Securing an optimal home loan is no longer just about the lowest number; it’s about timing the market. With SORA rates currently bottoming out near 1.2%, 2026 is a watershed year for refinancing and new purchases.
Use Redbrick’s tool to compare over 100 home loan packages across 16 banks.
Jump links: Best Rates Today • Find Your Match • Best Mortgage Loans • Buyer Type Paths • Eligibility • HDB vs Bank • Application Process • SORA Guide • Refinancing • FAQs • Glossary
What are today’s best home loan rates?
Use our comparison tool to find the best real-time rates from our 16 partner banks.
Snapshot as of [March 2026]. Assumes a $100,000 loan with a 30-year tenor. Rates shown are headline package rates and can change daily.
What you can do with Redbrick’s loans comparison tool:
- More details: Special features of each Bank’s loans, and up to 6 years interest rates and monthly payments
- Compare rates by Bank
- Select Rate Types – Fixed, 1M SORA, 3M SORA, Board
- Sort from lowest to highest Interest rates
- Sort from lowest to highest Month Instalments
A mortgage isn’t just about today’s lowest rate; it should support what you’ve planned for your property and your longer-term goals.
For instance, if you intend to sell in the near future, having features like a waiver of penalty upon sale can make a meaningful difference. If you have spare cash and are unsure where to deploy it, an interest offset account may help you reduce interest costs while maintaining liquidity. It’s also important to consider your risk appetite — would you prefer a free conversion feature as a cushion in case interest rates fluctuate?
How can I find the right housing loan match?
That’s why we always encourage speaking with a professional and independent advisor at Redbrick Mortgage Advisory — we look beyond headline rates to structure your loan properly, so it optimises both your property plans and your overall financial portfolio for the future.
You can look through the most suitable package by answering several key questions. Our tool simplifies this by analyzing your profile against the latest bank offers.
Summary of the Best Mortgage Loans Across Categories
This regularly updated table helps you compare the best loans for HDB, Private Properties, and BUC, across the two main types of interest rates.
| Fixed rates | Floating rates (SORA, Board, FD) | |||
| Best loan for: | Rates | Banks | Rates | Banks |
| HDB | 1.400%-3.300% | SCB, DBS, OCBC | 1.141%-2.600% | DBS, OCBC, SCB |
| Private Properties | 1.123%-2.600% | SCB, OCBC, DBS | 1.123%-2.380% | SCB, OCBC, DBS |
| Buildings Under Construction | 1.850%-3.500% | HLF | 1.356%-2.380% | OCBC, SCB, RHB |
| Enquire | Enquire | Enquire | Enquire | |
How to use this table:
- Identify your “Best loan for” category: Are you a first-timer, refinancing, or buying a house still under construction?
- Choose your “Certainty Level”: Do you want a rate that stays the same (Fixed) or one that drops if the market does (Floating)?
- Compare the Banks: We’ve listed the banks currently offering the “sharpest” pricing for each category.
💡 Redbrick’s Insider View (March 2026)
Banks change their lending appetite weekly. Currently, we’re seeing DBS offer the most competitive cash rebates for HDB owners looking to exit the 2.6% rate. Meanwhile, Standard Chartered Bank has the current ‘sharpest’ spread for private property floating loans.
Not sure where you fit?
Our advisors monitor these shifts daily to ensure you don’t just get the best rate, but the most competitive and personalised package.
Why trust Redbrick’s methodology?
As the largest independent mortgage advisory in Singapore, Redbrick offers unbiased advice on loan selection and application. We monitor over 100 packages to ensure our comparison tool remains accurate and relevant. This live information helps our experts handle complex loan structuring and technical credit underwriting. We evaluate unique product features to ensure your mortgage matches your long-term plans.
Disclaimer: Every effort has been made to ensure that the information provided is accurate. You must not rely on this information to make a financial or investment decision. We recommend you consult a professional advisor.
Which home loan is best for your buyer type?
The optimal mortgage loan depends on your property needs and long-term liquidity requirements. We have categorized four primary paths to help you navigate the Singapore mortgage landscape.
1. First-time HDB Buyers
- The Landscape: You must navigate the Mortgage Servicing Ratio (MSR) cap of 30% and a 75% Loan-to-Value (LTV) limit.
- Our recommendation: The HDB Concessionary Loan is the “safest” bet for those prioritizing stability, as it allows you to pay your downpayment entirely via CPF OA (Central Provident Fund Ordinary Account). However, if you have a healthy cash reserve and want to minimize interest costs, a Bank Loan can offer rates lower than 2.6%.
- Pro Tip: Start with the HDB loan. You can always refinance into a bank loan later, but you cannot switch back to HDB once you leave.
2. Private Property Buyers
- The Landscape: With no MSR (only the Total Debt Servicing Ratio or TDSR) and a 75% LTV, your focus is on capital efficiency.
- Our recommendation: Look for Fixed-Rate Packages if you are nearing your debt ceiling, as they protect you from rate hikes that could squeeze your monthly cash flow. If you plan to sell within 3–5 years, prioritize low-entry-rate floating packages to maximize your gains upon exit.
