DBS Home Loans

DBS Home Loans
(Product Review)

Updated January 2, 2023

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Product Review

DBS is one of Singapore’s and Southeast Asia’s most credible banks. Its net worth of $646 billion (in holdings, resources, and credit,) with more than 10.7 million satisfied banking customers gives credence to this claim. In its 50+ years of proficient banking, the bank has carved a niche for itself as an active creditor and a trustworthy advocate of empowerment. According to its status, DBS provides services like the DBS Home Payment Care Scheme which acts as insurance against the abrupt end of salary or earnings, additional interests on savings and many more.

With over 5 decades of commercial competence, it is a bank that offers affordable mortgage loans in Singapore. DBS has some of the highest credit ratings of ‘AA-‘ and ‘Aa1’ in the world. It has also been the recipient of the distinguished ‘Safest Bank in Asia ‘ award by Global Finance for 12 years.

This renowned Singaporean bank likely offers some of the most accessible and friendly mortgage rates. Borrowers are recommended to study DBS’s housing loans and choose the package that suits their needs. Due to its unique style and strategy, the bank offers all mortgagers a chance to revise their loan arrangements. It gives S$2,000- S$3000 in subsidies for the legal fees of loans over S$500,000.

DBS has a carefully constructed portfolio that allows it to regularly present low-interest rates to its clients. This feature makes it a great choice for potential homeowners -while they search for the right loan. Although home interest rates change frequently, DBS regulates its rates to be accessible to the average service subscriber when compared to other banking houses.

For instance, DBS grants low-priced HDB and private home loans for completed buildings or ongoing building projects ( like BTO, DBSS and EC flats) with fixed or bargainable rates that can be in lock-in periods. Since competition is high in the banking business, few financial institutions offer less expensive introductory costs. However, the total cost of home loans in DBS is reasonable compared to the charges of other banks. This has been maintained because these ‘cheap’ finance establishments tend to tremendously increase their rates in subsequent years.

In addition to its budget-friendly rates, DBS demands service fees for mortgages, partial repayment fees, redemption penalties and cancellation fees.

Service Fees

As earlier stated, DBS charges standard fees for various loan services. These fees will be outlined in the table below for home loans and refinancing home loans.

Loan Type Partial Repayment fee Full Redemption Pinalty Cancellation Fee
HDB Tracker N/A N/A 1.5%
Private Tracker 1.5% 1.5% 1.5%
Board Rate (Lock-in) 1.5% 1.5% 1.5%
Board Rate (No lock-in) N/A N/A 1.5%
Fixed Rate 1.5% 1.5% 1.5%
BUC N/A N/A 0.75%
DBS HDB Home Loans

If your building project is an HDB flat, you can either choose the HDB loan or the DBS HDB housing loan to meet your needs.

A standard HDB loan has a higher interest rate of 2.6% p.a and an initial deposit of 10%( that can be paid through CPF).

While a DBS HDB bank loan gives a lower interest rate of 1-1.40% p.a but requires an initial deposit of 25% (minimum of 5% in cash).

Bank 1st Year Interest Lock-in Period
DBS SORA Check Live Rates 2 Years
DBS SORA Check Live Rates 2 Years
DBS Board Check Live Rates 3 Years
DBS Board Check Live Rates 2 Years
DBS Fixed Check Live Rates 5 Years

Fixed loan rates are great when market interest rates rise, so mortgagers can be protected from increasing mortgage costs.

When considering a refinancing plan for your home loan, take note of the flexibility of the loan regarding refinancing. Some loans give the privilege of refinancing after a year, while others lock their plans, making you unable to renegotiate or refinance with another bank. Fixed loans in Singapore have interests ranging from 3-5 years before the rates can ‘float’.

If a fixed rate loan doesn’t suit your needs, choose a floating rate loan for your HDB flat. These rates are connected to reference rates (like SIBOR, SOR, and bank’s board rate) that are always changing with time. Floating rates are beneficial when market rates are high and expected to decline in subsequent years. It is important to consider factors like ease of monthly payments, total interests and lock-in periods for refinancing when considering these home loans.

