Best Home Loans in Singapore 2018

Updated 4 Sep 2018

Home loan interest rates go up and down. When comparing housing loan rates, it is very different from other personal loans where flat rates are often applied. Instead focus your attention on the ‘rate type’ instead of how high or how low it is. There are two types of interest rates in housing loans, the fixed rate and floating rates.
Here are some benefits if you compare home loan rates:
• Lower rate of interest and lower overall payments
• Current borrowers may avail lower interest rate by refinancing your home loan
• You can choose between floating interest rate or fixed interest rate as per your requirements

 

Best Home Loans for Private Properties (New Purchase)

Home loans for new private properties are made available by banks operating in Singapore to citizens, permanent residents of Singapore and overseas buyers who have purchased a property that has TOP. There are several different types of loans that include fixed interest rate loan, variable interest rate loan, and loans with interest rate pegged to Singapore Interbank Offered Rate (SIBOR).

Best (Fixed Rate) Home Loans for Private Properties (New Purchase)

When choosing a mortgage, will a fixed or variable rate best serve your needs? Fixed-rate mortgages are what they sound like: the payment rates are set at the beginning and do not change for the entire course of the term. If the market rates go up you are protected. However, if rates go down you do not get to take advantage of these savings.

Bank of China

1.95%

Fixed

FIRST YEAR

Year 2: 2.00% Fixed

Year 3: 2.00% Fixed

3 years Lock In

Thereafter rates: 3M SIBOR + 0.70%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants

MoneyIQ Cash Rewards

Updated on 20/9/2018

Bank of China

1.90%

Fixed

FIRST YEAR

Year 2: 1.90% Fixed

Year 3: 3M SIBOR + 0.70%

2 years Lock In

Thereafter rates: 3M SIBOR + 0.70%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants 

MoneyIQ Cash Rewards

Updated on 20/9/2018

DBS

1.95%

Fixed

FIRST YEAR

Year 2: 1.95% Fixed

Year 3: DBS FHR + 1.95%

2 years Lock In

Thereafter rates: DBS FHR + 1.95%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants 

MoneyIQ Cash Rewards

Updated on 30/8/2018


Actual offers from banks are subject to change without prior notice and may not include all the features mentioned above.

Best (Variable Rate) Home Loans for Private Properties (New Purchase)

Variable interest rates can change, but they typically start at a rate lower than the fixed-rate alternative. Rates will follow movements in line with the reference rate. The reference rate may be determined by the banks or benchmarked against a publicly available indicator like SIBOR or SOR rates.

SCB

1.70%

SCB FDR + 0.98%

FIRST YEAR

Year 2: SCB FDR + 0.98%

Year 3: SCB FDR + 0.98%

2 years Lock In

Thereafter rates: SCB FDR + 0.98%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants

MoneyIQ Cash Rewards

MAYBANK

1.72%

SRFR2 - 2.78%

FIRST YEAR

Year 2: SRFR2 - 2.75%

Year 3: SRFR2 - 2.72%

3 years Lock In

Thereafter rates: SRFR2 - 2.10%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants

MoneyIQ Cash Rewards

DBS

1.75%

DBS FHR + 1.55%

FIRST YEAR

Year 2: DBS FHR + 1.55%

Year 3: DBS FHR + 1.55%

2 years Lock In

Thereafter rates: DBS FHR + 1.55%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants

MoneyIQ Cash Rewards


Actual offers from banks are subject to change without prior notice and may not include all the features mentioned above.

Best Home Loans for HDB (New Purchase)

HDB Bank loans are made available by banks operating in Singapore to citizens and permanent residents of Singapore. There are several different types of loans that include fixed interest rate loan, variable interest rate loan, and loans with interest rate pegged to Singapore Interbank Offered Rate (SIBOR).

Best (Fixed Rate) Home Loans for HDB (New Purchase)

Fixed rates: A cautious way of borrowing money, this loan will follow a pre-determined (fixed) rate of interest for a given interval, e.g. one year, two years or three years.

