How to Use Homejourney Bank Rate Comparison: Step-by-Step Guide
Homejourney Bank Rate Comparison lets you instantly compare mortgage rates from DBS, OCBC, UOB, HSBC, Standard Chartered, and more in one secure platform, saving time and ensuring you get the best deals.[1][2]
This cluster article dives into using Homejourney's bank rate comparison tool, building on our pillar guide to Singapore home loans. As Singapore's trusted platform prioritizing user safety and transparency, Homejourney verifies all rates in real-time for confident decisions.[1][3]
Why Use Homejourney for Compare Bank Rates Singapore?
Traditional rate shopping means visiting multiple bank sites or calling officers, often missing key details like lock-in penalties or SORA spreads. Homejourney aggregates live data from all major banks, showing DBS OCBC UOB rates side-by-side with filters for loan type, tenure, and LTV ratio.[1][2][4]
Our platform uses Singpass for secure, auto-filled applications, letting banks compete for your business. This aligns with Homejourney's commitment to a safe environment, verified data, and user feedback-driven improvements.[1][3]
For first-time HDB buyers or condo investors, this mortgage rate comparison app factors in TDSR limits and MSR rules from MAS and HDB, helping you stay compliant.[1]
Step-by-Step: How to Use Homejourney Bank Rate Comparison
Access the tool at https://www.homejourney.sg/bank-rates via app or web—available on iOS with Singpass integration.[5][6]
Step 1: Land on Bank Rates Page
Visit https://www.homejourney.sg/bank-rates. See a dashboard with current rates from DBS (SORA Pibor +0.7%), OCBC (Fixed 2Y at 3.2%), UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong, and Citibank. Rates update daily, pegged to 3M/6M SORA averaging 3.0-3.2% in early 2026.[1][2][4]Step 2: Filter Your Needs
Select property type (HDB/Resale/Private), loan amount (e.g., S$500K), tenure (25-30 years), and rate type (SORA, Fixed, Board). Compare effective rates including spreads—e.g., DBS lowest for HDB at SORA+0.65%, OCBC best for fixed short-term.[4]Step 3: Use Mortgage Calculator
Jump to https://www.homejourney.sg/bank-rates#calculator. Input income (e.g., S$8K household), debts, and see borrowing power under TDSR 55% (max S$1.2M for S$10K income). Matches properties via https://www.homejourney.sg/search.[1][2]Step 4: Compare Pros & Cons
View lock-ins (1-3Y, penalties 1.5%), fees, and who suits: DBS for stability, UOB for flexibility, HSBC for expats. Insider tip: Time fixed rates when SORA dips below 3% for HDB upgraders in areas like Punggol.[1][4]Step 5: Apply Multi-Bank
Click 'Apply Now' with Singpass—submit once, get offers from all partners. No bank visits needed, faster approvals (3-7 days).[1][3]
Understanding SORA and Current Rates
SORA (Singapore Overnight Rate Average) is MAS's risk-free benchmark replacing SOR/SIBOR. Most loans are SORA-pegged (90% market share), with spreads 0.6-1.0%.[1]
The chart below shows recent interest rate trends in Singapore:
As seen, 3M SORA stabilized at ~3.05% post-2025 hikes, favoring floating rates for long-term holders. Fixed rates (e.g., OCBC 2Y at 3.15%) suit short-term if expecting rises. Always check Homejourney bank rates for live updates.[4]
Bank Spotlights: DBS, OCBC, UOB Rates
DBS: Market leader (40% share), offers SORA+0.65% (effective 3.7%), 2Y fixed 3.2%. Pros: Fast processing (3 days), HDB specialist. Cons: Higher fees post-lock-in. Best for resale flats in Toa Payoh.[1][4]
OCBC: Strong fixed options (3Y at 3.25%), SORA+0.7%. Pros: Refi-friendly, low penalties. Cons: Stricter eligibility. Ideal for BTO in Tengah.[1]
UOB: Flexible SORA+0.68%, board rates competitive. Pros: Investor packages, quick repricing. Best for condos in Orchard.[1]
Compare all at https://www.homejourney.sg/bank-rates. See related: Compare Singapore Bank Mortgage Rates in One Place | Homejourney and How to Use Homejourney Mortgage Calculator: Step-by-Step Guide .
Tips for Best Mortgage Rates with Homejourney
- Track SORA via Homejourney for timing—refi if spread >0.8% vs market.[4]
- Use eligibility calculator before viewing via property search.
- For post-purchase, book Aircon Services ">aircon services for maintenance.
- Refinancing? Check Best Bank Refinancing Rates Comparison 2026 | Homejourney .
- Disclaimer: Rates fluctuate; consult Homejourney brokers for personalized advice. Not financial advice—verify with MAS/HDB.[1]
FAQ: How to Use Homejourney Bank Rate Comparison
Q: How often are rates updated on Homejourney?
A: Real-time daily from banks, with live SORA tracker. More accurate than manual checks.[1][4]
Q: Can I compare DBS OCBC UOB rates for HDB loans?
A: Yes, filter by HDB—see MSR/TDSR impacts instantly.[1]
Q: Is Singpass safe for applications?
A: Fully verified, prioritizing user security like all Homejourney tools.[3][6]
Q: Best bank rate comparison tool for investors?
A: Homejourney shows LTV, ARBL-compliant rates across all 11 banks.[1]
Q: How to calculate if refinancing saves money?
A: Use our calculator and guide: How to Calculate If Refinancing is Worth It: Homejourney Guide .
Master how to use Homejourney Bank Rate Comparison today at https://www.homejourney.sg/bank-rates. Connect with our mortgage brokers for tailored guidance, ensuring a safe, transparent journey. Explore our pillar on Singapore home loans for full coverage.
