OCBC Home Loan vs Other Banks: Which Offers the Best Value in 2026?
OCBC's home loan offerings are competitive in Singapore's current mortgage market, but how do they truly stack up against DBS, UOB, HSBC, and Standard Chartered? As of January 2026, OCBC's fixed rates start at 1.65% for 2-year terms on HDB flats, while their floating rates begin at 1M SORA + 0.65%[1]. This positions OCBC in the mid-to-upper range of Singapore's mortgage landscape—not the absolute lowest, but with distinct advantages that make them worth serious consideration for specific borrower profiles.
At Homejourney, we prioritize giving you transparent, verified information to make confident decisions. This complete comparison examines OCBC's strengths, weaknesses, and how they compare directly to Singapore's other major lenders, helping you determine whether OCBC is the right choice for your home financing needs.
OCBC Home Loan Overview: Market Position & Products
OCBC Bank is one of Singapore's "Big Three" banks and holds a significant market share in home lending. With the integration of POSB, OCBC has strengthened its position as a major player in residential mortgage financing[3]. The bank offers a comprehensive suite of home loan products including fixed-rate packages, floating-rate options, and specialized products for HDB upgraders and private property buyers.
OCBC's primary home loan products include:
- Fixed Rate Home Loans – Rates locked for 2-5 years with predictable monthly payments
- SORA-based Floating Loans – Interest rates tied to the Singapore Overnight Rate Average, adjusting monthly or quarterly
- Board Rate Options – Traditional floating rates pegged to the bank's prime lending rate
- HDB Loan Conversion – Switching existing HDB loans to bank financing
- Refinancing & Repricing – Options to restructure existing OCBC mortgages
What distinguishes OCBC is their focus on customer switching programs. In the first 11 months of 2025, OCBC saw a seven-fold increase in HDB loan conversions, with homeowners saving up to S$4,100 annually by switching to a 5-year fixed rate package[2]. This reflects OCBC's aggressive positioning to capture market share from HDB's concessionary 2.6% rate.
Current OCBC Home Loan Rates: January 2026
Understanding OCBC's current rate offerings is essential for comparing value. Here's where OCBC stands as of January 2026:
Fixed Rate Options (HDB Flats):
- 2-Year Fixed: 1.65%[1]
- 3-Year Fixed: Available upon inquiry
Floating Rate Options:
Refinancing Rates:
- 3M SORA + 0.50% (competitive floating option)
- 2-Year Fixed: 1.65% (matching new purchase rates)
- Cash rebates: S$2,000-S$2,800 depending on loan amount[3]
The chart below shows recent interest rate trends in Singapore to help you understand how OCBC's rates compare to the broader market movement:
As you can see from the chart, Singapore's mortgage rates have been in a sharp downtrend throughout 2025, with fixed rates nearly halving from approximately 3.1% at the start of 2025 to current levels between 1.4% and 1.8%[2]. OCBC's rates reflect this market trend, though they sit slightly higher than the absolute lowest promotional rates available from some competitors.
OCBC vs DBS: Direct Rate Comparison
DBS Bank currently offers more aggressive promotional rates than OCBC, particularly for larger loan amounts. For HDB flats, DBS's 2-year fixed rate stands at 1.65%, matching OCBC exactly[1]. However, DBS differentiates itself through:
- Larger loan advantages – DBS can offer rates as low as 1.35% for loans above S$2 million due to their dominant position and access to Singapore dollar funding[3]
- POSB HDB Loan product – Specialized HDB refinancing with 1.55% 3-year fixed rates and no early repayment penalties[2]
- Faster processing – DBS saw a 13-fold increase in HDB loan refinancing volume in late 2025, indicating streamlined processes[2]
Verdict: For loans under S$500,000, OCBC and DBS are roughly equivalent. For loans above S$1 million, DBS typically offers superior rates due to their funding advantage. However, OCBC's customer service and switching incentives may offset rate differences for some borrowers.
OCBC vs UOB: Feature & Rate Comparison
UOB is another major competitor in Singapore's home lending market. While specific UOB rates weren't detailed in current market data, UOB generally competes on service quality and digital banking capabilities rather than always offering the lowest rates. Key differences include:
- SORA spread advantage – UOB's floating rates typically start at 3M SORA + 0.40%, which is 0.25% lower than OCBC's 0.65% spread[1]
- Digital experience – UOB has invested heavily in online mortgage application and management
- Refinancing incentives – Competitive cash rebates and switching bonuses
Verdict: If you're considering floating-rate loans, UOB's lower SORA spread makes them more attractive than OCBC. For fixed-rate borrowers, the difference is minimal.
OCBC vs HSBC & Standard Chartered: Premium Bank Comparison
HSBC and Standard Chartered position themselves as premium banks with strong international presence. Their current rates reflect this positioning:
- HSBC 2-Year Fixed – 1.70% for HDB flats (0.05% higher than OCBC)[1]
- Standard Chartered 2-Year Fixed – 1.68% for HDB flats (0.03% higher than OCBC)[1]
These banks typically attract borrowers who value:
- Premium customer service and relationship management
- International banking integration
- Specialized products for high-net-worth individuals
- Wealth management integration with mortgages
Verdict: OCBC offers better rates than HSBC and Standard Chartered for standard home loans. Choose the premium banks only if their additional services justify the higher cost.
OCBC Home Loan Pros: Why Choose OCBC?
1. Strong HDB Conversion Program – OCBC's aggressive focus on converting HDB loans to bank financing means they've optimized this process. If you're an HDB upgrader, OCBC understands your situation well and can potentially save you S$4,100+ annually[2].
2. Competitive Fixed Rates – At 1.65% for 2-year HDB loans, OCBC matches or beats most competitors for standard loan amounts (S$300,000-S$800,000).
3. Integrated Banking Platform – With POSB integration, OCBC offers seamless digital banking, making loan management convenient for existing customers.
4. Flexible Refinancing Options – OCBC's repricing products allow existing customers to restructure loans without switching banks, with competitive rates and cash rebates up to S$2,800[3].
5. Customer Service Reputation – OCBC's home loan team, led by experienced professionals like Maryanne Phua (Head of Home Loans), demonstrates commitment to customer education and support[2].
