Best Banks for Mortgage Refinancing Singapore 2026 | Homejourney
The definitive guide to top banks refinancing in Singapore for 2026, featuring DBS OCBC UOB refinance offers and refinancing rates comparison. Homejourney prioritizes your safety and trust by verifying all data to help you secure the best bank refinance Singapore deals confidently.
With interest rates at 3-year lows, now is prime time for refinancing. This pillar covers everything from SORA trends to step-by-step processes, custom savings calculators, and exclusive Homejourney tools like multi-bank applications at Homejourney bank rates.
Table of Contents
- 1. Refinancing Fundamentals: Repricing vs Refinancing
- 2. When to Refinance Your Mortgage in 2026
- 3. Best Refinancing Rates Comparison 2026
- 4. Top Banks for Refinancing: DBS, OCBC, UOB & More
- 5. Break-Even Analysis & Hidden Costs
- 6. Step-by-Step Refinancing Guide
- 7. Negotiation Strategies & Cash Rebates
- 8. How Homejourney Simplifies Refinancing
- 9. FAQ: Best Bank Refinance Singapore
1. Refinancing Fundamentals: Repricing vs Refinancing
Refinancing means switching your home loan from one bank to another for better terms, unlike repricing which negotiates rates within the same bank.[1] For HDB owners, refinancing from HDB loans (2.6%) to bank loans at ~1.4-1.8% can save thousands annually.[3]
Repricing suits if your current bank offers competitive SORA packages without fees; refinancing shines for cash rebates up to $3,500 and lower spreads.[1][2] Homejourney's platform at bank-rates lets you compare both instantly.
Key Difference Table:
| Aspect | Repricing | Refinancing |
|---|---|---|
| Bank Switch | No | Yes |
| Costs | Low/No fees | Legal/Valuation (~$2-5K) |
| Rewards | Limited | Up to $3,300 cashback[1] |
Read more in our cluster: Refinancing vs Repricing: Which is Better for Singapore Homeowners? Homejourney
2. When to Refinance Your Mortgage in 2026
Optimal timing: 4 months before lock-in ends to avoid 1.5% penalties.[1] With 3M SORA at 1.34% (3-year low), HDB refinancers surged in 2025.[3] Expect moderation mid-2026 as 2023/24 loans refinance out.[3]
Insider tip: Year 4+ of loans often see rate hikes (e.g., SORA +0.25% to +1.00%).[1] Track via Homejourney's real-time SORA at mortgage calculator.
SORA (Singapore Overnight Rate Average) is the key benchmark since 2020, replacing fixed rates for most loans. It's floating, tied to actual interbank transactions per MAS.
The chart below shows recent interest rate trends in Singapore:
Rates dipped to 1.34% 3M SORA, driving refinancing waves like 2019-2020 (35-40% YoY jump).[3] For 2026, modest easing expected per Fed signals.[4]
3. Best Refinancing Rates Comparison 2026
As of Feb 2026, top packages: 1M SORA +0.25% (Year 1-2), thereafter 3M SORA +1.00%.[2] Fixed flexi at 1.40-1.60%.[2][4] HDB subsidies cover fees over $250K loan.[1]
Top Refinancing Rates Snapshot (Feb 2026):
| Package | Rate (p.a.) | Lock-in | Rebate |
|---|---|---|---|
| 1M SORA Float | 1.43% | 2Y | $2-3.5K |
| 2Y Fixed Flexi | 1.40% | 2Y | $1.8K+ |
| 3M SORA | 1.53% | 1Y | $3K |
Compare live at Homejourney bank-rates. See full comparison: Best Bank Refinancing Rates Comparison 2026: Homejourney
4. Top Banks for Refinancing: DBS, OCBC, UOB & More
DBS: Reliable Leader
DBS offers 1.6% 2Y fixed, saving ~$500/month vs 3% prior.[4] Features: Smart mortgage offset, free conversion post-12m.[2] Ideal for HDB upgraders.
