DBS Home Loan Review: Current Rates and Fees Explained
DBS Bank offers some of Singapore's most competitive home loan packages, with fixed rates starting from 1.78% and SORA-pegged loans from 3M SORA + 0.32%.[1] As Singapore's largest bank by assets, DBS has significant advantages in mortgage pricing due to its substantial pool of Singapore dollar funding, making it an excellent choice for property buyers and refinancers looking for transparent, reliable financing options.
This Homejourney review breaks down DBS home loan rates, fees, and features to help you determine if DBS is the right lender for your property purchase or refinance. We've verified all current information to ensure you can make confident decisions about your home financing.
DBS Home Loan Products Overview
DBS provides home loan packages for both completed properties and buildings under construction (BUC), with options for HDB flats and private residential properties. The bank offers three primary rate structures: fixed-rate packages with lock-in periods, floating-rate packages pegged to 3M SORA, and FHR6-based loans for construction properties.
What sets DBS apart is their flexibility in loan customization and their commitment to zero-cost refinancing for loans exceeding $1 million, which effectively waives valuation fees—a significant advantage for larger refinancing transactions.[1]
Current DBS Fixed Rate Home Loans
DBS's fixed-rate packages lock in your interest rate for 2-3 years before converting to a floating 3M SORA rate. Here's what's currently available for completed properties:
- 2-Year Fixed Rate: 1.78% fixed for years 1-2, then 3M SORA + 1.00% thereafter[1]
- 3-Year Fixed Rate: 1.50% fixed for years 1-2, then 3M SORA + 1.00% from year 3 onwards[1]
- Minimum Loan Amount: $500,000 for the 2-year package; $700,000 for the 3-year package[1]
- Lock-in Period: 2 years for both packages[1]
Both packages include a 100% penalty waiver if you sell the property during the lock-in period, providing peace of mind if your circumstances change.[1] You can also switch to a floating 3M SORA + 0.32% rate anytime during the lock-in period without penalty.
DBS SORA Floating Rate Home Loans
For borrowers comfortable with interest rate fluctuations, DBS offers floating-rate packages pegged to the 3-month Compounded SORA (Singapore Overnight Rate Average). The 3M SORA rate is standardized across all Singapore banks at 0.1332% (as of February 2026), with DBS adding its spread on top.[3]
Current floating-rate spreads from DBS include:
- 3M SORA + 0.35% for years 1-2 (FHR6 alternative)
- 3M SORA + 0.60% standard floating rate[2]
- 3M SORA + 0.80% for certain customer segments[3]
The advantage of SORA-pegged loans is the waiver of commitment fees if you sell the property, making them attractive for those planning potential future moves.[2] However, your monthly repayment will fluctuate as the 3M SORA rate changes quarterly.
The chart below shows recent SORA trends to help you understand how rates have moved and what to expect:
As you can see from the chart, SORA rates have remained relatively stable in the lower range, making this an opportune time to lock in rates before potential increases.
Building Under Construction (BUC) Home Loans
For private properties still under construction, DBS offers specialized BUC packages with floating rates only. These include:
- FHR6-based loans: FHR6 + 0.30% to 0.40% during construction, then FHR6 + 0.45% post-completion[2]
- 3M SORA-based loans: 3M SORA + 0.25% during construction, then 3M SORA + 0.28% post-completion[2]
- Green Loan incentives: Special rates for energy-efficient properties
BUC loans are disbursed in stages as construction progresses, reducing your interest burden during the building phase since you only pay interest on the amount drawn down.
DBS Home Loan Fees and Charges Breakdown
Understanding the complete cost of your home loan means accounting for fees beyond the interest rate. DBS's fee structure is transparent and competitive:
- Valuation Fee: Typically waived for new loans and refinancing over $1 million[1]
- Processing Fee: $800 for refinancing with DBS[5]
- Refinancing Penalty: 1.50% of outstanding loan amount if refinancing with another bank; 0.75% of undisbursed amount[5]
- Legal and Conveyancing Fees: Approximately $4,000-$5,250 (varies by property value)[3]
- Stamp Duty: Approximately $54,600 for a $1 million property (not a bank fee, but a government charge)[3]
- Overdue Interest: 5% above DBS Prime Rate on overdue amounts[5]
For refinancing, DBS offers attractive cash rebates that offset some costs: $2,000 for loans over $500,000, $2,500 for loans over $1 million, and $2,800 for loans over $1.5 million.[1] These rebates make DBS particularly competitive for refinancing scenarios.
