Multi-Bank Mortgage in One Click: Homejourney’s Key Advantages

The benefits of multi-bank application in one click for Singapore home buyers are simple: you apply to multiple banks’ mortgages at once, let banks compete for you, and get the best mortgage rate without repeating forms, risking your credit score, or guessing which bank to try first. With Homejourney, this entire process is done securely via Singpass, with verified bank partners and transparent comparisons designed around user safety and trust.

This cluster guide focuses on how multi-bank application works in practice, and why it matters for your HDB, condo, or refinancing decision—building on our main pillar guide, the Singapore Home Loan Guide 2026 on Homejourney.

What Is a Multi-Bank Application in One Click?

A multi-bank application means submitting one digital mortgage form that goes to several banks at the same time—such as DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong Bank, and Citibank—so you receive multiple offers in parallel instead of applying one by one.[1][2]

On Homejourney, this is done through a Singpass/MyInfo-powered home loan application: you log in with Singpass, consent to share your income and CPF data, and the system auto-fills what banks need for a Home Loan or Approval-in-Principle (AIP).[1][2]

Instead of walking into a DBS branch at Tampines, then an OCBC branch at Bedok, then a UOB at Toa Payoh on separate days, you complete everything in minutes from home—whether you are buying a BTO in Tengah, a resale flat in Ang Mo Kio, or a condo in Punggol.[1][2]

How Multi-Bank Application Protects Your Time and Credit Score

Traditionally, applying bank by bank can take 5–7 working days per bank, with repeated document uploads, emails, and branch visits.[1] If you try five banks, that can easily stretch over a month.

With Homejourney’s multi-bank application in one click, buyers commonly receive indicative responses from multiple banks within 24–48 hours, because your documents and profile reach all participating banks at the same time via a standardized data set.[1][2]

A key benefit is a single Credit Bureau Singapore (CBS) enquiry instead of multiple separate hard checks, which can otherwise signal risk to lenders if done repeatedly in a short period.[1] Homejourney’s process is specifically designed to minimise unnecessary hard pulls while still giving banks enough verified information to assess you accurately.

From my experience helping buyers upgrading from a 4-room HDB in Sengkang to a private condo in Serangoon, the most stressful part is often the gap between exercising the Option to Purchase and securing a firm loan approval. A multi-bank submission compresses that waiting time significantly, which is critical when you’re watching HDB and private prices moving quarter by quarter based on HDB and URA data.[1]

Letting Banks Compete for You: Getting the Best Mortgage Rate

The strongest financial benefit is that banks compete for your loan. Instead of you chasing banks, lenders can see that you are also in talks with other major players and may respond with more competitive spreads or packages to secure your business.[1][2]

Recent examples on Homejourney show that users can often secure about 0.2–0.5% lower rates compared to just accepting the first offer they receive, especially when comparing multiple SORA-pegged and fixed packages side by side.[1][2]

For a S$1,000,000 loan over 25 years, a 0.3% difference in interest rate can mean more than S$2,000 in savings per year, or over S$50,000 across the loan tenure, depending on your exact structure.[1]

In one real Homejourney scenario, a Tampines couple upgrading from a 4-room HDB (around S$550,000) to a Punggol condo of about S$1.2 million saw UOB and HSBC competing actively after a multi-bank submission. The selected offer worked out to roughly S$15,000 in interest savings over the lock-in period compared to the first individual offer they received.[1]

Understanding SORA, Fixed, and Other Rate Types

Most banks in Singapore now price floating packages off SORA (Singapore Overnight Rate Average), which replaced SIBOR as the key reference rate under MAS’ move towards more transparent and transaction-based benchmarks.[1][2]

On Homejourney’s bank-rates page, you will typically see:

3M SORA packages – rate = 3M SORA + spread (e.g. 3M SORA 3.0% + 0.5% spread = 3.5%).[1]
Fixed-rate packages – e.g. 3.2% fixed for 2 or 3 years, then reverting to a floating structure.[1][2]
Board-rate packages – pegged to a bank’s internal rate, less common but still offered by some lenders.

As of early 2026, 3M SORA has hovered around 3.0%, with major banks like DBS, OCBC, and UOB offering SORA packages with spreads in the 0.5–0.9% range, and fixed packages around the low-to-mid 3% level, subject to frequent revisions.[1][2]

The chart below shows recent interest rate trends in Singapore:

By viewing rate trends in this way, you can decide whether to lean towards a fixed rate for certainty if you think rates may rise, or a SORA package if you expect rates to soften and want flexibility. Homejourney’s real-time SORA tracking helps you watch this closely before you click “Apply to All Banks”.[1][2]

Step-by-Step: How to Apply to Multiple Banks’ Mortgages on Homejourney

To maximise the benefits of multi-bank application in one click, follow this simple, practical flow on Homejourney:

Check your affordability first
Use Homejourney’s mortgage eligibility and affordability calculator at Mortgage Rates or to estimate your maximum loan under MAS’ Total Debt Servicing Ratio (TDSR) of 60%, factoring in your income, existing debts, and loan tenure.[1]
Shortlist properties within budget
Search for homes that fit your budget at Property Search . Whether it is a 4-room HDB in Yishun around S$520,000 or a mass-market condo in Jurong at S$1.3 million, aligning price with borrowing power helps avoid loan rejection or cash-flow stress.
Review live bank rates
Head to Bank Rates to compare bank offers from DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong Bank, and Citibank in real time. You will see differences in spreads, fixed vs floating packages, lock-in periods, and free conversion or legal subsidies.[1][2]
Login with Singpass/MyInfo
Click “Apply Now” and log in via Singpass. Homejourney uses MyInfo to auto-fill your NRIC, income (IRAS), CPF contribution history, and personal details, reducing manual entry by up to 80%.[1][2]
One-click multi-bank submission
After confirming your details and preferred loan amount, select “Apply to All Banks” or choose specific banks. With one click, your application is securely submitted to multiple lenders at once—no repeated uploads or forms.
Compare and choose with guidance
Within 1–3 working days, you can see conditional offers and indicative AIPs on your Homejourney dashboard. Our Homejourney Mortgage Brokers (reachable through the same Bank Rates page) can help you interpret lock-in clauses, repricing fees, and subsidy clawbacks before you decide.

