1.51%
p.a.
1M SORA
- Year 2
- 1.51%
- Year 3
- 1.66%
- Lock-in
- 2 years
- Min. loan
- $3,000,000
Compare current refinancing packages, switching costs and the right timing for your next mortgage review.
Compare current refinancing packages from participating banks. Rates are indicative and subject to change. Final pricing, eligibility and approval remain subject to each bank’s assessment and prevailing terms.
Rates shown are indicative and may change without notice. Final eligibility, pricing and terms are subject to the bank’s assessment.
Reviewing your mortgage does not automatically mean you should switch. It helps you assess whether your current package still suits your repayment needs, property plans and financing goals.
Start reviewing before your lock-in period expires so you have time to compare repricing and refinancing options.
Check your upcoming pricing tier against current market alternatives before the new rate takes effect.
Plans to sell, make a partial repayment or change your holding period can affect which package features matter most.
Assess whether your repayment remains sustainable without extending the loan tenure simply to reduce the monthly instalment.
A lower headline rate only matters if the potential savings remain worthwhile after switching costs and your expected holding period are taken into account.
Compare your current and proposed loans using the same outstanding balance and remaining tenure for a meaningful comparison.
Look beyond the first month’s instalment and compare the interest payable over the period you realistically expect to keep the package.
Include legal fees, valuation charges and other refinancing costs that may not be fully covered by the new package.
Check your lock-in period, redemption terms, notice requirements and any clawback of legal subsidies or cash rebates.
Review what your existing bank can offer, then compare it against refinancing packages available from other lenders.
Repricing means switching to another home loan package with your existing bank. The process is usually simpler and may involve lower switching costs, but your choices are limited to that bank’s available packages and may not always be the most competitive in the market.
Refinancing transfers your outstanding home loan to another lender, giving you access to a wider range of packages. Legal work, valuation requirements, switching costs and existing loan conditions should be considered before proceeding.
Start your review early enough to compare your options, manage contractual requirements and allow sufficient time for the switch to be completed.
Check your lock-in expiry date, current pricing schedule, redemption terms and any applicable notice periods.
Obtain an offer from your existing bank and compare it with refinancing proposals from other banks on a like-for-like basis.
Consider interest rates, monthly repayments, legal fees, valuation costs, incentives, clawbacks and your expected holding period.
Allow sufficient time for credit assessment, documentation, legal work, loan redemption and disbursement before the refinancing takes effect.
Understand the key considerations before repricing or refinancing your Singapore home loan.
Repricing means switching to another mortgage package with your existing bank, while refinancing means transferring your outstanding home loan to another bank.
Repricing is usually simpler and may involve fewer administrative or legal costs. Refinancing gives you access to a wider range of lenders and packages, but additional switching costs and legal work may apply.
It is generally sensible to start reviewing your mortgage several months before your lock-in period or fixed-rate period ends.
This gives you time to compare packages, consider repricing offers and allow for legal and administrative processing before your current pricing changes.
Yes, but early redemption charges or other contractual costs may apply.
Before refinancing, compare the potential savings against any penalties, clawbacks and switching costs. In some cases, the new loan can be arranged in advance and completed closer to the end of the lock-in period.
Common costs can include legal fees, valuation fees, administrative charges, early redemption penalties and any clawback of subsidies or cash rebates.
Some banks may provide legal subsidies or cash rebates for refinancing, but these usually come with their own terms and clawback conditions.
A clawback may require you to repay legal subsidies, cash rebates or other incentives if the loan is redeemed within a specified period.
The clawback period can differ from your mortgage lock-in period, so both should be reviewed separately.
Not necessarily.
A lower interest rate may reduce borrowing costs, but the actual benefit depends on legal fees, valuation costs, penalties, clawbacks and how long you expect to keep the new package.
The better comparison is usually the total cost over your expected holding period.
Not always.
Repricing may involve lower switching costs because the loan remains with the same bank, but the available rate or package may not be as competitive as offers from other lenders.
It is useful to compare both options before deciding.
A clawback may require you to repay legal subsidies, cash rebates or other incentives if the loan is redeemed within a specified period.
The clawback period can differ from your mortgage lock-in period, so both should be reviewed separately.
Potentially, subject to the new bank’s approval and applicable regulatory requirements.
Extending the tenure may reduce your monthly instalment, but it can increase the total interest paid over the life of the loan.
For a fair comparison, it is useful to first compare the existing and proposed packages using the same remaining tenure.
Potentially, yes.
A partial repayment can reduce the outstanding principal before refinancing, but you should first check whether your existing loan has restrictions, notice requirements or early repayment penalties.
CPF usage, where applicable, is also subject to prevailing CPF housing rules.
The bank will generally review factors such as your income, existing debt obligations, credit profile, property type, outstanding loan balance, valuation, age and remaining loan tenure.
Final approval, loan quantum and pricing remain subject to the bank’s credit assessment and prevailing lending criteria.
Compare your existing loan against a proposed package using the same or an adjusted loan tenure to understand the impact on monthly repayments, interest costs and overall savings.