Latest Home Loan Rates

Home Loan Rates (HDB)

Compare the latest home loan rates across fixed and floating packages from all major Singapore banks.

Lowest Rates for HDB

Updated at: 29/08/2026

Rates shown reflect the lowest available options for both new property purchases and refinancing.

Bank	Rate Type	Year 1 Rate	Year 2 Rate	Lock-in Period	Savings vs HDB rate
IQrate Promo 1 HOT 🔥	FR	1.35%	1.35%	2 Years	$6,250/year
RHB	Fixed	1.40%	1.60%	2 Years	$6,000/year
IQrate Promo 2	3M SORA	1.41%	1.41%	2 Years	$5,950/year
IQrate Promo 1	3M SORA	1.41%	1.44%	2 Years	$5,950/year
IQrate Promo 1	FR	1.45%	1.45%	2 Years	$5,750/year

Estimated yearly savings use a $500,000 reference loan and compare each package’s Year 1 rate with the 2.60% p.a. HDB concessionary rate. Savings are indicative, use a simple annual interest comparison, and are shown as $0 when the bank rate is 2.60% or higher.

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Frequently Asked Questions

Everything You Need to Know

What is a fixed rate?

Fixed Rate refers to an interest rate that remains constant for a specific period, typically ranging from 1 to 30 years. This means the borrower’s monthly mortgage payments stay the same throughout the fixed term, regardless of market interest rate fluctuations. It offers borrowers predictability and stability in managing their finances. However, if market rates fall, borrowers will not benefit from the lower rates during the fixed-rate period.

What is a floating (SORA) rate?

SORA (Singapore Overnight Rate Average) represents the average interest rate at which banks in Singapore lend and borrow funds from one another on an overnight basis. It is calculated based on the volume-weighted average of all actual borrowing transactions conducted between 8:00 am and 6:15 pm in the interbank market.

What is mortgage refinancing?

Refinancing means switching your existing home loan to a new package, either with the same bank or a different bank, usually to enjoy lower interest rates or better terms. By refinancing, homeowners can reduce monthly repayments and save on overall loan costs.

What is a Lock-in Period?

A Lock-in Period is the minimum time you must stay with your current home loan package before refinancing or fully repaying it. Typically lasting 2 to 5 years, it ensures the bank recovers its administrative and promotional costs. If you choose to refinance early, a penalty of about 1.5% of the outstanding loan amount may apply.

Tip: If you’re planning to sell your property during this period, do let our Mortgage Broker know! We can help you find a home loan package that offers a full 100% penalty waiver upon sale of your property.

How early should I secure a refinance offer before my lock-in period ends?

It’s best to secure a refinancing offer 3 months before your lock-in ends, since banks take time to process applications and disburse funds. This ensures your new loan kicks in right after your old package’s lock-in period finishes.

Can I use my CPF savings to pay off my home loan early, either partially or in full?

Yes. Firstly, ensure that you are not within any lock-in period or that your loan package allows for partial redemption during the lock-in period. You can use your CPF (Central Provident Fund) Ordinary Account (OA) savings to repay your home loan in part or in full before maturity. The steps differ depending on whether your loan is with HDB or a bank.

For HDB loans:

Ensure you have sufficient funds in your CPF OA and check your maximum CPF usage limit.
Apply online via the HDB website or submit a CPF withdrawal form at any HDB branch.
Processing usually takes about three working days for online submissions and three to five working days for branch submissions.

For bank loans:

First, obtain approval from your bank.
Confirm you have enough CPF OA savings and review your usage limits through the Homeownership dashboard.
Submit your application online using Singpass. If you intend to fully redeem your loan, attach the bank’s redemption statement and your lawyer’s legal bill (if applicable).
Processing typically takes around five working days.

What is an In-Principle Approval (IPA), and why is it important?

An IPA is a bank’s conditional approval of your home loan, based on your income, credit profile, and debt obligations. It gives you clarity on your borrowing power.

Are there penalties if I refinance or redeem my home loan early?

Yes. Most banks charge penalties typically 1.5% of the outstanding loan amount, if you redeem or refinance during the lock-in period. Always check your loan terms before switching.

How do I know if mortgage refinancing will save me money?

You should compare your current loan package with available rates and factor in costs such as legal fees or penalties. IQrate helps you run these comparisons easily so you can see whether refinancing leads to real savings.

What fees should I expect when refinancing my property loan?

When refinancing your home loan, there are several costs to keep in mind:

Legal fees – These cover the lawyer’s work in preparing, handling the loan transfer, and updating the property title. The fee is usually calculated based on your loan amount, so higher loan amounts will result in higher legal fees. Depending on the bank and law firm, fees typically range from $1,500 to $2,000.
Valuation fees – Banks often require a current valuation of your property to determine its market value before approving the refinance. This fee typically starts from $150 , depending on the property type, value of the property and the bank.
Fire insurance / Home insurance – Some banks require that you maintain or purchase fire insurance (or home insurance) for the property as a condition for refinancing. The cost depends on the property size and coverage.
Early redemption / penalty fees – If you’re refinancing during your existing loan’s lock-in period, the bank may charge a penalty, often 1.5% of your outstanding loan.

Many banks offer subsidies or rebates on some of these fees to encourage refinancing. IQrate’s platform helps you compare packages, factoring in these costs so you can see the true savings after refinancing.

How much can I borrow on a mortgage in Singapore?

Bank Loan

You can borrow up to 75% of the property’s value or purchase price (whichever is lower) for a bank loan, with 5% payable in cash and the remaining 20% payable in cash or your CPF OA savings.

HDB Loan

You can borrow up to 75% of the purchase price for new flats. For resale flats, it is 75% of the resale price or market valuation (whichever is lower), at least 25% of the purchase price, which can be paid in full using your CPF Ordinary Account (OA), with cash, or a combination of both.

How can IQrate help me compare and secure the best mortgage loan across banks?

IQrate partners with all 16 major banks in Singapore, allowing us to present you with the most competitive rates and tailor-made options based on your financial profile, including income, existing debts, and property type.

Our Mortgage Broker will also guide you through documentation, liaise with banks during the approval process, and highlight potential savings, ensuring you secure the most suitable mortgage package efficiently.

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We compare home loan packages across all banks in Singapore to ensure you get the best possible deal, saving you time, money, and stress.

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Our service is free for you! We’re paid a standard referral fee by banks so our advice stays independent and focused on getting you the best deal.

What our users say ⭐⭐⭐⭐⭐

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