Best Bank Refinancing Rates Comparison 2026: Homejourney Guide

The best bank refinancing rates comparison 2026 in Singapore starts with floating rates from 1.12% (1M SORA + 0%) and fixed rates from 1.30%, offered by banks like DBS, OCBC, and UOB, often with cash rebates up to S$2,800.

At Homejourney, we prioritize your safety and trust by verifying rates from official sources and helping you compare options securely. This cluster article dives into mortgage refinancing Singapore specifics, linking back to our pillar guide on Mortgage Refinancing Singapore 2026: Homejourney Ultimate Guide for full coverage.

Refinancing vs Repricing: Key Differences in 2026

Refinancing means switching your home loan to a new bank for better rates, while repricing stays with your current bank but changes packages. Refinancing typically yields lower rates and cash rebates, as banks compete fiercely—unlike repricing, which may cost S$800-S$1,000 in fees with less attractive terms.

Learn more in our detailed comparison: Refinancing vs Repricing: Which Saves You More Money in 2026? . For HDB owners, bank loans now beat HDB's 2.6% rate, with floating Sora-linked packages at 1.34%-1.8%.

Current Best Refinancing Rates: Top Bank Comparison

As of January 2026, here's a snapshot of competitive best bank refinancing rates for loans over S$500k:

• DBS/POSB: 1.30% fixed (2Y lock-in), S$2,000-S$2,800 rebates, free conversion after 12 months.
• OCBC: 1.48% fixed (2Y), cash rebates S$2,000+, popular for HDB refinancing.
• UOB: Floating 1M SORA + 0.5% (~1.62%), flexible features.
• HSBC/Standard Chartered: From 1.35% floating, rebates up to S$2,300 for S$1M+ loans.
• Maybank/CIMB/RHB: Competitive at 1.47%-1.55% for 3Y fixed, with waivers on sales.

Compare all rates instantly on Homejourney's bank rates page, featuring DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong, and Citibank.

Understanding SORA and Rate Trends for Refinancing

SORA (Singapore Overnight Rate Average) is the key benchmark for floating rates in Singapore, now at 3-month compounded ~1.34%, down from 3.6% peaks. This drop drives refinance home loan surges, especially for HDB flats ending 2022-2023 lock-ins.

The chart below shows recent interest rate trends in Singapore:

Rates hit 3-year lows, but experts predict moderation mid-2026. Track live 3M/6M SORA on Homejourney to time your when to refinance decision perfectly.

When to Refinance: Break-Even Analysis and Costs

When to refinance? If savings exceed costs within 2-3 years. Example: On a S$500k loan (25Y tenure), switching from 2.6% HDB to 1.5% bank saves ~S$500/month, or S$3,600/year—covering a family trip.

Calculate break-even: (Monthly savings x months to break-even) vs costs (legal ~S$2k-S$3k, valuation S$500-S$1k). Banks reimburse most via rebates. Use our refinancing calculator for personalized math. See full method: How to Calculate If Refinancing is Worth It | Homejourney .

Hidden costs like clawbacks (if early exit) apply—details in Hidden Costs of Mortgage Refinancing You Need to Know | Homejourney .

Step-by-Step Refinancing Guide on Homejourney

Follow these actionable steps for mortgage refinancing Singapore:

1. Check eligibility: Use Homejourney's calculator at https://www.homejourney.sg/bank-rates#calculator (TDSR compliant).
2. Compare rates: View best bank refinancing rates comparison 2026 on https://www.homejourney.sg/bank-rates.
3. Apply via Singpass: Submit one form to all banks—get multiple offers fast, no branch visits.
4. Review offers: Negotiate rebates (S$2k+ standard). Homejourney brokers guide you.
5. Legal/valuation: Bank covers fees; process takes 4-6 weeks.
6. Finalize: Track via Homejourney dashboard.

Homejourney's multi-bank system lets banks compete, maximizing your savings securely.

Money-Saving Tips and Negotiation Strategies

Negotiate by pitting offers: "UOB offers 1.4% + S$2.5k rebate—can you beat?" Aim for 0.1%-0.2% lower. Combine with goals like renovations—link to property search for upgrades or aircon services post-move.

Lock-in timing: Refinance post-lock-in to avoid penalties. For investors, prioritize free conversion options.

Disclaimer: Rates fluctuate; consult professionals. Homejourney verifies data but isn't financial advice.

FAQ: Common Refinancing Questions

What are the best bank refinancing rates in 2026?
Floating from 1.12%-1.47%, fixed 1.30%-1.55% across DBS, OCBC, UOB. Compare on Homejourney.

Is refinancing worth it for HDB loans?
Yes, if under 2.6%—savings S$3k+/year on S$400k loan. Can't revert to HDB.

Repricing vs refinancing—which is better?
Refinancing for new banks' rebates/rates; repricing for simplicity. See our guide.

How long does refinancing take?
4-6 weeks. Faster with Homejourney Singpass.

Can I refinance multiple properties?
Yes, TDSR applies per household. Use our calculator.

Ready to save? Start your refinancing guide at Homejourney bank rates—compare, calculate, apply safely. For full mortgage refinancing Singapore 2026 details, read our pillar: Mortgage Refinancing Singapore 2026: Homejourney Ultimate Guide .