Best home loan rates in singapore 2011 & 2022.
Which are the best home loan rates Singapore has in 2021 & 2022? With a myriad of home loan interest rates, explore this article to find out more
Explore various rates below to get the Best Home Loan Rate Singapore has in 2021 & 2022! Start comparing here
We help you to compare and get the best home loan rates Singapore has!
- Best Fixed Rate home loan for HDB
- Best Board Rate home loan for HDB
- Best SIBOR Rate home loan for HDB
- Best Fixed Rate home loan for Private Properties
- Best SIBOR (floating) Rate home loan for Private Properties
- Best Home Loan rate for Buildings Under Construction (BUC)
Helping you to compare the best home loan rates singapore banks provide
120 Home Loans From Over 12 Banks
1. Best Fixed Rate home loan for HDB
Currently, the best Fixed Rates Home Loans for HDB range from 1.15% to 1.30% for the first 2 years of lock in period. Fixed rates home loans as the name suggests, to not change throughout your lock in period. After the lock in period has ended, the banks may change their home loan interest rates. During this time it is advisable to reprice to another package, or refinance to another bank. In general, fixed rate home loans are good for people seeking stability.
DBS
(Lock in period: 2 years)
- 1st Year: 1.15%
- 2nd Year: 1.15%
Hong Leong Finance
(Lock in period: 2 years)
- 1st Year: 1.20%
- 2nd Year: 1.20%
Citibank
(Lock in period: 2 years)
- 1st Year: 1.20%
- 2nd Year: 1.20%
Standard Chartered Bank
(Lock in period: 2 years)
- 1st Year: 1.20%
- 2nd Year: 1.20%
Maybank:
(Lock in period: 1 year)
- 1st Year: 1.30%
- 2nd Year: 1.30%
A lock-in period of 2 years applies to all these home loans. After the lock-in period, the interest rates changes to “floating rates” which means they become the same as a floating rate package.
2. Best Board Rate home loan for HDB
As mentioned in our previous article here, board rates are determined internally by the banks themselves. They are generally less transparent and typically expensive. board rates are also more volatile. However, there can be times whereby the rates get considerably low. Here are the top 3 broad home loan rates in Singapore
RHB Bank
(Lock in period: 3 years)
- Year 1: 1.15%
- Year 2: 1.15%
- Year 3: 1.650%
Hong Leong Finance
(Lock in period: 2 years)
- Year 1: 1.30%
- Year 2: 1.30%
- Year 3: 1.30%
OCBC:
(Lock in period: 1 year)
- Year 1: 1.30%
- Year 2: 1.30%
- Year 3: 1.60%
3. BEST SIBOR Floating Rates Home Loan for HDB
SIBOR Rates are one of the most popular Home Loan Rates Singapore has. AKA The Singapore Inter-Bank Offered Rate, it is the rate at which banks offer to lend unsecured funds to other banks. The rate is extremely transparent and available online. It is not fixed and will fluctuate (called a floating rate) At time of writing, the SIBOR rate is considerably low and potentially attractive.
Notably, SORA (Sinagpore Overnight Rate Average) is to become the benchmark SGD interest rate within the next few years.
DBS
(Lock in period: 2 years)
- 1st Year: 0.932%
(3M SORA + 0.8%) - 2nd Year: 0.932%
(3M SORA + 0.8%)
Standard Chartered Bank
(Lock in period: 2 years)
- 1st Year: 0.932%
(3M SORA + 0.80%) - 2nd Year: 0.932%
(3M SORA + 0.80%)
Citibank
(Lock in period: 2 years)
- 1st Year: 0.987%
(1M SIBOR + 0.720%) - 2nd Year: 0.987%
(1M SIBOR + 0.720%)
OCBC Bank
(Lock in period: 2 years)
- 1st Year: 1.108%
(1M SORA + 0.980%) - 2nd Year: 1.108%
(1M SORA + 0.980%)
Maybank:
(Lock in period: 1 year)
- 1st Year: 1.33%
(3M SORA + 1.20%) - 2nd Year: 1.33%
(1M SORA + 0.980%)
4. BEST FIXED RATE HOME LOAN FOR PRIVATE PROPERTIES
Generally, fixed rate home loans in Singapore stay the same for the first 3 years. After which, the interest rates become “floating” and the rates will start to vary. Thye might increase or decrease depending on the interest rates then. The lock in period for the top 4 banks below range from 2-3 years.
