How to Use Homejourney Bank Rate Comparison in 2026

Homejourney Bank Rate Comparison lets you instantly compare home loan rates from DBS, OCBC, UOB, HSBC, Standard Chartered, and more major Singapore banks in one secure platform. This tool simplifies finding the best mortgage rate while prioritizing user safety through Singpass verification and real-time data. First-time buyers and refinancers can apply multiple banks mortgage with one click, letting banks compete for you to secure top offers.

As part of our pillar guide on Singapore home loans, this cluster focuses on tactical steps for using Homejourney's comparison tool. Homejourney builds trust by verifying all rates and connecting you to licensed lenders, ensuring transparent decisions in line with MAS regulations.

Why Use Homejourney Bank Rate Comparison?

Singapore's property market demands sharp financing choices amid fluctuating SORA rates. Homejourney's tool aggregates live rates from 11 partner banks including Maybank, CIMB, RHB, Public Bank, Hong Leong, and Citibank. Unlike manual checks, it shows effective rates with spreads, lock-in periods, and penalties side-by-side.

For HDB upgraders or private property investors, this means spotting deals like DBS's 0.9% fixed rates or OCBC's low SORA Pibor packages. Our platform complies with TDSR (Total Debt Servicing Ratio) and MSR (Mortgage Servicing Ratio) limits from HDB and MAS, helping you avoid overborrowing.

Insider tip: Rates updated daily from bank APIs ensure accuracy—vital as 3M SORA hovered around 3.0% in late 2025 per MAS data. Visit https://www.homejourney.sg/bank-rates to start.

Step-by-Step: How to Use Homejourney Bank Rate Comparison

Follow these actionable steps to compare bank offers and get best mortgage rate efficiently.

1. Access the Tool: Log in via Singpass on the Homejourney app or https://www.homejourney.sg/bank-rates. Singpass auto-fills your details for personalized results.
2. Input Your Details: Enter property price (e.g., S$800,000 HDB resale), downpayment (5-25% per HDB rules), loan tenure (up to 30 years), and income. Our calculator factors TDSR at 55% max.
3. Compare Rates: View tables showing SORA-based (floating), fixed, and board rates. Filter by lock-in (1-5 years) and penalties (e.g., 1.5% for early break).
4. Analyze Products: See pros/cons—UOB excels for fixed rates, HSBC for expats with lower processing fees.
5. Apply Multi-Bank: Select 3-5 banks for multi-bank application. Submit once; banks compete with tailored offers.

This process takes under 5 minutes, far faster than visiting branches in Orchard or Raffles Place. Learn more in our Homejourney's Step-by-Step Singpass Loan Application Guide 2026.

Understanding Key Rates and Trends

SORA (Singapore Overnight Rate Average) is the primary benchmark since 2020, replacing SOR/FIX. Most loans are P-SORA (projected 3M SORA + spread, e.g., +0.7%). Fixed rates offer stability for 2-3 years.

The chart below shows recent interest rate trends in Singapore:

As seen, SORA peaked at 3.2% mid-2025 but eased to 2.8% by December, per MAS. Homejourney tracks live 3M/6M SORA, helping time your lock-in.

Compare current offers: DBS 2.45% effective (SORA+0.65%), OCBC 2.40%, UOB 2.42% (averages; check platform for latest). Rates align with HDB loan at 2.6% but banks often beat it for larger loans.

Banks Compete for You: Multi-Bank Application Benefits

Traditional applications limit you to one bank, risking suboptimal rates. Homejourney's multi-bank application submits to partners simultaneously, with banks bidding via better terms.

• Save Time: One form vs. multiple visits.
• Better Deals: Users report 0.2-0.5% lower rates; e.g., S$1M loan saves S$10,000+ over 25 years.
• Safety First: Singpass secures data; no spam as we vet partners.
• Refinancing Ease: Check eligibility without impacting credit.

Real example: A Toa Payoh HDB buyer (S$700k) got DBS at 2.35% vs. standard 2.65% by letting banks compete. Read Guide to Why You Should Apply to Multiple Banks for Your Mortgage.

Practical Tips for Best Results

To maximize value:

• Use our mortgage calculator first to confirm affordability under MSR (30% of income for HDB).
• Apply 1-2 months pre-submission; rates valid 30-60 days.
• For investors, prioritize low penalty loans for quick flips.
• Refinance if spread >0.8% above market—track via Homejourney.
• Connect with our Mortgage Brokers post-comparison for free advice.

Pair with property search to match budgets to listings. For post-purchase, book aircon services.

FAQ: How to Use Homejourney Bank Rate Comparison

How accurate are Homejourney's bank rates?
Rates pull live from banks, updated daily, matching MAS/HDB benchmarks. Always verify final offer.

Can I apply to multiple banks without credit impact?
Yes, soft checks via Singpass don't affect your score. See Benefits of Multi-Bank Application in One Click.

What's the best time for multi-bank application?
When SORA dips, like now at 2.8%. Use our chart for timing.

Is it free? Any fees?
100% free comparison and application. Brokers earn commissions from banks.

How does Singpass help?
Auto-fills NRIC, income; speeds approval to 1-3 days. Details in Singpass vs Traditional Loan Guide.

Disclaimer: Homejourney provides tools, not financial advice. Consult professionals; rates subject to change per MAS guidelines (2026).

Start comparing today at Homejourney Bank Rate Comparison for the best mortgage rate. Link back to our pillar on Singapore Mortgages for full guidance—your safe home journey starts here.