MAYBANK

1.95%

Fixed

FIRST YEAR

Year 2: 1.95% Fixed

Year 3: SRFR2 - 2.10%

2 years Lock In

Thereafter rates: SRFR2 - 2.10%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants 

MoneyIQ Cash Rewards

DBS

1.95%

Fixed

FIRST YEAR

Year 2: 1.95% Fixed

Year 3: DBS FHR + 1.95%

2 years Lock In

Thereafter rates: DBS FHR + 1.95%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants 

MoneyIQ Cash Rewards

Bank of China

2.08%

Fixed

FIRST YEAR

Year 2: 2.08% Fixed

Year 3: 2.08% Fixed

3 years Lock In

Thereafter rates: DBS FHR + 2.08%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants 

MoneyIQ Cash Rewards


Actual offers from banks are subject to change without prior notice and may not include all the features mentioned above.

Best (Variable Rate) Home Loans for HDB (New Purchase)

Variable rates: Rates will follow movements in line with the reference rate. The reference rate may be determined by the banks or benchmarked against a publicly available indicator like SIBOR or SOR rates.

SCB

1.70%

SCB FDR + 0.98%

FIRST YEAR

Year 2: SCB FDR + 0.98%

Year 3: SCB FDR + 0.98%

2 years Lock In

Thereafter rates: SCB FDR + 0.98%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants

MoneyIQ Cash Rewards

MAYBANK

1.72%

SRFR2 - 2.78%

FIRST YEAR

Year 2: SRFR2 - 2.75%

Year 3: SRFR2 - 2.72%

3 years Lock In

Thereafter rates: SRFR2 - 2.10%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants

MoneyIQ Cash Rewards

DBS

1.75%

DBS FHR + 1.55%

FIRST YEAR

Year 2: DBS FHR + 1.55%

Year 3: DBS FHR + 1.55%

2 years Lock In

Thereafter rates: DBS FHR + 1.55%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants

MoneyIQ Cash Rewards


Actual offers from banks are subject to change without prior notice and may not include all the features mentioned above.

Best Home Loans for Private Properties (New Launch or Under Construction)

Home loans for new private properties (New Launch or Under Construction) are made available by banks operating in Singapore to citizens, permanent residents of Singapore and overseas buyers who have purchased a property that is still under construction and has not TOP.

Best Home Loans for Private Properties (New Launch or Under Construction)

Types of loans that include variable interest rate loan pegged to the Bank’s internal rate such as Fixed Deposit Rate etc and loans with interest rate pegged to Singapore Interbank Offered Rate (SIBOR).

CIMB

1.61%

1M SIBOR + 0.10%

FIRST YEAR

Year 2: 1M SIBOR + 0.15%

Year 3: 1M SIBOR + 0.25%

2 years Lock In

Thereafter rates: 1M SIBOR + 0.60%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants

MoneyIQ Cash Rewards

SCB

1.70%

SCB FDR + 0.98%

FIRST YEAR

Year 2: SCB FDR + 0.98%

Year 3: SCB FDR + 0.98%

No Lock In

Thereafter rates: SCB FDR + 0.98%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants

MoneyIQ Cash Rewards

MAYBANK

1.70%

SRFR2 - 2.80%

FIRST YEAR

Year 2: SRFR2 - 2.80%

Year 3: SRFR2 - 2.80%

No Lock In

Thereafter rates: SRFR2 - 2.80%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants

MoneyIQ Cash Rewards


Actual offers from banks are subject to change without prior notice and may not include all the features mentioned above.

Best Home Loans for Refinance

During the lock-in period, any attempt to refinance would attract hefty charges, penalties and withdrawal of any subsidies or discounts you may have received in your current home loan package.
Once the lock-in period of the home loan is over, many homeowners in Singapore often toy with the idea of refinancing their housing loans, especially when there is a drop in interest rates.

Best (Fixed Rate) Refinance Home Loans for Private Properties

Fixed rates: A cautious way of borrowing money, this loan will follow a pre-determined (fixed) rate of interest for a given interval, e.g. one year, two years or three years.

