Compare home loan rates from all the top banks in Singapore
At SingSaver, we partner with Redbrick Mortgage Advisory to help you get free, tailored home loan advice from professional and experienced mortgage specialists. An advisor comes back with the packages you qualify for, and tells you if staying with your current bank is the better move. The banks pay the advisory fee, not you.
Redbrick asks about your property, your loan, and how to reach you. About 2 minutes, and comparing doesn't affect your credit score.
Quick calculators
New loan: monthly repayment
/ month
An estimate, not an approval.
Affordability (TDSR / MSR)
A clearly labelled estimate, never an eligibility decision.
Refinancing savings
saved / month
Your current rate already beats today's best here. Repricing with your existing bank may suit you better, and an advisor will say so.
Your review window opens about 5 months before lock-in ends, the point where switching still beats waiting. An estimate, not an approval.
Get a free, no obligation consultation from professional and experienced mortgage specialists
Redbrick Mortgage Advisory compares home loans from top financial institutions and comes back with the packages you qualify for — including whether staying with your current bank is the better move. The banks pay the advisory fee, not you.
Lenders on Redbrick’s panel
Panel as published by Redbrick Mortgage Advisory. Which lenders you are eligible for depends on your property, income and existing commitments, and is confirmed by your advisor. SingSaver is not a lender.
What actually matters, beyond the headline rate
How it works
- 1 Tell Redbrick about your loan A few questions about the property and the loan, plus how to reach you. About 2 minutes
- 2 Get your eligible packages Redbrick comes back with the latest and competitive packages, with rates, instalments and lock-in side by side. Same day
- 3 A Redbrick advisor handles the rest A professional and experienced mortgage specialist calls you within 1 business day, compares switching vs staying, and manages the bank submission end to end. 1 business day to first call
Compare your home loan options
Tell Redbrick about your loan and a professional and experienced mortgage specialist comes back with the latest and competitive packages, then talks you through them. Free, no obligation, and they'll tell you if staying with your current bank is the better move.
- The banks pay the advisory fee, never you
- No credit bureau check to get a comparison
- Advisors are experienced and handle the bank submission
The form asks about your property and loan, then how to reach you. About 2 minutes.
Compare rates with RedbrickThe form is operated by Redbrick Mortgage Advisory. Your details go directly to Redbrick under their Privacy Notice, SingSaver does not receive or store them.
Home loans in Singapore, explained
The rate is the part everyone shops on. Your borrowing limit, your lock-in and the cost of leaving early are the parts that decide what the loan is actually worth to you.
How much can I borrow for a home loan in Singapore?
Your loan is capped by whichever of three limits binds first — TDSR, MSR and LTV — and every one of them is assessed at a stress-test rate of 4.00% p.a., not the rate you will actually be charged.
| Rule | Limit | Applies to |
|---|---|---|
| TDSR | 55% of gross monthly income | Every property loan, counting all your other debt too |
| MSR | 30% of gross monthly income | HDB flats and ECs bought with a bank loan only |
| LTV | 75% of price or valuation, whichever is lower | A first housing loan. Lower limits apply beyond that |
| Stress-test floor | 4.00% p.a. | Every affordability assessment, whatever rate you are quoted |
The stress test is what catches most people out. A bank may quote you a rate near 1.50% and then test whether you could still afford the loan at 4.00%. Shopping for a lower rate does not raise your borrowing limit, because the limit was never calculated on the rate you were offered.
TDSR counts every monthly obligation, not just the mortgage — a car loan, a personal loan and the minimum payments on your cards all consume the same 55%. Clearing a small facility before you apply sometimes does more for your limit than any rate you could negotiate.
The LTV ceiling on HDB-granted loans was cut from 80% to 75% on 20 August 2024, bringing it in line with bank loans. Anyone working from older guidance will plan for a smaller deposit than they actually need.
Work it through with the affordability calculator → It applies all three rules and the 4.00% floor. It is an estimate, not an approval.
What does a home loan actually cost, beyond the advertised rate?
Four things decide the real cost, and only one of them is the number in the advertisement: the Year 1 rate, the monthly instalment, the lock-in period, and the total you will have paid by the time that lock-in ends.
Year 1 rate. The headline. It tells you what the first twelve months cost and nothing else. A package can lead the table in Year 1 and sit mid-table across the lock-in.
Monthly instalment. The number you actually feel. Two packages a few basis points apart can differ more in instalment than in rate, because tenure moves it further than the rate does.
Lock-in period. The commitment. Leaving during it typically costs around 1.5% of the amount you redeem. A package with no lock-in buys you the option to move the moment something better appears.
Total cost over the lock-in. The honest comparison, and the one a teaser rate is designed to obscure. It is the only figure that captures a rate that steps up in Year 2, a spread that widens in Year 4, or a reversion rate waiting at the end.
Beyond interest there are the transaction costs: conveyancing, valuation, and fire insurance, which is mandatory. For refinancing above S$400,000 the incoming bank may absorb legal and valuation fees in full, which is why the net cost of switching is often close to nothing. Where a bank has subsidised those fees or paid a cash rebate, expect a clawback clause requiring repayment if you leave the package early.
HDB concessionary loan or a bank loan?
