How to Use Homejourney Bank Rate Comparison to Lock In Your Best Home Loan

If you want banks to compete for your home loan and secure the best mortgage offer safely, the Homejourney Bank Rate Comparison tool is designed to help you compare multiple bank offers, negotiate your mortgage rate, and get a lower rate without running around different branches.

This cluster guide focuses on How to Use Homejourney Bank Rate Comparison step-by-step, and connects back to our main pillar guide on Singapore home loans for a deeper understanding of TDSR, LTV limits, and loan types. Use this as your practical playbook whether you are a first-time buyer in Punggol, an HDB upgrader in Bukit Batok, or a landlord refinancing a condo in River Valley.

What Is Homejourney Bank Rate Comparison and Why It Matters

Homejourney’s Bank Rate Comparison tool brings live home loan rates from major banks in Singapore – DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong Bank, and Citibank – into a single, verified dashboard so you can compare packages safely and transparently.[1][2]

Instead of collecting brochures at Raffles Place or visiting different branches in Tampines or Jurong East, you get:

Real-time bank rates (fixed, floating, SORA-pegged) consolidated on one screen
Standardised breakdowns of spreads, lock-in periods, and penalties
Mortgage eligibility calculator built into the same page Mortgage Rates
Secure Singpass/MyInfo integration for safer, faster applications[3][6]
Multi-bank submission so banks compete for your business with multiple bank offers

Because Homejourney prioritises user safety and verified data, rates and bank partners are checked and updated with bank inputs and official benchmarks, giving you a trusted basis to negotiate mortgage rates and get lower rates.[1][2][4]

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

Step 1: Start from the Bank Rates Page

Go to the Homejourney Bank Rates page Bank Rates . This is your central hub to:

See real-time home loan packages from DBS, OCBC, UOB, and other major banks
Filter by new purchase, refinancing, or equity term loan
Switch between HDB and private property financing

Insider tip from living here: if you are viewing showflats in areas like Lentor or Pasir Ris over the weekend, check Homejourney’s rate comparison on Friday night and again on Sunday evening — banks sometimes tweak their promotional spreads quietly ahead of the work week.

Step 2: Enter Your Basic Loan Details

Before comparing, input realistic numbers based on your property and budget:

Property type: HDB / condo / landed
Purpose: new purchase vs refinancing
Loan amount: for example, S$600,000 for a 4-room resale HDB in Bishan
Loan tenure: commonly 20–30 years, subject to MAS rules

These inputs allow Homejourney to show effective monthly instalments for each bank, not just headline rates, so you can see how a 0.10% difference might change your cash flow each month.

Step 3: Understand SORA, Fixed, and Board Rates

Most Singapore banks now offer packages based on:

3M/6M SORA-based floating rates: SORA (Singapore Overnight Rate Average) is MAS’s benchmark rate used for many home loans.
Fixed-rate packages: e.g., 2–5 years of fixed interest, then revert to a floating rate.
Board rate packages: pegged to a bank’s internal reference rate, revised at the bank’s discretion.

On Homejourney’s comparison table, each package is labelled clearly with its rate type, e.g. “3M SORA + 0.80% (Year 1–3)” or “2.95% fixed (Year 1–2)”. This helps you quickly see if a bank is offering a sharp fixed promo or a competitive SORA spread.

The chart below shows recent interest rate trends in Singapore:

Use this context alongside Homejourney’s real-time rates to decide whether to lock in a fixed rate or ride a SORA package for potential future declines.

Comparing Different Banks on Homejourney

DBS, OCBC, UOB: The Big Three Local Banks

DBS Bank often offers competitive SORA packages with stable servicing apps and strong digital capabilities. For a typical S$800,000 loan on a new launch near Bishan MRT, you may see SORA + spread packages with 2–3 year lock-ins and partial prepayment options.

OCBC Bank is popular with families upgrading from HDB to condo, especially in mature estates like Toa Payoh and Queenstown. OCBC frequently runs fixed-rate promotions, suitable if you prefer predictable instalments for the first few years.

UOB is strong among investors buying city-fringe condos in areas like Geylang and Balestier. UOB’s packages sometimes come with slightly different lock-in structures but attractive legal subsidies for refinancing.

On Homejourney, you can place DBS, OCBC, and UOB side by side to compare:

Headline interest rate by year (Year 1, 2, 3, thereafter)
Type: SORA, fixed, or board rate
Lock-in period and repricing options
Subsidies for legal and valuation fees (especially for refinancing)

Foreign Banks: HSBC, Standard Chartered, Citibank and Others

HSBC and Standard Chartered often appeal to higher-income borrowers and investors with larger loan sizes for prime properties in Districts 9, 10, and 11 (Orchard, Bukit Timah, Newton), offering competitive spreads and flexible features.

Citibank, Maybank, CIMB, RHB, Public Bank, and Hong Leong Bank frequently use sharper pricing or limited-time promotions to attract refinancing customers, especially for loans above S$500,000.

