DBS vs OCBC Home Loans 2026: The Complete Comparison Guide

Choosing between DBS and OCBC for your Singapore home loan is one of the most important financial decisions you'll make. Both banks dominate Singapore's mortgage market, collectively holding a significant share of all residential loans. However, their products, rates, features, and eligibility criteria differ meaningfully—and understanding these differences could save you tens of thousands of dollars over your loan tenure.

At Homejourney, we prioritize your financial safety and trustworthiness above all else. We've verified current rates, analyzed actual loan features, and compared real-world scenarios to help you make a confident decision. This comprehensive guide breaks down everything you need to know about DBS vs OCBC home loans in 2026.

Table of Contents

• Executive Summary: DBS vs OCBC at a Glance
• DBS Home Loans: Market Position & Products
• OCBC Home Loans: Market Position & Products
• Current Mortgage Rates: January 2026
• Fixed vs SORA: Which Rate Type Suits You?
• Product-by-Product Comparison
• Key Features & Flexibility
• Eligibility & Approval Process
• Costs, Fees & Cash Rebates
• Who Wins? Property Type Analysis
• How to Apply Through Homejourney
• Frequently Asked Questions
• Next Steps: Your Homejourney

Executive Summary: DBS vs OCBC at a Glance

DBS emerges as the stronger choice for most borrowers in 2026, particularly those seeking competitive floating rates, substantial cash rebates, and flexible refinancing options. DBS's unique fixed-deposit-pegged floating rate (FHR6) and aggressive cash rewards ($2,000-$2,800 for refinancing) provide tangible advantages. The bank's acquisition of POSB and its largest network of Singapore dollar funding gives it pricing power that translates to competitive rates across all loan types.

OCBC appeals to borrowers who prioritize flexibility and partial prepayment options without penalties. While OCBC's headline rates are slightly higher than DBS, the bank's emphasis on customer choice and repricing flexibility attracts borrowers who value control over their loan terms. OCBC saw four in five customers opt for fixed-rate packages in 2025, reflecting strong demand for payment certainty.

The reality: Your best choice depends on your specific situation—loan amount, property type, risk tolerance, and financial goals. Both banks are safe, regulated choices. Homejourney's mortgage comparison tool lets you see rates from both banks instantly and compare them against 8+ other lenders.

DBS Home Loans: Market Position & Products

Why DBS Dominates Singapore's Mortgage Market

DBS Bank is Singapore's largest mortgage lender by market share. The bank's dominant position stems from several structural advantages: it acquired POSB (Post Office Savings Bank) in 1998 for S$1.6 billion, making it a household name across generations of Singaporeans. Today, millions of Singaporeans credit their salaries to DBS/POSB accounts, giving the bank unmatched distribution and customer stickiness.

More importantly for mortgage pricing, DBS controls the largest pool of Singapore dollar funding among local banks. This means DBS doesn't need to borrow funds from the interbank market as frequently as competitors—it can fund mortgages directly from customer deposits. This funding advantage directly translates to more competitive rates, particularly for floating-rate products.

In October and November 2025, DBS's POSB HDB loan saw take-up rates increase by 13 times compared to the start of the year, demonstrating strong customer demand for the bank's products.

DBS Home Loan Product Range

DBS offers a comprehensive range of home loan products across different property types and borrower profiles:

• Fixed-Rate Packages: DBS's flagship products with lock-in periods of 2-3 years, featuring rates as low as 1.50% for 2-year fixed packages (minimum $700,000 loan). These appeal to borrowers seeking payment certainty and budgeting stability.
• SORA-Linked Floating Packages: Structured around 3M SORA plus a spread (typically +0.50% to +1.00%), these suit borrowers comfortable with rate volatility who want to capture savings in a declining rate environment.
• Fixed Deposit-Pegged Floating Rate (FHR6): DBS's unique product where the floating rate is pegged to fixed deposit rates rather than 3M SORA. This is currently the only bank offering this structure, providing an alternative benchmark for borrowers.
• POSB HDB Loans: Specialized products for HDB flat purchases, featuring competitive rates (1.55% for 3-year fixed) with no early repayment penalties or lock-in restrictions during the promotional period.
• Refinancing Packages: Attractive cash rebates ($2,000-$2,800 depending on loan amount) make DBS particularly competitive for existing homeowners looking to refinance.

DBS's Competitive Advantages

Several factors give DBS an edge in Singapore's mortgage market: (1) Funding advantage from its massive deposit base allows lower rates; (2) Bundling with popular products like the Multiplier Account (high-yield savings) creates value beyond just the mortgage rate; (3) Extensive branch network (largest in Singapore) provides accessibility; (4) Strong digital banking capabilities through DBS digibank; (5) Aggressive cash rebates for refinancing reduce net borrowing costs.

