Compare the Latest
Home Loan
Promotion Rates
in Singapore
(June 2024)

Customers use ROSHI to compare
rates, apply online & settle faster.

I WANT TO REFINANCE
  • Cash vouchers up to $3,300
  • Discounted legal fees
I WANT TO CASH-OUT REFINANCE
  • Cash rewards up to $3,300
  • Zero upfront fees
*Get up to $3,300 back in cash

Updated June 19, 2024

Singapore’s 1st
Loan Marketplace

Apply Now

Average 1st Year Home Loan Promotional Interest Rates (2024)

Average 1st Year Home Loan Promotional Interest Rates (2024)

Match Promotion to Finances

Check if promotion rate and fees fit your financial capabilities over the long run. Opt for fixed rates if you require stability or variable rates if you can accommodate fluctuations. Understand all additional costs like processing fees too.

Compare Total Interest Payable
Look beyond advertised rates to calculate total interest payable over a standard 25-year loan tenure. An offer with a lower rate but huge processing fee may not necessarily translate to overall. Calculate numbers taking your repayment ability into account.

Check Lender Reputation & Requirements
Even attractive promotions must align with a lender's loan approval criteria and your eligibility. Scrutinise their reputation and reviews to determine service quality as well. Analyse the fine print and commitments required to avoid rejection despite marketing claims.

Stay Alert for Time-Sensitive Deals
Home loan promotions often have strict time periods. Certain complimentary perks may only apply for the first 500 applicants. Plan your application strategy upfront to avoid losing out on time-bound savings and incentives.

Lowest Home Loan Promotional Rates
for HDB
(2024)

  • Fixed Rates
  • Floating Rates
Bank Scheme Lock In Period 1st Yr Interest 2nd Yr 3rd Yr 4th Yr
Promotion 2 Year Fixed (Limited Promo) 2 years 2.80% 2.80% 4.40% 4.65%
Promotion 2 Year Fixed (Limited Promo) 2 years 2.83% 2.83% 4.40% 4.65%
Promotion 2 Year Fixed (Flexi) 2 years 2.85% 2.85% 4.35% 4.65%
Promotion 2 Year Fixed (Limited Promo) 2 years 2.85% 2.85% 4.40% 4.65%
Promotion 3 Year Fixed 3 years 2.88% 2.88% 2.88% 4.65%
Promotion 2 Year Fixed 2 years 2.88% 2.88% 4.40% 4.65%
Promotion 2 Year Fixed (Flexi) 2 years 2.88% 2.88% 4.35% 4.65%
Promotion 3 Year Fixed 3 years 2.90% 3.00% 2.90% 4.65%
Promotion 2 Year Fixed (Flexi) 2 years 2.90% 2.90% 4.35% 4.65%
Promotion 2 Year Fixed 2 years 2.90% 2.90% 4.40% 4.65%
Bank Scheme Lock In Period 1st Yr Interest 2nd Yr 3rd Yr 4th Yr
Promotion 1-Month SORA 2 years 3.79% 3.99% 4.09% 4.51%
Promotion 1-Month SORA 2 years 3.84% 4.04% 4.14% 4.51%
Promotion 3-Month SORA (Limited Promo) 0 year 4.00% 4.00% 4.00% 4.00%
Promotion 1-Month SORA 2 years 4.01% 4.01% 4.11% 4.51%
Promotion 3-Month SORA (Limited Promo) 2 years 4.10% 4.00% 4.15% 4.60%
Promotion 3-Month SORA 2 years 4.25% 4.25% 4.40% 4.65%
Promotion 1-Month SORA 2 years 4.26% 4.26% 4.36% 4.51%
Promotion 3-Month SORA 2 years 4.30% 4.00% 4.45% 4.65%
Promotion 3-Month SORA 2 years 4.35% 4.35% 4.45% 4.65%
Promotion 3-Month SORA 2 years 4.65% 4.65% 4.65% 4.65%

*Today's Mortgage Rates - 18 June 2024

Lowest Home Loan Promotional Rates
for Private Properties
(2024)

