How to Use Homejourney Bank Rate Comparison: Your Step-by-Step Guide
Homejourney Bank Rate Comparison lets you instantly compare home loan rates from DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, and more major Singapore banks in one secure platform. This tool calculates your TDSR, MSR, and borrowing capacity to ensure you find the best rates within eligibility limits.[1][2]
Whether you're a first-time HDB buyer or refinancing a condo, Homejourney prioritizes your safety with verified data, Singpass integration, and real-time updates—building trust through transparency.[1][3]
Why Use Homejourney for Bank Rate Comparison?
Singapore's property market demands precise financial planning under MAS regulations like the 60% TDSR limit and HDB's MSR framework. Homejourney's tool simplifies this by showing effective rates (SORA + spread), lock-in periods, and penalties side-by-side.[1][4]
Unlike manual bank visits, compare all partners—DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong, Citibank—in seconds. Access via Homejourney bank rates page for instant insights.[1][2]
This cluster focuses on tactical steps for rate comparison, linking to our pillar guide on Singapore mortgage strategies for comprehensive coverage. Use it to assess borrowing capacity under TDSR before searching properties on Property Search .
Step 1: Access the Tool and Input Your Details
Visit https://www.homejourney.sg/bank-rates. Click 'Start Comparison' and authenticate with Singpass for auto-fill—your income, CPF balance, and debts populate instantly, reducing errors.[3][4]
Enter key details: gross monthly income, existing loans, ages, and property type (HDB/condo). The TDSR calculator applies the 60% cap: total debt repayments ≤ 60% of income. For HDB buyers, MSR limits to 30% of income.[1][4]
- Pro tip: Include all debts (credit cards, car loans) for accurate debt ratio calculation.
- Save time: Singpass cuts input from 20 minutes to under 5.[4]
Step 2: Understand Key Metrics – TDSR, MSR, and Borrowing Capacity
The TDSR calculator shows your maximum monthly repayment across all debts. Example: S$10,000 monthly income allows S$6,000 total debt servicing.[4]
MSR calculator for HDB: Caps at 30% of income using CPF + cash. Debt ratio calculator flags if you're over limits. Eligibility limits display max loan quantum (e.g., 75-90% LTV for first-timer HDB).[1]
Borrowing capacity TDSR estimates purchase power: For S$8,000 household income at 3.5% SORA rate, borrow up to S$1.2M (assuming 30-year tenure).[4]
Insider tip: HDB upgraders from Punggol BTO flats often hit MSR walls—use Homejourney to test scenarios before Projects Directory .
Step 3: Compare Rates Across Banks
View live rates: DBS 3M SORA + 0.7% (effective ~3.2%), OCBC fixed 3.0% 2-year lock-in, UOB board rate -1.5%. Filter by fixed vs floating, tenure (20-30 years).[1]
- Select rate type: SORA (floating, pegged to Singapore Overnight Rate Average).
- Compare spreads, fees, penalties (e.g., 1.5% for early break).
- Sort by lowest effective rate for your profile.
The chart below shows recent interest rate trends in Singapore:
SORA has stabilized around 3% in 2026, favoring floating rates for savvy borrowers. HSBC suits investors with flexible repricing; Maybank offers promo rates for HDB.[1][2]
Step 4: Calculate Affordability and Eligibility
Jump to mortgage calculator. Input property price (e.g., S$1.1M Sengkang condo) to see monthly payments, stamp duties, and cash needed.[1]
Example: S$800K income couple, S$1.4M HDB resale—tool shows S$7,200/month at DBS, within TDSR. Flags if over MSR for family with kids.[4]
- Toggle tenures: 25 vs 30 years saves interest but raises monthly.
- Stress test: Simulates +2% rate hikes per MAS guidelines.
Link results to Property Search for budget-matched listings.
Step 5: Apply to Multiple Banks Simultaneously
Hit 'Apply Now'—one form submits to all banks via Homejourney. Receive competing offers: e.g., OCBC 2.95% vs UOB 3.05%. Track in dashboard.[3][4]
No hard inquiries until you accept. Processing: 1-3 days preliminary, 1-2 weeks formal. Documents auto-submitted via Singpass.[4]
Post-approval, connect agents via Projects or book Aircon Services for new home setup.
Bank Highlights: Quick Comparison
| Bank | Best For | Sample Rate (2026) | Lock-in |
|---|---|---|---|
| DBS | First-timers | SORA +0.65% | 2 years |
| OCBC | Refinancers | Fixed 2.98% | 3 years |
| UOB | HDB | SORA +0.70% | Nil |
| HSBC | Investors | Board -1.4% | 2 years |
Rates fluctuate; always verify live on Homejourney. For refinancing, see Best Bank Refinancing Rates Comparison 2026 | Homejourney .[1]
Practical Tips for Singapore Buyers
Time applications post-Budget for rate dips. HDB buyers: Factor ABSD if upgrading. Use for resale checks in hot areas like Toa Payoh (PSF ~S$2,200).[1][3]
Disclaimer: This is educational; consult Homejourney Mortgage Brokers or advisors for personalized advice. Rates as of Jan 2026; subject to change.[4]
Frequently Asked Questions (FAQ)
How accurate is Homejourney's TDSR calculator?
It uses official MAS/HDB formulas (60% TDSR, 30% MSR) with your real inputs via Singpass. Cross-check with banks for final approval.[4]
Can I compare refinancing rates on Homejourney?
Yes, filter for repricing/refinancing. See full guide: How to Calculate If Refinancing is Worth It | Homejourney .[1]
What if I'm over TDSR limits?
The tool flags this and suggests income boosts or debt reduction. Max borrowing capacity adjusts automatically.[4]
Is Singpass mandatory?
No, but recommended for speed and accuracy. Manual entry available.[3]
How often are rates updated?
Real-time daily from partner banks, tracking SORA movements.[1][2]
Master Homejourney Bank Rate Comparison today at https://www.homejourney.sg/bank-rates. Pair with our pillar on Singapore home loans for full mastery—start your safe journey now.
