Best Bank Refinancing Rates Comparison 2026: Homejourney Guide

The best bank refinancing rates in Singapore for 2026 start from as low as 1.09% for floating rates (1M SORA + 0%) and 1.30% for fixed rates, with cash rebates up to $2,800 from banks like DBS, OCBC, and UOB.[2] Homejourney makes it safe and simple to compare these rates from all major banks in one place, ensuring you get verified offers while prioritizing your financial security.

Refinancing switches your home loan to a new bank for better terms, unlike repricing which stays with the same bank.[1][4] In this cluster article, we dive into 2026 rates, costs, and strategies—linking back to our pillar guide on Singapore home loans for full coverage. Use Homejourney's tools at https://www.homejourney.sg/bank-rates to compare instantly.

Current Best Refinancing Rates in 2026

Singapore's home loan rates have hit 3-year lows, with floating SORA-linked packages at 1.34% (3M SORA) and fixed rates from 1.48%-1.80%, cheaper than HDB's 2.6%.[3] Banks are competing fiercely, offering subsidies for HDB refinancing over $250,000 and cash rebates covering legal fees.[1][3]

Here's a snapshot of top best bank refinancing rates comparison 2026 from Homejourney partners (as of Feb 2026; rates fluctuate—verify live on our platform):

DBS/POSE: 1M SORA + 0% (1.09%), rebate $2,000-$2,800 for loans >$500k[2]
OCBC: 2-yr fixed 1.48%, free conversion after Yr1, $2,300 rebate[2][3]
UOB: 3-yr fixed 1.50%, $2,300 rebate[2]
HSBC: Floating 1.55%, flexible features[3]
Standard Chartered: Competitive SORA +0.25%, high rebates[2]
Maybank, CIMB, RHB, Public Bank, Hong Leong, Citibank: From 1.30% fixed, up to $2,000 rebates—compare all on Homejourney.

These rates beat HDB loans, saving $3,600 yearly on a $400k loan.[3] Track real-time via Homejourney's SORA tools at https://www.homejourney.sg/bank-rates#calculator.

SORA Rates and 2026 Trends

SORA (Singapore Overnight Rate Average) is the key benchmark for floating loans, now at lows driving refinancing surges among HDB owners.[3] Most packages are SORA + bank spread (0%-0.40%).[8]

The chart below shows recent interest rate trends in Singapore:

Rates have dropped sharply since 2025, but experts predict moderation mid-2026 as 2023-2024 lock-ins expire.[3] Time your move 4 months before renewal to avoid hikes.[1]

Is Refinancing Worth It? Break-Even Analysis

Refinancing worth it if savings exceed costs within 2-3 years. Use Homejourney's refinance calculator for personalized math: On a $500k loan dropping from 3% to 1.5%, save $7,500/year—but factor refinancing costs ($2,000-$5,000: legal $1,500, valuation $500, clawback if early).[1][2]

Refinance break-even formula: (Monthly savings x 12) / Total costs = Break-even months. Example: $400/month savings, $3,000 costs = 7.5 months. Real HDB case: $400k loan saves $300/month net after rebates.[3] Check our detailed guide: How to Calculate If Refinancing is Worth It: Homejourney Guide .

Hidden fees like 1.5% clawback if inside lock-in can erase gains—always calculate first.[1] Homejourney verifies all offers transparently.

Refinancing vs Repricing: Key Differences

Repricing (same bank, $800-$1,000 fee) suits minor tweaks; refinancing (new bank) unlocks best rates but adds legal costs.[1][4] Free repricing post-lock-in often available.[3] For HDB-to-bank switches, note: no HDB return.[3][4]

Learn more in . Homejourney compares both seamlessly.

Step-by-Step Refinancing Guide 2026

Assess eligibility: 30% TDSR limit, good credit. Use Homejourney calculator.
Compare rates: Via Homejourney bank-rates—DBS, OCBC, etc.
Gather docs: NRIC, loan statements, income proof, title deed.[1]
Apply multi-bank: One Singpass submission on Homejourney gets offers from all banks—no branch visits.
Valuation & legal: Bank appoints valuer; lawyer handles ~2-3 months total.[1]
Close & save: Enjoy rebates covering costs.

Start 4+ years in to dodge hikes.[1] Insider tip: HDB owners in mature estates like Toa Payoh save most switching now.

Money-Saving Tips and Costs to Watch

Negotiate: Pit banks against each other via Homejourney's multi-offer system. Grab $2,000+ rebates for $500k+ loans.[2] Avoid pitfalls: Legal fees subsidized for HDB >$250k; watch processing fees $200-$500.[1]

Time post-lock-in (2-3 yrs typical).
Combine with cash-out if equity high (but higher costs—see Hidden Costs of Cash Out Refinancing Singapore: Homejourney Guide ).
Track SORA live on Homejourney.

Should I refinance? Yes if break-even <24 months and rates <2%.[3] Disclaimer: Not financial advice; consult pros. Homejourney prioritizes verified data for safe decisions.

Why Choose Homejourney for Refinancing

Homejourney builds trust with transparent comparisons, Singpass apps, and real-time rates from DBS to Citibank. Submit once, let banks compete—safer than branches. Link to properties in budget via https://www.homejourney.sg/search.

Our mortgage brokers guide you fee-free. Part of our pillar on Singapore home financing—explore full guide for HDB/upgrading details.

FAQ: Best Bank Refinancing Rates 2026

What are the best refinancing rates in 2026?
Floating from 1.09% (SORA+0%), fixed 1.30%+ with rebates.[2] Compare on Homejourney.

Is refinancing worth it now?
Yes for HDB owners—savings beat 2.6% HDB rate if break-even quick.[3] Use our calculator.

What are refinancing costs in Singapore?
$2k-$5k, often subsidized. Details in .

How long does refinancing take?
2-3 months; faster with Homejourney Singpass.

Can I refinance HDB loan?
Yes to banks, but no HDB return. Rates lower now.[3][4]

Ready for the best bank refinancing rates comparison 2026? Visit https://www.homejourney.sg/bank-rates to compare, calculate, and apply safely today. Homejourney: Your trusted partner for secure property journeys.