Best Bank Refinancing Rates Comparison 2026: Homejourney

In February 2026, the best bank refinancing rates in Singapore start from 1.30% fixed for Year 1 and 1M SORA + 0% (around 1.14%) for floating rates, with cash rebates up to S$2,800 covering most costs.[1]

At Homejourney, we prioritize your safety and trust by verifying rates from DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong, and Citibank. This cluster focuses on best bank refinancing rates comparison 2026, linking back to our pillar guide on Singapore home loans for comprehensive coverage. Use our bank-rates page to compare instantly and submit one application to all major banks.

Refinancing Fundamentals: When to Switch Mortgage Bank

Refinancing means switching your mortgage to a new bank for better rates, unlike repricing which stays with the same bank. In 2026, with 3M SORA at 1.34%—a 3-year low—HDB owners are refinancing from 2.6% HDB loans to bank rates of 1.55%-1.8%, saving thousands annually.[2]

Repricing suits if your lock-in ends soon and you want quick changes (1 month), but refinancing offers superior rates and rebates, taking 3 months but often netting cash after fees.[4] For example, on a S$500k loan, refinancing to 1.30% from 3% saves ~S$7,500 yearly, with S$2,000 rebates covering legal/valuation fees (~S$2,000).[1][2]

Read our detailed comparison in Refinancing vs Repricing: Which is Better for Singapore Homeowners? Homejourney ">Refinancing vs Repricing: Which is Better for Singapore Homeowners? Homejourney.

Current Best Bank Refinancing Rates Comparison 2026

As of early February 2026, top packages include:

• 1.30% Fixed (Year 1): 2-year lock-in, S$2,000 rebate for S$500k+ loans, free conversion after 24 months.[1]
• 1.50% Fixed (Year 1): 3-year lock-in, S$2,000 rebate, waiver on sale.[1]
• 1M SORA + 0.25% (~1.36%): 2-year lock-in, flexible for HDB/private properties.[1]
• DBS leads with competitive fixed rates due to strong SGD funding; OCBC sees high HDB refinancing volume.[1][2]

Banks like UOB, HSBC, and Standard Chartered offer similar 1.35%-1.78% packages with S$2,300 rebates for larger loans. Minimum loans range S$400k-S$2M; always check eligibility on Homejourney's bank-rates.[1]

SORA Trends Impacting 2026 Refinancing

SORA (Singapore Overnight Rate Average) is the key benchmark for floating loans, now at 1.34% for 3M—down from 3.6% in 2023—driving refinancing waves.[2] Expect modest further drops if US Fed cuts continue, but activity may moderate mid-2026 as 2023-2024 lock-ins expire.[2]

The chart below shows recent interest rate trends in Singapore:

As seen, rates hit 3-year lows, making now ideal for switch mortgage bank moves. Track live SORA on Homejourney to time perfectly.

Financial Analysis: Is Refinancing Worth It?

Calculate break-even: (Rate drop x Loan x Remaining tenure) minus fees, divided by monthly savings. Example: S$400k HDB loan at 2.6% to bank 1.6% saves S$360/month; break-even ~8 months with rebates.[2] For S$1M loan, S$2,500 rebate often leaves excess cash.[1]

Hidden costs: Legal (~S$1,500), valuation (~S$500), possible clawback if early exit. Banks reimburse most via rebates. Use our mortgage calculator or see Hidden Costs in Refinancing Mortgage: Step-by-Step Guide Homejourney ">Hidden Costs in Refinancing Mortgage: Step-by-Step Guide Homejourney.

Disclaimer: Rates fluctuate; consult professionals. Homejourney verifies data for trust, but past performance isn't indicative of future results.

Refinancing Steps: How to Refinance in Singapore

Follow these refinancing steps for a smooth refinance process:

1. Check eligibility: Use Homejourney's calculator for TDSR/LTV (max 75% bank loans).[5]
2. Compare rates: On Homejourney bank-rates, view DBS vs OCBC etc.
3. Prepare docs: NRIC, income proof, property title, Singpass for auto-fill.
4. Submit application: One form to multiple banks via Homejourney—faster processing.
5. Valuation & legal: New bank handles; expect 1-3 months.
6. Close & rebate: Receive cash post-completion.

Full guide: Step-by-Step Guide to Refinancing Your Mortgage in Singapore | Homejourney ">Step-by-Step Guide to Refinancing Your Mortgage in Singapore | Homejourney. Learn break-even in How to Calculate If Refinancing is Worth It: Homejourney Guide ">How to Calculate If Refinancing is Worth It: Homejourney Guide.

Money-Saving Strategies & Timing Tips

Negotiate: Leverage Homejourney's multi-bank submission—banks compete with better offers/rebates. Time post-lock-in to avoid penalties; act now before mid-2026 moderation.[2] HDB owners: Note no reverse to HDB loans.[2]

• Insider tip: Apply via Singpass on Homejourney for instant verification, saving weeks.
• Combine with property search on Homejourney property search for upgrades.

Our mortgage brokers provide personalized advice post-application.

FAQ: Best Bank Refinancing Rates Comparison 2026

What are the best refinancing rates in 2026?
Lowest: 1.30% fixed Year 1, 1M SORA+0% floating, with S$2,000+ rebates from DBS, OCBC, UOB etc.[1]

How to refinance my HDB loan?
Compare on Homejourney, submit via Singpass, get bank offers. Saves ~S$3,600/year on S$400k loan vs HDB 2.6%.[2]

Refinancing vs repricing?
Refinance for best rates/rebates across banks; reprice faster within-bank. See our pillar guide.

Costs of refinancing?
~S$2,000 fees, but rebates cover; calculate break-even <1 year.[1][4]

Best time to switch mortgage bank in 2026?
Now, with SORA lows; track on Homejourney before mid-year slowdown.[2]

Ready for the best bank refinancing rates comparison 2026? Visit Homejourney bank-rates to compare, calculate savings, and apply securely. Trust Homejourney for transparent, verified guidance—your safe path to property decisions. Link back to our pillar on Singapore mortgages for full insights.

References

1. Singapore Property Market Analysis 1 (2026)
2. Singapore Property Market Analysis 2 (2026)
3. Singapore Property Market Analysis 4 (2026)
4. Singapore Property Market Analysis 5 (2026)