Homejourney’s Bank Rate Comparison lets you quickly spot when a foreign bank is offering a lower spread or better subsidy than the local banks — a scenario that may not be obvious if you only speak to one banker.

Using Homejourney to Negotiate Mortgage Rates and Let Banks Compete

One of the most powerful parts of the Homejourney Bank Rate Comparison is how it helps you let banks compete for your home loan so you can get a lower rate without playing phone tag with multiple bankers.

Step 4: Shortlist Your Top Packages

After comparing:

Use filters to shortlist 3–5 packages that fit your loan amount, property type, and preferred lock-in period.
Look at total cost over the lock-in period, not just Year 1 rates.
Consider your holding period – e.g., if you plan to sell your Punggol BTO after MOP, a 2- or 3-year lock-in might be enough.

To dive deeper into strategy, see our related guide: How to Get Banks to Compete for Your Home Loan | Homejourney How to Get Banks to Compete for Your Home Loan | Homejourney .

Step 5: Use the Homejourney Mortgage Eligibility Calculator

Before you trigger any application, use the Homejourney mortgage calculator and eligibility tools on the same page Mortgage Rates . These incorporate key MAS rules such as:

TDSR (Total Debt Servicing Ratio): generally capped at 55% of your gross monthly income under MAS guidelines.
LTV (Loan-to-Value) limits: which depend on your loan count and loan tenure.

For example, if you and your spouse earn S$13,000 a month combined and have a small car loan, the calculator can quickly show if your targeted S$900,000 condo loan in Sengkang is realistic, and which packages keep your monthly instalment within an affordable range.

Step 6: Apply to Multiple Banks with One Application

Once you are comfortable with your shortlisted options:

Click through the application flow on the Bank Rates page Bank Rates .
Select the banks you want to apply to (e.g., DBS, OCBC, UOB, HSBC).
Use Singpass/MyInfo to auto-fill your details securely, reducing paperwork and errors.[3][6]

Homejourney sends your details to your chosen banks through secure channels, so you receive multiple bank offers based on the same profile. This makes it much easier to compare apples-to-apples and negotiate mortgage rates, because you can see exactly how each bank prices your risk.

Homejourney Mortgage Brokers are also available when you apply, so you can get personalised guidance on which offer best fits your long-term plans.

Real-Life Examples of Using Homejourney Bank Rate Comparison

Example 1: First-Time HDB Buyer in Sengkang

A couple buying a 4-room resale HDB in Sengkang, near Compassvale MRT, wants a S$500,000 loan over 25 years. They use Homejourney to:

Compare HDB concessionary loan assumptions vs bank loan packages.
See bank SORA packages vs 2- or 3-year fixed packages.
Use the eligibility calculator to ensure they stay within TDSR limits and budget.

With these insights, they decide on a bank loan with a slightly lower starting interest than HDB loan, but with a lock-in period that matches their expected holding period until their child reaches primary school.

Example 2: Refinancing a Condo in Clementi

A working professional owning a 2-bedroom condo near Clementi MRT is paying an older board-rate loan that has drifted higher over time. With around S$650,000 outstanding and 20 years left, he uses Homejourney’s Bank Rate Comparison to:

Compare refinancing packages from DBS, UOB, HSBC, and CIMB.
Check which banks offer legal and valuation subsidies.
Estimate savings using the mortgage calculator and compare total cost over three years.

He then submits a multi-bank application via Homejourney and uses the offers received to choose a lower SORA package, saving a few hundred dollars monthly. For deeper refinancing strategies, see Best Bank Refinancing Rates Comparison 2026 | Homejourney Best Bank Refinancing Rates Comparison 2026 | Homejourney and How to Calculate If Refinancing is Worth It with Homejourney How to Calculate If Refinancing is Worth It with Homejourney .

Safety, Verification, and Why Homejourney Is a Trusted Mortgage Partner

Homejourney is built around verified information and user safety. Listings, agents, and service partners go through multi-step verification, and the same philosophy extends to financial tools and bank rate comparison.[2][4]

Key safeguards include:

Secure Singpass integration for loan eligibility checks and application flows, reducing the need to send documents over unsecured channels.[3][6]
Verified partners – Homejourney works directly with established banks regulated by MAS.
Transparent data – rates, fees, and lock-in details are clearly displayed so you understand what you are committing to.
AI-powered assistance via Homie, the in-app chatbot, to answer questions during your homebuying journey.[2]

For a broader view of how Homejourney protects buyers and sellers, read Homejourney: Your Guide to Safe Property Transactions in Singapore Projects Directory and Projects .

Linking Your Loan Choice to Property Search and Long-Term Ownership

The best mortgage offer is not just about the lowest rate — it must fit your property choice and long-term plans.

Use Homejourney’s Property Search to find homes that match the loan size you can comfortably afford Property Search .
Use the mortgage calculator to reverse-calculate your budget before you place an option Mortgage Rates .
After purchase, keep your home in good condition with reliable aircon servicing and other home services via Homejourney Aircon Services .

Thinking ahead about refinancing? Explore related content like Hidden Costs of Refinancing & How Homejourney Makes It Easier