  • Fixed Rates
  • Floating Rates
Bank Scheme Lock In Period 1st Yr Interest 2nd Yr 3rd Yr 4th Yr
Promotion 2 Year Fixed (Limited Promo) 2 years 2.80% 2.80% 4.40% 4.65%
Promotion 2 Year Fixed (Limited Promo) 2 years 2.83% 2.83% 4.40% 4.65%
Promotion 2 Year Fixed (Limited Promo) 2 years 2.83% 2.83% 4.15% 4.65%
Promotion 2 Year Fixed (Limited Promo) 2 years 2.85% 2.85% 4.15% 4.65%
Promotion 2 Year Fixed (Flexi) 2 years 2.85% 2.85% 4.35% 4.65%
Promotion 2 Year Fixed (Limited Promo) 2 years 2.85% 2.85% 4.40% 4.65%
Promotion 3 Year Fixed 3 years 2.88% 2.88% 2.88% 4.65%
Promotion 2 Year Fixed 2 years 2.88% 2.88% 4.40% 4.65%
Promotion 2 Year Fixed (Flexi) 2 years 2.88% 2.88% 4.35% 4.65%
Promotion 3 Year Fixed 3 years 2.90% 2.90% 2.90% 4.65%
Bank Scheme Lock In Period 1st Yr Interest 2nd Yr 3rd Yr 4th Yr
Promotion 1-Month SORA 0 year 3.79% 4.00% 4.09% 4.51%
Promotion 1-Month SORA 2 years 3.79% 3.99% 4.09% 4.51%
Promotion 1-Month SORA 2 years 3.84% 4.04% 4.14% 4.51%
Promotion 1-Month SORA 0 year 3.84% 4.00% 4.14% 4.51%
Promotion 3-Month SORA (Limited Promo) 0 year 4.00% 4.00% 4.00% 4.00%
Promotion 1-Month SORA 2 years 4.01% 4.01% 4.11% 4.51%
Promotion 1-Month SORA 0 year 4.01% 4.01% 4.11% 4.51%
Promotion 3-Month SORA (Limited Promo) 0 year 4.03% 4.03% 4.03% 4.03%
Promotion 3-Month SORA (Limited Promo) 0 year 4.03% 4.03% 4.03% 4.15%
Promotion 3-Month SORA 0 year 4.03% 4.03% 4.03% 4.15%

*Today's Mortgage Rates - 18 June 2024

Considerations

When evaluating home loan promotions in Singapore, compare interest rates and processing fees to existing options in the market. Calculate the total repayment costs over loan tenure and ensure your finances are sufficient. While promotional incentives attract attention, carefully read the fine print on validity dates, eligibility criteria, early redemption penalties, and other terms that could significantly impact overall savings. Approach lending with transparency and caution by crunching numbers appropriate to your unique financial situation. Focus on a home loan promotion which provides the best overall value.

Our Refinancing Resources

  • Home Loan Promotions Basics

  • Tips and Hints

  • FAQ

Understanding Home Loan Promotions in Singapore

Getting a home loan can be a complicated process. On top of comparing different banks and mortgage packages,
homebuyers in Singapore also need to consider the range of promotions on offer – which often come with tricky fine
print.

Types of Home Loan Promotions

There are several types of common home loan promotions offered by Singapore banks:

Interest Rates Discounts
Banks may offer discounted interest rates below their usual pricing for a limited period. The rates are often fixed for 1-3 years.
Cash Rebates
Some banks provide cash back of a few thousand dollars to home buyers who take out a mortgage with them, to offset other property purchase costs.
Fee Waivers
Administrative fees, legal fees and valuation fees associated with getting a home loan may be offered free as part of promotional packages.
Quick Processing
Fast-track processing and approval times may feature in promotions too.
Key Considerations

While home loan promotions can offer nice savings, buyers should consider:

Expiry Dates
The offers are usually only valid for new applications submitted before a set cutoff time.
Lock-In Periods
Interest rates and terms may only apply for the initial 1-5 years before reverting to normal rates.
Qualifying Criteria
Promotions tend to require a minimum loan amount and come with other eligibility rules.

By understanding the typical features of home loan promotions in Singapore and reading the fine print carefully, home buyers can find offers which provide them with real, long-term savings on their mortgage.

Check Bank Websites Frequently

Set calendar reminders to check major bank loan pages for new deals every 1-2 months. Signing up for email alerts can also notify you of the latest promotions.

Speak to a Mortgage Broker

Brokers have insight into both widely advertised and more exclusive home loan promotions not accessible to the public. A good mortgage broker matches your profile to the best options across different lenders.

Look Out for Property Show Discounts

Attending shows like the annual Singapore Property Show can let you discover promotions weeks before the general public.

Follow Personal Finance Bloggers

Well-connected finance bloggers frequently receive inside tips on upcoming home loan promotions from their banking contacts. Stay on top of exclusive deals by joining newsletters or by following them on social media.

Time Applications Strategically

Banks tend to offer the most attractive upfront discounts and rates at the start of each quarter to hit sales targets. Where flexible with your mortgage application, apply right at the beginning of Q1, Q2, Q3 or Q4.

Getting alerted to promotions early and understanding when banks compete aggressively for applications gives buyers the best chance of securing exclusive introductory discounts and long-term savings.

How long do home loan promotions usually last?

Most home loan promotions are only valid for 6-8 weeks but some lenders may extend promotions for 1-2 months.

Can I switch banks after the promotional period ends?

Yes, you can refinance to another lender after your locked-in period ends. However, your interest rate would then be subject to the new lender’s current rates.

Do I need to meet any criteria to qualify for promotions?

Most banks set minimum loan sizes between $200K- $500K. Promotions generally require borrowers to be Singapore citizens or PRs with good credit score.

What fees apply when taking up a promotional home loan?

Admin, legal and valuation fees still apply with promotional loans. Some banks occasionally offer fee waivers as an additional incentive.

How much interest can I save with a home loan promotion?

Typical savings range from 0.2% to 1.5% below standard fixed rates over the introductory period. This means at least $5K to $30K over 1-3 years.

Don’t be a fool
馬鹿なことはやめろ

Review Mortgages from
All Major Lenders