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DBS Home Loan

DBS has a full range of home loans including fixed rate mortgage loans, floating rate mortgage loans and bridging loans for HDB and private property.
Property Type
Building Status
Loan Amount
S$
S$
Loan Tenure
Yrs
Yrs
Property Type
Building Status
Loan Amount
S$
S$
Loan Tenure
Yrs
Yrs
Property Type
Building Status
Loan Amount
S$
S$
Loan Tenure
Yrs
Yrs

Our recommendations

  • Lowest Interest
  • Top Selling
  • Promotions
We recommend these packages with the lowest interest rates for you.
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Not sure which loan is right for you?

Our Mortgage Experts help you unpack the T&Cs to find the best fit. No strings attached. No hidden fees.

We found 6 other home loans for you

These rates are accurate as of 21 February 2024

DBS 3 Year Fixed Package

Rate TypeFixed
Lock-in Period3 years
Interest Rate Year 13.75%
Instalment Year 1S$ 3,010 /mo
Interest Rate Year 13.75%

DBS 4 Year Fixed Package

Rate TypeFixed
Lock-in Period4 years
Interest Rate Year 13.75%
Instalment Year 1S$ 3,010 /mo
Interest Rate Year 13.75%

DBS 5 Year Fixed Package

Rate TypeFixed
Lock-in Period5 years
Interest Rate Year 13.75%
Instalment Year 1S$ 3,010 /mo
Interest Rate Year 13.75%

DBS 3M SORA Package

3M SORA + 0.60%Floating
Lock-in Period2 years
Interest Rate Year 14.24%
Instalment Year 1S$ 3,194 /mo
Interest Rate Year 14.24%

DBS 3M SORA Package

3M SORA + 0.65%Floating
Lock-in Period2 years
Interest Rate Year 14.29%
Instalment Year 1S$ 3,213 /mo
Interest Rate Year 14.29%

Not sure which loan is
right for you?

Our Mortgage Experts can help you unpack
the T&Cs to find the best fit.
No strings attached.
Completely free.

DBS 3M SORA Package

3M SORA + 0.75%Floating
Lock-in Period2 years
Interest Rate Year 14.39%
Instalment Year 1S$ 3,251 /mo
Interest Rate Year 14.39%

DBS Home Loans

DBS offers home loans for both new and resale HDB flats and Executive Condominiums. They also offer home loans for all types of new and resale private property, including landed homes, strata landed houses and condo units.
Bank nameDBS
Loan typesFixed, Floating, FHR, Board Rate
Lock-in0, 2, 3, 5 years

SIBOR Home Loan

Many banks peg their floating interest rates to the Singapore Interbank Offered Rate (SIBOR). SIBOR is a benchmark rate that is derived from the interest rate on the wholesale interbank market in Singapore—in other words, it is the interest rate at which banks lend to each other. DBS does not use SIBOR for its floating interest rates, instead pegging them to the Fixed Deposit Home Rate (FHR).

FHR Home Loan

The Fixed Deposit Home Rate (FHR) is derived from a bank's interest rates for fixed deposits, determined internally. DBS pegs its floating interest rates to the FHR, making it a good alternative to those who do not want to opt for floating home loans pegged to SIBOR.

Board rates Home Loan

Board rates are interest rates determined internally by the bank. The Fixed Deposit Home Rate (FDR) to which DBS's floating interest rates are pegged is one example of a board rate. The bank reserves the right to amend board rates from time to time.

Building Under Construction (BUC) Home Loan

DBS's home loans can be used to finance property that is still in the process of being built and has not yet received its Temporary Occupation Permit (TOP). In such cases, the buyer has not yet received the keys to the property and cannot yet move in. HDB BTO flats and new launch condos are examples of BUCs. BUC home loans will make disbursements according to the progressive payment scheme.

Bridging Loan

A short-term bridging loan offers a way to finance a property purchase if you would like to proceed with it before you have managed to sell your existing property. The bridging loan, which usually has a term of a few months, will offer financing until you are able to obtain the sales proceeds from your existing property.

Home Loan Promotions

DBS sometimes offers legal subsidies on home loans. Legal subsidies may be calculated as a percentage of your loan principal amount and are meant to lower your conveyancing costs. From time to time, DBS also offers promotional home loan rates. Contact our Mortgage Experts to stay up-to-date on DBS's latest promotions.

DBS Home Loan Refinance

In order to ensure that the home loan interest rates you are paying stay competitive, it is a good idea to look out for refinancing opportunities. Compare home loans and check if refinancing to a DBS loan would save you money in the long run. If you need assistance comparing home loans, PropertyGuru Finance can help you find the best deals.

Home Loan Promotions

DBS sometimes offers legal subsidies on home loans. Legal subsidies may be calculated as a percentage of your loan principal amount and are meant to lower your conveyancing costs. From time to time, DBS also offers promotional home loan rates. Contact our Mortgage Experts to stay up-to-date on DBS's latest promotions.

DBS Home Loan Refinance

In order to ensure that the home loan interest rates you are paying stay competitive, it is a good idea to look out for refinancing opportunities. Compare home loans and check if refinancing to a DBS loan would save you money in the long run. If you need assistance comparing home loans, PropertyGuru Finance can help you find the best deals.