Real Example: Monthly Payment Calculation
To illustrate how DBS rates translate to actual monthly payments, consider this scenario: You're purchasing a resale HDB flat for $500,000 with a 25-year tenure using a 3M SORA + 0.80% loan.[3]
- Down Payment: $100,000 via CPF + $25,000 cash = $125,000 total (20% CPF, 5% cash minimum)
- Loan Amount: $375,000
- First Month Interest: ($375,000 × 0.94%) ÷ 12 = approximately $292
- Estimated Monthly Instalment: $1,600-$1,750 (depending on exact SORA rate)
- One-time Costs: $1,000 option fee + $4,000 option exercise fee + $5,250 legal fees = $10,250[3]
Your total cost over 25 years would include principal repayment, variable interest (as SORA fluctuates), and the one-time fees above. Using Homejourney's mortgage calculator, you can input your specific property price and down payment to see exact figures tailored to your situation.
DBS Home Loan: Who Should Choose This Bank?
DBS is ideal for you if:
- You're refinancing a loan over $1 million and want zero-cost refinancing with waived valuation fees
- You prefer competitive fixed rates with the security of locked-in payments for 2-3 years
- You have a smaller loan amount ($200,000+) and want preferential rates—DBS has the lowest minimum loan quantum among Singapore's big three banks
- You value a bank with strong digital banking features and established customer service infrastructure
- You're purchasing an HDB flat or private property and want flexibility to switch between fixed and floating rates
Consider other banks if:
- You want the absolute lowest introductory rates—some competitors offer slightly lower teaser rates, though DBS's total cost is often competitive
- You're seeking specialized loan products for commercial properties or unique financing scenarios
- You prefer a smaller bank with more personalized service (DBS's size means more standardized processes)
DBS Home Loan Application Process and Timeline
DBS streamlines the home loan application process with both in-branch and online options. Here's what to expect:
- Pre-approval: Submit basic financial information to receive an indicative loan amount within 1-2 business days
- Documentation: Provide payslips (last 3 months), income tax returns (last 2 years), CPF statements, and property documents
- Valuation: DBS arranges property valuation (often waived for refinancing over $1m)
- Final Approval: Typically 5-7 business days after complete documentation submission
- Disbursement: Funds released upon completion of legal formalities and property registration
To accelerate your application, use Homejourney's Singpass integration when applying through our bank-rates page—this auto-fills your personal and financial information in seconds, reducing manual paperwork and speeding up approval timelines.
Comparing DBS to Other Singapore Banks
DBS's competitive advantages include:
- Lowest minimum loan amount: $200,000 for HDB flats (OCBC and UOB require $300,000)
- Zero-cost refinancing: For loans over $1 million with valuation fee waiver
- Flexible rate switching: Change from fixed to floating during lock-in without penalty
- Strong digital platform: Comprehensive online banking and loan management tools
However, you should compare DBS's rates with OCBC, UOB, HSBC, and Standard Chartered to ensure you're getting the best deal for your specific situation. Homejourney's bank-rates comparison tool lets you see current rates from all major lenders side-by-side, helping you make an informed decision without visiting multiple banks.
Key Advantages of DBS Home Loans
- Competitive fixed rates: Starting from 1.78% for 2-year packages, among the best in the market
- Transparent fee structure: Clear, upfront costs with no hidden charges
- Penalty waivers: 100% waiver if you sell during lock-in period provides flexibility
- Refinancing incentives: Cash rebates up to $2,800 offset refinancing costs
- Established institution: Singapore's largest bank with robust customer support and digital infrastructure
Important Considerations and Disclaimers
Interest rates and fees are subject to change based on market conditions and individual eligibility. The rates quoted in this review are current as of February 2026 but may vary based on your credit profile, loan amount, and property type. DBS may offer "deviated rates" lower than publicly advertised rates for qualified borrowers—contact DBS directly or apply through Homejourney to inquire about personalized rates.
Your actual monthly payment depends on multiple factors including your loan tenure, down payment amount, property price, and prevailing interest rates at the time of disbursement. Always use a mortgage calculator to estimate your specific situation before committing.
This review is educational and not financial advice. Consult a financial advisor or mortgage broker to determine if DBS is appropriate for your circumstances, especially if you have complex financial situations or multiple properties.
How Homejourney Makes DBS Home Loans Easier
Homejourney is committed to making your home loan journey transparent, safe, and efficient. When evaluating DBS or any bank, use these Homejourney tools:
- Real-time rate comparison: See DBS rates alongside OCBC, UOB, HSBC, and other major banks instantly on our bank-rates page
- Mortgage eligibility calculator: Input your salary, down payment, and loan amount to see exactly how much you can borrow and your estimated monthly payment
- Multi-bank application: Submit one application and receive offers from multiple banks—let them compete for your business
- Singpass integration: Auto-fill your application using your Singpass credentials for faster processing
- Expert guidance: Connect with Homejourney's mortgage brokers who provide personalized recommendations based on your financial situation
Visit Homejourney's Bank Rates to compare DBS home loans with all other major Singapore banks, calculate your borrowing power, and apply for your loan with just one application.