We have put together the best fixed rate home loans in Singapore for private properties below:
Standard Chartered Bank
(Lock in period: 2 years)
- 1st Year: 1.050%
- 2nd Year: 1.050%
DBS
(Lock in period: 2 years)
- 1st Year: 1.100%
- 2nd Year: 1.100%
CIMB
(Lock in period: 2 years)
- 1st Year: 1.120%
- 2nd Year: 1.120%
Bank of China
(Lock in period: 3 years)
- 1st Year: 1.250%
- 2nd Year: 1.250%
5. Best SIBOR (floating) Rate home loan for Private Properties
Floating rates are not fixed and will change. They are tagged to SIBOR, SORA, SOR rates. These home loan rates tend to be low and very transparent. They are considered to be attractive due to their low interest rates. However as they tend to change, it is advisable to go for a longer term home loan rate if you foresee interest rates rising in the future, and a shorter term rate if in a declining interest rate environment.
Standard Chartered Bank
(Lock in period: 2 years)
- 1st Year: 8.32%
(3M SORA + 0.700%) - 2nd Year: 0.832%
(3M SORA + 0.700%)
DBS
(Lock in period: 2 years)
- 1st Year: 0.932%
(3M SORA + 0.800%) - 2nd Year: 0.932%
(3M SORA + 0.800%)
Citibank
(Lock in period: 2 years)
- 1st Year: 0.987%
(1M SIBOR + 0.720%) - 2nd Year: 0.987%
(1M SIBOR + 0.720%)
RHB
(Lock in period: 3 years)
- 1st Year: 1.067%
(1M SIBOR + 0.800%) - 2nd Year: 1.067%
(1M SIBOR + 0.800%)
6. Best Home Loan rate for Buildings Under Construction (BUC)
Why get a bank loan for your property still under construction? Simply put, CPF will always ensure that you have secured a loan first before they are able to disburse your CPF funds to pay the funds for downpayment need for their OTP. Many people are unaware of this and scramble to obtain a home loan so that they can release their CPF funds to pay their downpayment before the OTP expires.
It is advisable to start securing a loan if your property is planning to TOP in 2-3 years time.
DBS
(Lock in period: 0 years)
- 1st Year: 1.010%
(3M SORA + 0.880%)
- 2nd Year: 1.010%
(3M SORA + 0.880%)
OCBC
(Lock in period: 0 years)
- 1st Year: 1.119%
(1M SORA + 0.980%) - 2nd Year: 1.119%
(1M SORA + 0.980%)
Standard Chartered Bank
(Lock in period: 0 years)
- 1st Year: 1.080%
(3M SORA + 0.950%) - 2nd Year: 1.080%
(3M SORA + 0.950%)
Citibank
(Lock in period: 0 years)
- 1st Year: 1.450%
(3M SORA + 1.320%) - 2nd Year: 1.450%
(3M SORA + 1.320%)
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Types of different mortgage housing loan in Singapore
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With over 10 banks and mortgage loan providers in Singapore, we help you sort through the clutter to present you with the best home loan interest rate. Banks Home loan interest rates changes ever so frequently. The best home loan rate in Singapore a few months ago may not be the best anymore. At any point of time, a different bank will be offering the best home loan rate in Singapore.
Which is why it is important to thoroughly compare between all the banks. Comparing over multiple banks and reading through all the terms & conditions can be extremely cumbersome. This is where our expertise lie. We help you sort through all the clutter to present you with the best home loan rate in Singapore. Best of all, our service is free! Compare rates here
Should you go for a Fixed home loan rate. Or a floating home loan rate in Singapore?
A fixed interest home loan rate usually tends to be higher as you are paying a premium for the stability and peace of mind. This is recommended for people who are most risk-adverse, and people who are self-employed, freelancers, commission based.
A floating interest home loan rate in Singapore includes loans pegged to SIBOR, SORA, SOR. They tends to be lower, but are subjected to fluctuations. Recommended for people who can take some elements of risk.
Do contact us to compare the latest rates.
At YourInterestFirst. We charge $0 Fees. Yes. The service is completely free for you. We help you compare from over 10 banks & mortgage providers to get the lowest interest rate. Furthermore, the home loan interest rate is exactly the same as if you got it from the bank directly. Which means the amount you pay for your loan is exactly the same.
All banks pay us the same amount of referral fee. Which means we are incentivised to put your well-being first, and get you the best home loan interest rate.
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Should you go for a Fixed home loan rate. Or a floating home loan rate in Singapore?
A fixed interest home loan rate usually tends to be higher as you are paying a premium for the stability and peace of mind. This is recommended for people who are most risk-adverse, and people who are self-employed, freelancers, commission based.
A floating interest home loan rate in Singapore includes loans pegged to SIBOR, SORA, SOR. They tends to be lower, but are subjected to fluctuations. Recommended for people who can take some elements of risk.
Do contact us to compare the latest rates.
