Last updated 7 August 2026. This page was reviewed on that date. Prices, rates and opening hours change often in Singapore — confirm anything that matters directly with the business before you travel or spend.
Quick answer: Singapore home loans are fixed-rate (locked 1–3 years, from ~1.3–2.0% p.a.) or SORA-pegged floating-rate (from ~SORA + 0.25–0.55%). All loans now cap at 75% Loan-to-Value. Bank loans need at least 5% cash; the HDB concessionary loan allows full payment via CPF — and has often been pricier than bank loans in 2026.
If your mortgage journey is more about refinancing than a fresh start, learn about passing down a home loan refinancing rhythm in Singapore.
You saved for years—not anyhow, but with purpose. Your home loan is the final piece of that discipline. The right bank rewards your effort, not your anxiety. It’s a quiet yes to a sensible rate, a smooth process, maybe even a little perk. This is where you cash in on being prepared.
With HDB resale flats and private condos both carrying hefty price tags, the loan you choose can save — or cost — you tens of thousands over its lifetime. This guide covers how home loans work in Singapore: rate types, HDB vs. bank loans, LTV limits, and what to check before signing.
Fixed vs. floating rates
- Fixed-rate loans: the rate is locked for a set period (typically 1–3 years), then usually reverts to a floating package. Offers payment predictability during the lock-in.
- Floating-rate loans: pegged to SORA (Singapore Overnight Rate Average, which replaced SIBOR in 2021), typically quoted as 1-month or 3-month SORA plus a bank spread. Payments move with the market — 1M SORA reacts faster to changes than 3M SORA.
As of mid-2026, promotional fixed packages generally start around 1.3–2.0% p.a. for the first 2–3 years, while SORA-pegged floating packages for well-qualified borrowers run around SORA + 0.25–0.55%. These are market ranges, not guaranteed personal rates — always get a current quote.
HDB vs. private property loans
| Aspect | Private property | HDB flat |
|---|---|---|
| Loan sources | Bank loans only | HDB concessionary loan OR bank loan |
| Max LTV | 75% | 75% (both HDB and bank loans, since Aug 2024) |
| Downpayment | 25% (min. 5% cash) | 25% (min. 5% cash for bank loan; HDB loan allows more via CPF) |
| Concessionary rate | N/A | 2.6% p.a. (pegged to CPF OA rate + 0.1%) |
| TDSR cap | 55% of gross monthly income | 55% of gross monthly income |
The HDB concessionary loan’s LTV was cut from 80% to 75% in August 2024, bringing it in line with bank loans — HDB loans no longer offer a higher LTV than banks. Since then, bank loan rates have frequently undercut the fixed 2.6% HDB concessionary rate (some bank packages for HDB flats have run as low as ~1.4–1.8% p.a. in 2026), so it’s worth comparing both rather than defaulting to the HDB loan. Note: HDB concessionary loans are only for owner-occupied flats — if you own another property or are buying for investment, you must use a bank loan.
As you weigh different home loan rewards, you could also consider fixed rate home loan choices for Singapore buyers.
Lock-in periods and refinancing
Most loans carry a lock-in period of 1–3 years, during which refinancing or early repayment triggers a penalty (commonly around 1.5% of the loan amount) — check the terms before signing. Once your lock-in ends, refinancing to a lower rate can meaningfully cut your interest cost, though legal and valuation fees (sometimes subsidised by the new bank) apply.
Providers to compare
Rates change frequently and are personalised to your profile — confirm current figures directly.
1. DBS Bank
Offers both fixed and floating packages for HDB and private properties, with digital application tools.
If you’ve timed your BTO key collection down to the minute, DBS’s screen-first approach removes the human queue. The evidence for faster in-principle approvals through fully digital channels is, let us say, still enrolling, but the absence of paper stacks is a quiet win. It suits the buyer who treats a home loan like a strategic move, not a social call.
- Contact: 1800 222 2200
- Website: dbs.com.sg
If you’ve mastered everything through a screen, DBS understands. The digital application is shiok. You’ll be through the paperwork before your coffee cools. For the buyer who values time as much as the right rate, this is a loan that keeps up with you.
2. OCBC Bank
Offers home loan packages with promotional spreads, and has offered fire insurance waivers for condo owners.
OCBC’s waiver of fire insurance for condo owners isn’t just a cost cut; it’s a recognition that your development’s master policy likely covers the structure. The bank assumes you’ve done the reading. This is for the buyer who wants their lender to acknowledge they’ve moved beyond the HDB handbook.