OCBC Home Loans: Market Position & Products

OCBC's Market Position & Philosophy

OCBC (Oversea-Chinese Banking Corporation) is Singapore's second-largest local bank and a major mortgage lender. While OCBC has a smaller deposit base than DBS, the bank has built a strong mortgage franchise by emphasizing customer flexibility, transparency, and long-term relationships. OCBC's mortgage philosophy centers on giving customers choice and control rather than pushing specific products.

In 2025, OCBC reported that four in five customers (80%) opted for fixed-rate packages, reflecting broader market trends toward payment certainty. However, OCBC also noted growing interest in longer-tenure fixed packages (5+ years), suggesting customers want stability but also appreciate having options.

OCBC Home Loan Product Range

OCBC's mortgage offerings are designed around customer flexibility:

• Fixed-Rate Packages: OCBC offers 2-year and 3-year fixed rates with flexible repricing options. Rates are competitive (1.65% for 2-year fixed, minimum loan amounts vary), with the key differentiator being the ability to reprice or switch without penalties.
• SORA-Linked Floating Packages: OCBC structures floating rates around 3M SORA plus a spread (typically +0.65%), slightly higher than DBS but still competitive. The appeal is flexibility—customers can switch or reprice during the loan term.
• Partial Prepayment Options: OCBC emphasizes the ability to make partial prepayments without penalties, allowing borrowers to reduce principal faster if their financial situation improves.
• Repricing Flexibility: Unlike some banks with rigid lock-in periods, OCBC allows customers to reprice their loans during the tenure, capturing rate reductions without refinancing costs.
• Relationship-Based Pricing: OCBC offers better rates to customers with larger deposits, investment portfolios, or other banking relationships, rewarding loyalty.

OCBC's Competitive Advantages

OCBC differentiates on flexibility and customer service: (1) No penalties for partial prepayment—pay down your loan faster without fees; (2) Repricing options allow you to capture rate reductions without full refinancing; (3) Longer fixed-rate tenures available for those seeking extended certainty; (4) Relationship-based pricing rewards existing customers; (5) Strong digital banking and customer service reputation.

Current Mortgage Rates: January 2026

Fixed-Rate Comparison

As of January 2026, fixed-rate mortgages in Singapore have reached 3-year lows, reflecting the declining interest rate environment. Here's how DBS and OCBC compare:

Key insight: DBS's POSB HDB loan at 1.55% is exceptionally competitive for HDB flat purchases. OCBC's 2-year rate is slightly lower than DBS's headline rate, but DBS's cash rebates and FHR6 floating option often provide better total value.

Floating-Rate Comparison

DBS's floating-rate spread of +0.50% is 15 basis points better than OCBC's +0.65%. For large loans (above $600,000), this difference compounds significantly over time. DBS's unique FHR6 product offers an alternative benchmark—borrowers can choose between SORA and fixed-deposit-rate pegging.

The chart below shows recent SORA trends to help you understand how rates have moved:

As you can see from the chart above, SORA rates have been declining through late 2025 and into 2026, making floating-rate loans increasingly attractive for borrowers comfortable with rate volatility. However, the trend could reverse if inflation or economic conditions change.

Fixed vs SORA: Which Rate Type Suits You?

Understanding Your Options

Before comparing DBS and OCBC specifically, you need to understand the fundamental choice: fixed-rate or floating-rate (SORA-linked) mortgages.

Fixed-Rate Mortgages: Your interest rate is locked for a specific period (typically 2-3 years), then reverts to a floating rate or refinancing option. Fixed rates provide payment certainty—your monthly installment won't change during the lock-in period, making budgeting predictable. Fixed rates are ideal for: first-time buyers who want certainty; borrowers on tight budgets; those expecting income decreases; anyone uncomfortable with rate volatility.

SORA-Linked Floating Mortgages: Your rate moves with the 3-Month Singapore Overnight Rate Average, typically expressed as SORA + a bank spread (e.g., SORA + 0.50%). Floating rates are lower initially but fluctuate monthly. Floating rates are ideal for: borrowers comfortable with volatility; those planning to refinance within 5 years; investors seeking interest savings; anyone expecting income increases; those in declining rate environments.

Market data from 2025 shows that 80% of OCBC customers and a strong majority of DBS customers chose fixed-rate packages, reflecting Singaporean preference for payment certainty. However, as rates decline, floating-rate products become more attractive.

DBS vs OCBC: Rate Type Philosophy

Both banks offer fixed and floating options, but their marketing emphasis differs. DBS aggressively promotes fixed-rate packages for payment certainty, particularly through POSB for HDB buyers. OCBC emphasizes flexibility—the ability to switch between fixed and floating, reprice without penalties, and make partial prepayments.

