Best Bank Refinancing Rates Comparison 2026: Homejourney Guide
In 2026, the lowest refinancing rates in Singapore start from 1.09% for floating SORA-linked packages and 1.30% for fixed rates, with banks like DBS, OCBC, and UOB offering competitive deals including cash rebates up to $2,800[2][1]. Homejourney provides a safe, trusted platform to compare these rates from all major banks in one place, helping you avoid hidden fees and maximize savings.
Why Refinancing Matters in 2026's Low-Rate Environment
With SORA rates at 3-year lows around 1.34% for 3-month packages, more HDB and private property owners are refinancing to bank loans cheaper than HDB's 2.6% rate[3]. This cluster focuses on the best bank refinancing rates comparison 2026, building on our pillar guide to Singapore home loans. Homejourney prioritizes your safety by verifying rates in real-time and offering multi-bank applications via Singpass for transparent decisions.
Refinancing switches your loan to another bank for better rates, unlike repricing which stays with the same bank and costs $800-$1,000[4][1]. In 2026, expect healthy refinancing activity early in the year, moderating mid-year as lock-ins expire[3].
Current Best Bank Refinancing Rates Comparison 2026
Homejourney compares rates from DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong, and Citibank. Top packages include floating rates from 1M SORA + 0% (effective 1.09%) and fixed at 1.30%-1.55% with free conversion options[2][3].
Visit Homejourney's bank rates page to see live comparisons and calculate savings. Banks subsidize HDB refinancing fees for loans over $250,000, plus cash rebates covering legal and valuation costs[1].
| Bank | Lowest Rate (2026) | Cash Rebate (Refi) | Key Features |
|---|---|---|---|
| DBS/OCBC/UOB | 1.09%-1.30% | $2,000-$2,800 | SORA floating, FC12/24 |
| HSBC/Standard Chartered | 1.48%-1.55% | $2,300 | Fixed 2-yr, free repricing |
| Maybank/CIMB | 1.35% p.a. | $2,000+ | EMI packages, subsidies |
Understanding SORA and Rate Trends for Refinancing
SORA (Singapore Overnight Rate Average) is the key benchmark for floating loans, with 3M SORA at 1.34%—its lowest in three years[3]. Track live rates on Homejourney to time your switch perfectly.
The chart below shows recent interest rate trends in Singapore:
As seen in the chart, rates have trended down since 2025, favoring refinancing now before potential stabilization mid-2026[3][9]. Use Homejourney's refinancing calculator for personalized projections.
Refinancing Costs: Legal Fees, Valuation, Clawback Penalty & Hidden Fees
Beyond rates, factor in refinancing costs: legal fees ($2,000-$3,000, often subsidized), valuation fee ($500-$1,500), and clawback penalty if switching early (up to 1.5% of loan)[1][5]. Hidden fees refinance traps include processing charges—banks cover most for HDB loans over $250k[1].
Break-even example: Save 0.5% on $500k loan ($2,083/yr), but $3,000 costs mean 1.5-year break-even. Read our for details.
Step-by-Step Guide to Refinancing in 2026
- Check Eligibility: 6+ months from lock-in end; use Homejourney calculator.
- Compare Rates: On Homejourney bank-rates, submit one app to all banks via Singpass.
- Gather Docs: NRIC, property title, income proof, current loan stmt[1].
- Apply & Negotiate: Receive competing offers; aim for higher rebates.
- Close Deal: 4-6 weeks; banks handle legal/valuation[5].
Start 4 months before renewal for best deals[1]. Link to our pillar on .
Money-Saving Tips for Best Refinancing Deals
- Refi in year 4+ when spreads widen[1].
- Try free repricing first[4].
- Negotiate: Leverage offers from multiple banks via Homejourney.
- Target $1M+ loans for excess rebates[2].
- Combine with property search on Homejourney property search.
Calculate if worth it via How to Calculate If Refinancing is Worth It | Homejourney . Disclaimer: Rates change; consult professionals. Homejourney verifies data for trust.
FAQ: Best Bank Refinancing Rates Comparison 2026
What are the best refinancing rates in 2026?
Floating from 1.09% (SORA+0%), fixed 1.30%+ with rebates[2]. Compare on Homejourney.
Are there hidden fees in refinancing?
Yes: legal (~$2k, subsidized), valuation ($1k), clawback (if early). Banks cover most[1].
Refinancing vs repricing?
Refi to new bank (better rates, costs); repricing same bank (cheaper, limited)[4]. See Refinancing vs Repricing: Which Saves You More Money in 2026? .
Can I refinance HDB loan?
Yes, to banks at lower rates, but can't revert to HDB[3].
How to apply?
Use Homejourney: One app, multiple offers, Singpass verified.
Secure the best bank refinancing rates comparison 2026 today on Homejourney bank-rates. Our platform ensures safety, transparency, and maximum savings—apply now and let banks compete for you!