- Pro tip: If you are a Private Property Owner moving to a resale HDB, factor the 15-month wait-out period into your bridging loan strategy.
3. Refinancing (Out of Lock-in)
- The Landscape: Your goal is to reduce your monthly interest.
- Our recommendation: Refinancing is typically better than internal repricing, as banks offer “new customer” incentives to lure you away. Start comparing 6 months out. If the July 2025 SSD revisions have affected your intent to sell, opt for a “No Lock-in” floating rate to maintain maximum agility.
- Pro tip: If your current rate is >3.5%, any package offering a spread below SORA + 0.8% is likely a win.
4. BUC (Progressive Payments)
- The Landscape: You aren’t paying the full mortgage yet; you pay in stages as the building rises.
- Our recommendation: A Floating Rate (SORA-based) package is the standard and usually the best fit here. Since your principal balance starts small, the “volatility” of a floating rate has a minimal impact on your wallet in the first 12–18 months.
- Pro tip: Prioritize packages with features such as a “Free Conversion” feature. This allows you to switch to a fixed rate for free once the project hits TOP, protecting you when your full loan amount finally kicks in.
Are you eligible for home loans?
Before you start house hunting, you need to clear two regulatory hurdles set by the Monetary Authority of Singapore (MAS). These rules determine not just if you can borrow, but how much.
1. The “Monthly Limit” (Total Debt Servicing Ratio & Mortgage Servicing Ratio)
- MSR (30%): If buying an HDB or EC, your monthly mortgage cannot exceed 30% of your gross income.
- TDSR (55%): For all properties, your total monthly debt (mortgage + car loans + credit cards) cannot exceed 55% of your income.
2. The “Downpayment” (Loan-To-Value)
- 75% Limit: For your first home, you can usually borrow up to 75% of the property value.
- The Cash Gap: You must fund the remaining 25%. For bank loans, at least 5% must be in cash; the rest can be paid with CPF. For HDB loans, the full 25% can be paid with CPF.
Bottom Line: Meeting these ratios is only half the battle. Your credit rating is a vital factor that determines if a bank will actually trust you with a loan. We recommend reviewing the 4 key factors of mortgage eligibility
Read the full breakdown: 4 Key Factors That You Must Know When Assessing Your Loan Eligibility
Should you choose an HDB loan or a bank loan?
The choice boils down to a trade-off: Stability vs. Savings.
The HDB Loan (The “Safe” Choice)
- Interest Rate: Fixed at 2.6% (pegged to CPF OA rate + 0.1%).
- Best For: Buyers who want to maximize their cash flow. It allows you to pay your entire 25% downpayment using CPF, meaning zero cash upfront is possible.
The Bank Loan (The “Savings” Choice)
- Interest Rate: Historically lower than 2.6%, though subject to market fluctuations (SORA-pegged).
- Best For: Buyers looking to minimize total interest paid over 20–30 years.
- The Catch: You must pay at least 5% of the property price in cash. Banks are also much stricter with late payments and will charge “early repayment fees”.
Read the full comparison: Bank Loan Or HDB Loan – Which Is Better For You?
How do you apply for a home loan?
The mortgage application process follows a process to ensure all legal and financial due diligence is completed.
- In-Principle Approval (IPA): Obtain this first to determine your maximum borrowing capacity using MAS stress test rates.
- Option to Purchase (OTP): Execute this once you have selected a property.
- Valuation & Letter of Offer: The bank conducts a property valuation before issuing a formal offer.
- Legal & Disbursement: Conveyancing lawyers manage the documentation and eventual fund release.
Read full guide: Navigating the Mortgage Application Process
What is SORA?
SORA (Singapore Overnight Rate Average) is the primary benchmark for SGD floating rate mortgages, providing a transparent rate.
Borrowers can typically choose between 1-month (1M) and 3-month (3M) SORA periods. The 1M SORA reacts more quickly to daily market changes. The 3M SORA offers a more stabilized trend by compounding rates over a longer period. SORA is widely considered more transparent than the discontinued SIBOR or SOR benchmarks.
Note that not all floating rate packages are SORA-based. Some banks offer packages pegged to internal benchmarks — for example, DBS’s FHR6 is tied to their 6-month fixed deposit rate. These are classified as Board rates and are set at the bank’s discretion, unlike SORA which is a public market benchmark.
Read full guide: SORA Rates – What Is It And Which To Choose?
When is the right time for refinancing and repricing?
Proactive mortgage management requires reviewing your package before the expiration of your lock-in period.
What banks don’t highlight:
The most attractive rates are often reserved for new customers during the initial lock-in period.
- Year-2+ Pricing: Check the “thereafter” spread, as it can be significantly higher than Year 1.
- Clawback Clauses: If you received a legal subsidy, you may have to repay it if you refinance within 3 years.
