Who Should Choose Maybank Home Loan? A Comprehensive Review for Singapore Buyers
Maybank is an excellent choice for Singapore homebuyers seeking competitive fixed rates, flexible financing options, and Islamic banking alternatives, particularly if you value established financial stability and comprehensive loan solutions tailored to your needs.[1][3] As Singapore's 4th largest bank in Southeast Asia by assets with over 6 decades of financial expertise, Maybank offers home loan packages for both HDB and private properties with rates starting from 1.55% for 2-year fixed packages and competitive SORA-pegged options.[1][2]
At Homejourney, we prioritize helping you make informed decisions about your mortgage by providing transparent, verified information about every major lender in Singapore. This Maybank home loan review examines whether this bank aligns with your specific financial situation and property goals.
Understanding Maybank's Market Position in Singapore
Maybank Singapore operates as part of the Maybank Group and holds an "A1/P-1" credit rating from S&P, with total assets of S$81.5 billion as of its latest annual report.[3] The bank pioneered Islamic banking services in Singapore, making it the first to offer Shariah-compliant property loans—a significant advantage if you require Islamic financing solutions.[3]
Among Singapore's 12 active mortgage lenders, Maybank ranks among the 7 Domestically Systematically Important Banks (D-SIBs) with the operational depth and scale to offer competitive rates and flexible terms.[4] This institutional strength means Maybank has the infrastructure to process applications efficiently and provide ongoing customer support throughout your loan tenure.
Maybank Home Loan Products: What You Need to Know
Maybank offers distinct home loan packages for different property types and borrower preferences. Understanding these options helps you identify which product suits your situation best.
Fixed Rate Home Loans: Maybank's fixed-rate packages provide payment certainty, with current rates starting from 1.55% for 2-year terms on private properties.[1] Fixed rates are ideal if you prefer predictable monthly payments and want protection against future rate increases. The bank also offers 1+1 year fixed packages for those seeking flexibility after the initial period.[1]
Floating Rate Home Loans: For borrowers comfortable with rate variability, Maybank offers SORA-pegged packages with competitive spreads starting from +0.40% on 3-month SORA.[1] The bank also provides SRFR2 (Maybank's board rate) options, which are validated by the Monetary Authority of Singapore but remain entirely determined by Maybank and can change at any point.[3]
The chart below shows recent SORA trends to help you understand how floating rates have moved in Singapore:
Financing Capacity: Maybank allows borrowing up to 75% of the property value for both HDB and private properties, providing substantial financing flexibility for qualified borrowers.[2]
Maybank's Competitive Advantages
Competitive Interest Rates: Maybank consistently offers among Singapore's lowest fixed rates. As of December 2025, Maybank's 2-year fixed rate of 1.65% ranks among the most competitive in the market, with only promotional offers from some banks matching or slightly beating this rate.[1] For floating-rate borrowers, Maybank's 3-month SORA spread of +0.40% is among the tightest available, meaning lower overall interest costs.[1]
Shortest Lock-in Period for SORA Packages: Maybank offers a 1-year lock-in period for 3-month SORA packages, the shortest available in the market.[1] This flexibility allows you to switch to different rate packages quickly if interest rates continue rising, potentially reducing your long-term interest expenses.[1]
Cash Rebates and Incentives: Maybank provides cash rebates when refinancing existing home loans to their platform, offering tangible financial benefits beyond just competitive rates.[2] The bank also offers cash gifts up to S$2,500 for new home loan sign-ups and exclusive renovation loan packages for qualifying borrowers.[3][8]
Islamic Banking Options: If you require Shariah-compliant financing, Maybank's Islamic home loan products provide a unique advantage, as the bank pioneered this offering in Singapore.[3]
Comprehensive Loan Solutions: Beyond basic mortgages, Maybank provides renovation loan packages specifically designed for home loan sign-ups, helping you finance property improvements alongside your purchase.[2]
Who Should Choose Maybank Home Loan?
First-time Homebuyers Seeking Simplicity: If you're purchasing your first property and prefer working with an established, large bank with extensive resources, Maybank's comprehensive guidance through the application process makes them an excellent choice.[2] Their home loan solutions team can recommend packages suited to your specific needs, reducing decision paralysis.
Borrowers Prioritizing Rate Certainty: If you want predictable monthly payments and prefer not to worry about interest rate fluctuations, Maybank's competitive fixed-rate packages starting from 1.55% for 2-year terms provide excellent value.[1] Fixed rates protect you if the Reserve Bank raises rates in the coming years.
Floating Rate Borrowers Wanting Flexibility: If you believe interest rates will fall or stabilize, Maybank's SORA-pegged packages with the shortest 1-year lock-in period offer the best flexibility to switch rates as market conditions change.[1] This is particularly valuable in uncertain rate environments.
Refinancing Customers Looking for Incentives: If you currently hold a mortgage with another bank, Maybank's cash rebate programs for refinancing make them an attractive option to consolidate your loan and potentially save on interest costs.[2]
Islamic Finance Seekers: If you require Shariah-compliant financing, Maybank's pioneering Islamic home loan products are specifically designed for your needs, with rates and terms comparable to their conventional offerings.[3]
HDB and EC Buyers: Maybank offers home loan solutions for both HDB flats and Executive Condominiums with the same 75% financing capacity, making them suitable for upgraders moving from HDB to private property.[2][3]
Potential Drawbacks to Consider
SRFR2 Rate Uncertainty: While Maybank's SRFR2 (board rate) packages are MAS-validated, the rate is entirely determined by Maybank and can change at any point, creating potential uncertainty compared to SORA-pegged packages tied to external benchmarks.[3]
Higher Spreads on Some Packages: While Maybank's 3-month SORA spread of +0.40% is competitive, Standard Chartered offers equally tight spreads with additional relationship benefits and no lock-in period requirements.[1]
Limited Differentiation on Fees: Maybank charges standard fees comparable to other banks (legal fees, valuation fees, stamp duties), with no significant advantages in this area compared to competitors.[3]
Maybank vs. Other Major Banks: Quick Comparison
To help you make an informed decision, here's how Maybank compares to other major Singapore lenders on key metrics:
| Bank | 2-Yr Fixed Rate | 3M SORA Spread | Lock-in Period | Max LTV |
|---|---|---|---|---|
| Maybank | 1.65% | +0.40% | 1 year | 75% |
| Standard Chartered | 1.68% | +0.50% | None |