Apply for DBS Home Loan Through Us

Check DBS home loan interest rates and apply for a loan on PropertyGuru. Get in touch with our Mortgage Experts, who can help you every step of the way.

Documents Required

You will need the following documents when applying for a DBS home loan

  • NRIC (for Singaporeans and PRs) / passport (foreigners)
  • Option to Purchase (OTP) or Sales and Purchase Agreement
  • HDB flat and financial information
  • Option to Purchase (OTP) or Sales & Purchase Agreement
  • Value confirmed by HDB (For HDB resale)
  • Valuation report (for private property and Executive Condominium)
  • Latest Notice of Assessment or 12 months CPF contribution history
  • Latest 3 months' payslips (or latest payslip and employment contract if working for less than 3 months)
  • Latest 3 months' salary crediting account statements (additional documents required for those working overseas)
  • Latest credit facilities statements (eg. existing home loans, credit card, car loan, personal loan facilities, etc)
  • Letter of Offer from financial institution (refinancing only)
  • Latest 6 months' loan repayment history (refinancing only)
  • IRAS My Property Portfolio (if owner-occupied; refinancing only)
  • Latest CPF Property Withdrawal Statement (if you have an existing term loan or are applying for a term loan; refinancing only)
  • HDB flat information and financial information (refinancing from HDB loan only)

Process and Fees

DBS will issue a Letter of Offer upon approval of your home loan. After accepting the Letter of Offer, certain fees will be chargeable if you wish to make any changes to your mortgage package, such as revising the loan amount.

Expert's opinion

Banks change their home loan interest rates frequently, so it is a good idea to compare home loans often and refinance your existing home loan when the time is right. This can save you money over the long term.

You can compare home loan interest rates on PropertyGuru Finance, or get recommendations tailored to your needs from our Mortgage Experts.

Expert's opinion

Frequently Asked Questions

  • You can make your monthly home loan repayments in cash or by using your CPF savings (if eligible).

  • You can repay your DBS home loan at any time. However, a prepayment penalty might be imposed depending on the terms of your home loan package. One alternative to repaying your loan early is to ask for your loan tenure to be shortened. This will raise your monthly repayments and enable you to pay off your loan earlier.

  • DBS assesses home loan eligibility on a case-by-case basis. To find out if you qualify for a DBS home loan, speak to a representative from PropertyGuru Finance.

  • That will depend on the type of home loan package you opt for. DBS's floating interest rates are pegged to the Fixed Deposit Home Rate (FHR) rather than the Singapore Interbank Offered Rate (SIBOR).

  • Yes. However, a prepayment penalty might be imposed depending on the terms of your existing home loan package. To identify good refinancing opportunities, contact PropertyGuru Finance.

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Private property loan Singapore: Getting a loan for your home

Congratulations on finding your dream home! Now, it's time to think about financing your latest property purchase. If you are buying private property in Singapore, chances are that it will cost more than $1 million.
Most of us cannot afford such a large sum and would generally rely on a house loan to pay for it over a period of up to 35 years, which is the maximum loan duration for private property.

Property loan Singapore: How to get a property loan?

Not sure where to start? Here's an overview of the steps needed to get a property loan and buy a condo or landed property.
  1. Work out your budget with the PropertyGuru Finance's Mortgage Affordability Calculator.
  2. Secure an Approval-in-Principle (AIP), also known as In-Principle Approval (IPA).
  3. Compare bank loans on PropertyGuru Finance.
  4. Obtain a bank loan and receive a Letter of Offer.
  5. Exercise your Option to Purchase (OTP).
  6. Proceed to buy the property.
Unlike HDB flats, private property purchases are not eligible for the HDB Housing Loan.

Types of bank loans: Fixed vs floating rate packages

If you haven't yet got a clue which property loan to choose, there are two main types of mortgage packages: Fixed rate and floating rate.

Fixed rateHome loans which remains fixed for the duration of their lock-in period
Floating rateFluctuating rates that are linked to SORA

Fixed rate private property loan

For fixed rate private property loans, your instalments will remain the same until the end of the lock-in period. The lock-in period ranges between one to five years, depending on the home loan package you choose.
Once the fixed interest rate time frame is complete, it will change to a, usually more expensive, floating interest rate. At this point, you should explore refinancing options which may help you enjoy more savings.

Floating rate private property loan

Floating rate packages are those with interest rates that fluctuate during the loan tenure. Usually, it is pegged to another index such as against a published industry rate like the Singapore Overnight Rate Average (SORA).
It can also be linked to one of the bank's other products such as its fixed deposit rate. The bank can also choose to offer its own in-house rate known as a board rate.

Fixed rate vs floating interest rate for your private property loan

Theoretically, it's beneficial to choose fixed rates when interest rates are rising and opt for floating rates when the interest rate environment trends down.
But these things are hard to predict. You need to take into account factors like your personal preference, risk appetite and financial situation to find the most suitable private property loan for you.
Getting a personalised recommendation is one way for you to ensure your private property loan is suited for you. For such personalised recommendations and guidance, speak to our Mortgage Experts!