OCBC: HDB Refinancing Surge
OCBC saw high 2025 HDB switches; packages from 1.55%.[3] Perks: Legal subsidy >$500K, valuation waiver.[2]
UOB: Flexible Packages
UOB's POSB HDB loan saves $3,600/Yr1 on $400K loan vs HDB.[3] Cash rebates $1-3.5K.[2]
Others: HSBC/Standard Chartered for expats (low spreads), Maybank/CIMB for rebates >$600K.[2] Homejourney compares all at bank-rates.
- DBS OCBC UOB refinance: Best for locals, up to 70% offset.
- Maybank/RHB: High rebates for private properties.
- Citibank/Hong Leong: Competitive SORA +0.25%.[1]
5. Break-Even Analysis & Hidden Costs
Break-even: Fees / Monthly Savings. E.g., $3K fees, $200/mo save = 15 months payback.[1] Factor clawback (1.5% if early sale), legal ($2K), valuation ($350-500).[2]
Example: $500K loan at 1.43% vs 2.6% HDB = ~$800/mo save, break-even ~4 months post-fees. Use Homejourney calculator: mortgage calculator.
Hidden costs detailed in: Hidden Costs in Refinancing Mortgage: Step-by-Step Guide Homejourney . LTV <80% boosts eligibility.[1]
Savings Calculator Example ($400K Loan):
- Old: 2.6% = $2,170/mo
- New: 1.43% = $1,570/mo
- Yr1 Save: $7,200 (post-rebate)
6. Step-by-Step Refinancing Guide
1. Check lock-in (wait if active).[1]
- Assess Eligibility: TDSR <55%, LTV rules via Homejourney calculator.
- Compare Rates: Homejourney.
- Gather Docs: NRIC, payslips, property title, current loan stmt.[1]
- Submit Multi-Bank App: One form via Singpass at Homejourney.
- Valuation/Legal: Bank appoints, subsidies apply.[2]
- Sign & Disburse: 2-4 weeks total.
Full guide: Step-by-Step Guide to Refinancing Your Mortgage in Singapore | Homejourney . Homejourney's Singpass speeds verification.
7. Negotiation Strategies & Cash Rebates
Leverage competing offers: "UOB quoted 1.40%, can you match?" Banks bid higher via Homejourney multi-app.[1] Target $3K+ rebates for >$500K.[2]
- Ask for valuation/legal full subsidy.
- Bundle with credit card/insurance for extras.
- Refi in Yr4+ for max savings.[1]
Calculate worth: How to Calculate If Refinancing is Worth It: Homejourney Guide .
8. How Homejourney Simplifies Refinancing
Homejourney builds trust with verified rates, one-click multi-bank apps to DBS/OCBC/UOB/HSBC etc. Track SORA live, calculate savings instantly.
- Compare refinancing rates safely at bank-rates.
- Submit once, get offers from all majors.
- Singpass for fast, secure processing.
- Post-refi: Search properties at property search.
Our brokers guide personally. After move, check aircon services for maintenance.
9. FAQ: Best Bank Refinance Singapore
Q: What are the best bank refinance Singapore rates 2026?
A: 1.40-1.53% SORA/fixed from DBS/OCBC/UOB. Compare at Homejourney.[2]
Q: DBS OCBC UOB refinance offers?
A: DBS 1.6% fixed, OCBC HDB surge, UOB $3.6K save on $400K.[3][4]
Q: Refinancing rates comparison for HDB?
A: Banks beat HDB 2.6%; subsidies over $250K.[1][3]
Q: How to calculate refinancing savings?
A: Fees / mo save = months to break-even. Use Homejourney tool.
Q: Top banks refinancing with cash rebates?
A: UOB/Maybank up to $3.5K for >$500K.[2]
Q: Can I refinance HDB to bank and back?
A: No, one-way to banks.[3]
Q: Best time for refinance 2026?
A: Pre-lock-in end, now at rate lows.[1][3]
Disclaimer: Rates change; not financial advice. Consult professionals. Homejourney verifies data for your safe decisions.
Start your best bank refinance Singapore journey at Homejourney bank-rates. Trust us for transparent, user-first support.