For a detailed Singpass walk-through, see: Step-by-Step Singpass Loan Application Guide with Homejourney and Step-by-Step Singpass Home Loan Application Guide | Homejourney .

Singapore-Specific Benefits: HDB, Condo, and Refinancing Scenarios

1. HDB first-time buyers
If you are buying a 4-room HDB resale in places like Bishan, Tampines, or Bukit Batok—where average resale prices can hover between the mid S$500,000s to S$700,000s depending on age and location—choosing between an HDB loan (2.6%) and a bank loan is a big decision.[1]

A one-click multi-bank application lets you see if bank packages (for example, 3M SORA + 0.5% or 3.2% fixed for 2 years) still make sense given your risk appetite and holding period, compared to the stability of the HDB loan pegged to CPF OA rates plus 0.1%.[1]

Insider tip: If you are targeting popular town centres near MRT stations like Punggol MRT, Jurong East MRT, or Serangoon MRT, sellers often negotiate hard. Having several AIPs ready from different banks via Homejourney strengthens your position and speeds up the Option-to-Purchase stage.

2. Private condo and EC buyers
For new launch condos or ECs in areas like Tengah, Lentor, or Pasir Ris, developers often have a list of “panel banks” on site. While convenient, those may not be the only or best packages in the market.

By doing a multi-bank application via Homejourney first, you can benchmark developer-referred offers against wider market packages from DBS, OCBC, UOB, and other banks—then decide which is truly the most competitive for your situation.

3. Refinancing existing loans
If your 2- or 3-year lock-in from a 2022–2023 mortgage with a board rate or older SIBOR package is ending, refinancing in 2026 could reduce your monthly instalments or give you more stable rates.

Using Bank Rates , you can see best bank refinancing rates across partners instantly, then send one application to multiple banks. This is far safer than manually hopping between bank sites because you see all lock-in, legal subsidy, and clawback conditions side by side. For more, refer to Best Bank Refinancing Rates Comparison 2026 | Homejourney .

How Homejourney Keeps the Process Safe, Transparent, and User-Centric

Homejourney is built around user safety, verified partners, and transparent information—critical for something as serious as a 25–30 year mortgage commitment.

Verified bank partnerships
All banks on Homejourney are established MAS-regulated institutions like DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong Bank, and Citibank.[1][2]
Singpass/MyInfo integration
Your data flows through secure government channels (Singpass/MyInfo), and Homejourney adds platform-level encryption and strict permissions, so banks receive only what is needed to assess your loan.
Clear breakdown of costs
Offers are displayed with interest rate, lock-in period, partial prepayment penalties, legal and valuation subsidies, and any clawback periods. This reduces mis-selling risk and makes it easier to spot “too good to be true” deals.
Feedback-driven improvements
Homejourney continuously refines its bank-rates interface and calculators based on real user feedback—such as clearer monthly instalment estimates, mobile-first layouts, and more obvious warnings where TDSR or MSR (for HDB) may be tight.
No fee to users
Homejourney is typically remunerated by the bank you choose, so there is no extra charge to you for using the multi-bank feature. You get independent comparisons and broker support without paying out of pocket.

To explore rates and safety-first comparisons, start at Bank Rates .

When a Multi-Bank Application May Not Be Enough

While multi-bank application in one click is powerful, there are situations where you should get personalised professional advice before committing:

Complex income structures (self-employed, commission-based, multiple properties).
High gearing with existing car loans, study loans, or investment property mortgages.
Eligibility questions around HDB, EC, or private properties for foreigners and PRs under current HDB and URA rules.

In such cases, use the Homejourney Mortgage Brokers service via Bank Rates to discuss your situation in detail. Also refer to official sites like MAS, HDB, and IRAS where appropriate for regulatory clarity.

Disclaimer: The information in this article is for general educational purposes only and does not constitute financial advice. Interest rates, regulations, and policies may change; always verify current details with banks, MAS, HDB, and qualified professionals before making decisions.

Linking Back to the Pillar: Your Next Steps

If you are serious about buying or refinancing in Singapore, your next steps should be:

Read our main pillar guide: Singapore Home Loan Guide 2026 on Homejourney for an end-to-end understanding of TDSR, MSR, LTV limits, legal costs, and loan structures.
Use to estimate your borrowing power.
Browse suitable properties within budget at Property Search and explore projects data at Projects or Projects Directory .
When ready, tap “Apply to All Banks” on Bank Rates to experience the full benefits of multi-bank application in one click.
After purchase, keep your home in good condition with trusted services like Aircon Services and other Homejourney-vetted partners.

FAQ: Multi-Bank Application in One Click

1. Does applying to multiple banks through Homejourney hurt my credit score?

No. Homejourney structures your multi-bank application so that banks receive standardised information and checks are managed carefully, avoiding multiple unnecessary hard enquiries that might otherwise affect your Credit Bureau Singapore score.[1][2] You still get multiple offers, but without the usual credit score risk of going bank by bank.