Compare Mortgage Rates in

Singapore and Pick the

Best Home Loan Rates

You are now one step closer to securing your dream home after purchasing your property. Let PropertyGuru help you pick the home loan best-suited to your needs by comparing and securing the best housing loan interest rates for you.
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Great rates from all major banks
  • 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

Private property home loans

If you are purchasing private property, banks or other financial institutions are your only viable options to finance a mortgage. There are different mortgage rates for completed properties, as well as projects that are still under construction. Depending on your risk tolerance and monthly instalment budget, pick from a wide list of home loan options on PropertyGuru, using our Mortgage Comparison tool. If you need tailored financial advice, speak to our friendly and knowledgeable Mortgage Experts. They can help you find the optimal home loan package for your needs.
Package Details*Year 1 Interest Rate
Standard Chartered Bank
(Floating rate, 2 years lock-in period)
2.44%
Citibank
(Floating rate, 2 years lock-in period)
2.47%
OCBC
(Fixed rate, 1 year lock-in period)
2.68%
* Subject to lender's approval and change without prior notice (as of 12-Sep-2022).
We can help you secure the best rate
See All Private Rates
If you are purchasing private property, banks or other financial institutions are your only viable options to finance a mortgage. There are different mortgage rates for completed properties, as well as projects that are still under construction. Depending on your risk tolerance and monthly instalment budget, pick from a wide list of home loan options on PropertyGuru, using our Mortgage Comparison tool. If you need tailored financial advice, speak to our friendly and knowledgeable Mortgage Experts. They can help you find the optimal home loan package for your needs.
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Regardless of whether you are opting for an HDB or bank loan, our Mortgage Experts can guide you through the home loan application process. The cherry on top, you won't pay a dime for their support.

HDB home loans

There are various available options when seeking out the best home loan interest rates to finance HDB flats. If either you or your spouse is Singaporean, you can apply for HDB's housing loan which has a lower cash downpayment requirement and a higher LTV of 85%. Qualifying for an HDB loan, however, comes with various requirements, such as not exceeding the maximum household income limit and not having any private or commercial properties under your name.

HDB housing loan's interest rate of 2.6% is calculated by taking the current CPF Ordinary Account (OA) interest rate and adding 0.1% to it. As such, in theory, interest rate for HDB's housing loan can change if the OA interest rate changes (but it is no secret that OA interest rates have remained stable).

Taking a bank loan can potentially be more attractive, given the more competitive interest rates and wide options of packages to pick from. Should you be interested in taking up a bank loan, find the best home loan interest rates for your HDB flat on PropertyGuru or talk to our Mortgage Experts.
Package Details*Year 1 Interest Rate
Standard Chartered Bank
(Floating rate, 2 years lock-in period)
2.44%
Maybank
(Floating rate, 0 years lock-in period)
2.52%
Hong Leong Finance
(Fixed rate, 2 years lock-in period)
2.60%
* Subject to lender's approval and change without prior notice (as of 12-Sep-2022).
FeatureHDB LoanBank Loan
Interest Rate*
2.6%
1 to 4.85%
LTV Ratio
85%
75%
Downpayment
By cash and/or CPF
At least 5% cash
* Subject to lender's approval and change without prior notice (as of 12-Sep-2022).
We can help you secure the best rate
See All HDB Bank Rates
There are various available options when seeking out the best home loan interest rates to finance HDB flats. If either you or your spouse is Singaporean, you can apply for HDB's housing loan which has a lower cash downpayment requirement and a higher LTV of 85%. Qualifying for an HDB loan, however, comes with various requirements, such as not exceeding the maximum household income limit and not having any private or commercial properties under your name.

HDB housing loan's interest rate of 2.6% is calculated by taking the current CPF Ordinary Account (OA) interest rate and adding 0.1% to it. As such, in theory, interest rate for HDB's housing loan can change if the OA interest rate changes (but it is no secret that OA interest rates have remained stable).

Taking a bank loan can potentially be more attractive, given the more competitive interest rates and wide options of packages to pick from. Should you be interested in taking up a bank loan, find the best home loan interest rates for your HDB flat on PropertyGuru or talk to our Mortgage Experts.

Three simple steps to get your preferred bank home loan approved

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Calculating Your Maximum Loan Amount

The maximum amount you can borrow from the bank to pay for your property is determined by calculating your Total Debt Serving Ratio (TDSR) or Mortgage Servicing Ratio (MSR). These can be calculated using PropertyGuru's linked mortgage calculators.
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Obtain Your In-Principle Approval (IPA)

Much like the HLE, the IPA is a written documentation issued by the bank stating and documenting the maximum amount of home loan you can take to purchase your property.
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Applying for the Home Loan

Upon receiving the IPA, home buyers have up to 30 days to pay the OTP before the IPA expires. Thereafter, the OTP is valid for 21 days for home buyers to make the relevant down payment and obtain approval for the preferred bank loan to take effect.

How to choose a home loan?

Choosing the Best Home Loan Interest Rates
KEY CONSIDERATIONS

Choosing the Best Home Loan Interest Rates

If you are browsing this page, you are probably wondering, “Which home loan is the best for me?”. Decoding the technical home loan jargon and comparing the numerous packages and interest rates offered by the various banks in Singapore can be time-consuming and tedious. Not sure where to start? Begin by understanding the different types of home loans available to you and mortgage terminology used.
With so many banks offering different home loan packages, choosing the right home loan rates can be hard. When assessing the right package for you, consider:
If a fixed interest rate or floating interest rate is preferable for you
The duration of the lock-in period
If there is any waiver of redemption payable if the property is sold during the lock-in period
If there is any free conversion within or at the end of the lock-in period
Regardless of whether you are going for an HDB or bank loan, deciding on a mortgage is entirely dependent on your financial capabilities and risk profile. If you are leaning towards a loan with lower risk, HDB's housing loan with a fixed rate of 2.6% may be for you. If you have the appetite for some financial risks and have the financial discipline to review and refinance your housing loan once every couple of years, bank loans may be a viable option for you.

As every housing situation is unique, consider speaking to one of our Mortgage Experts to get your situation assessed and receive tailored advice at no added cost.

Questions we get asked a lot