Joint Home Loan Application Complete: Bank Rate Comparison Guide | Homejourney

Once your joint home loan application is complete in Singapore, comparing bank rates is crucial to secure the best deal before accepting a Letter of Offer. Homejourney's bank rates tool lets you instantly compare real-time rates from DBS, OCBC, UOB, HSBC and others, helping couples and co-borrowers maximize savings while prioritizing safety and transparency.

This cluster article builds on our pillar guide, Joint Home Loan Application: Complete Singapore Guide, by focusing on actionable bank rate comparisons after submission. Use Homejourney at https://www.homejourney.sg/bank-rates to let banks compete for your business with one Singpass-enabled application.[1][5]

What Happens After Joint Home Loan Application Submission?

When your joint home loan application complete status is reached, banks like DBS and UOB perform credit checks, TDSR assessments, and valuations within 3-7 working days.[2][5] You'll receive a Letter of Offer (LO) outlining the approved loan amount, interest rate, tenure, and fees. At this stage, shop around—MAS allows 21 days to compare rates without penalty.[1]

Key post-submission steps include:

Review LO details: Check effective interest rate (EIR), lock-in period (typically 2-3 years), and processing fees (0.5-1% of loan).[6]
Compare rates: Use combined income from your joint mortgage Singapore application to negotiate better terms.
Accept or refinance: Sign within the LO validity (usually 2-4 weeks) or pivot to a better offer.

Homejourney simplifies this with real-time rate tracking and multi-bank submissions, ensuring you get competing offers safely.[1][2]

Understanding Key Rate Types for Joint Loans

Singapore bank home loans peg rates to SORA (Singapore Overnight Rate Average), fixed deposits, or board rates. For couples home loan applicants, SORA-pegged loans (3M or 6M) are popular due to flexibility, currently averaging 3.5-4.0% p.a. effective.[1] Fixed rates offer stability for 2-5 years, ideal for HDB upgraders in areas like Punggol or Clementi.

The chart below shows recent interest rate trends in Singapore:

SORA has stabilized around 3.2% in early 2026, making now a good time for locking fixed rates on co-borrower mortgages. Always verify via Homejourney's calculator at https://www.homejourney.sg/bank-rates#calculator.[1]

Bank-by-Bank Rate Comparison for Joint Applications

Compare current rates (as of Jan 2026) for joint borrowers with combined income ≥S$48,000. Rates assume 75% LTV first home, 30-year tenure, IWAA under 45. Homejourney aggregates these for instant side-by-side views.[1][3][4]

Bank	Best Product	Current EIR (SORA+)	Lock-in	Best For
DBS	SORA Loan	3.45% (SORA + 0.65%)	2 years	HDB buyers
OCBC	Fixed Rate	3.60%	3 years	Stability seekers
UOB	Private Home Loan	3.50% (SORA + 0.70%)	2 years	Condos
HSBC	Home Smart	3.55%	2 years	Investors
Standard Chartered	SORA Flexi	3.40%	Nil	Flexible couples

Maybank and CIMB offer competitive 3.48-3.65% for joint apps with min S$30k main + S$12k joint income.[3][4] Public Bank and Hong Leong suit smaller loans for resale HDB near Jurong East.

Pros, Cons & Who Each Bank Suits

DBS: Pros: Fast processing (3 days), strong HDB integration. Cons: Higher fees post-lock-in. Best for Punggol BTO couples.[1]
OCBC: Pros: Low fixed rates, good refinancing. Cons: Stricter self-employed checks. Ideal for Clementi resale.[2]
UOB: Pros: Flexible tenures via IWAA. Cons: Valuation delays. Great for city-fringe condos.[8]
HSBC/StanChart: Pros: No lock-in options, expat-friendly. Cons: Higher min income. For investors.[6]

Citibank, RHB excel in promotions; compare on Homejourney to match your joint application profile.

Actionable Steps: Optimize Rates Post-Application

Calculate eligibility: Use Homejourney's tool at https://www.homejourney.sg/bank-rates#calculator with combined income, factoring TDSR ≤55%.[1]
Compare instantly: Visit https://www.homejourney.sg/bank-rates for live rates from all 11 banks.
Submit multi-bank app: One Singpass form gets offers from DBS to Maybank—banks bid for you.
Negotiate: Leverage your LO to shave 0.1-0.3% off rates, especially if SORA dips.
Find properties: Match budget via https://www.homejourney.sg/search.[2]

Disclaimer: Rates fluctuate; Homejourney provides indicative data. Consult brokers for personalized advice. Not financial advice.[1][5]

FAQ: Joint Home Loan Bank Rates

1. How long after joint application complete can I compare rates?
MAS gives 21 days from first LO. Use Homejourney for instant multi-bank views.[1][5]

2. Which bank has lowest joint mortgage Singapore rates now?
Standard Chartered at 3.40% (no lock-in), but DBS leads for HDB. Check Homejourney bank-rates.[3]

3. Can parents join as co-borrowers for better rates?
Yes, IWAA extends tenure. Verify HDB rules; Homejourney brokers guide you.[1][2]

4. What's better: SORA or fixed for couples home loan?
SORA for flexibility if rates fall; fixed for budgeting. Trends chart above helps decide.[1]

5. How to apply to multiple banks safely?
Via Homejourney's secure platform—one app, Singpass auto-fill, competing offers.[5]

Ready to compare? Head to https://www.homejourney.sg/bank-rates for your Joint Home Loan Application Complete: Bank Rate Comparison Guide. Link back to our pillar for full details: Joint Home Loan Application: Complete Singapore Guide. Homejourney prioritizes your safety with verified data and trusted brokers.