OCBC Home Loan Review: Rates & Fees 2026 | Homejourney
OCBC home loans offer competitive fixed rates starting at 1.60% for 2 years and flexible SORA-pegged floating options from 1M SORA + 0.25% (around 1.36%), with fees like processing charges and lock-in penalties typically 1-2% of loan amount.
At Homejourney, we prioritize your safety and trust by verifying real-time rates from OCBC and other banks like DBS, UOB, and HSBC. This cluster dives deep into OCBC's offerings, linking back to our pillar guide on OCBC Home Loan Review 2026: Complete Guide for full coverage.
OCBC Bank Overview: Market Position and Loan Types
OCBC, one of Singapore's 'Big Three' banks alongside DBS and UOB, holds a strong position in home financing with a focus on flexibility. They provide home loans for HDB flats and private properties, including new purchases, refinancing, and repricing.
Key products include fixed-rate packages (2-5 years lock-in) for payment stability and SORA-linked floating rates for potential savings if rates fall. OCBC emphasises partial prepayments without penalty after lock-in and easy repricing, ideal for HDB upgraders or private property investors in areas like Punggol or Orchard.
In 2025, OCBC saw a sevenfold increase in HDB owners switching from 2.6% HDB loans to their lower bank rates, saving up to S$4,100 annually on a S$500,000 loan.
Current OCBC Home Loan Rates 2026
As of February 2026, OCBC's rates reflect the sharp downtrend in Singapore mortgages, with fixed packages at 1.4-1.8% p.a. and floating tied to falling SORA (now ~1.2%). Rates tier by loan size: sharper for loans over S$1M.
| Product | Year 1 Rate | Lock-in | Min Loan | Subsidy (Refi) |
|---|---|---|---|---|
| 2Y Fixed | 1.60% Fixed | 2 years | S$400k (Private) | S$2,000-2,800 |
| 5Y Fixed | 1.55-1.78% | 5 years | S$500k | Up to S$2,800 |
| 1M SORA Floating | SORA + 0.25% (~1.36%) | 2 years | S$500k | S$2,300 |
These beat HDB's 2.6% rate, but compare instantly on Homejourney bank rates against DBS (1.50% POSB HDB) or UOB. Four in five OCBC customers chose fixed rates for stability in 2025.
SORA, Singapore's benchmark since replacing SOR, directly tracks interbank costs. The chart below shows recent interest rate trends in Singapore:
As shown, SORA dropped from 3% to 1.2%, driving OCBC floating rates lower than fixed options.
OCBC Home Loan Fees and Charges Explained
OCBC charges a processing fee of ~S$200-500, valuation fees (S$500-1,500 for private properties), and legal fees (~S$1,500-3,000). Lock-in breakage penalties are 1.5% of outstanding loan in year 1, tapering to 0.5% in year 2.
Refinancing subsidies offset costs: S$2,000 cashback for S$500k+ loans, up to S$2,800 for S$1.5M+. No early repayment penalty on fixed after lock-in, unlike some peers. Always calculate total costs using Homejourney's mortgage calculator.
Pros and Cons of OCBC Mortgage
Pros:
- Competitive fixed rates (1.60% 2Y) with high demand for stability.
- Flexible repricing and partial prepayments for HDB/private.
- Strong subsidies (S$2,800 max) and 7x HDB switch growth.
- Singpass integration for fast applications via Homejourney.
Cons:
- Higher min loan (S$400k private) vs some banks.
- Floating spreads (0.25%) slightly above market lows (0%).
- Lock-in penalties if selling early, common for BTO waits.
Best for risk-averse first-time buyers or refinancers with stable income. Compare vs DBS/UOB on Homejourney for your profile.
OCBC Home Loan Application Process
- Check Eligibility: Use Homejourney's calculator at bank-rates#calculator for TDSR/LTV (up to 75% LTV for HDB).
- Gather Docs: NRIC, income slips (3 months), CPF statements, property Option to Purchase.
- Apply via Homejourney: One-click Singpass auto-fill to OCBC + others (DBS, HSBC) simultaneously.
- Approval: 3-7 days; valuation 1-2 weeks.
- Drawdown: Legal completion, funds to seller.
Homejourney's multi-bank system lets banks compete, saving time and getting best offers. Track real-time SORA on our platform.
Customer Experience and Refinancing with OCBC
OCBC's app offers easy repricing (no valuation needed) and 24/7 chat. Users praise quick HDB switches, but some note slower private property approvals. For investors, see our Best Bank Loans for Property Investors in Singapore 2026 | Homejourney ">Best Bank Loans for Property Investors.
Refinance now: Rates halved since 2025; save S$500/month like DBS switchers. Homejourney simplifies with one application to OCBC, UOB, Maybank.
FAQ: OCBC Home Loan Questions
What is OCBC's best fixed rate in 2026?
2-year fixed at 1.60% for S$500k+ loans, with free conversion after lock-in.
Are OCBC rates better than HDB loans?
Yes, 1.55-1.78% vs 2.6%; ideal for refinancing if no future HDB needs.
How much are OCBC refinancing fees?
Processing S$200-500 + legal S$1,500-3,000, offset by S$2,000+ rebates.
Can I prepay OCBC home loan early?
Partial prepayments allowed post-lock-in; full repayment penalties apply during.
Compare OCBC vs other banks on Homejourney?
Yes, instant comparison at Homejourney bank-rates with eligibility tools.
Disclaimer: Rates fluctuate; not financial advice. Consult Homejourney mortgage brokers or professionals. Data from MAS, HDB, bank sites Feb 2026.
Ready to secure the best OCBC or multi-bank deal? Start at Homejourney bank-rates, calculate affordability, and apply safely with Singpass. Find properties in budget via property search. Trust Homejourney for verified, transparent financing.
