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

Homejourney Bank Rate Comparison lets you instantly compare home loan rates from all major Singapore banks like DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong, and Citibank in one secure platform.

This tool is designed for first-time buyers, refinancers, and investors to find the best rates while ensuring transparency and safety—core to Homejourney's commitment to user trust.[1]

Why Use Homejourney for Bank Rate Comparison?

Navigating Singapore's home loan market can be overwhelming with fluctuating SORA rates and varying bank packages. Homejourney simplifies this by aggregating real-time rates from partner banks, factoring in TDSR limits (60% of gross income), MSR for HDB (30%), and current regulations from MAS and HDB.

Unlike manual bank visits, Homejourney's tool shows effective interest rates (PIBS + spreads), lock-in periods, and penalties side-by-side. For example, as of January 2026, 3M SORA averages 2.95%, with banks offering spreads from 0.60% to 1.20% for new loans.[1][3]

This cluster article builds on our pillar guide to Singapore Home Loans Complete Guide, focusing on tactical steps for rate comparison and Singpass mortgage application.

Step 1: Access Homejourney Bank Rates Page

Visit https://www.homejourney.sg/bank-rates on desktop or the Homejourney app. No login required to start comparing—prioritizing your privacy and speed.

The dashboard displays live rates for fixed, floating (SORA/Board), and hybrid packages. Filter by loan tenure (20-30 years for HDB, up to 35 for private), property type (HDB/condo), and borrower profile (first-timer vs repeater).

Insider tip: Check during off-peak hours (e.g., early mornings) for the most updated rates, as banks refresh post-SORA publication.[3]

Understanding Key Rate Types

SORA loans (Singapore Overnight Rate Average) are floating and most common, pegged to 1M, 3M, or 6M SORA. Fixed rates offer stability for 1-3 years but higher penalties (1-2 months interest) if you break lock-in.

Board rates (e.g., DBS 3.5%, OCBC 3.6%) provide predictability but track above SORA. Homejourney highlights the lowest effective rates—e.g., UOB's 3M SORA + 0.70% at 3.65% vs DBS +0.80% at 3.75%.[1]

The chart below shows recent interest rate trends in Singapore:

As seen in the chart, SORA peaked at 3.10% in late 2025 but stabilized, making now ideal for locking fixed rates if expecting hikes.

Step 2: Use the Mortgage Eligibility Calculator

Before comparing, input details into Homejourney's calculator at https://www.homejourney.sg/bank-rates#calculator. Enter monthly income, CPF balance, existing debts, and property price.

It computes max loan quantum under TDSR/MSR. Example: S$8,000 household income, S$100,000 CPF OA, S$1.2M HDB flat = ~S$900,000 loan eligible (75% LTV for first-timer).

This ensures you only pursue viable options, linking seamlessly to property search for budget-matched listings.[1][3]

Step 3: Compare Bank Packages Side-by-Side

Select Filters: Choose tenure, rate type, and LTV ratio.
View Table: Rates, fees (0.05-0.20% processing), min loan (S$100,000).
Sort by Best Fit: Lowest effective rate first, e.g., CIMB SORA +0.60% for competitive edge on condos.
Pros/Cons Snapshot: DBS excels in digital service; HSBC for expats; Maybank for longer tenures.

Homejourney verifies all data from bank APIs for accuracy, unlike static sites. For refinancing, it flags if current loan beats market (e.g., >0.5% savings justifies switch).[1]

Step 4: Apply Home Loan via Singpass (Digital Loan Application)

How to use Singpass for mortgage application on Homejourney: Click 'Apply Now' for multi-bank submission—one form reaches all 11 partners.

Authenticate with Singpass—MyInfo auto-fills income, CPF, employment from gov databases (under 60 seconds).
Upload extras: Payslips, ITR (if self-employed).
Submit: Banks compete; get 3-5 offers in 24-48 hours.

This Singpass loan apply cuts paperwork 80%, with 95% faster approvals per MAS digital guidelines. Track via dashboard—no email chasing.[3]

Read our detailed guide: Apply Home Loan via Singpass: Homejourney's Step-by-Step Guide

Advanced Tips for Best Results

Time Applications: Apply mid-month post-SORA reset for lowest quotes.
Refinance Smartly: If out of lock-in, compare vs current (e.g., save S$200/month on S$800k loan).
HDB Specifics: Ensure MSR compliance; use for BTO/upgrade via HDB portal integration.
Investor Focus: Filter for high LTV (60%) on private properties.

Disclaimer: Rates change daily; Homejourney provides indicative data. Consult certified brokers for personalized advice. Homejourney connects you to mortgage brokers via the platform for free guidance.[1]

FAQ

How accurate are Homejourney bank rates?
Updated real-time from bank sources, verified daily. Always confirm with lender pre-contract.

Can I apply to multiple banks without credit impact?
Yes, Homejourney's soft-check system shows genuine interest without hard inquiries until formal offer.

What if I'm self-employed for Singpass mortgage application?
MyInfo pulls NRIC data; upload 2-year ITR. Approval in 3-5 days.

Does it work for refinancing?
Absolutely—input current loan details for savings calculator. See How to Use Homejourney Mortgage Calculator: 5-Minute Guide .

Is Homejourney safe for digital loan application?
Yes, Singpass-secured, verified partners only. We prioritize user safety per our trust framework.[2]

Mastered how to use Homejourney Bank Rate Comparison? Dive deeper into our pillar on Singapore home financing and start your secure journey today at Homejourney Bank Rates. Find properties via property search or maintain your home with Aircon Services .