When you want to compare Singapore bank mortgage rates in one place, the safest and most efficient way is to use a verified bank rate comparison tool like Homejourney’s mortgage rate comparison app, which pulls updated packages from major banks (DBS, OCBC, UOB and others) and standardises them so you can compare rates, fees, and lock-in terms side by side.
This article is a focused FAQ that builds on our main Homejourney mortgage pillar guide Compare Singapore Bank Mortgage Rates in One Place | Homejourney . Here, we zoom in on how to compare bank rates Singapore-wide, what to look out for when assessing DBS, OCBC, UOB rates and other banks, and how to use Homejourney’s tools safely to get the best mortgage rates for your situation.
How does Homejourney help me compare Singapore bank mortgage rates in one place?
Homejourney’s bank rate comparison feature lets you see rates from all major home loan banks in Singapore on a single screen, with key details clearly broken down so you can compare like-for-like.
Instead of clicking through multiple bank websites, you can use Homejourney’s bank rate comparison tool to:
- View current SORA-pegged, fixed and board rate packages across DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong Bank and Citibank at a glance.
- Filter by property type (HDB vs condo vs landed), purpose (new purchase vs refinancing), and tenure.
- See key conditions such as lock-in period, minimum loan amount, and free conversion or repricing options.
- Estimate monthly instalments based on your loan size and tenure using Homejourney’s calculators.
For example, if you’re buying a 4-room BTO in Punggol with a loan of about S$380,000 over 25 years, Homejourney lets you quickly see how a 1.45% fixed-rate package compares with a 1-month SORA + 0.35% floating package in terms of monthly cash/CPF outlay and long-term interest costs.
You can access this via Homejourney’s bank rates page Bank Rates and easily switch between HDB and private property scenarios. If you’re still shopping for a unit, you can cross-check financing implications directly from listings via Property Search and project details via Projects Directory .
What types of mortgage rates can I compare (SORA, fixed, board rates)?
In Singapore, most bank home loans fall into three main categories: SORA-pegged floating rates, fixed rates, and board or internal benchmark rates. Understanding them is crucial before you compare offers.
1. SORA-pegged floating rates
From 2021 onwards, banks progressively moved from SIBOR to SORA (Singapore Overnight Rate Average) for floating home loans in line with MAS guidelines, and new packages today are largely SORA-based.[2] SORA is a transparent benchmark published by MAS, reflecting actual overnight interbank SGD funding costs.
A typical SORA home loan is expressed as:
1M SORA / 3M SORA + spread (for example, 3M SORA + 0.40% per annum).
Homejourney lets you compare:
- 1-month SORA packages (rates adjust monthly, more responsive to market changes).
- 3-month SORA packages (rates adjust quarterly, slightly smoother but still market-linked).
- Promotional SORA spreads offered by different banks (e.g. +0.25% to +0.50% range for 2025 promotional packages, depending on bank and profile).[1]
Homejourney also tracks SORA movements in real time so you can see if rates are trending up or down before locking in your decision, via its real-time SORA tracking feature.
2. Fixed-rate packages
Fixed packages give you a stable interest rate (e.g. 1.55% per annum) over a defined lock-in period, usually 2–5 years. In late 2025, headline fixed rates from major banks often range around 1.4%–1.8% per annum for new purchases and refinancing, depending on loan size and tenure.[1][3]
For risk-averse HDB upgraders moving from a 2.6% HDB loan to a bank loan, fixed rates can feel more comfortable because you know exactly what your instalment will be during the lock-in period.
3. Board or internal benchmark rates
Some banks offer home loans pegged to an internal “board rate” or fixed deposit rate. These are set by the bank and may not move in tandem with SORA or published market benchmarks.[2]
While these packages can sometimes start attractively, they are less transparent, so you should pay close attention to how often the rate can be revised and by how much.
Homejourney’s comparison interface clearly labels each package type (SORA, fixed, board) and explains the implications in plain language, so first-time buyers can compare without needing to memorise financial jargon.
What are DBS, OCBC and UOB mortgage rates like compared to other banks?
DBS, OCBC and UOB dominate the Singapore home loan market, but foreign banks and regional banks like HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong Bank and Citibank often run aggressive promotions that can be competitive or even lower for certain profiles.
As of late 2025, market data sources indicate:
- Fixed rates for established local banks commonly fall in roughly the 1.4%–1.8% range for 2–3-year lock-in packages.[1][3]
- Floating SORA spreads can be around +0.25% to +0.50% over 1M or 3M SORA, depending on the bank, loan amount, and whether it is a purchase or refinancing.[1]
- Some regional banks periodically price slightly below the big three for specific tenures or loan sizes, as part of limited-time promotions.[1][5][6]
Instead of chasing one “cheapest” bank, Homejourney encourages you to compare effective costs across all partner banks, including:
- Interest rate across the lock-in period.
- Free legal / valuation subsidies and potential clawbacks.
- Waiver of penalty for sale vs full refinancing penalty.
- Flexibility for future partial repayments or adjustments.
For example, a 2-year fixed package from Bank A at 1.55% might appear more attractive than Bank B at 1.60%, but if Bank B offers full legal subsidy and a free conversion after year 2, your 5-year cost could be lower. Homejourney’s interface and advisory notes make these trade-offs clear so you are not misled by headline rates.
How does Homejourney’s multi-bank application and MyInfo integration work?
Once you have shortlisted a few attractive packages on the mortgage rate comparison app, Homejourney lets you submit one common application that can be securely shared with multiple banks.
- Profile & affordability check
Key details such as income, age, CPF balances and existing liabilities are gathered so we can estimate your maximum Loan-to-Value (LTV) and Total Debt Servicing Ratio (TDSR) based on MAS rules. - MyInfo via Singpass
With your consent, Homejourney can pull verified data (NRIC, income, CPF contributions, NOA) via MyInfo to auto-fill forms, reducing errors and speeding up approval. - Multi-bank submission
You choose which banks to approach (e.g. DBS, OCBC, UOB plus one or two foreign banks). Homejourney prepares a clean, standardised application and sends it to your chosen banks. - Banks compete for your business
Banks respond with their offers and any conditional approvals. You can then compare the offers side by side in Homejourney’s dashboard, including rate, subsidies and conditions.
This process reduces repeated paperwork and lowers the risk of mistakes (such as inconsistent income declarations), which protects your credit profile and improves your approval chances.
What should I look out for when comparing best mortgage rates in Singapore?
Comparing the best mortgage rates cannot be done on headline rate alone. As someone who has guided many first-time buyers in heartland estates like Sengkang and Tampines, I see the same mistakes repeatedly—focusing only on the first-year rate and ignoring total cost and flexibility.
