Quick answer: DBS and UOB win for digital ease and first-time buyers, OCBC and Citibank tie your mortgage to wealth planning, Maybank has Shariah-compliant financing, Standard Chartered works for cross-border lives, and Hong Leong Finance is the old-school pick if you want a loan shaped around you. Rates start at 2.00% fixed, with SORA-pegged packages from 2.179%. Every provider here gives legal subsidies or cash rebates for the right loan size.
For the full picture, Best Loans & Financing in Singapore collects 12 guides on this subject.
How to choose a home loan that actually fits your life
A home loan isn’t just a rate – it’s a commitment that sits on your mind every month. The right one should feel like a steady partner, not a monthly worry. Here’s what matters when you put a few options side by side.
- Fixed or floating? Fixed rates lock in certainty – you know exactly what you’re paying. Floating rates (usually pegged to SORA) move with the market. If you sleep better with a set number, go fixed. If you can ride small changes and want a lower initial rate, floating might be your thing.
- Lock-in and exit penalties. Most packages have a two-year lock-in. Ask what happens if you sell or refinance early – some banks waive the penalty if you stay with them.
- Hidden help. Legal subsidies and free conversions after lock-in are standard among these seven, but always confirm. A $2,000 subsidy doesn’t sound like much until you see the bill.
- Loan size matters. Borrowing above $500,000 or $1 million often unlocks better rates and dedicated advice. Don’t be shy – ask what tier you fall into.
- Digital or human? DBS and UOB let you handle almost everything online. Hong Leong and Maybank still lean on face-to-face chats. Neither is wrong; it’s about what calms your nerves.
A fair fixed rate today starts around 2.00%. Anything much lower usually comes with fine print, so ask about the effective rate after the first year.
DBS Bank
DBS runs its home loan operations from branches all over Singapore, and their main office sits at Ang Mo Kio Ave 6. They’ve built a name as the bank that gets approvals done before your kopi cools down – fixed-rate packages start from 2.00%, and for loans above S$1 million they’ll sharpen the rate just for you. You get cash rebates, legal subsidies, and SORA-linked floating alternatives if you prefer that path.
What I like: the whole process feels like it was designed by someone who hates waiting. Their digital tools give you an answer in minutes, not days, and they’ve been named Safest Bank in Asia 15 years in a row – that kind of stability matters when you’re signing on for decades. If you’re the type who wants to sort your loan from your phone while queuing for chicken rice, this is steady.
Address: 712A Ang Mo Kio Ave 6, #01-4066, Singapore 561712
Phone: 1800 111 1111 (home loans team available during business hours)
Hours: Phone banking 24/7; branch hours at dbs.com.sg/locator
Website: DBS Home Loans
OCBC Bank
OCBC’s branches are dotted across the island, so you’re never far from a counter. Their home loans come with SORA-pegged floating rates from 2.179% and fixed rates up to 2.300%, with free conversions after the lock-in and legal subsidies that take the sting out of the paperwork. For high-value loans, they fold your mortgage into your wider wealth plan – your banker looks at your investments, your insurance, and your home loan as one picture, not three separate headaches.
That holistic angle is what makes them worth the trip, especially if you’ve already got a bit of wealth built up and you don’t want to keep repeating your life story to different departments. Their advisory team has won awards for mortgage service, and it shows in how they handle the conversation.
Address: Use the branch locator on the website to find your nearest OCBC
Phone: +65 6538 1111 (Business Banking; home loans team available)
Hours: Phone services 24/7; branch hours at ocbc.com/locations
Website: OCBC Home Loans
None of these are sponsored placements. If you belong on this list, tell us what you do.
UOB Bank
UOB has branches across Singapore, and they’ve been a familiar name for so long your parents probably had an account there. Their home loan rates start from 2.000% for both fixed and floating, and the premium packages for loans above S$500,000 come with extra flexibility – like waivers if you need to sell during your lock-in, which is not something every bank will do.
The UOB advisory team is known for being thorough, so even if you’re new to all the mortgage jargon, you walk out feeling like you know what you signed. For anyone buying in a prime district where the numbers are big and the commitment feels bigger, that kind of hand-holding is priceless.
Address: Use the branch locator on the website to find your nearest UOB
Phone: 1800 222 2121
Hours: Phone 24/7; branch hours at uob.com.sg/locator
Website: UOB Home Loans
By the way, if you’re also sorting out wheels for the new place, we looked at Car Loan Providers in Singapore for that side of things.
Standard Chartered Bank
Standard Chartered operates out of Marina Bay Financial Centre, and their home loans carry a global accent. Fixed rates from 2.000%, SORA floating around 2.179%, legal subsidies, free conversions – all the usual comforts. But the real reason to pick them is their cross-border support; if you’ve got property interests overseas or you’re moving between countries, they can link your Singapore mortgage to your global finances without making you jump through a dozen hoops.
They’ve been named best international bank for mortgages, which tells you they’re not just playing local. For anyone with a foot in another country, that connection can be a quiet relief when tax season rolls around.
Address: Marina Bay Financial Centre, Tower 1, 8 Marina Blvd, #01-01, Singapore 018981
Phone: +65 6747 7000
Hours: Phone full services 8am–8pm, urgent 24/7; branch hours online
Website: Standard Chartered Home Loans
Citibank
Citibank’s home loan team sits in Asia Square Tower 1. Their packages start with fixed rates from 2.000% and SORA-linked floating, legal subsidies, flexible terms – the kind of thing you’d expect from a bank that works with a lot of high-net-worth clients. For loans above S$1 million, they pull your mortgage into your broader wealth management, so it becomes part of a strategy rather than a standalone bill.
