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I WANT TO REFINANCE
I WANT TO CASH-OUT REFINANCE
Featured IN
Updated April 22, 2024
Singapore’s 1st
Loan Marketplace
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.
| Bank | Scheme | Lock In Period | 1st Yr Interest | 2nd Yr | 3rd Yr | 4th Yr | |
|---|---|---|---|---|---|---|---|
| Promotion | 2 Year Fixed | 2 years | 2.90% | 2.90% | 4.41% | 4.66% | |
| Promotion | 1 Year Fixed | 2 years | 2.95% | 4.31% | 4.36% | 4.71% | |
| Promotion | 2 Year Fixed | 2 years | 2.95% | 2.95% | 4.41% | 4.66% | |
| Promotion | 2 Year Fixed | 2 years | 3.00% | 3.00% | 4.41% | 4.66% | |
| Promotion | 1 Year Fixed | 2 years | 3.05% | 4.31% | 4.36% | 4.71% | |
| Promotion | 3 Year Fixed | 3 years | 3.05% | 3.05% | 3.05% | 4.66% | |
| Promotion | 2 Year Fixed | 2 years | 3.10% | 3.10% | 4.41% | 4.66% | |
| Promotion | 2 Year Fixed | 2 years | 3.15% | 3.15% | 4.66% | 4.66% | |
| Promotion | 2 Year Fixed | 2 years | 3.25% | 3.25% | 4.66% | 4.66% | |
| Promotion | 3 Year Fixed | 3 years | 3.30% | 3.30% | 3.30% | 4.66% |
| Bank | Scheme | Lock In Period | 1st Yr Interest | 2nd Yr | 3rd Yr | 4th Yr | |
|---|---|---|---|---|---|---|---|
| Promotion | 3-Month SORA | 2 years | 3.96% | 3.96% | 4.66% | 4.66% | |
| Promotion | 3-Month SORA (Limited Promo) | 0 year | 4.01% | 4.01% | 4.01% | 4.01% | |
| Promotion | 3-Month SORA (Priority Banking) | 0 year | 4.06% | 4.06% | 4.06% | 4.06% | |
| Promotion | 3-Month SORA (Priority Banking) | 0 year | 4.11% | 4.11% | 4.16% | 4.16% | |
| Promotion | 3-Month SORA | 2 years | 4.26% | 4.26% | 4.41% | 4.66% | |
| Promotion | 3-Month SORA | 2 years | 4.31% | 4.00% | 4.46% | 4.66% | |
| Promotion | 3-Month SORA (Priority Banking) | 0 year | 4.31% | 4.31% | 4.31% | 4.46% | |
| Promotion | 1-Month SORA | 2 years | 4.36% | 4.36% | 4.81% | 4.81% | |
| Promotion | 3-Month SORA | 2 years | 4.36% | 4.36% | 4.46% | 4.66% | |
| Promotion | 3-Month SORA | 3 years | 4.41% | 4.41% | 4.41% | 4.66% |
*Today's Mortgage Rates - 21 April 2024
| Bank | Scheme | Lock In Period | 1st Yr Interest | 2nd Yr | 3rd Yr | 4th Yr | |
|---|---|---|---|---|---|---|---|
| Promotion | 2 Year Fixed | 2 years | 2.90% | 2.90% | 4.41% | 4.66% | |
| Promotion | 1 Year Fixed | 2 years | 2.95% | 4.31% | 4.36% | 4.71% | |
| Promotion | 2 Year Fixed | 2 years | 2.95% | 2.95% | 4.41% | 4.66% | |
| Promotion | 2 Year Fixed | 2 years | 3.00% | 3.00% | 4.41% | 4.66% | |
| Promotion | 1 Year Fixed | 2 years | 3.05% | 4.31% | 4.36% | 4.71% | |
| Promotion | 3 Year Fixed | 3 years | 3.05% | 3.05% | 3.05% | 4.66% | |
| Promotion | 2 Year Fixed | 2 years | 3.10% | 3.10% | 4.41% | 4.66% | |
| Promotion | 2 Year Fixed | 2 years | 3.15% | 3.15% | 4.66% | 4.66% | |
| Promotion | 2 Year Fixed | 2 years | 3.25% | 3.25% | 4.66% | 4.66% | |
| Promotion | 3 Year Fixed | 3 years | 3.30% | 3.30% | 3.30% | 4.66% |
| Bank | Scheme | Lock In Period | 1st Yr Interest | 2nd Yr | 3rd Yr | 4th Yr | |
|---|---|---|---|---|---|---|---|
| Promotion | 3-Month SORA | 2 years | 3.96% | 3.96% | 4.66% | 4.66% | |
| Promotion | 3-Month SORA (Limited Promo) | 0 year | 4.01% | 4.01% | 4.01% | 4.01% | |
| Promotion | 3-Month SORA (Limited Promo) | 0 year | 4.04% | 4.04% | 4.04% | 4.04% | |
| Promotion | 3-Month SORA (Limited Promo) | 0 year | 4.04% | 4.04% | 4.04% | 4.16% | |
| Promotion | 3-Month SORA | 0 year | 4.06% | 4.06% | 4.06% | 4.06% | |
| Promotion | 3-Month SORA (Priority Banking) | 0 year | 4.06% | 4.06% | 4.06% | 4.06% | |
| Promotion | 1-Month SORA | 0 year | 4.11% | 4.00% | 4.11% | 4.11% | |
| Promotion | 3-Month SORA | 0 year | 4.11% | 4.11% | 4.11% | 4.11% | |
| Promotion | 3-Month SORA | 0 year | 4.11% | 4.11% | 4.16% | 4.16% | |
| Promotion | 3-Month SORA (Priority Banking) | 0 year | 4.11% | 4.11% | 4.16% | 4.16% |
*Today's Mortgage Rates - 21 April 2024
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.
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.
There are several types of common home loan promotions offered by Singapore banks:
While home loan promotions can offer nice savings, buyers should consider:
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.
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.
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.
Attending shows like the annual Singapore Property Show can let you discover promotions weeks before the general public.
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.
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.
Most home loan promotions are only valid for 6-8 weeks but some lenders may extend promotions for 1-2 months.
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.
Most banks set minimum loan sizes between $200K- $500K. Promotions generally require borrowers to be Singapore citizens or PRs with good credit score.
Admin, legal and valuation fees still apply with promotional loans. Some banks occasionally offer fee waivers as an additional incentive.
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.
