Maybank Home Loan vs Other Banks: Which Bank Offers the Best Rates?
When choosing a home loan in Singapore, comparing Maybank's offerings against competitors like DBS, OCBC, UOB, and Standard Chartered is essential to securing the best mortgage deal for your property purchase or refinancing needs. As of December 2025, Maybank remains competitive in Singapore's mortgage market, offering fixed-rate packages starting from 1.65% for 2-year terms on resale properties, though promotional rates from other banks occasionally dip lower.[1] This comprehensive guide helps you understand how Maybank stacks up against other major lenders and identifies which bank may be right for your specific situation.
Understanding Current Singapore Home Loan Market Rates
Singapore's home loan market operates on two primary rate structures: fixed rates and floating rates tied to SORA (Singapore Overnight Rate Average). As of late December 2025, the lowest promotional fixed rates start around 1.45% for 2-year terms, while Maybank's standard 2-year fixed rate sits at 1.65%.[1] For floating-rate products, Maybank offers 3-month compounded SORA packages with spreads starting from +0.40%, compared to promotional rates as low as +0.25%.[1]
It's important to understand that these rates vary significantly based on loan size, property type (HDB vs private), and whether you're purchasing a new or resale property. Larger loans (above S$1-2 million) typically qualify for better rates not advertised publicly.[2] The recent revision of Maybank's Singapore Residential Financing Rate (SRFR) from 7.10% to 5.10% effective December 16, 2025, also impacts customers with board-rate linked mortgages.[3]
The chart below shows recent interest rate trends in Singapore to help you understand how rates have moved and what factors influence mortgage pricing:
As you can see from the chart above, Singapore's mortgage rates have remained relatively stable, with floating-rate products becoming increasingly competitive as SORA has moderated. This makes it an opportune time to evaluate your options across multiple banks.
Maybank Home Loan Products Overview
Maybank offers several home loan packages tailored to different borrower needs. Their primary products include fixed-rate packages (2-year and 3-year terms), floating-rate options linked to 1-month and 3-month compounded SORA, and specialized packages for HDB properties. For completed private properties, Maybank's 2-year fixed rate stands at 1.65% per annum, while their 3-year fixed rate is positioned at 1.75%.[1]
For floating-rate borrowers, Maybank's 3-month compounded SORA package offers a spread of +0.40%, making the effective rate approximately 1.90% (based on current SORA levels around 1.50%).[1] Maybank also provides cash rebates for refinancing customers, with rebates ranging from S$2,000 for loans above S$500,000 to S$2,800 for loans exceeding S$1.5 million.[2] This makes refinancing to Maybank an attractive option for existing borrowers seeking better rates.
Maybank vs DBS: Rate and Feature Comparison
DBS Bank holds the largest market share in Singapore mortgages and leverages its dominant position with substantial Sing dollar funding to offer competitive rates.[2] As of December 2025, DBS's 2-year fixed rate for resale properties is 1.75%, compared to Maybank's 1.65%—giving Maybank a 10 basis point advantage.[1] However, DBS frequently offers promotional rates that can match or beat Maybank's standard rates.
Where DBS differentiates itself is through generous cash rebates (up to S$2,800 for loans above S$1.5 million) and flexible conversion options. DBS allows customers to convert from fixed to floating rates after 24 months (FC24), providing flexibility if market conditions change.[2] Maybank's lock-in periods vary by product, typically ranging from 2-3 years depending on the package selected.
For HDB loans, both banks remain competitive, though DBS's larger branch network and superior digital banking platform give it an edge in customer convenience. If you value ease of refinancing and prefer a bank with extensive local presence, DBS may appeal more. However, if you're seeking the absolute lowest advertised fixed rate, Maybank's 1.65% 2-year package currently edges ahead.
Maybank vs OCBC: Floating Rate Advantages
OCBC Bank distinguishes itself through competitive floating-rate products, though its fixed rates are typically less aggressive than Maybank's. OCBC's 1-month SORA spread of +0.65% is higher than Maybank's +0.40% for 3-month SORA, making Maybank's floating-rate offering more attractive for borrowers expecting SORA to remain stable or decline.[1]
OCBC's strength lies in its relationship banking approach and personalized service, particularly for high-net-worth customers and those with substantial deposits. If you maintain a significant account balance with OCBC, you may negotiate better rates or fee waivers. However, from a pure rate comparison perspective, Maybank's floating-rate spreads are more competitive for standard borrowers.
Maybank vs Standard Chartered and HSBC: Premium Service vs Rates
Standard Chartered and HSBC position themselves as premium mortgage providers, often targeting expatriates and high-income professionals. Standard Chartered's 2-year fixed rate matches Maybank at 1.65-1.68%, while HSBC's rate sits at 1.70%.[1] Both banks offer superior customer service and English-language support, which may appeal to international borrowers.
However, these banks typically impose higher minimum loan amounts and may require additional banking relationships. If you're a local borrower seeking the most competitive rate without premium service requirements, Maybank and DBS remain better choices. If you're an expatriate or value personalized wealth management services alongside your mortgage, Standard Chartered or HSBC may justify their slightly higher rates.
Fixed vs Floating Rate Decision: Which Suits You?
Choosing between Maybank's fixed and floating-rate products depends on your risk tolerance and market outlook. Fixed rates provide payment certainty—you know exactly what your monthly installment will be for the locked-in period (typically 2-3 years). Maybank's 2-year fixed rate of 1.65% guarantees this rate for 24 months, after which you'll refinance or revert to a floating rate.
Floating rates, currently offered by Maybank at 3-month SORA +0.40%, expose you to interest rate fluctuations but typically start lower than fixed rates. If SORA remains stable or declines, floating rates can save you significant money over time. However, if SORA rises sharply, your monthly payments will increase accordingly. Most financial advisors recommend fixed rates for first-time buyers seeking payment predictability, while experienced investors may prefer floating rates if they expect favorable rate movements.
Maybank's Competitive Advantages
Competitive Fixed Rates: Maybank's 1.65% 2-year fixed rate consistently ranks among Singapore's best, particularly for standard loan amounts (S$500,000-S$1 million).[1] This makes Maybank an excellent choice for buyers prioritizing rate competitiveness.
Generous Refinancing Rebates: Maybank's cash rebates for refinancing (up to S$2,800) effectively offset switching costs, making refinancing more accessible. This is particularly valuable if you're currently with another bank and seeking better terms.
Established Market Position: As one of Malaysia's largest banking groups with significant operations in Singapore, Maybank offers stability and extensive branch networks across the island.
HDB Loan Offerings: Maybank maintains competitive HDB loan rates, with renovation loan rates as low as 2.50% for existing customers, adding value beyond purchase financing.[5]
Where Maybank Falls Short
Digital Banking Experience: While Maybank's digital platforms are functional, competitors like DBS and OCBC offer more intuitive mobile banking experiences and superior online loan application processes.
Promotional Rate Frequency: Maybank's promotional rates don't appear as frequently or aggressively as some competitors. DBS and promotional packages often feature rates of 1.45-1.50%, undercutting Maybank's standard offerings.[1]
Limited Large-Loan Advantages: For loans exceeding S$2 million, some competitors offer more substantial rate discounts or flexible terms that Maybank may not match.