Their advisory service has a reputation for being sharp and personal. If you’re managing a sizeable asset base and you want someone who speaks your language – literally and financially – Citibank makes a good partner.
Address: Asia Square Tower 1, 8 Marina View, #21-00, Singapore 018960
Phone: +65 6224 5757
Hours: Mon–Fri 9:30am–5:00pm; online services 24/7
Website: Citibank Home Loans
Maybank
Maybank’s tower on Battery Road has been a city skyline regular for ages. SORA rates from 2.179%, fixed options, cash rebates for larger loans, and they skip the valuation fee when you refinance – a small gesture that saves you a few hundred dollars. The quiet difference is their Shariah-compliant home financing; if you need a loan that aligns with Islamic principles, Maybank is the only one on this list that offers it seamlessly.
Their personal service feels a bit more old-school in the best way, and they’re comfortable with premium properties. For the buyer who wants a loan that matches their values as well as their budget, Maybank is a natural fit.
Address: 2 Battery Road, Maybank Tower, Singapore 049907
Phone: 1800 629 2265
Hours: Contact centre: full services 8am–8pm, emergency 8pm–8am; branch hours at maybank2u.com.sg/locator
Website: Maybank Home Loans
For a deeper look at fixed-rate options across different banks, our guide on Fixed Rate Home Loans in Singapore breaks things down further.
Hong Leong Finance
Hong Leong Finance is Singapore’s largest finance company, and their main branch sits at Raffles Quay. They’re not a bank, and that shows in how they talk to you – loans above S$300,000 get personalised terms, and they’ll sit down with you rather than push you through a form. Fixed packages start from 2.000%, board rates at 2.600%, and they hand out cash rebates over S$2,000 for qualifying loans.
They’ve been named ASEAN Finance Company of the Year, and their SME roots mean they’re used to shaping loans around real needs, not just templates. For anyone who likes a face-to-face chat and a loan that feels made for them, Hong Leong is worth a visit.
Address: 16 Raffles Quay, #01-05, Hong Leong Building, Singapore 048581 (Main Branch; other branches here)
Phone: 6579 6777 (Customer Service), 6415 9118 (Main Branch)
Hours: Mon–Fri 9am–4:30pm, Sat 9am–12noon, closed Sun & public holidays
Website: Hong Leong Finance
None of these are sponsored placements. If you belong on this list, tell us what you do.
Comparison at a glance
| Provider | Rate Signal | Key Perk | Best For |
|---|---|---|---|
| DBS Bank | Fixed from 2.00%, SORA floating | Digital tools, instant approvals, cash rebates | Borrowers above $1M who want digital ease |
| OCBC Bank | SORA from 2.179%, fixed up to 2.300% | Wealth management integration, legal subsidies | Homeowners seeking holistic financial planning |
| UOB Bank | From 2.000% | Waivers for sale during lock-in, premium packages | Prime district buyers wanting flexibility |
| Standard Chartered | Fixed from 2.000%, SORA ~2.179% | Cross-border support, legal subsidies | Globally mobile individuals |
| Citibank | Fixed from 2.000%, SORA floating | Wealth management for loans above $1M | High-net-worth portfolio investors |
| Maybank | SORA from 2.179%, fixed options | Shariah-compliant, no valuation fee for refinance | Buyers needing diverse financing structures |
| Hong Leong Finance | Board 2.600%, fixed from 2.000% | Personalised terms above $300k, cash rebates | Borrowers who prefer old-school service |
When you’re ready to talk to someone who can walk you through the fine print, our list of Mortgage Loan Specialists in Singapore is a good next step.
Summary
The right home loan sits quietly in your life, doing its job without giving you a monthly headache. DBS makes the process quick, OCBC ties it to your whole financial picture, Maybank opens a door for Shariah-compliant financing, and Hong Leong treats you like a person rather than a file. Whatever you pick, start with a few conversations – you owe it to yourself to find a loan you won’t second-guess.
Disclaimer: All details were accurate at the time of writing. Rates, rebates and terms can shift without notice, so always confirm directly with the bank or finance company before you commit.
Frequently asked questions
What is the typical interest rate for home loans in Singapore right now?
Fixed rates among these seven providers start from around 2.00% per annum. SORA-pegged floating rates usually begin at about 2.179%. The exact rate depends on your loan amount and whether you’re buying an HDB or private property.
Which bank is best for a first-home buyer?
DBS and UOB are popular because their digital applications make everything feel less daunting. DBS gives instant approvals, UOB offers waivers if your plans change, and both throw in cash rebates that ease the early costs.
Can I switch my existing home loan to one of these providers?
Yes, all of them offer refinancing. Many cover your legal fees and let you convert to a different rate package once the lock-in ends. Hong Leong even waives the valuation fee when you refinance, which saves a bit upfront.
What is SORA and why does it matter for my loan?
SORA is the Singapore Overnight Rate Average, the transparent benchmark most floating rate home loans are now pegged to. Unlike older board rates that banks adjusted quietly, SORA moves with the market, so you can see where your instalment might go.
Does anyone offer a home loan that follows Islamic finance principles?
Maybank provides Shariah-compliant home financing. It avoids interest and works on a profit-sharing model, giving you a way to buy a home that aligns with Islamic finance requirements.
How much of a cash rebate or legal subsidy can I expect?
It varies. Standard Chartered and OCBC mention legal subsidies for private properties. Hong Leong gives cash rebates over S$2,000 for qualifying loans. Ask the lender directly – the figure depends on your loan size and property type.
