Quick answer: DBS and OCBC lead with competitive fixed-rate packages and strong digital platforms for HDB and private property buyers. UOB suits those wanting flexible tenures and refinancing perks, while HSBC and Citibank shine for international clients and digital-first applicants. Maybank and CIMB offer value-driven options with cash rebates, and BOC or Standard Chartered are worth a look for cross-border needs or green financing. The right pick depends on your loan amount, appetite for fixed versus floating rates, and whether you are buying, building, or refinancing.
The real cost of a housing loan is not just the rate on the page. It is the time you spend waiting for approval, the penalty you pay if your plans change, and whether the bank moves fast enough to hit your completion date. These nine options are compared on the details that determine whether a loan wastes your time or respects it.
Best Loans & Financing in Singapore holds 12 guides in this category, if you want to see what else is out there.
DBS Bank
DBS starts with sheer market muscle: it is Singapore’s largest bank by assets, and that scale means the bank can throw weight behind its housing loan features without passing the cost on to you. If you are buying an under-construction condo and the thought of paying interest on money you have not drawn down yet makes you sian, their waiver of penalties on unreleased BUC loan amounts is a genuine relief – you only pay when the cash actually leaves the bank.
Their loan menu covers fixed-rate packages up to five years, which is rare and useful for anyone who wants to sleep soundly through rate cycles. Floating-rate options pegged to 3M SORA or FHR6 are there for borrowers who prefer to ride the market, and these start to make sense when your loan crosses $600,000. Another practical touch: free switches after disbursement. You are not locked into a decision you made two years ago if the landscape shifts.
The digital experience is where DBS really clicks. The online mortgage platform talks to your DBS accounts already, so uploading documents and tracking approval feels less like a chore and more like checking a parcel tracking number. If you already bank with them, the loan fits into your wealth management dashboard without extra logins – useful when you are watching property value, investments and liability all in one place.
interest on what you actually use, which keeps upfront costs predictable during the waiting period. The digital application process is structured to move fast, suiting buyers who want to lock in terms without multiple branch visits. Time-box your session well and you can wrap the paperwork inside a single lunch break.
Address: DBS Bank Ltd, 12 Marina Boulevard, Marina Bay Financial Centre Tower 3, Singapore 018982
Phone: 6333 0033 / +65 6333 0033 (from overseas)
Hours: Mon–Fri 9:00 AM–5:30 PM, Sat 9:00 AM–12:30 PM (excluding public holidays)
Website: DBS Bank
This is a steady pick if you already have a DBS account, are buying a private property or resale HDB, and value a bank that lets you manage everything on your phone without calling a hotline. The long fixed-rate window makes it especially suitable if you are the kind who likes to lock things down and forget about them.
OCBC Bank
OCBC sits at Chulia Street and across branches islandwide with a housing loan desk that feels less industrial and more consultative. The bank pushes transparency hard – what you see on the indicative rate sheet is close to what lands in your letter of offer – and that matters when you are committing to a mortgage that will run longer than your children’s primary school journey.
They offer 2-year fixed rates and floating packages tied to 1-month or 3-month SORA. The sweetener is a cash reward that can reach $3,300 for loans above $300,000, which is not life-changing but can square away your legal fees and a valuation report with change left over. Discounted legal fees sweeten the onboarding for resale private properties and HDB refinancing. If you are buying a place with an eye on sustainability, ask about the Eco-Care Home Loan – it rewards you for picking energy-efficient properties, which is a nice nudge if you were leaning that way anyway.
For buyers who value a consultative approach and clear rate sheets that match the eventual offer. The mortgage team takes time to walk through numbers without pressure, which suits first-timers who want to understand every line before committing to a decades-long repayment.
Address: OCBC Centre, 65 Chulia Street, Singapore 049513 (Main Branch)
Phone: +65 6363 3333
Email: [email protected]
Hours: Mon–Fri 9:00 AM–4:30 PM, Sat 9:00 AM–11:30 AM
Website: OCBC Bank
Good fit for the practical buyer who wants clear terms, a modest cash offset upfront, and a banker who will sit down and explain why a 1M SORA package behaves differently from a 3M one instead of just reading off a brochure.
