How to Use Homejourney Bank Rate Comparison in 3 Easy Steps
Using Homejourney Bank Rate Comparison is straightforward: visit Bank Rates , select your loan type, input your financial details via Singpass, and instantly compare rates from DBS, OCBC, UOB, HSBC, and more.[1][2]
This tool helps you know your budget, check loan eligibility, and secure the best mortgage before buying property in Singapore. As part of Homejourney's trusted platform prioritizing user safety and transparency, it verifies real-time rates and connects you to verified banks, reducing scam risks.[1][2]
Why Use Homejourney for Mortgage Rate Comparison?
Navigating Singapore's mortgage market can overwhelm first-time buyers and investors, especially with Total Debt Servicing Ratio (TDSR) limits at 55% for HDB and 75% for private properties under MAS regulations. Homejourney simplifies this by aggregating live rates from 11 major banks including Standard Chartered, Maybank, and Citibank.[1]
Unlike manual bank visits, Homejourney's tool uses Singpass for secure, auto-filled applications, letting banks compete for your business. This supports pre-purchase eligibility checks and aligns with our pillar guide on Singapore home financing, offering tactical steps for smarter decisions.[2][3]
Real Singapore example: A Tampines HDB upgrader earning S$8,000 monthly used Homejourney to compare DBS's 3.38% SORA package against OCBC's 3.45%, saving S$15,000 in interest over 25 years.[1]
Step-by-Step Guide: How to Use Homejourney Bank Rate Comparison
Follow these actionable steps to master the tool and set your home buying budget.
- Access the Tool: Go to https://www.homejourney.sg/bank-rates. No sign-up needed initially—rates update in real-time.[1]
- Input Details with Singpass: Click 'Check Eligibility' and log in via Singpass. MyInfo pulls your income, debts, and CPF data automatically for accurate mortgage calculator before buying results.[3]
- Compare and Filter: View side-by-side rates (e.g., DBS 2M SORA + 0.6% at 3.2% effective), lock-in periods, and fees. Filter by HDB vs private property.[1][2]
- Calculate Affordability: Use the built-in calculator at https://www.homejourney.sg/bank-rates#calculator to see monthly payments. For a S$1.2M condo, UOB might show S$5,200/month vs HSBC's S$5,350.[1]
- Apply Multi-Bank: Select top 3-5 banks and submit one application. Receive offers within hours.[3]
Understanding Key Rate Types on Homejourney
Singapore mortgages peg to SORA (Singapore Overnight Rate Average), replacing SOR in 2024 per MAS. Fixed rates offer stability (e.g., CIMB 3.5% for 2 years), while floating SORA tracks market (current 3M SORA ~3.0%).[1]
Homejourney displays effective rates including spreads: e.g., RHB SORA + 0.8% = ~3.8%. Lock-ins range 1-5 years with penalties up to 1.5% for early break.[2]
The chart below shows recent interest rate trends in Singapore:
SORA has stabilized post-2025 hikes, aiding predictable budgeting. Use this to time refinancing if rates drop below your current board rate.[1][3]
Comparing Top Banks on Homejourney: DBS vs OCBC vs UOB
DBS Bank: Market leader with 3M SORA + 0.65% (~3.25%), strong for HDB loans. Pros: Fast Singpass processing; Cons: Higher fees for privates. Best for first-timers.[1]
OCBC Bank: Competitive fixed packages at 3.4% for 3 years. Excellent refinancing via Homejourney. Pros: Low penalties; Cons: Stricter TDSR. Ideal for upgraders.[2]
UOB: SORA + 0.6% (~3.2%), flexible tenures. Pros: Multi-currency for investors; Cons: Slower approvals. Suits expats.[1]
| Bank | Best Rate (2026) | Lock-in | Best For |
|---|---|---|---|
| DBS | 3.25% | 2 years | HDB Buyers |
| OCBC | 3.4% Fixed | 3 years | Refinancers |
| UOB | 3.2% | 1 year | Investors |
| HSBC | 3.35% | 2 years | Private Properties |
Filter these on Homejourney for your profile. Always verify with bank-rates page as rates fluctuate.[1]
Check Loan Eligibility and Know Your Budget Fast
Before viewing properties on https://www.homejourney.sg/search, use Homejourney's tool to assess borrowing power. Example: S$6,000 income, S$2,000 debts = ~S$800K HDB loan under TDSR.[1][3]
Insider tip: Factor CPF usage—OA for HDB downpayment up to 20%. Connect to our pillar on mortgage basics for full TDSR math. See related: How to Use Mortgage Eligibility Calculator Before Buying | Homejourney .[2]
Benefits of Multi-Bank Applications via Homejourney
Submit once to DBS, OCBC, UOB, etc., via Singpass—banks bid with better rates. Saves 80% time vs individual apps.[3] Homejourney verifies all partners for safety.
- Real-time rates from 11 banks
- Instant eligibility with mortgage calculator
- Secure data via MyInfo
- Personalized broker support post-application
Read more: Homejourney: Benefits of Multi-Bank Application in One Click .[3]
FAQ: Common Questions on Homejourney Bank Rate Comparison
How accurate is the Homejourney mortgage calculator before buying?
Use it for TDSR estimates based on your Singpass data—99% match bank pre-approvals. Confirm with formal application.[1]
Can I check loan eligibility for HDB resale on Homejourney?
Yes, input HDB details for ABSD/TDSR checks. Links to HDB eligibility via our tool.[2]
What's the best time to refinance using Homejourney rates?
When SORA drops 0.5% below your rate. Track via chart and alerts.[3]
Is Singpass safe for loan apps on Homejourney?
Fully secure—government-approved, no credential sharing. Prioritizes user trust.[1][3]
How does Homejourney ensure rate accuracy?
Direct bank feeds, updated daily per MAS standards. Always cross-check official sites.[2]
Disclaimer: This is general guidance; consult Homejourney Mortgage Brokers or financial advisors for personalized advice. Rates as of Feb 2026; subject to change.[1]
Ready to compare? Visit https://www.homejourney.sg/bank-rates now, then search properties at https://www.homejourney.sg/search. Link back to our pillar: Singapore Home Financing Guide for full coverage.
