CIMB vs RHB Home Loan Singapore Comparison: How to Improve Approval Chances
When comparing CIMB vs RHB home loan options in Singapore, CIMB often edges out with slightly lower floating rates like 1M SORA + 0.25% for larger loans, while RHB appeals to those seeking fixed-rate stability around 1.35-2.4% for HDB properties. Homejourney prioritizes your safety by verifying rates from trusted partners like CIMB, RHB, DBS, and OCBC, helping you compare securely without visiting multiple banks.
This cluster article dives into the CIMB vs RHB home loan Singapore comparison, focusing on actionable steps to boost approval chances. It builds on our pillar guide, Local vs Foreign Bank Mortgage Singapore: DBS OCBC UOB vs HSBC SCB 2026 , by spotlighting Malaysian banks' advantages for Singapore buyers.
Why Compare CIMB and RHB? Key Differences for Singapore Buyers
CIMB and RHB, popular Malaysian bank mortgages in Singapore, offer competitive packages for HDB and private properties. As of February 2026, average rates hover at 1.1-1.3% post-SORA transition, lower than HDB's fixed 2.6%.
CIMB suits aggressive repricers with volatile but low SORA-pegged floats (e.g., 1M SORA + 0%), ideal for loans over S$1M. RHB provides generous cash rebates up to S$2,800 for refinances above S$1.5M, per bank promotions. Both have 75% LTV limits versus HDB's 80%, but banks demand 5% cash downpayment.
| Feature | CIMB | RHB |
|---|---|---|
| Lowest Floating Rate (Feb 2026) | 1M SORA + 0.25% (1.36% est.)[2] | 1M SORA + 0.50% (1.59% est.)[4] |
| Fixed Rate (2-3Y) | 1.35%*[2] | 2.40%[4] |
| Cash Rebate (Refi >S$1M) | S$2,000 | S$2,500[2] |
| Lock-in Period | 2 years | 2 years |
*Conditions apply; rates for loans >S$500k. Use Homejourney's bank rates page for live CIMB RHB comparison.
SORA Trends Impacting CIMB and RHB Loans
Most CIMB and RHB floating loans peg to SORA (Singapore Overnight Rate Average), replacing SIBOR by 2024 per MAS rules. SORA reflects real 8am-6:15pm transactions, making it less volatile than SIBOR.[1]
The chart below shows recent interest rate trends in Singapore:
Rates eased to 1.1-1.3% in 2026 from 4% peaks, favoring floating options from CIMB/RHB for short-term savings.[3]
Step-by-Step: How to Improve CIMB vs RHB Home Loan Approval Chances
Boost approval by 30-50% with preparation, per insider tips from Homejourney's mortgage brokers. Malaysian banks like CIMB/RHB scrutinize TDSR (60% debt cap) and credit more than locals.
- Check Eligibility First: Use Homejourney's mortgage calculator. Input income, CPF, debts—ensure TDSR under 55% for buffer. Example: S$8k monthly income limits commitments to S$4,800.[1]
- Gather Documents Early: Singpass-ready docs auto-fill via Homejourney: NRIC, last 3 months payslips, IR8A, CPF statements, bank statements. For self-employed, add ACRA biz profile.
- Optimize Credit Profile: Pay off cards (utilization <30%). Avoid new credit 6 months pre-application. CIMB favors scores >700; RHB is lenient on stable employment.
- Apply Multi-Bank via Homejourney: One Singpass submission hits CIMB, RHB, DBS, OCBC, UOB, HSBC. Track offers side-by-side—skip bank-hopping hassle.
- Time Your Application: Apply post-OTP (within 2 weeks) for HDB; banks valuate at market (e.g., S$600k Sengkang resale). Insider tip: Foreign banks approve faster (3-7 days) for expats ineligible for HDB.[3]
Documentation Checklist for CIMB/RHB Approval
- NRIC/Passport (Singpass verified)
- Income proof: Payslips (3m), Form B/IR8A
- CPF statements (last 12m) via CPF portal
- Bank statements (3-6m, no overdrafts)
- Property docs: OTP, title deed
- Debts: All loan statements
Pro tip: Clean statements 1 month prior—CIMB rejects >10% unexplained deposits.
Common Pitfalls and Pro Tips for Malaysian Bank Mortgages
Avoid TDSR traps: Factor rental income at 70% for investors. RHB rebates cover lawyer fees (S$2-3k), but break lock-in early (2% penalty).[2] CIMB suits BUC condos (e.g., Punggol launches) with progressive drawdowns.
Insider: Use Homejourney for real-time SORA tracking—apply when 3M SORA dips below 1.2%. Compare with locals via Local vs Foreign Bank Mortgage: DBS OCBC UOB vs HSBC SCB | Homejourney .
What to Expect: Timelines and Next Steps
Approval: 3-14 days (CIMB faster for salaried). Valuation: 3-5 days. Full process: 2-4 weeks pre-completion. Post-approval, legal completion at 14 days.
Homejourney tracks status, notifies offers. Refi? Check CIMB vs RHB Home Loan Singapore: 2026 Comparison | Homejourney .
FAQ: CIMB vs RHB Home Loan Singapore
Q: Which is better for first-time HDB buyers—CIMB or RHB?
A: CIMB for lower floats if risk-tolerant; RHB for rebates. Calculate via Homejourney bank-rates. Both beat HDB's 2.6%.[1]
Q: How does Singpass speed up CIMB/RHB applications?
A: Auto-fills income/CPF—cuts processing by 50%. Homejourney's multi-bank send boosts odds.
Q: Can expats get CIMB vs RHB loans?
A: Yes, major banks like CIMB/RHB serve expats (75% LTV). Verify EP/PR status first.[3]
Q: What's the approval rejection rate for Malaysian banks?
A: ~20% due to strict TDSR. Prep docs via Homejourney to improve chances.
Q: Should I lock fixed or go floating for CIMB RHB comparison?
A: Fixed (1.35%) for stability; floating for savings if SORA <1.3%. See chart above.
Disclaimer: Rates fluctuate; not financial advice. Consult Homejourney brokers. Homejourney verifies data for your trusted decisions.
Ready for the best CIMB vs RHB home loan Singapore comparison? Start with our eligibility calculator, apply multi-bank safely, and find properties at property search. Building trust one secure loan at a time.