Bank of China

1.95%

Fixed

FIRST YEAR

Year 2: 2.00% Fixed

Year 3: 2.00% Fixed

3 years Lock In

Thereafter rates: 3M SIBOR + 0.70%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants

MoneyIQ Cash Rewards

Updated on 20/9/2018

Bank of China

1.90%

Fixed

FIRST YEAR

Year 2: 1.90% Fixed

Year 3: 3M SIBOR + 0.70%

2 years Lock In

Thereafter rates: 

3M SIBOR + 0.70%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants

MoneyIQ Cash Rewards

Updated on 20/9/2018

CITIBANK

1.90%

Fixed

FIRST YEAR

Year 2: 1.90% Fixed

Year 3: 1M SIBOR + 0.85%

3 years Lock In

Thereafter rates: 1M SIBOR + 0.85%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants

MoneyIQ Cash Rewards

Updated on 4/9/2018


Actual offers from banks are subject to change without prior notice and may not include all the features mentioned above.

Best (Variable Rate) Refinance Home Loans for Private Properties

Variable rates: Rates will follow movements in line with the reference rate. The reference rate may be determined by the banks or benchmarked against a publicly available indicator like SIBOR or SOR rates.

SCB

1.70%

SCB FDR + 0.98%

FIRST YEAR

Year 2: SCB FDR + 0.98%

Year 3: SCB FDR + 0.98%

2 years Lock In

Thereafter rates: SCB FDR + 0.98%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants

MoneyIQ Cash Rewards

MAYBANK

1.72%

SRFR2 - 2.78%

FIRST YEAR

Year 2: SRFR2 - 2.75%

Year 3: SRFR2 - 2.72%

3 years Lock In

Thereafter rates: SRFR2 - 2.10%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants

MoneyIQ Cash Rewards

DBS

1.75%

DBS FHR + 1.55%

FIRST YEAR

Year 2: DBS FHR + 1.55%

Year 3: DBS FHR 1.55%

2 years Lock In

Thereafter rates: DBS FHR + 1.55%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants

MoneyIQ Cash Rewards


Actual offers from banks are subject to change without prior notice and may not include all the features mentioned above.

Best (Fixed Rate) Refinance Home Loans for HDB

Fixed Rate packages are suitable for homeowners who prefer stable payments. The rates are not affected by fluctuating rates like SIBOR and SOR during the fixed period.

MAYBANK

1.95%

Fixed

FIRST YEAR

Year 2: 1.95% Fixed

Year 3: SRFR2 - 2.10%

2 years Lock In

Thereafter rates: SRFR2 - 2.10%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants 

MoneyIQ Cash Rewards

DBS

1.95%

Fixed

FIRST YEAR

Year 2: 1.95% Fixed

Year 3: DBS FHR + 1.95%

2 years Lock In

Thereafter rates: DBS FHR + 1.95%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants 

MoneyIQ Cash Rewards

DBS

2.08%

Fixed

FIRST YEAR

Year 2: 2.08% Fixed

Year 3: 2.08% Fixed

3 years Lock In

Thereafter rates: DBS FHR + 2.08%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants 

MoneyIQ Cash Rewards


Actual offers from banks are subject to change without prior notice and may not include all the features mentioned above.

Best (Variable Rate) Refinance Home Loans for HDB

Variable rate packages are suitable for homeowners who are comfortable with changing payments. Homeowners may enjoy lower payments when the reference rate such as SIBOR falls.

SCB

1.70%

SCB FDR + 0.98%

FIRST YEAR

Year 2: SCB FDR + 0.98%

Year 3: SCB FDR + 0.98%

2 years Lock In

Thereafter rates: SCB FDR + 0.98%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants 

MoneyIQ Cash Rewards

MAYBANK

1.72%

SRFR2 - 2.78%

FIRST YEAR

Year 2: SRFR2 - 2.75%

Year 3: SRFR2 - 2.72%

3 years Lock In

Thereafter rates: SRFR2 - 2.10%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants

MoneyIQ Cash Rewards

DBS

1.75%

DBS FHR + 1.55%

FIRST YEAR

Year 2: DBS FHR + 1.55%

Year 3: DBS FHR + 1.55%

2 years Lock In

Thereafter rates: DBS FHR + 1.55%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants

MoneyIQ Cash Rewards


Actual offers from banks are subject to change without prior notice and may not include all the features mentioned above.