This is an editorial round-up, not a paid directory. Think we have missed somewhere? Tell us what you do and why it belongs here.
UOB Bank
UOB operates from Raffles Place with a mortgage arm that understands Singapore property cycles in their bones – they have been doing this for decades. Their loans stretch tenures up to 35 years, which takes the monthly bite down to something more manageable for executive condominiums or a landed property in a prime district where the quantum is serious.
Fixed-rate packages cover 2 to 3 years, and their SORA-linked floating loans are priced with competitive spreads. Where UOB earns its keep is on refinancing: they tout zero upfront fees, which means the legal and valuation costs that usually make you hesitate about switching are absorbed. That is the kind of thing that turns a “maybe next year” refinancing conversation into a “let’s just do it now” one.
A practical choice if you need to stretch monthly repayments across a longer tenure, especially for higher-quantum properties. The 35-year term brings the monthly figure down to a level that keeps other financial goals on track without over-leveraging your household budget.
Address: UOB Plaza, 80 Raffles Place, Singapore 048624
Phone: 1800 388 2121
Email: [email protected]
Hours: Mon–Fri 9:30 AM–4:30 PM, Sat 9:30 AM–12:30 PM, Sun closed
Website: UOB Bank
Suits a homebuyer who already thinks about property as part of a wider wealth picture, especially if you hold other UOB products and want your mortgage to tie into a relationship manager’s view of your portfolio. The zero-fee refinance makes it worth a look even if you are not buying new.
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HSBC Bank
HSBC brings a global banking licence and an expat-friendly operation to their home loans desk at Singapore Land Tower. Their 2-year fixed and 3M SORA floating packages are straightforward, but the real point of difference is a green mortgage discount for energy-efficient homes. If your new place carries a BCA Green Mark or equivalent, you could shave something off the rate – and on a seven-figure loan, small basis points compound into real dollars over a decade.
They speak multiple languages fluently in their mortgage team, which is practical if your co-borrower or guarantor is more comfortable discussing large sums in Mandarin, Malay or another language. Cash rebates and extended tenures round out the package, and their digital tools for tracking the loan and managing payments are polished – the kind of interface you would expect from a bank that operates across sixty markets.
Buyers of BCA Green Mark homes can access rate discounts that compound meaningfully over a long mortgage. The application process acknowledges energy-efficient property credentials, so the savings align with the property’s certification from day one. For eco-conscious buyers, this is a rate benefit that rewards the property choice itself.
Address: 50 Raffles Pl, Singapore Land Tower, Singapore 048623
Phone: +65 1800 472 2669
Hours: Mon–Fri 9:30 AM–3:30 PM, Sat 9:30 AM–12:00 PM, Sun closed
Website: HSBC Bank
A natural fit for expatriates, permanent residents who travel frequently, or any buyer whose property ticks the green box. If you want one bank that handles your mortgage here and your accounts overseas, HSBC makes that connection simple.
Citibank
Citibank operates out of Asia Square Tower 1 with a home loan team that has stripped down the application process to something you can mostly do while waiting for your latte. They offer 1- to 2-year fixed rates and SORA-based floating loans, and the standout feature for someone who values freedom is the availability of no-lock-in packages. If you think you might sell or refinance within a year, losing a lock-in penalty could pay for a holiday, so this structure is worth its weight.
There is also a clever tie-in with Citibank credit card rewards. The loan sits inside the same ecosystem as your everyday spending, which means your mortgage might help you earn miles or cashback – a small, pleasing side effect of a very large debt. Loans above $500,000 are their sweet spot, aligning with most central-region condo purchases.
The no-lock-in package is the headline for anyone who might sell or refinance within a year. Without a lock-in, the exit cost becomes zero, turning the loan into a flexible bridge rather than a long-term chain. The application process is streamlined for speed.