DBS Private Property Home Loan

DBS provides both fixed and floating home loan rates for executive condos and personal residential buildings.

This astute bank offers two types of floating-rate mortgages – FHR6 (a 6-month fixed deposit interest rate published on the DBS website) and packages connected to the Singapore Overnight Rate Average (SORA)

DBS’ SORA-pegged packages are based on the SORA rate which is the average rate of borrowing for borrowing transactions in the overnight interbank SGD cash market. The SORA rate of 3 months is updated every 3 months and it is validated by the Monetary Authority of Singapore (MAS), same thing applies to your 3- months home loan package.

DBS charges a mark-up which is termed a ‘spread’, on the 3- month SORA rate. This forms the total interest rate and determines your monthly deposit.

Unlike the SORA packages, DBS’ FHR6 home loans are associated with DBS’ 6- month average fixed deposit rate. Although both FHR6 and SORA rates are validated by MAS, the FHR6 rate is not as transparent as the SORA rate. The FHR6 is completely determined by DBS – a margin is used to adjust the FHR6 rate by DBS.

Bank 1st Year Interest Lock-in Period
DBS SORA Check Live Rates 2 Years
DBS SORA Check Live Rates 2 Years
DBS Board Check Live Rates 3 Years
DBS Board Check Live Rates 2 Years
DBS Fixed Check Live Rates 5 Years

When comparing fixed-rate mortgages, choose a loan with the most affordable total interest cost. It is essential to have accessible monthly payments and flexibility for the refinancing that will occur subsequently.

If a fixed rate is not convenient, search for a floating rate mortgage loan (appropriate for you) when you want to purchase your private property. Floating rates are tied to reference rates that continuously move over some time. Singapore uses the Singapore Overnight Rate Average Interest Rate Benchmark popularly identified as SORA. When choosing your floating rate, you have the privilege of picking from 1-12 months’ rates. It is recommended that you select a rate based on your analysis of the market movement. As a general rule, go for a long-term rate in a rising rate environment and a short term rate in a declining or flat environment.

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Home Loan Marketplace
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  • Launch Application via the ROSHI Marketplace

    Once your application is live you will be able to review suitable loan options on your dashboard. One of our mortgage brokers will follow up with you to discuss the best available options and next steps.

  • Choose Suitable Mortgage Option

    After you’ve decided on a preferred mortgage option one of our mortgage brokers will help process your application.

  • Settle Fees & Charges

    Settle all fees (option fee, option exercise fee to the seller as well as the relevant buyer’s stamp duty fee in case you are purchasing a private property).

  • Appointment Date & Signing

    Attent your property purchase appointment date and sign all legal documents for the transfer of the property, paying all legal and valuation fees.


  • Affordable Rates

    affordable and budget-friendly home loan interest rates

  • Refinance loans

    Provision for Mortgagers to refinance home loans of more than S$500,000

  • Interest

    Individuals hoping to earn interest as they pay off their loan

  • Limited Refinance Amount

    Borrowers seeking to refinance a home loan of less than S$500,000


Loan Features
  • Offers very affordable and accessible fixed and floating home loan rates
  • Option of lock-in periods
  • Maximum Lock-in periods is 5 years

Frequently Asked Questions

How to calculate my monthly home loan repayments?

Visit our mortgage calculator page and simply fill in loan amount, interest rate and loan tenure to find out how much your monthly repayments will be.

Can I use CPF savings to repay my DBS loan?

If you don’t have enough funds on your account to cover your monthly loan installments you may use your CPF savings, cash or a combination of both however only after approval from the CPF Board.

Can I repay my DBS home loan early?

In the case of early repayments, you must give DBS a 3-months notice after which, your title deed will be returned upon discharge of your home loan. Penalties might occur depending on the mortgage package terms & conditions.

Does DBS offer overseas property home loans?

Does DBS offer overseas property home loans?

How do partial repayments work?

In order to qualify for partial repayments you must submit a partial repayment request 1 month in advice. You can either pay using your CPF savings or cash.


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