Best Bank Refinancing Rates Comparison 2026: Homejourney Guide

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In 2026, the best bank refinancing rates in Singapore start from as low as 1.09% floating (1M SORA + 0%) and 1.30% fixed, with cash rebates up to $2,800 covering costs for many homeowners[2][3]. Homejourney makes it safe and simple to compare rates from DBS, OCBC, UOB, HSBC, Standard Chartered, and more in one trusted platform, prioritizing your security with Singpass integration.

This cluster article dives into the best bank refinancing rates comparison 2026, building on our pillar guide to Singapore home loans. You'll get actionable steps to evaluate options, calculate real savings, and avoid pitfalls like hidden fees refinance.

Refinancing Fundamentals: When It Beats Repricing

Refinancing means switching your home loan to a new bank for better rates or terms, unlike repricing which stays with your current bank[1][5]. In 2026, with 3-month SORA at 1.34%—a 3-year low—bank loans beat HDB's 2.6% rate, driving more HDB owners to refinance[3].

Repricing suits if your bank offers competitive packages post-lock-in (often free after year 1-3), but refinancing unlocks wider options and promotions like $2,000-$2,800 cash rebates[2][3]. For example, a $500k loan above gets $2,000 rebate, offsetting costs[2]. Learn more in our Refinancing vs Repricing: Which Saves You More Money in 2026? ">Refinancing vs Repricing guide.

Current Best Bank Refinancing Rates 2026

As of February 2026, top rates include floating from 1.09% (1M SORA +0%) and fixed at 1.30%-1.55%, with packages like 2-year fixed at 1.48% p.a. with free conversion[2][3]. Banks like DBS, OCBC, and UOB lead with SORA-linked floats and rebates.

Compare on Homejourney: Visit Homejourney bank rates to see live comparisons from 11+ partners including HSBC, Maybank, CIMB, RHB, Public Bank, Hong Leong, and Citibank. Our platform verifies rates in real-time for trusted decisions.

The chart above shows recent SORA trends, with rates dropping sharply since early 2025, making now ideal for refinancing before mid-2026 moderation[3].

Refinancing Costs: Legal Fees, Valuation Fee & Clawback Penalty

Refinancing costs average $2,000-$5,000 but are often subsidized: legal fees (~$2,000-$3,000), valuation fee ($500-$1,500 for HDB/private), and processing (~$200-$500)[1][6]. For HDB loans over $250k, many banks cover all fees[1]. Watch clawback penalty if switching within lock-in (2-5% of loan), and hidden fees refinance like admin charges.

Real example: Refinancing a $800k HDB loan from 3% to 1.5% saves $1,200/month, but factor $3,000 costs—break-even in 3 months. Use our mortgage calculator for personalized math. Details in Hidden Costs of Refinancing You Need to Know | Homejourney ">Hidden Costs guide.

Step-by-Step Guide to Refinancing in 2026

Check Eligibility: 4 months before lock-in ends. Use Homejourney's eligibility calculator via Singpass for instant verification.
Compare Rates: On Homejourney bank-rates, submit one form—get offers from DBS, OCBC, UOB, etc., simultaneously.
Calculate Savings: Factor refinancing costs. See How to Calculate If Refinancing is Worth It | Homejourney ">How to Calculate If Refinancing is Worth It.
Apply: Legal/valuation (1-2 weeks), bank approval (2-4 weeks). Total timeline: 1-2 months.
Close: Banks compete—negotiate rebates. Track SORA live on Homejourney.

Homejourney's multi-bank submission saves time, with mortgage brokers for guidance in a safe environment.

Timing & Money-Saving Tips for 2026

Refinance in year 4+ when spreads rise[1]. With rates at lows, act before mid-2026[3]. Tips: Negotiate via Homejourney (banks bid), seek $2k+ rebates, combine with property search on Homejourney property search.

Insider Tip: HDB owners—bank loans now <1.8% vs 2.6%, but can't revert[3].
Track real-time SORA on Homejourney.
Avoid clawback: Wait out lock-in.

Disclaimer: Rates fluctuate; consult professionals. Homejourney verifies data for trust, not financial advice.

FAQ: Best Bank Refinancing Rates Comparison 2026

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

How much are refinancing costs in Singapore?
$2k-$5k, often subsidized. Includes legal fees refinancing ~$3k, valuation fee $1k[1][6].

What's the clawback penalty?
2-5% of loan if early switch. Check lock-in first[1].

Is refinancing worth it for HDB?
Yes if >$250k loan—fees covered, rates <2.6%[1][3].

How to get the best deal?
Use Homejourney's one-click multi-bank apply for competing offers.

Ready to save? Compare best bank refinancing rates comparison 2026 now on Homejourney bank-rates and link to our pillar home loan guide for full coverage. Your trusted partner for safe property decisions.