For most first-time buyers in 2026, a 2-3 year fixed rate makes sense: it provides certainty during your early homeownership years, and after the lock-in period expires, you can reassess rates and refinance if better options emerge.

Product-by-Product Comparison

HDB Flat Purchases: DBS Wins

For HDB flat purchases, DBS's POSB HDB loan is exceptionally competitive. At 1.55% for 3 years (no lock-in, no early repayment penalties), this rate is difficult for OCBC to match. OCBC doesn't offer a dedicated HDB product with comparable pricing.

Winner: DBS – The POSB HDB loan at 1.55% is the best option for HDB buyers in 2026. There's no lock-in period, so you can refinance or sell without penalties. This flexibility combined with the low rate makes it the clear choice for most HDB purchasers.

Homejourney tip: Use our mortgage eligibility calculator to determine your maximum HDB loan amount, then compare this rate against other banks to confirm DBS's advantage.

Resale HDB Flats: DBS Slightly Ahead

For resale HDB purchases, both banks offer competitive rates, but DBS's floating-rate options provide better value for larger loans (above $600,000). DBS's CHR (Cashback Home Refinance) and FHR6 (Fixed Deposit Rate Housing) products offer spreads of +0.50% to +0.60%, compared to OCBC's +0.65%.

For loans under $600,000, the rate difference is minimal. For loans above $600,000, DBS's lower spread compounds into meaningful savings over a 25-30 year tenure.

Winner: DBS (for floating rates on large loans) – The 15 basis point spread advantage adds up. On a $800,000 loan, this difference could save $30,000-$50,000 over the full tenure.

Winner: OCBC (for flexibility) – If you value the ability to make partial prepayments without penalties and repricing options, OCBC's flexibility may be worth the slightly higher rate.

Private Condominiums (BUC): DBS Slightly Ahead

For private property purchases (Buy-to-Occupy), DBS offers competitive floating rates and the unique FHR6 fixed-deposit-pegged option. OCBC offers solid rates but without the product differentiation.

Winner: DBS – The FHR6 product and lower floating-rate spreads give DBS an edge for private property buyers seeking flexibility.

Refinancing: DBS Significantly Ahead

This is where DBS pulls away. DBS offers substantial cash rebates for refinancing: $2,000 for loans above $500,000, $2,500 for above $1 million, and $2,800 for above $1.5 million. These rebates fully offset typical refinancing fees ($1,800-$1,900).

OCBC offers smaller rebates ($1,400-$1,800), leaving borrowers with net costs after fees. For a $1 million refinance, DBS's $2,500 rebate versus OCBC's $1,800 rebate represents a $700 advantage—before even considering rate differences.

Winner: DBS (decisively) – The cash rebates make refinancing cost-effective and reward customer loyalty. If you're refinancing an existing mortgage, DBS should be your first call.

Key Features & Flexibility

Lock-In Periods & Early Repayment

DBS: 2-year lock-in on most fixed packages, with 100% penalty waiver on sale. This means you can sell your property without early repayment penalties. After 24 months, you can convert to floating rates or refinance freely.

OCBC: Similar 2-year lock-in structures, but with greater emphasis on repricing flexibility. OCBC allows customers to reprice their loans during the tenure without full refinancing, capturing rate reductions more easily.

Advantage: OCBC – The repricing flexibility without penalties gives OCBC an edge for borrowers who want to adapt to changing rates without committing to full refinancing.

Partial Prepayment Options

DBS: Allows prepayment but with varying terms depending on the product. Some products have prepayment limits or fees.

OCBC: Explicitly emphasizes penalty-free partial prepayment, allowing borrowers to reduce principal faster without fees. This is a key differentiator for OCBC.

Advantage: OCBC – If you plan to make extra payments toward your mortgage (common among Singaporean homeowners), OCBC's penalty-free prepayment is valuable. You can pay down your loan faster and reduce total interest paid.

Bundling & Relationship Benefits

DBS: Bundles mortgages with the Multiplier Account (high-yield savings), creating integrated value. DBS customers can earn attractive interest on savings while borrowing at competitive rates.

OCBC: Offers relationship-based pricing—better rates for customers with larger deposits, investments, or other OCBC products. The more you bank with OCBC, the better your mortgage rate.

Advantage: Depends on your profile. If you're a DBS customer seeking simplicity and bundled products, DBS wins. If you're an OCBC customer with multiple banking relationships, OCBC's relationship pricing may offer better value.

Digital Banking & Service

DBS: Offers comprehensive digital banking through DBS digibank, with real-time rate tracking, online application, and 24/7 customer support. The largest branch network in Singapore provides in-person support if needed.