Address: Asia Square Tower 1, 8 Marina View, #21-00, Singapore 018960
Phone: +65 6224 5757
Email: [email protected]
Hours: Mon–Fri 9:30 AM–6:00 PM, Sat–Sun closed
Website: Citibank
This is for the digital-native buyer who would rather upload everything once from a phone than sit in a branch. If you are already in the Citi ecosystem for cards or wealth, adding the mortgage there keeps life tidy – one app, one password, one weekend morning spent checking your net worth.
Maybank
Maybank works out of its tower on Battery Road with a housing loan proposition that splits into two lanes: conventional loans and Islamic-compliant financing. For buyers who need a Shariah-adherent structure, Maybank is one of the most experienced names in town, and their Islamic products are built on a commodity murabahah structure that keeps the cost transparent and the transaction clean.
Both lanes offer 2-year fixed and 3M SORA floating rates with low spreads. Where Maybank really shines is in BUC – building under construction – loans. Their progressive payment schemes match the developer’s drawdown schedule naturally, and free conversions let you switch between fixed and floating when the project hits TOP. That is a level of flexibility that suits a buyer who knows the property will be a different asset in three years’ time than it is on paper today.
For buyers requiring a Shariah-compliant structure, the commodity murabahah setup keeps the financing transparent and the cost structure easy to track. The bank’s experience with Islamic home financing means the paperwork reflects the structure without unnecessary complexity. This is a straightforward path for those whose principles require it.
Address: Maybank Tower, 2 Battery Road, Singapore 049907
Phone: 1800 629 2265
Hours: Mon–Fri 10:00 AM–6:30 PM, Sat–Sun closed
Website: Maybank
Pick Maybank if you need an Islamic financing option or are buying an uncompleted property and want a loan that bends around the developer’s timeline instead of forcing you into a one-size-fits-all box. Their Saturday closure means you should plan weekdays for branch visits.
This is an editorial round-up, not a paid directory. Think we have missed somewhere? Tell us what you do and why it belongs here.
CIMB Bank
CIMB sets up at Raffles Place with a housing loan that feels deliberately uncomplicated: fixed-rate packages spanning 1 to 3 years, SORA floating options, and a cashback of up to 0.1% that puts a little cash in your pocket after the loan disburses. The draw for a time-sensitive deal is their quick disbursement track record – they know a resale HDB purchase has a firm completion date and they move to meet it.
Flexible repricing means you are not trapped staring at a rate sheet that has moved against you. If the market shifts, you can sit down with them and reprice without having to refinance out to another bank, which saves legal fees and paperwork. Their digital portal handles straightforward applications cleanly, and the terms are written in plain enough English that you do not need a broker to decode them.
The cashback puts a small sum back in your account after disbursement, and the processing timeline is built around firm completion dates. For resale HDB buyers who cannot afford delays, the bank’s track record on hitting deadlines is the practical advantage.
Address: 30 Raffles Place, #04-01, Singapore 048622
Phone: +65 6333 7777
Hours: Mon–Fri 9:00 AM–4:30 PM, Sat 9:00 AM–1:00 PM, Sun closed
Website: CIMB Bank
Ideal for a buyer who wants good value without complex structures, whether it is a resale HDB or a private property. If you are the sort who reads the fine print once and wants it to make sense the first time, CIMB’s approach will feel like a relief.
Bank of China (BOC)
BOC operates from the Bank of China Building on Battery Road with a housing loan offer that is particularly useful for anyone with financial ties across Singapore and China. Their fixed-rate packages span 2 to 3 years, and the 3M SORA floating loans come with a 100% penalty waiver on sales – sell your property during the lock-in period, and the bank does not claw anything back. That is a practical safeguard for an investor who might need to liquidate.
Extended tenures stretch the repayment timeline, and cash rewards sweeten the refinancing journey for high-value private properties. The international client support is a quiet strength: if you have family or business interests in China, BOC can structure the loan with an understanding of cross-border fund flows that a purely domestic bank might not have.
The 100% penalty waiver on sale during lock-in is a safety net for investors who may need to exit before the fixed period ends. It removes the financial friction of selling early, so your property decisions are not forced by the loan contract.
