WhatsApp
+65 8922 1153
Personalize your search & get unlimited access to features:

Best Mortgage rates in
Singapore 2024

We compare the latest mortgage offers from all banks, and handle the entire application process - all for free
Property Type
Building Status
Loan Amount
S$
S$
Loan Tenure
Yrs
Yrs
Property Type
Building Status
Loan Amount
S$
S$
Loan Tenure
Yrs
Yrs
Get Rate Alerts
Property Type
Building Status
Loan Amount
S$
S$
Loan Tenure
Yrs
Yrs

Our recommendations

Loans with the lowest interest rate based on your search
Lowest interest
Promotional
Package
Fixed
Rate Type
5 years
Lock-in Period
S$13,459
Instalment Year 1
2.50%
Interest Rate Year 1
Rates and Instalments
Year 12.50%S$ 13,459 /mo
Year 22.50%S$ 13,459 /mo
Year 32.50%S$ 13,459 /mo
Year 42.50%S$ 13,459 /mo
Year 52.50%S$ 13,459 /mo
Thereafter4.20%3M SORA + 1.00%S$ 15,660 /mo
Figures on this page may be rounded up or down to the nearest dollar to make them easier to compare. Mortgage rates shown may differ from those offered by a lender when you apply for your mortgage and, in some instances, may also vary based on your credit or payment history. PropertyGuru and its affiliates accept no liability for any change in mortgage rates, which are entirely at a lender's discretion.
Lowest interest
Promotional
Package
Fixed
Rate Type
3 years
Lock-in Period
S$13,459
Instalment Year 1
2.50%
Interest Rate Year 1
Rates and Instalments
Year 12.50%S$ 13,459 /mo
Year 22.50%S$ 13,459 /mo
Year 32.50%S$ 13,459 /mo
Thereafter4.20%3M SORA + 1.00%S$ 15,865 /mo
Package Benefits
  • Free package conversion
Figures on this page may be rounded up or down to the nearest dollar to make them easier to compare. Mortgage rates shown may differ from those offered by a lender when you apply for your mortgage and, in some instances, may also vary based on your credit or payment history. PropertyGuru and its affiliates accept no liability for any change in mortgage rates, which are entirely at a lender's discretion.
Lowest interest
Standard Chartered Bank 2 Year Fixed
Fixed
Rate Type
2 years
Lock-in Period
S$13,459
Instalment Year 1
2.50%
Interest Rate Year 1
Rates and Instalments
Year 12.50%S$ 13,459 /mo
Year 22.50%S$ 13,459 /mo
Year 33.65%3M SORA + 0.45%S$ 15,129 /mo
Year 43.70%3M SORA + 0.50%S$ 15,201 /mo
Thereafter4.10%3M SORA + 0.90%S$ 15,765 /mo
Package Benefits
  • Free package conversion
Figures on this page may be rounded up or down to the nearest dollar to make them easier to compare. Mortgage rates shown may differ from those offered by a lender when you apply for your mortgage and, in some instances, may also vary based on your credit or payment history. PropertyGuru and its affiliates accept no liability for any change in mortgage rates, which are entirely at a lender's discretion.
advisors online

Best rates guaranteed!

Should you find a more competitive price offered by another provider, our Lead Pricing Officer is happy to discuss a price match.

We partner with all major banks in Singapore to bring you the best mortgage deals

  • DBS
  • OCBC
  • Citibank
  • UOB
  • Standard Chartered
  • Maybank
  • RHB
  • CIMB
  • Bank of China
  • SBI
  • Hong Leong Finance
  • Singapura Finance
  • HSBC
  • DBS
  • OCBC
  • Citibank
  • UOB
  • Standard Chartered
  • Maybank
  • RHB
  • CIMB
  • Bank of China
  • SBI
  • Hong Leong Finance
  • Singapura Finance
  • HSBC
  • DBS
  • OCBC
  • Citibank
  • UOB
  • Standard Chartered
  • Maybank
  • RHB
  • CIMB
  • Bank of China
  • SBI
  • Hong Leong Finance
  • Singapura Finance
  • HSBC

We found 92 other home loans for you

These rates are accurate as of 6 December 2024
PROMOTIONAL OFFER
Rate TypeFixed
Lock-in Period2 years
Interest Rate Year 12.50%
Instalment Year 1S$ 13,459 /mo
Interest Rate Year 12.50%

Standard Chartered Bank 2 Year Fixed

Rate TypeFixed
Lock-in Period2 years
Interest Rate Year 12.55%
Instalment Year 1S$ 13,534 /mo
Interest Rate Year 12.55%
PROMOTIONAL OFFER
Rate TypeFixed
Lock-in Period2 years
Interest Rate Year 12.55%
Instalment Year 1S$ 13,534 /mo
Interest Rate Year 12.55%
PROMOTIONAL OFFER
Rate TypeFixed
Lock-in Period2 years
Interest Rate Year 12.55%
Instalment Year 1S$ 13,534 /mo
Interest Rate Year 12.55%
PROMOTIONAL OFFER
Rate TypeFixed
Lock-in Period2 years
Interest Rate Year 12.55%
Instalment Year 1S$ 13,534 /mo
Interest Rate Year 12.55%

