How to Use Homejourney Bank Rate Comparison in 3 Easy Steps
Homejourney Bank Rate Comparison lets you instantly compare home loan rates from DBS, OCBC, UOB, HSBC, Standard Chartered, and more major Singapore banks on one secure platform. With one click loan application, you can apply multiple banks simultaneously using Singpass for fast mortgage application and approvals in 24-48 hours.[1][2][4]
This tool is part of Homejourney's commitment to user safety and trust, verifying all rates in real-time to help first-time HDB buyers in Toa Payoh or investors eyeing Orchard condos secure the best deals without scams or outdated info.[1][2]
Why Homejourney Bank Rate Comparison Stands Out for Singapore Buyers
In Singapore's competitive property market, where TDSR limits borrowing to 55% of income and MSR caps HDB loans at 30%, comparing rates manually across banks wastes time and risks missing promotions.[1] Homejourney simplifies this with a loan application app featuring real-time SORA-based rates, eligibility calculators, and multi-bank submissions.[2][4]
Unlike traditional methods taking 2-4 weeks, Homejourney's one click loan application uses Singpass MyInfo to auto-fill NRIC, income, and CPF data, cutting errors by 90% and enabling pre-approvals in days.[4] This connects to our pillar guide on Singapore Mortgage Essentials 2026 for full financing coverage.
Step-by-Step: How to Use Homejourney Bank Rate Comparison
Access the tool at https://www.homejourney.sg/bank-rates. Here's your actionable guide:
- Enter Your Details (1 Minute): Input income, CPF balance, age, and property price. Use our mortgage eligibility calculator to check TDSR/MSR compliance instantly.[1][3]
- Compare Rates Side-by-Side: View effective rates for SORA PEA (e.g., DBS 3.5% + 0.5% spread = 4.0%), fixed packages, and board rates from 11 banks including Maybank, CIMB, and Citibank. Filter by lock-in period (2-3 years typical).[4]
- Submit Multi-Bank Application: Select top 3-5 banks and click apply multiple banks with Singpass. Receive competing offers without multiple forms.[2][4]
Pro Tip: For HDB upgraders, prioritize banks like DBS with strong HDB loan quotas under MAS rules.[1]
Understanding Key Rates on Homejourney
SORA (Singapore Overnight Rate Average) is the MAS-recommended benchmark, replacing SOR/FIXED since 2024. Current 3M SORA hovers at 3.0-3.2% (Feb 2026), making floating rates attractive vs fixed at 3.8-4.2%.[4]
The chart below shows recent interest rate trends in Singapore:
SORA has stabilized post-2025 hikes, ideal for refinancing resale flats over $500K as in Toa Payoh examples.[4][5] Homejourney updates these live, unlike static bank sites.
Top Banks Compared on Homejourney: DBS vs OCBC vs UOB
DBS Bank: Market leader with 40% share, offers SORA PEA at 3M SORA + 0.65% (effective ~3.85%). Best for HDB with fast Singpass processing. Pros: Top customer service; Cons: Higher fees post-lock-in.[1][4]
OCBC Bank: Competitive fixed rates (3.75% 2-year), strong for private properties. Unique: Refinance cashback up to $2,000. Ideal for Orchard investors.[4]
UOB: Flexible board rates (3.6%), minimal penalties. Great for first-timers with quick approvals via Homejourney.[4]
| Bank | Best Rate (Feb 2026) | Lock-in | Best For |
|---|---|---|---|
| DBS | 3M SORA +0.65% | 2 Years | HDB Buyers |
| OCBC | Fixed 3.75% | 3 Years | Private Properties |
| UOB | Board 3.6% | 2 Years | First-Timers |
Compare all 11 partners (HSBC, Standard Chartered, Maybank, etc.) on Homejourney for personalized matches.[1]
Fast Mortgage Application: Singpass and Multi-Bank Tips
Using Homejourney's fast mortgage application, log in with Singpass for auto-fill. Documents needed: NRIC, payslips, CPF statements (auto-pulled).[3][4] Expect offers from multiple banks in 24-48 hours vs weeks elsewhere.
- Insider Tip: Apply mid-week for quicker responses; banks process faster Mon-Wed.
- Refinancing? Check our Best Bank Refinancing Rates Comparison 2026 | Homejourney ">Best Bank Refinancing Rates 2026.[4]
- Pair with property search to match loans to listings.[1]
Disclaimer: Rates fluctuate; Homejourney provides indicative data. Consult MAS guidelines and professionals for advice. Not financial advice.[1][2]
FAQ: Common Questions on Homejourney Bank Rate Comparison
How accurate are Homejourney's bank rates?
Updated real-time from bank partners, verified for TDSR compliance. Cross-check with official MAS announcements.[1][4]
Can I apply to all banks at once?
Yes, multi-bank application lets banks compete. Select preferences; get best offers via one submission.[2][3]
Is Singpass safe for loan apps?
Fully secure, MyInfo pulls verified gov data only. Homejourney prioritizes user safety with verified listings and encryption.[1][3]
What's the cost to use this tool?
Free forever. Monetized via trusted partners, no hidden fees.[1]
How does it help HDB buyers?
Calculates ABSD, grants eligibility alongside rates. Links to projects directory for new launches.[1]
Ready to compare? Visit Homejourney Bank Rate Comparison now for how to use Homejourney Bank Rate Comparison and secure your best loan. Explore our How to Use Homejourney Mortgage Calculator: 2026 Step-by-Step Guide ">Mortgage Calculator Guide next.[1][4]