Address: Bank of China Building, 4 Battery Road, Singapore 049908
Phone: 1800 669 5566
Hours: Mon–Fri 9:00 AM–4:00 PM, Sat 9:00 AM–12:00 PM
Website: Bank of China
Consider BOC if you are refinancing a private property, value penalty-waiver safety nets, or move money regularly between Singapore and China. The weekend half-day on Saturday is handy if your weekday is packed.
Standard Chartered Bank (SCB)
Standard Chartered runs its mortgage desk out of Marina Bay Financial Centre Tower 1, and the pitch is built around flexibility and sustainability. Their 2-year fixed and 3M SORA floating packages include a no-lock-in option for certain funds, which is useful if your liquidity situation might change and you do not want to be penalised for paying down early. Priority banking perks tag along if you qualify – faster service, a dedicated contact, and the kind of attention that makes a large loan feel less like an assembly line.
The green incentives mirror the industry shift toward rewarding sustainable homes, and their advisory team is trained to talk about wealth preservation, not just interest rates. That perspective helps if you are viewing your mortgage as one lever in a larger financial plan rather than a standalone product.
No-lock-in options on certain funds and sustainability-linked perks make this a fit for liquidity-aware borrowers. If your cash position might change mid-term, the ability to pay down early without penalty preserves your financial agility. Priority banking clients may also see faster service, which saves time on follow-ups.
Address: Marina Bay Financial Centre Tower 1, 8 Marina Boulevard, #27-01, Singapore 018981
Phone: +65 6747 7000
Hours: Mon–Fri 10:00 AM–5:00 PM, Sat–Sun closed
Website: Standard Chartered Bank
Good for a private property buyer who wants advisory depth, a no-lock-in safety valve, and a bank that prioritises relationship over transaction. The weekday-only hours mean you should schedule a morning appointment if you are coming from work.
RHB Bank
RHB operates from Cecil Street with a housing loan offer that keeps things simple and cost-conscious. Fixed-rate packages run 1 to 2 years, and their SORA floating rates come with cash rebates and flexible partial redemptions – if a bonus lands and you want to knock a chunk off the principal, the bank lets you do it without a stiff penalty. That small bit of freedom can shorten your loan by years.
They are a practical choice for HDB refinancing and private condos where the loan volume is high but you want the fees kept low. Their reputation for responsiveness means enquiries get answered, and the approval timeline is competitive. If you are an investor who values efficiency over frills, RHB delivers the core of what you need without making you pay for extras you will not use.
Partial redemption flexibility is the key feature for buyers whose income includes irregular bonuses. Applying a lump sum directly to principal without a stiff penalty can shorten the loan term noticeably. The overall structure stays cost-conscious and straightforward. For borrowers who want to clear debt faster on their own timeline, this is a direct path.
Address: 90 Cecil Street, #01-00, Singapore 069531
Phone: 1800 323 0100 (Local) / +603 9145 1388 (Overseas)
Hours: Mon–Fri 9:00 AM–4:00 PM, Sat–Sun closed
Website: RHB Bank
Worth a look for the pragmatic buyer who wants competitive rates, the ability to make partial repayments without drama, and a bank that answers the phone. If you are refinancing an HDB and the fees at your current bank are starting to annoy you, RHB is a low-friction alternative.
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How to choose
Pick the loan structure first, then the bank. Fixed-rate packages give you certainty for the next 2 to 5 years – useful if you are stretching your budget and cannot stomach a rate hike. Floating rates pegged to SORA (1-month or 3-month) tend to start lower but move with the market; they suit borrowers with a buffer who can absorb fluctuations. Some banks offer both and let you switch after a set period, which is worth asking about explicitly.
Pay attention to the lock-in period. A standard lock-in is 2 years, and breaking it triggers a penalty of around 1.5% of the loan amount. If you might sell, refinance or make a large partial repayment within that window, look for packages with no lock-in or penalty waivers on sale – several banks on this list do that. Legal fee subsidies, cash rebates and free repricing after lock-in can tip the value in a bank’s favour even if their headline rate is a fraction higher.