OCBC: Also offers strong digital banking capabilities and a solid branch network. OCBC's customer service reputation is strong, with responsive support.

Advantage: Tie – Both banks offer modern digital experiences. Choose based on your preference for digital-first or branch-based service.

Eligibility & Approval Process

Basic Eligibility Criteria

Both DBS and OCBC have similar eligibility requirements for home loans:

• Age: Typically 21-65 years old (loan must be repaid by age 65-70)
• Income: Stable, verifiable income (employment, business, or investment income)
• Credit Profile: Good credit history with no defaults or serious delinquencies
• Debt Service Ratio (TDSR): Your total monthly debt obligations cannot exceed 60% of gross monthly income (MAS regulation)
• Loan-to-Value (LTV): For HDB flats, maximum 80% LTV; for private properties, typically 75-80% LTV
• Property Requirements: Property must be in Singapore, valued appropriately, and meet bank lending criteria

Both banks follow MAS guidelines strictly, so eligibility is largely standardized. However, individual assessment varies based on employment type, income stability, and existing debt.

DBS Approval Process

DBS's approval process typically takes 2-4 weeks from application to loan disbursement:

1. Online application or branch visit to provide basic information
2. Document submission (payslips, tax returns, property documents, ID)
3. Credit check and income verification
4. Property valuation
5. Loan approval and offer letter
6. Legal documentation and signing
7. Loan disbursement

DBS's large team and streamlined processes often result in faster approvals. The bank's Singpass integration (MyInfo) can auto-fill applications, reducing paperwork and speeding approval.

OCBC Approval Process

OCBC's process is similar, typically 2-4 weeks:

1. Application (online or in-branch)
2. Document submission
3. Credit and income verification
4. Property valuation
5. Loan approval
6. Legal documentation
7. Disbursement

OCBC's emphasis on customer relationships can sometimes result in personalized service—relationship managers may offer guidance on product selection and repricing strategies.

Homejourney's Multi-Bank Application Advantage

Rather than applying to DBS and OCBC separately, Homejourney allows you to submit one application that reaches multiple banks simultaneously. Banks then compete for your business, and you receive offers from all lenders at once. This approach: (1) Saves time—one application instead of many; (2) Increases negotiating power—banks know they're competing; (3) Ensures you see all available options; (4) Uses Singpass/MyInfo to auto-fill, reducing paperwork.

To compare DBS and OCBC rates instantly and apply through Homejourney, visit our bank rates page.

Costs, Fees & Cash Rebates

Upfront Costs & Fees

Both DBS and OCBC charge similar upfront fees for mortgage origination:

These fees are largely standardized across banks. The key difference emerges in cash rebates and subsidies.

Cash Rebates & Incentives

DBS Rebates (New Loans): DBS offers modest rebates on new mortgages, typically $500-$1,000 depending on loan amount and product. More significantly, DBS offers aggressive refinancing rebates.

OCBC Rebates (New Loans): OCBC's new loan rebates are similar to DBS, $500-$1,000 range.

DBS Refinancing Rebates (Significant Advantage):

• $2,000 for loans above $500,000
• $2,500 for loans above $1,000,000
• $2,800 for loans above $1,500,000

These rebates fully cover typical refinancing costs ($1,800-$1,900), meaning refinancing is essentially free for DBS customers.

OCBC Refinancing Rebates:

• $1,400-$1,600 for loans above $500,000
• $1,800 for loans above $1,000,000

OCBC's rebates are smaller, leaving net costs of $200-$400 after fees.

Winner: DBS (decisively for refinancing) – DBS's cash rebates make refinancing cost-effective and reward customer loyalty. If you're refinancing, DBS's rebates provide clear financial advantage.

Total Cost of Borrowing Example

Let's compare total costs for a typical scenario: $600,000 HDB loan, 25-year tenure, refinancing after 5 years.

DBS Path:
Initial loan at 1.55% (POSB HDB): Monthly payment ~$2,650
After 5 years, refinance to 1.65% floating (SORA + 0.50%): Refinancing costs covered by $2,000 rebate
New monthly payment ~$2,580
Total interest paid over 25 years: ~$285,000

OCBC Path:
Initial loan at 1.70% (3-year fixed): Monthly payment ~$2,680
After 3 years, rates have declined; refinance to 1.65% floating: Out-of-pocket refinancing costs ~$300 after rebate
New monthly payment ~$2,580
Total interest paid over 25 years: ~$295,000

Advantage: DBS saves approximately $10,000 over the loan tenure through better initial rates and refinancing rebates. This advantage grows with larger loan amounts.

Who Wins? Property Type Analysis

First-Time HDB Buyers: DBS