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.
PROMOTIONAL OFFER
Rate TypeFixed
Lock-in Period3 years
Interest Rate Year 12.55%
Instalment Year 1S$ 13,534 /mo
Interest Rate Year 12.55%

Standard Chartered Bank 2 Year Fixed

Rate TypeFixed
Lock-in Period2 years
Interest Rate Year 12.55%
Instalment Year 1S$ 13,534 /mo
Interest Rate Year 12.55%
PROMOTIONAL OFFER
Rate TypeFixed
Lock-in Period2 years
Interest Rate Year 12.55%
Instalment Year 1S$ 13,534 /mo
Interest Rate Year 12.55%
PROMOTIONAL OFFER
Rate TypeFixed
Lock-in Period2 years
Interest Rate Year 12.60%
Instalment Year 1S$ 13,610 /mo
Interest Rate Year 12.60%
PROMOTIONAL OFFER
Rate TypeFixed
Lock-in Period3 years
Interest Rate Year 12.60%
Instalment Year 1S$ 13,610 /mo
Interest Rate Year 12.60%

Getting an HDB loan or bank loan for your HDB flat

So you've decided to buy an HDB flat - the next order of business is to plan how you're going to pay for it. Although public housing is generally the most affordable option in Singapore, it's still expected to set you back by a few hundred grand. That's where home loans come in, to help you finance your new home.

The good news is that for HDB properties, you can choose either an HDB loan (also called HDB Concessionary Housing Loan) or a bank loan. Here's an overview of their key differences.

HDB housing loan interest rates, eligibility and how to apply

As its name suggests, an HDB loan is a housing loan taken directly from the Housing and Development Board (HDB). Currently, the HDB loan interest rate is 2.6%. Although technically a floating rate pegged at +0.10% above the CPF Ordinary Account (OA) interest rates, HDB loan interest rates have been stable for over a decade.

To apply for an HDB loan, you must first obtain an HDB Loan Eligibility Letter (HLE), which will be valid for six months. The HDB HLE letter will indicate how much you can borrow - for an estimate, you can use the HDB loan calculator. Generally, at least one buyer must be a Singapore Citizen and your family's monthly household income must not exceed $14,000. You may refer to HDB's website for more information on the HDB loan eligibility criteria on citizenship, income ceiling and property ownership.

Bank home loan interest rates, eligibility and how to apply

Another option is to take a home loan from a bank. Unlike HDB loan interest rates which are quite stable, bank loan interest rates fluctuate and move in tandem with the market. While this may sound scary, bank interest rates have actually been lower than HDB's for the past decade, consistently hovering under 2%.

To find out more about the most competitive home loan packages, get in touch with our Mortgage Experts. We can also help you process your bank loan application. For bank loans, there are fewer hoops to jump through: the main consideration for eligibility is a good credit rating, and there is no income ceiling or restriction on citizenship.

There are two main types of bank loan packages: fixed rate and floating rate. For fixed rate packages, you will enjoy the same interest rate (and hence, monthly instalments) throughout the term of your contract. For floating rate packages, the interest rate is pegged to another index, such as the Singapore Interbank Offered Rate (SIBOR), or the bank's fixed deposit or board rates.

Frequently Asked Questions

    Learn more about home financing

    Read More
    Read More

    Rated starstarstarstarstar by our customers

    Powered by Google
    Check Out Our Reviews
    faces in bubble shapes with Property Finance logo
    • "Sheryl is very helpful and prompt with my housing loans financing queries. As first ti...Read more
      Photo of Brownie
      Brownie
      3 months ago
    • "I had an excellent experience working with Joyce Y Y Tan as my mortgage advisor. From ...Read more
      Photo of Tine Ng
      Tine Ng
      3 months ago
    • "A pleasant experience dealing with the team from PropertyGuru Finance. In particular, ...Read more
      Photo of Tabitha Quake
      Tabitha Quake
      4 months ago
    • "we engaged PropertyGuru finance to recommend bank loan package. The loan agent is able...Read more
      Photo of Kevin BAI
      Kevin BAI
      4 months ago
    • "Good experience with the process, Sheryl in particular was very helpful and resourcefu...Read more
      Photo of Xaviera Lim
      Xaviera Lim
      4 months ago
    • "Joyce Tan, the mortgage advisor that was assigned to me was extremely responsive and h...Read more
      Photo of lawrence tay
      lawrence tay
      4 months ago
    • "Joyce was extremely responsive and helped to answer any questions I had. Including lin...Read more
      Photo of mark wang
      mark wang
      4 months ago
    • "Prompt and good services! 👍"
      Photo of Zhi Peng
      Zhi Peng
      4 months ago
    • "I had the pleasure of working with Hazel, my mortgage broker, for my loan inquiries. H...Read more
      Photo of Jessie Cheng
      Jessie Cheng
      4 months ago
    Check Out Our Reviews

    Best HDB loan in Singapore 2024

    Getting an HDB loan for your HDB flat

    Although public housing is generally the most affordable option in Singapore, it's still expected to set you back by a few hundred thousand. This is where home loans come in, to assist you in financing your new home.
    The good news is that for HDB properties, you can choose either an HDB loan (also called HDB Concessionary Housing Loan) or a bank loan for HDB. Here's an overview of their key differences.

