How to Use Homejourney Bank Rate Comparison: 2026 Guide
Homejourney Bank Rate Comparison lets you instantly compare home loan rates from DBS, OCBC, UOB, HSBC, Standard Chartered, and other major Singapore banks in one secure platform, enabling no queue mortgage applications via Singpass for faster approvals.[1]
This cluster article breaks down the step-by-step process to use this tool, perfect for first-time HDB buyers, upgraders, or investors seeking the best online home loan options. It connects to our pillar guide on Singapore home financing by focusing on tactical advice for rate shopping and digital bank application without branch visits.[1]
Why Use Homejourney for Bank Rate Comparison?
In Singapore's competitive mortgage market, rates can differ by 0.2-0.5% across banks, potentially saving thousands over a 25-year loan. Homejourney aggregates real-time data from partners like DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong, and Citibank, showing SORA-based, fixed, and board rates side-by-side.[1]
Unlike manual checks on individual bank sites, Homejourney verifies rates daily and integrates Singpass for convenient loan application, auto-filling documents to cut processing from weeks to days. This prioritizes user safety with verified data and transparent comparisons, aligning with Homejourney's trust-focused ecosystem.[3]
For example, a $800,000 HDB loan at 3.5% vs 3.0% SORA PIBS saves over $40,000 in interest. First-time buyers under TDSR limits (60% of gross income) can quickly assess eligibility here before viewing properties via Property Search .[1]
Step-by-Step: How to Use Homejourney Bank Rate Comparison
Access the tool at https://www.homejourney.sg/bank-rates. No sign-up needed initially, but login with Singpass unlocks personalized calculations.[1]
- Enter Loan Details: Input property price (e.g., $600,000 BTO flat), downpayment (5-25% per HDB rules), loan tenure (up to 30 years or age 65), and income for TDSR check. The tool auto-suggests HDB/ private property options.[1]
- View Real-Time Rates: See effective rates like DBS 3M SORA + 0.7% (est. 3.2%), OCBC Fixed 3.0% (2-year lock-in), UOB Board -0.5% (est. 3.15%). Filters for fixed vs floating, lock-in periods, and fees.[1]
- Compare Side-by-Side: Sort by lowest rate, lowest fees, or best for refinancing. Toggle SORA trends to predict future costs.[1]
- Calculate Affordability: Use the integrated calculator at https://www.homejourney.sg/bank-rates#calculator to see monthly payments (e.g., $2,800 for $500k loan at 3.2%).[1]
- Apply Online: Select top 3 banks for multi-bank submission. Singpass auto-fills NRIC, income, CPF details for apply bank online in minutes—no queues, no paperwork.[4]
Insider tip: Check during off-peak hours (weekdays 10am-2pm) when banks update rates. For HDB upgraders, filter for CPF housing grants eligibility.[1]
Understanding Key Rates on Homejourney
Most loans peg to SORA (Singapore Overnight Rate Average), replacing SOR/SIBOR per MAS guidelines. 3M SORA averages 3.0% in early 2026, with spreads of 0.5-1.0%.[1]
Fixed rates suit risk-averse buyers (e.g., HSBC 2-year fixed at 2.9%), while floating (UOB SORA PIBS) follow market dips. Lock-ins (1-5 years) have penalties (1-1.5 months interest) for early exit—Homejourney flags these clearly.[1]
The chart below shows recent interest rate trends in Singapore:
As seen in the chart, SORA has stabilized post-2025 hikes, making now ideal for locking fixed rates. Compare to market averages: Homejourney shows DBS/OCBC often lead by 0.1-0.2%.[1]
Benefits of Multi-Bank Applications via Homejourney
Submit once to all partners—banks compete, sending best offers. Processing: 1-3 days for IP disclosure, 7-21 days full approval. Required docs (auto-filled via Singpass): NRIC, payslips, CPF statements, property Option to Purchase.[4]
- No Queue Mortgage: Skip branches; 90% approvals digital per MAS digital banking push.[1]
- Refinancing Edge: See if switching from e.g., Maybank board rate saves (link to Best Bank Refinancing Rates Comparison 2026 | Homejourney ).[1]
- Safety First: Verified rates, scam-free—Homejourney checks listings and agents.[3]
For investors eyeing condos in Projects Directory , pair rates with yield calculators.[1]
Pros, Cons, and Tips for Top Banks
| Bank | Best Rate (2026 Est.) | Pros | Cons |
|---|---|---|---|
| DBS | 3M SORA +0.65% | Fast digital approval, CPF top-up perks | Higher fees post-lock-in |
| OCBC | Fixed 2.95% (2yr) | Competitive fixed, good for HDB | Stricter eligibility |
| UOB | Board -0.4% | Flexible repricing | Volatile if board rises |
Tip: Foreigners (e.g., HSBC specialists) or high-net-worth (Citibank) have tailored options. Always verify with Straits Times Housing News for market context.[1]
Disclaimer: Rates fluctuate; Homejourney provides indicative data. Consult professionals for advice. Not financial advice.[1]
FAQ
How do I apply for a home loan online with Homejourney?
Use Singpass at https://www.homejourney.sg/bank-rates for digital bank application. Select banks, submit once—offers arrive in days.[4]
Is Homejourney Bank Rate Comparison free?
Yes, fully free with no hidden fees. Connects to verified banks safely.[1]
Can I refinance using this tool?
Yes, compare current vs new rates. See Refinance Your Home Loan Without Visiting Multiple Banks | Homejourney for details.[1]
What if rates change after comparison?
Real-time updates; lock IP rates valid 30 days per MAS.[1]
Does it work for HDB and private properties?
Yes, filters for both, including ABSD/TDSR compliance.[1]
Ready to save on your How to Use Homejourney Bank Rate Comparison? Start at https://www.homejourney.sg/bank-rates, then search budgeted properties via Property Search . For full Singapore mortgage strategies, read our pillar guide. Homejourney ensures safe, transparent journeys—feedback drives us.[1]