- Conversion Limitations: Some “free conversion” offers only apply to specific internal packages that may not be competitive.
Read full guide: Should I Reprice Or Refinance My Home Loan?
What hidden fees can change the real cost of a loan?
The headline interest rate is only one component of the total cost; secondary fees can significantly impact net savings.
- Early Redemption Penalty: Typically around 1.5% of the outstanding loan if you redeem during the lock-in.
- SSD Tiers: Selling within 1, 2, 3 or 4 years incurs 16%, 12%, 8%, or 4% tax respectively.
- Partial Prepayment Penalty: Usually around 1.5% on the amount prepaid if done within the lock-in period.
- Repricing Fees: Banks may charge an administrative fee (typically $200–$800) for an internal switch.
Board rates are internally determined by the banks. Some people are distrustful of them because of a lack of transparency as to the benchmarks used. Additionally, there is no stopping the banks from raising them every now and then based on their own criteria/mood. Still, their rates can be attractive.
Frequently Asked Questions
DBS Bank (DBS), Standard Chartered Bank (SCB), Maybank (Maybank), Bank of China (BOC), State Bank of India (SBI), Hong Leong Bank (HLB), CIMB Bank (CIMB), Singapura Finance (SF), Citibank (CITI), Hongkong and Shanghai Banking Corporation (HSBC), Oversea-Chinese Banking Corporation (OCBC), RHB Bank (RHB), United Overseas Bank (UOB), Bank of Singapore (BOS), Sing Investments & Finance (SIF), Others
Fixed rates are suitable for those who prioritize budgeting certainty and wish to hedge against rising rates. SORA-pegged floating rates are often more competitive when market rates are stable or declining.
This is a cooling measure requiring Private Property Owners to wait 15 months before buying a resale HDB flat. This rule aims to moderate demand and ensure public housing remains affordable for genuine homebuyers.
No, once you have refinanced your HDB property with a bank loan, you are ineligible to return to HDB.
This is the interest rate that applies once your initial promotional or lock-in period ends. It is usually higher than the introductory rate and is the primary reason borrowers choose to refinance.
Banks may offer a legal subsidy to cover your upfront costs. However, most packages include a 3-year clawback period, requiring you to repay the subsidy if you refinance too early.
Glossary
Additional Buyer’s Stamp Duty (ABSD)
A tax payable in addition to BSD on certain residential purchases. Payable by PRs, foreigners, entities, and Singaporeans buying second and subsequent properties. Use the IRAS calculator to compute amounts.
In-Principle Approval (IPA/AIP)
A bank’s indicative approval of your borrowing limit before purchase. Not a guarantee; still subject to valuation and final underwriting.
Board rate
A floating rate set at the bank’s discretion (not pegged to a public benchmark).
Building Under Construction (BUC)
New property where the loan is disbursed progressively as the developer reaches milestones. Servicing is typically interest-only on the disbursed amount until full drawdown.
Buyer’s Stamp Duty (BSD)
A tax payable by all property buyers based on price or market value. Use the IRAS calculator to compute amounts.
CPF Ordinary Account (CPF OA)
Savings that can be used for eligible housing payments (downpayment, monthly instalments) subject to CPF and HDB/MAS rules.
Early redemption penalty
A fee (often a percentage of outstanding principal) charged for fully redeeming a loan during its lock-in period.
Fixed rate
An interest rate that stays unchanged for a lock-in period. Suits borrowers prioritising payment certainty.
Floating rate
An interest rate that varies over time, typically pegged to 1M/3M SORA or a board rate, plus a fixed spread.
Loan-to-Value (LTV)
The maximum loan as a percentage of the property value/price, subject to MAS limits and borrower profile.
Lock-in period
The period during which early redemption or certain changes incur a penalty. Plan refinancing three months before lock-in ends.
Mortgage Servicing Ratio (MSR)
For HDB/EC purchases, caps the mortgage instalment at a percentage of gross monthly income (separate from TDSR).
Option to Purchase (OTP)
A contractual right granted by the seller to buy the property within a stated period, typically upon paying an option fee.
Partial prepayment
Paying down part of the loan principal ahead of schedule. May be free or penalised during lock-in; check minimum quantum and notice period.
Payment per period (PMT)
The monthly instalment comprising principal and interest. Depends on loan amount, tenure, and interest rate.
Refinancing
Switching your home loan to another bank for better terms. May involve legal/valuation fees; watch for subsidy clawbacks.
Repricing
Moving to a different package within the same bank. Usually simpler than refinancing; may have an admin fee and fewer promotional perks.
Seller’s Stamp Duty (SSD)
A tax on selling residential property within a prescribed holding period. Check current SSD rates and holding windows.
Singapore Overnight Rate Average (SORA)
Defined as the volume-weighted average rate of borrowing transactions in the unsecured overnight interbank SGD cash market in Singapore between 8am and 6.15pm.
Total Debt Servicing Ratio (TDSR)
MAS framework capping total monthly debt obligations (including mortgage, car, credit) as a percentage of gross income.
