OCBC Home Loan Review Complete vs Other Banks Comparison | Homejourney
OCBC home loans offer competitive fixed and SORA-pegged rates starting from 1.65% for 2-year fixed packages, making them a solid mid-tier choice compared to leaders like DBS (1.75%) and promo rates as low as 1.45%.[1][2] This OCBC Home Loan Review Complete vs Other Banks Comparison breaks down rates, pros, cons, and when to choose OCBC for your HDB or private property purchase or OCBC refinance.
As part of Homejourney's pillar guide on Singapore home loans, this cluster focuses on tactical comparisons to help first-time buyers and refinancers decide confidently. Homejourney verifies rates in real-time and prioritizes your safety with transparent tools like our multi-bank application system.
OCBC Bank Overview and Loan Types
OCBC, one of Singapore's 'Big Three' banks alongside DBS and UOB, holds a strong market position with extensive HDB and private property financing experience.[2][5] They provide fixed-rate packages (1-5 years lock-in), floating SORA loans (1M/3M Compounded SORA + spread), and Mortgage Board Rate (MBR) options.
Unique features include cash rewards up to S$2,800 for refinancing and flexibility for HDB upgraders.[4] For new purchases, OCBC suits buyers seeking stability, with four in five customers choosing fixed packages in 2025 for predictable repayments.[2]
Current OCBC Rates vs Other Banks (Dec 2025)
OCBC's rates are competitive but not the lowest. For resale HDB, OCBC offers 2-year fixed at 1.65%, behind promos at 1.45% and Maybank at 1.55%.[1] Fixed rates have fallen sharply from 3.1% early 2025 to 1.4-1.8% now, tracking SORA's drop to 1.2%.[2]
| Bank | Loan Type | Year 1 Rate | Year 2 Rate |
|---|---|---|---|
| Promo | 2 Yr Fixed (HDB) | 1.45% | 1.45% |
| Maybank | 2 Yr Fixed | 1.55-1.65% | 1.55-1.65% |
| OCBC | 2 Yr Fixed | 1.65% | 1.65% |
| DBS | 2 Yr Fixed | 1.65-1.75% | 1.65-1.75% |
| SCB | 3M SORA | +0.50% | +0.50% |
| OCBC | 1M SORA | +0.65-0.98% | +0.65-0.98% |
SORA (Singapore Overnight Rate Average) is the key benchmark for floating rates, now at 1.2% lows.[2] OCBC's 1M SORA +0.98% (Year 1) equals ~2.18% effective, higher than DBS/HSBC at +0.50% (~1.7%).[1][4]
The chart below shows recent interest rate trends in Singapore:
As seen in the chart, SORA fell from 3% to 1.2% in 2025, boosting fixed-rate appeal.[2] Compare all rates instantly on Homejourney's bank rates page.
OCBC Fixed Rate vs SORA: Pros and Cons
OCBC fixed rate packages (e.g., 2Y at 1.65%) offer stability, ideal for budgeting on a S$500,000 loan—saving up to S$4,100 yearly vs higher rates.[2][4] Lock-in penalties apply (1.5% Year 1 prepayment).
- Pros: Predictable payments; popular for HDB buyers (80% choose fixed).[2] Good for OCBC housing loan on resale flats.
- Cons: Higher than promos/Maybank; SORA floaters cheaper if rates stay low.[1]
- Best for: Families in mature estates like Toa Payoh, prioritizing certainty over lowest initial rates.
Vs competitors: OCBC trails DBS's 1.55% 3Y fixed (no early repayment penalty) but beats UOB/HSBC on rewards.[1][2] For refinancing, OCBC saw 7x uptake in 2025.[2]
Who Should Choose OCBC Mortgage?
Opt for OCBC mortgage review highlights if you're an existing OCBC customer (seamless switch), HDB upgrader, or value rewards. Avoid if chasing sub-1.5% promos from Maybank/SCB.[1]
Actionable steps:
- Check eligibility on Homejourney mortgage calculator—input income, see OCBC fit.
- Compare vs DBS/UOB on Homejourney bank rates.
- Apply via Singpass on Homejourney—submit once, get offers from OCBC, DBS, HSBC, etc.
Read our full OCBC Home Loan Review 2026 Guide for details.
OCBC Application Process and User Experience
Documents: NRIC, income proof, OTP/Sale Agreement, CPF statements. Processing: 1-3 weeks for HDB, faster with Homejourney Singpass auto-fill.[5] Approval based on TDSR (60% debt cap), MSR (30% for HDB).
OCBC's app excels in repayment tracking; customer service strong but wait times peak at month-end. Refinancing is smooth, with 2025 switches surging.[2] Homejourney simplifies: Let banks compete for you.
Disclaimer: Rates fluctuate; consult professionals. Homejourney provides verified data but not financial advice.
FAQ
Is OCBC home loan better than DBS?
OCBC edges on rewards but DBS offers lower fixed rates (1.55-1.75%). Compare on Homejourney.[1][2]
What is OCBC's best fixed rate in 2026?
2-year fixed at 1.65% for HDB/private; check Homejourney for updates.[1][4]
Can I refinance to OCBC now?
Yes, with SORA lows—save via fixed switch. Use Homejourney multi-bank apply.[2][4]
How does OCBC SORA compare?
+0.65-0.98%, higher than DBS (+0.50%). Fixed better for stability.[1]
Where to apply safely?
Via Homejourney—Singpass, real-time rates, trusted by Singapore buyers.