About Singapore Home Loans

Singapore home loan
MoneyIQ makes it easier for home owners to find the best home loan for their purchases. Since 2009, we have been offering a transparent marketplace. Our home loan calculator ranked home loans by costs and never by the fees we received.

To start, simply fill out the form at the top of the page and get the home loan quotes quickly. Then compare home loans by rates, payments, total interests and fixed or floating (SIBOR or Board) rate. Choose the package you like and wait for the banker to contact you.

How much information do you need?

No personal information from you to start comparing home loan quotes. You can do the comparison without the hassle of unwanted phone calls or emails.

How to calculate home loan?

Home owners can calculator their home loan payments using our various online calculators or get an Approval In Principle (AIP) from our linked up bankers.

How to choose home loan in Singapore?

The type of home loans will affect your monthly payments and early redemption fees. Home owners should choose home loans that suit their risks, lifestyle and the type of property. For example, an investor may want to consider a fixed rate package over a floating package so that he can control his risks and yields.

Can foreigners get home loan in Singapore?

Yes, foreigners are allowed to get home loan in Singapore. However the loan to valuation ratio is likely to be lower.

How much can i borrow home loan in Singapore?

The loan amount you may borrow for your property follows the guidelines by Monetary Authority of Singapore (MAS). Borrowers are not allowed to exceed the loan to valuation under the Total Debt Servicing Ratio (TDSR).

Where can i get more information?

Home owners can compare home loan quotes anytime, anywhere they are. Our home loan calculator is available on website, on iOS app and is mobile friendly.

Which home loan is best in Singapore?

There is no one size fits all package. Home owners should choose home loans that suit their risks and lifestyle. For example, if the home owner has intention to dispose the property in the next 1-2 years, he should also consider features such as no early termination penalty.

Which bank offers a better home loan package?

Most banks offer comparative packages. Home owners should consider their relationships with the banks when choosing a home loan. For example, some banks offer better interest rates when the home owners have more than one or more products with the bank.

Will bad credit affect my home loan?

Yes, if you have bad credit. Depending on the borrowers’ credit rating, the banks may reduce the loan amount or reject the loan application.

How to contact us?

For any enquiries, please drop us an email at contact@moneyiq.sg.

Which Home Loan Type Should I Choose?

Homeowners who are comfortable with changing payments.Homeowners who prefer some stability in their monthly payments.Homeowners who prefer some stability in their monthly payments.

The type of home loan may affect your monthly payments and interest rate. Here’s a look at the pros and cons of some common loan types.
Fixed RateVariable Rate
SpreadN.ASIBORFixed DepositBoard Rate
Suitable forHomeowners who prefer stable payments.
Interest RateUsually rates are fixed for the first few years. Thereafter it will be a variable rate.Commonly use rates are 1 Month SIBOR and 3 Month SIBOR. Rate is transparent and can be found in papers.Uses the bank’s fixed deposit rate as a benchmark. Rates are priced internally by the bank.Uses the bank’s board rate as a benchmark. Rates are priced internally.
Monthly PaymentStable during the period rates are fixed.Variable payments during the loan period. May increase when SIBOR rises.Variable but change in payments may be less volatile than SIBORVariable
AdvantagesNot affected by fluctuating rates like SIBOR and SOR during the fixed period.May enjoy lower payments when SIBOR falls.Perceived as more stable rates than SIBORRates are usually lower for the first few years.
Additional DetailsUsually there will be a penalty for partial or full redemption during the lock in period.Provide a lot of flexibility in terms of repayment or switching of packages.Usually there will be a lock in loan period for completed property.Provide a lot of flexibility in terms of repayment or switching of packages.

The information provided is based on common observations. Actual offers from banks are subject to change without prior notice and may not include all the features mentioned above.