Private property loan Singapore

You can only finance private properties with a private property loan

HDB loan only applies to HDB flats and Executive Condominiums (EC). Therefore, you can only finance your private property with a private property loan.

Private property loans generally offer more competitive interest rates

Private property loans require a higher down payment is required for a bank loan compared to an HDB loan, financial institutions typically offer better interest rates to sweeten the deal.
In the case of floating rate packages, the interest rates of these types of private property loans fluctuate according to market conditions.
Taking a private property loan is generally cheaper because of its lower interest rates. But this may not always be the case because interest rates can fluctuate.
The best move to make is to ensure you are always looking out for the best possible interest rates on your private loan.
Getting recommendations from our Mortgage Experts is highly recommended. And make sure to gauge your affordability using the PropertyGuru Finance mortgage affordability calculator. It helps you figure out the cost of home ownership in Singapore.

Private property loan has a lock-in period

Unlike HDB housing loan, which has no lock-in period, most private loans have a lock-in period.
A lock-in period lasts between one to five years. During the lock-in period, you can't change the terms of your private loan.
The duration, interest rate, and loan amount are decided when you sign the mortgage agreement. If you wish to pay off your loan early or refinance with another bank before the lock-in period is up, you will incur a penalty. The penalty is usually 1.5% of the loan amount.
The same goes for changing the duration and/or interest rate of your loan.

Building Under Construction (BUC) properties also fall under private property loan

BUC properties simply mean properties that are still in the process of being completed. BUCs are like the Build-To-Order (BTO) flats of the ECs, condominiums and landed properties.
Private property loan is not only restricted to completed projects. If you need to finance your home that is still under construction, you can search for a suitable private property loan to finance your dream property.
You can look for mortgage brokers, including PropertyGuru Finance's team of dedicated Mortgage Experts, to guide you through the process.

Take note of the property loan limitations

Most of us will require a loan when we get our dream home. However, there are some regulations set in place by the Singapore government to inform us on the limit of our loans to finance our property.

LTV limit

The Loan-to-Value (LTV) ratio is the maximum amount that homeowners can borrow from HDB and financial institutions, put in place by the government.
LTV can be calculated by dividing the loan amount by the property value. The maximum LTV for private property loans is 75%.

TDSR limit

In addition, your Total Debt Servicing Ratio (TDSR) cannot be more than the threshold of 55%, which can be computed by dividing your total monthly debt payments by your gross monthly income.
This ensures that you will have enough funds to repay your monthly debt obligations, which includes your credit card payments, car payments, and mortgage payments.
If you decide to opt for a private loan from the bank, the maximum loan period for an HDB flat and a private property is 30 years and 35 years respectively.
You can use our mortgage affordability calculator to estimate your maximum mortgage loan.

Property loan Singapore: Loans aren't the same everywhere

They are very similar, but not the same. The amount that you are borrowing affects the monthly instalment that you need to pay every month.
You can choose to pay a higher sum of instalments every month so that you can pay up your housing loan debt as soon as possible.
Or you may pay a lower sum to ensure a healthy cash flow every month.

Interest rate can still differ

You should have already learned that there are two types of interest rate packages - fixed and floating rates.
While floating rates are dependent on market conditions, fixed rates are locked in for a period of time.
However, both floating and fixed rates can differ from bank to bank. It also depends on which type of private loan package you are taking.
Lower interest rates means greater savings and helps you keep your home loan affordable

Lock-in periods are different

Banks offer different lock-in periods for mortgage loans. This can last anywhere between one to five years.
If you are always looking out for the best deals on the market, you can choose one with a shorter lock-in period so that you can refinance or reprice after the end of the lock-in period.
Sometimes, refinancing your mortgage loan with another bank comes with its own perks. That said, refinancing can be a tedious process and you will need to pay additional legal and valuation fees.
Consider using SmartRefi to find out the best time to refinance. SmartRefi also helps you to search for the most affordable mortgage package. At the same time, our Mortgage Experts can also assist you in handling the paperwork to make your home ownership experience stress-free

Occasional promotional offers from banks

Banks may offer occasional perks such as sign-on bonus, customisation of loan packages, and cashback to maintain competitiveness. You want to take advantage of such promotional offers when you refinance your private loan.

Private loan in Singapore: Keep a lookout even after signing your loan package

Even after you sign a private loan package, don't get complacent. You still get a chance to refinance or reprice after your lock-in period with the bank ends. At that point, you may want to consider switching to a new property loan package within the same bank, also known as repricing, or switch to a new bank, known as refinancing .
For a more detailed comparison, you may read our article on repricing and refinancing .

Is there someone to help with your private property loan?

Our team of friendly Mortgage Experts from PropertyGuru Finance can help you monitor your lock-in expiry and give you a reminder once your lock-in period is up.
They are a group of professionals with years of industry experience dealing with loan financing and mortgaging.
They can provide you with personalised advice by considering your current and future financial status. Tapping into the expertise of a mortgage broker can help you squeeze more savings from your private loan.
Thus, harness their experience and let our Mortgage Experts help you look out for good deals on the market.
The best part is their service is absolutely free!