understanding SORA and Rate Trends

SORA (Singapore Overnight Rate Average) is the key benchmark for floating loans in Singapore, now at 1.34% for 3M – down from 3.6% peaks.[2] Expect modest further drops if US Fed cuts continue.

The chart below shows recent interest rate trends in Singapore:

Rates have fallen sharply since mid-2025, but moderation expected mid-2026 as 2023-2024 loans refinance.[2] Track live SORA on Homejourney to time your switch perfectly.

Refinancing vs Repricing: Key Differences

Refinancing switches banks for optimal rates (1.14%-1.8%), rebates, and features like free conversion.[1][2] Repricing within-bank costs $800-$1,000 with inferior packages.[3]

Learn more in our cluster: Refinancing vs Repricing: Which is Better for You? Homejourney . For HDB owners, note: once you switch to bank loans, no HDB return.[2]

How to Calculate If Refinancing Saves Money

Break-even: Compare rate drop vs costs (legal ~$2k-$3k, valuation ~$500; often subsidized).[1] Example: On $500k loan, drop from 3% to 1.5% saves $7,500/year; rebate $2k covers fees in months.[1]

Formula: Monthly savings = (Old rate - New rate) x Loan x (1/12). Use Homejourney refinancing calculator for instant results. See details in How to Calculate If Refinancing is Worth It: Homejourney Guide .

Hidden costs guide: Hidden Costs in Refinancing Mortgage Guide: Homejourney .

Refinancing Steps: How to Refinance in Singapore

Follow these refinancing steps for a smooth refinance process:

Check Eligibility: Ensure >6 months left on lock-in; calculate via Homejourney calculator.
Compare Rates: Use Homejourney to view best bank refinancing rates comparison 2026 from 11 banks.
Submit Application: One form on Homejourney submits to all major banks via Singpass – get competing offers fast.
Valuation & Legal: Bank reimburses fees; process takes 4-6 weeks.
Close & Save: Pocket rebate, enjoy lower payments.

Full how to refinance guide: Step-by-Step Guide to Refinancing Your Mortgage in Singapore | Homejourney . Homejourney's multi-bank system prioritizes your security with verified partners.

Timing Your Refinance Application & Negotiation Tips

Act post-lock-in to avoid penalties.[4] Mid-2026 moderation expected, so refinance now.[2] Negotiate: Leverage Homejourney offers from multiple banks for better rebates (up to $3,300).[8]

Insider tip: Apply during promotions; combine with property search on Homejourney property search for upgraders.

Homejourney: Your Trusted Refinancing Partner

Compare refinancing rates from DBS, OCBC, UOB and more on Homejourney. Submit one refinance application, let banks compete – no branch visits. Connect with our mortgage brokers for personalized advice.

We build trust through transparency: real-time rates, Singpass verification, and user feedback-driven updates. Pair with projects directory for investments or aircon services post-move.