Maybank Home Loans

Maybank Home Loan Rates (May 2024)
(Product Review)

Updated May 21, 2024

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Current Maybank Mortgage Rates

Today's Maybank mortgage interest rate trends in Singapore - As of Tuesday, May 21st, 2024, Maybank’s interest rates for financing a 30-year fixed home loan stands at 2.85% for private properties and 2.85% for HDB’s. In terms of floating rates, Maybank’s lowest interest rate for private property mortgages stands at 4.05% and 4.05% for HDB’s.

Product Review

Maybank is Malaysia’s leading banking group with a wide range of banking services, including mortgage lending solutions. The bank is headquartered in Kuala Lumpur, the capital city of Malaysia, but operates 25% of its business in Singapore. Maybank is known for offering attractive introductory interest rates for prospective homeowners, although these rates tend to increase significantly after the first year.

As the fourth largest operating bank in Southeast Asia, Maybank Singapore is a subsidiary of the Maybank Group. With over 60 years of experience in the financial industry, the bank has a total net worth of S$81.5 billion in assets, according to its updated annual report.

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Maybank Singapore provides Islamic financial services, such as Shari’ah-compliant property loans for business enterprises, as well as standard mortgage services for prospective homeowners.

Maybank’s mortgage bundles for home loans offer several bonuses, such as cash prizes, shopping coupons, and special renovating loan packages, among others. The bank is recognised as a reliable source of reasonable home loans in Singapore, and its branch in Singapore has received the globally recognised credit rating of “A1/P-1” from S&P. This rating is a high grade on the assessment scale.

It is important to note that Maybank tends to offer low first-year interest rates, which can quickly increase when market rates change. This can have a significant impact on the overall loan bill. Therefore, individuals interested in refinancing their home loans frequently may find Maybank’s services appealing. However, borrowers who are considering mortgages with a total loan cost should carefully consider Maybank’s offerings as they may not be entirely satisfactory.

Overall, Maybank is a reputable banking institution that offers attractive mortgage lending solutions and Islamic financial services. Its bonuses and credit rating make it an appealing option for borrowers seeking reasonable home loans in Singapore. However, it is crucial to consider the long-term impact of interest rate changes on the overall loan bill.

Maybank’s Applicable Mortgage Fees

Maybank has standard service fees associated with its home loans. These charges include partial repayment fees, full redemption charges and termination penalties. The table below gives a detailed description of Maybank’s fees according to each loan type.

Loan Type Partial Repayment fee Full Redemption Pinalty Cancellation Fee
Completed 1.5% 1.5% 0.75%
BUC N/A 0.75% 0.75%

Maybank HBD Mortgage Rates

Maybank generally offers HDB home loans with sign-up interest rates for fixed and floating rates. However, Maybank’s total loan cost is more expensive when compared with other mortgaging banks. This occurs due to the significant increase in their fixed interest rates after the lock-in period has been exhausted. Live rates of Maybank’s HDB loan offerings are listed in the table below.

  • Fixed Rates
  • Floating Rates
Bank Scheme Lock In Period 1st Yr Interest 2nd Yr 3rd Yr 4th Yr
Maybank 2 Year Fixed 2 years 2.85% 2.85% 4.51% 4.51%
Maybank 2 Year Fixed (Flexi) 2 years 2.88% 2.88% 4.51% 4.51%
Maybank 2 Year Fixed 2 years 2.90% 2.90% 4.51% 4.51%
Maybank 2 Year Fixed 2 years 2.95% 2.95% 4.51% 4.51%
Maybank 2 Year Fixed 2 years 3.30% 3.30% 4.51% 4.51%
Maybank 3 Year Fixed 3 years 3.45% 3.45% 3.45% 4.51%
Maybank 3 Year Fixed 3 years 3.75% 3.75% 3.75% 4.51%
Bank Scheme Lock In Period 1st Yr Interest 2nd Yr 3rd Yr 4th Yr
Maybank 3-Month SORA 1 year 4.15% 4.15% 4.15% 4.65%
Maybank 1-Month SORA 1 year 4.16% 4.16% 5.26% 5.26%
Maybank 1-Month SORA 1 year 4.19% 4.19% 5.26% 5.26%
Maybank 3-Month SORA 1 year 4.20% 4.00% 4.20% 4.65%
Maybank 1-Month SORA 1 year 4.26% 4.26% 5.26% 5.26%
Maybank 3-Month SORA 1 year 4.30% 4.30% 4.00% 5.00%
Maybank 1-Month SORA 1 year 4.31% 4.31% 5.26% 5.26%
Maybank 3-Month SORA 1 year 4.35% 4.00% 4.35% 4.65%