An HDB concessionary loan has been fixed at 2.60% p.a. since 1999 and never moves. A bank loan is usually cheaper today but is repriced periodically — and the switch is close to one-way, because once you refinance an HDB loan to a bank you cannot move back.
| HDB concessionary loan | Bank loan | |
|---|---|---|
| Interest rate | 2.60% p.a., unchanged since 1999 | Fixed or floating, repriced at the end of each period |
| Rate certainty | Total, for the life of the loan | For the fixed period only, then it reverts |
| Loan-to-value | Up to 75%, cut from 80% on 20 Aug 2024 | Up to 75% on a first housing loan |
| Leaving early | No lock-in applies | Typically around 1.5% of the amount redeemed, within lock-in |
| Reversibility | Refinance away once and you cannot return | Reprice or refinance freely at each lock-in expiry |
The gap between 2.60% and a competitive bank rate is often small, and it is not fixed. Before moving, work the numbers over the whole period you expect to hold the loan rather than the first year of it — you are trading permanent certainty for a saving that may not persist.
What documents do I need to apply?
Two short lists, depending on whether you are buying or refinancing. You need none of them to get a comparison — they come into play once you choose a package and your advisor prepares the submission.
Buying a home
- NRIC or passport, for every borrower
- Latest 3 months’ payslips, or 2 years’ Notice of Assessment if self-employed
- CPF contribution history for the last 12 months
- Option to Purchase (OTP) or Sale & Purchase Agreement
- Latest statements for existing credit facilities, including other loans and cards
Refinancing an existing loan
- NRIC or passport, for every borrower
- Latest home loan statement showing your outstanding balance and current rate
- Latest 3 months’ payslips, or 2 years’ Notice of Assessment if self-employed
- CPF property withdrawal statement
- Tenancy agreement, if the property is rented out
Home loan terms worth knowing
The vocabulary a bank or advisor will use, in plain English.
- TDSR
- Total Debt Servicing Ratio. Caps every monthly debt repayment you have — mortgage, car loan, personal loan, credit card minimums — at 55% of gross monthly income.
- MSR
- Mortgage Servicing Ratio. Caps the home loan repayment alone at 30% of gross monthly income. Applies only to HDB flats and executive condominiums bought with a bank loan.
- LTV
- Loan-to-Value. The share of the property’s price or valuation, whichever is lower, that may be borrowed. Capped at 75% on a first housing loan.
- Stress-test floor
- The rate banks must use when assessing affordability, currently the MAS medium-term rate of 4.00% p.a. It is not the rate you pay.
- SORA
- Singapore Overnight Rate Average. A public, market-based benchmark published daily. Most floating home loans price off 3-month compounded SORA.
- Spread
- The fixed margin a bank adds on top of SORA. The spread is the part the bank controls, and it often steps up after the first few years.
- Board rate
- A bank’s own internal reference rate, set at its discretion rather than tracking a public benchmark. Less transparent than a SORA peg.
- Lock-in period
- The window during which repaying or refinancing early triggers a penalty, typically around 1.5% of the amount redeemed.
- Reversion rate
- The rate a package falls back to once its fixed or promotional period ends. Usually materially higher than the headline rate that sold it.
- Repricing
- Moving to a different package within your existing bank. Faster and lighter on paperwork than refinancing, typically around 4 to 5 weeks.
- Refinancing
- Moving the loan to a different bank, which redeems your existing loan and replaces it. Typically 8 to 10 weeks end to end.
- Clawback
- A condition requiring you to repay subsidies the bank gave you — legal or valuation fees, cash rebates — if you exit the package within a set period.
- BUC
- Building Under Construction. A property not yet completed, drawn down in stages against a progressive payment schedule rather than in one lump sum.
Frequently asked questions
Yes. When a loan is approved, the bank pays Redbrick a referral fee. You never pay SingSaver or Redbrick, and your rate is the same as going to the bank directly.
Yes. The comparison form asks for your name, mobile and email along with your loan details, because a professional and experienced Redbrick mortgage specialist puts the comparison together and comes back to you with it. Comparing is still free, carries no obligation, and involves no credit bureau check.
No. Any rate your advisor quotes is indicative and subject to bank approval. Your final rate depends on the bank’s assessment of your application.
A fixed rate locks your instalment for the fixed period. A floating rate tracks a reference rate (usually 3M SORA) plus a spread, so it moves with the market.
The period during which repaying or refinancing the loan early triggers a penalty, typically 1.5% of the amount redeemed.
Yes, though you cannot switch back to an HDB loan later. Compare total costs carefully before moving.
Banks apply the TDSR limit of 55% of gross monthly income, and MSR of 30% for HDB flats and ECs, tested at a 4.00% p.a. stress-test floor. LTV is capped at 75% for a first housing loan.
Then you’ll be told that directly. Your advisor shows what staying with your current bank looks like alongside any refinancing options, including cases where repricing with your existing bank is the better move.
A full refinance to a new bank typically takes 8 to 10 weeks end to end, since it involves a new valuation and a conveyancing lawyer. Repricing within your current bank is faster, around 4 to 5 weeks.
A professional and experienced Redbrick mortgage specialist confirms your numbers, gathers documents, submits to the bank you choose, and follows the application through to approval.
No. Seeing rates involves no credit check. A check happens only when you formally apply with a bank.
Any rate quoted to you is indicative and subject to bank approval. SingSaver is not a lender and does not provide financial advice. Redbrick Mortgage Advisory is the largest professional and experienced mortgage advisory that will assist with your application, and it operates the comparison form on this page. Details entered into that form are collected by Redbrick under their Privacy Notice, not by SingSaver. The information on this page is for educational and informational purposes only.