For BUC properties, the loan structure matters more than the rate alone. Banks that waive interest on undrawn amounts or offer progressive payment alignment save you real money during the construction phase. If you are buying green, HSBC, OCBC and Standard Chartered all have sustainability-linked incentives worth asking about. Loan amounts below $300,000 and above $600,000 often unlock different pricing tiers, so share your intended quantum early when you call for indicative rates.
| Bank | Fixed Rate Options | Floating Rate Benchmark | Standout Feature | Best For |
|---|---|---|---|---|
| DBS | Up to 5 years | 3M SORA / FHR6 | Penalty waiver on unreleased BUC amounts | BUC condos, large loans |
| OCBC | 2 years | 1M / 3M SORA | Cash reward up to $3,300 | Resale private, HDB refinancing |
| UOB | 2-3 years | SORA-linked | Zero upfront fees for refinancing | Landed, EC, refinancing |
| HSBC | 2 years | 3M SORA | Green mortgage discount | Expatriates, sustainable homes |
| Citibank | 1-2 years | SORA-based | No-lock-in packages available | Digital applicants, flexibility seekers |
| Maybank | 2 years | 3M SORA | Islamic financing, BUC progressive schemes | Shariah-compliant, under-construction |
| CIMB | 1-3 years | SORA-linked | Cashback up to 0.1% | Value seekers, quick disbursements |
| BOC | 2-3 years | 3M SORA | 100% penalty waiver on sales | Cross-border clients, refinancing |
| SCB | 2 years | 3M SORA | No-lock-in for certain funds | Priority banking, green homes |
| RHB | 1-2 years | SORA-linked | Flexible partial redemptions | HDB refinancing, low fees |
Summary
The right housing loan comes down to your property type, your timeline and how much flexibility you need. Fixed rates suit the certainty-minded; SORA-pegged loans reward those who can weather some movement. The ten banks here each bring something distinct – whether it is a green discount, a penalty waiver, or simply a lower fee structure. Narrow your shortlist to two or three, request indicative letters and compare the fine print side by side. A few hours spent now can quietly save you thousands over the life of the loan.
For a break from the spreadsheets, browse our picks for Vegetarian Restaurants in Singapore or plan your next escape with Tour Agencies in Singapore – good food and a holiday are the best rewards after signing on the dotted line.
Disclaimer: All information provided here has been compiled from publicly available sources. While we have made every effort to ensure accuracy, we do not guarantee that the information is complete or error-free. We disclaim any liability for inaccuracies or omissions. Rates, fees and terms can change, so please confirm details directly with the bank before making a decision.
Frequently asked questions
What is the difference between a fixed-rate and a floating-rate housing loan?
A fixed-rate loan locks your interest rate for a set period, usually 1 to 5 years, so your monthly payment stays the same. A floating-rate loan is pegged to a benchmark like SORA and moves when the benchmark moves, which means your instalment can go up or down over time.
Which benchmark is commonly used for floating-rate home loans in Singapore now?
Most banks have moved to SORA – the Singapore Overnight Rate Average – offered in 1-month or 3-month variants. Some banks also use their own board rates like DBS’s FHR6, but SORA is now the industry standard for transparency.
What is a lock-in period and should I avoid it?
A lock-in period is a window, often 2 years, during which you pay a penalty if you redeem or refinance the loan in full. It is not necessarily bad – packages with a lock-in sometimes offer a lower rate. If you think you might sell or refinance soon, ask for a no-lock-in or penalty-waiver option.
I am buying a building under construction (BUC). Which banks handle that well?
Maybank and DBS are particularly strong for BUC loans. Maybank offers progressive payment schemes that match the developer’s drawdown schedule, and DBS waives interest on loan amounts that have not been disbursed yet, which saves you money during construction.
Can I get a housing loan that aligns with Islamic financing principles?
Yes. Maybank offers Shariah-compliant home financing in Singapore under a commodity murabahah structure. It is available for both completed and under-construction properties and functions as a genuine alternative to conventional interest-based loans.
Are there any housing loans that reward me for buying an energy-efficient home?
HSBC, OCBC and Standard Chartered each offer green mortgage incentives. If your property carries a recognised sustainability certification like BCA Green Mark, you could qualify for a rate discount or preferential terms – ask the bank directly when you enquire.