*Today's Mortgage Rates - 20 May 2024

Maybank also grants moderate introductory interest rates for BTO projects and is usually more affordable in later years of the loan’s lifespan. This emphasizes that Maybank is suitable for individuals willing to regularly refinance their home loans. The updated interest rates of Maybank’s BTO project loans are stated in the table below.

Bank 1st Year Interest Lock-in Period
MB Board Check Live Rates 0
MB 3M SORA Check Live Rates 0
MB 1M SORA Check Live Rates 0

Maybank Private Property Mortgage Rates

Maybank provides acceptable introductory fixed and floating rates for loans regarding private property. The bank rates are fit for individuals willing to regularly refinance their home loans and unsuitable for individuals that plan to utilize their initial loan terms until their lifespan is exhausted. For a current live view of Maybank’s private home loan rates, study the table below.

  • Fixed Rates
  • Floating Rates
Bank Scheme Lock In Period 1st Yr Interest 2nd Yr 3rd Yr 4th Yr
Maybank 2 Year Fixed 2 years 2.85% 2.85% 4.51% 4.51%
Maybank 2 Year Fixed (Flexi) 2 years 2.88% 2.88% 4.51% 4.51%
Maybank 2 Year Fixed 2 years 2.90% 2.90% 4.51% 4.51%
Maybank 2 Year Fixed 2 years 2.95% 2.95% 4.51% 4.51%
Maybank 2 Year Fixed 2 years 3.30% 3.30% 4.51% 4.51%
Maybank 3 Year Fixed 3 years 3.45% 3.45% 3.45% 4.51%
Maybank 3 Year Fixed 3 years 3.75% 3.75% 3.75% 4.51%
Bank Scheme Lock In Period 1st Yr Interest 2nd Yr 3rd Yr 4th Yr
Maybank 3-Month SORA 1 year 4.15% 4.15% 4.15% 4.65%
Maybank 1-Month SORA 1 year 4.16% 4.16% 5.26% 5.26%
Maybank 1-Month SORA 1 year 4.19% 4.19% 5.26% 5.26%
Maybank 3-Month SORA 1 year 4.20% 4.00% 4.20% 4.65%
Maybank 1-Month SORA 1 year 4.26% 4.26% 5.26% 5.26%
Maybank 3-Month SORA 1 year 4.30% 4.30% 4.00% 5.00%
Maybank 1-Month SORA 1 year 4.31% 4.31% 5.26% 5.26%
Maybank 3-Month SORA 1 year 4.35% 4.00% 4.35% 4.65%

*Today's Mortgage Rates - 20 May 2024

In addition to Maybank’s other loan types: is the provision for private property under construction. It makes available cost-effective first-year interest rates which tend to increase in coming years. Thus homeowners who will refinance their home loans every few years should take note of this bank. The table below describes the introductory rates of private property in Maybank.

Bank 1st Year Interest Lock-in Period
MB Board Check Live Rates 0
MB 3M SORA Check Live Rates 0
MB 1M SORA Check Live Rates 0
MAYBANK MORTGAGE CALCULATOR

PROMOTIONS

APPLICATION PROCESS

  • 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.

PRODUCT HIGHLIGHTS

  • Accessible First-Year Interest Rates

    Suitable for individuals seeking low first-year interest rates

  • Frequent Refinancing plans

    Favorable to borrowers planning to refinance their loans every few years

  • Higher Refinance Loan Budget

    Convenient for Homeowners planning to refinance home loans of S$300,000 and above

  • Steep Total Mortgage Rates

    Total loan costs are more expensive when compared to other banks

ALL DETAILS

Loan Features
  • Low first-year interest rates, substantially higher rates in following years
  • Minimum principal loan: $300,000
  • Frequent Refinancing

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