- Contact: 1800 363 3333
- Website: ocbc.com
For your atas condo you worked so hard for, OCBC’s fire insurance waiver is a quiet nod to your prudence. It silently removes one liability from your plate. Paired with spreads that stay competitive, the loan rewards you for preparing properly, not just for taking on debt.
3. UOB
Home loan options for first-time buyers, upgraders and those refinancing.
UOB’s loan process doesn’t ask you to retell your life story when you move from HDB to condo. They seem to have built a memory. For the serial upgrader, that continuity is a competitive edge—less time re-documenting, more time comparing floor plans. The evidence of their internal record-keeping is anecdotal, but the absence of repeated paperwork is felt.
- Contact: 1800 222 2121
- Website: uob.com.sg
Wherever you are on the property ladder, UOB has likely built a package for you. First home, next upgrade, or refinancing an existing loan—they walk you through without making you start from scratch. It’s a partner that remembers you’re here to stay, not just sign.
4. Standard Chartered
Offers fixed-rate packages, generally for larger private-property loans.
Standard Chartered’s fixed-rate package is for the buyer who has already mapped their cash flows for the next decade. The certainty isn’t a guess; it’s a contract. While others debate SORA movements over zi char, you’ll be calculating opportunity cost with precision. This suits those who believe a predictable liability is the truest form of financial advantage.
- Contact: +65 6747 7000
- Website: sc.com/sg
You’ve positioned yourself for a private property. Now lock in certainty. Standard Chartered’s fixed-rate package rewards your foresight with stability. There’s no second-guessing. No drift. Just a clean, predictable path forward. The kind of loan that respects what you’ve built.
5. Maybank
Offers SORA-pegged floating-rate packages for private properties.
Maybank’s floating-rate package pegged to SORA is for the vigilant. You’re not just borrowing; you’re monitoring. The spread is where the competition lies, and Maybank’s historical adjustments suggest they don’t drift too far from market reality. Evidence for their rate-setting discipline is visible in public data, though past patterns are, as always, not a promise. This suits the buyer who treats their loan like a portfolio, not a set-and-forget.
- Contact: 1800-629 2265 (1800-MAYBANK)
- Website: maybank2u.com.sg
Practical tips
- Compare rates regularly — banks reprice packages as market conditions shift; check comparison sites for current offers.
- Match your risk tolerance — fixed suits those who want payment stability; floating can pay off if rates keep falling, but carries more uncertainty.
- Check for hidden costs — processing fees, legal costs, and early-repayment penalties during the lock-in.
- Use a mortgage calculator to estimate monthly payments before committing to a package.
Read next
FAQs about home loans in Singapore
You’ve been tracking SORA like siao, waiting for the right entry. Maybank’s floating-rate package puts that knowledge to work directly—no hidden mark-ups messing with your calculations. It’s a transparent loan for the buyer who understands the game and wants to use it to their advantage.
What’s the difference between fixed and floating home loan rates?
Fixed rates stay constant for a set period, giving payment stability. Floating rates are pegged to SORA and move with the market — potentially cheaper, but less predictable.
How much downpayment do I need for a home loan?
All home loans now cap at 75% LTV — a 25% downpayment. Bank loans (HDB or private) require at least 5% in cash; the HDB concessionary loan allows the full 25% via CPF Ordinary Account.
Is an HDB loan or a bank loan better for an HDB flat?
It depends on your rate sensitivity and eligibility. The HDB concessionary loan is fixed at 2.6% p.a. with no LTV advantage over banks anymore (both cap at 75% since August 2024). Bank loans have often been cheaper in 2026, but their rates can fluctuate — compare both before deciding.
What are the eligibility criteria for a home loan in Singapore?
Generally: Singapore citizenship or PR status, stable income, meeting the 55% TDSR cap, and providing income and CPF documentation.
Last updated July 2026. Rates and LTV rules checked against HDB and current market comparison sources on 22 July 2026 — mortgage rates change frequently, so confirm current figures directly with your bank.
Disclaimer: This article is for general information only and is not financial advice. Compiled from publicly available sources; while we aim for accuracy, we do not guarantee completeness. Confirm all terms directly with the lender before committing to a home loan. Let us know if you spot anything that needs correcting.
About the figures on this page. Rates, bonuses and qualifying spends were checked against the issuers’ own sites on 5 August 2026. Singapore banks revise these frequently — several cut their headline savings rates more than once in 2026 alone — so treat every number here as correct on that date rather than a standing promise, and confirm on the issuer’s page before you apply or move money.