    Why consider an HDB housing loan for your HDB flat?

    Stable interest rates

    As its name suggests, an HDB loan is a housing loan taken directly from the Housing and Development Board. Currently, the HDB loan interest rate is 2.60%. Although technically a floating rate pegged at +0.10% above the CPF Ordinary Account (OA) interest rates, HDB loan interest rates have been stable for over a decade.

    No lock-in period

    A lock-in period is the length of time when you are “locked in” with your mortgage lender, and the interest rate will not change within the specified time frame.
    If you intend to end the agreement early, it will most likely cause you to incur some charges. But you can put your heart at ease as there is no lock-in period for HDB housing loans.
    Having no lock-in period means that you will not receive any penalty should you wish to pay off your loans early. You can also take advantage of a better mortgage loan package, with a lower interest rate, by refinancing your mortgage loan with a private bank if you wish.

    HDB Flat Eligibility (HFE) Letter

    An HFE letter will inform you if you are eligible for a flat purchase, CPF housing grants, or a HDB housing loan. It's a three-in-one application. If you intend to purchase an HDB resale flat, you will need a valid HFE letter, Intent to Buy (ITB), and HLE letter. Note that it takes about 21 working days to process your HFE letter application. Your HFE letter, like the HLE letter, will provide an evaluation of your eligibility for an HDB loan as well as the maximum loan amount you can get. Through the HDB Flat Portal, you may submit an application if you qualify for an HDB loan. You can choose to finance your HDB flat with an HDB loan or a bank loan.

    HDB loan isn't your only choice

    Are you only restricted to financing your HDB with an HDB housing loan? It is a common misconception that many have.
    Fortunately for you, you have the option of getting a private bank loan as well. The same goes for buyers of Executive Condominiums (ECs), which are also subsidised by the Singapore government.
    HDB loan interest rateFixed at CPF OA + 0.1%
    Bank loan tenureUp to 30 years
    HDB loan tenureUp to 25 years
    Bank loan Loan-to-Value (LTV) ratioUp to 75%
    HDB loan LTV ratio$375,000
    Bank loan down payment ratio≥ 25%
    HDB loan down payment ratio≥ 20%

    Bank loans for HDB

    Fluctuating interest rates for bank loans

    Unlike HDB housing loan interest rates, bank loan interest rates fluctuate and move in tandem with the market.
    The volatility of bank loan interest rates may be a good thing for you. Harnessing the low interest rates when it drops means greater savings, making your home loan more affordable.
    You can compare bank loans and be alerted of the best daily interest rates on the market on PropertyGuru Finance. Our team of dedicated Mortgage Experts can also help you to find the right home loan for you

    Bank loan requires a higher down payment

    Bank loans need a much larger down payment of 25%. At least 5% must be paid in cash, with the remaining 20% coming from housing grants or your CPF.

    Refinancing to bank loans

    Decided to refinance? You are able to refinance to a bank loan from an HDB loan. However, do note that you are unable to refinance back to an HDB loan from a bank loan. Hence, it is important to take note of such limitations before switching.
    On the flip side, if you have refinanced to a bank loan, you can actually reprice to a new package instead.
    Not sure what repricing and refinancing mean? Refinancing means switching to an entirely new bank and loan package from your current bank. Repricing on the other hand means sticking to the same bank but with a different loan package.
    There are numerous advantages to refinancing! If you would like to refinance, you may also use our SmartRefi tool which is completely free of charge. SmartRefi notifies you of the best time to refinance so you won't lose out on the best interest rates.
    Nevertheless, if you are feeling stuck or lost, you can always consult our Mortgage Experts who are more than happy to assist you.

    Bank home loan eligibility and how to apply

    To find out more about the most competitive home loan packages, get in touch with our Mortgage Experts. We can also help you process your bank loan application.
    For bank loans, there are fewer hoops to jump through: the main consideration for eligibility is a good credit rating, and there is no income ceiling or restriction on citizenship.
    There are two main types of bank loan packages: fixed rate and floating rate. For fixed-rate packages, you will enjoy the same interest rate and monthly instalments throughout the term of your contract.
    For floating rate packages, the interest rate is pegged to another index, such as the Singapore Interbank Offered Rate (SIBOR), or the bank's fixed deposit or board rates.

    HDB loan or bank loan

    This decision depends largely on your personal financial situation, risk appetite and more. The LTV limit - which restricts how much you can borrow, based on the property's selling price or valuation - is capped at 80% for HDB loans and 75% for bank loans (first property).
    As such, if you have limited savings, an HDB loan may be more manageable. (Note: For HDB properties, the MSR and TDSR also apply. That said, many homeowners who can afford the down payment choose to go for bank loans because of the savings that come with lower interest rates.) Assess your options in a chat with our Mortgage Experts.
    Back to Top
    Talk To Us At +65 8922 1153