Best Mortgage rates in
Singapore 2025

We compare the latest mortgage offers from all banks, and handle the entire application process - all for free

Property Type

Building Status

Loan Amount

Loan Tenure

Yrs

Property Type

Building Status

Loan Amount

Loan Tenure

Yrs

Property Type

Building Status

Loan Amount

Loan Tenure

Yrs

Our recommendations

Loans with the lowest interest rate based on your search

Lowest interest

Fixed

Rate Type

2 years

Lock-in Period

S$13,308

Instalment Year 1

2.40%

Interest Rate Year 1

Rates and Instalments

Year 1	2.40%		S$ 13,308 /mo
Year 2	2.40%		S$ 13,308 /mo
Year 3	3.41%	3M SORA + 0.55%	S$ 14,759 /mo
Year 4	3.41%	3M SORA + 0.55%	S$ 14,759 /mo
Thereafter	3.86%	3M SORA + 1.00%	S$ 15,382 /mo

Package Benefits

Free package conversion

Lowest interest

Fixed

Rate Type

2 years

Lock-in Period

S$13,308

Instalment Year 1

2.40%

Interest Rate Year 1

Rates and Instalments

Year 1	2.40%		S$ 13,308 /mo
Year 2	2.40%		S$ 13,308 /mo
Year 3	4.24%	1M SORA + 1.50%	S$ 16,016 /mo
Thereafter	4.24%	1M SORA + 1.50%	S$ 16,016 /mo

Package Benefits

Partial Pre-payment
Waiver Due to Sales
Free package conversion

Lowest interest

Fixed

Rate Type

2 years

Lock-in Period

S$13,338

Instalment Year 1

2.42%

Interest Rate Year 1

Rates and Instalments

Year 1	2.42%		S$ 13,338 /mo
Year 2	2.42%		S$ 13,338 /mo
Year 3	3.41%	3M SORA + 0.55%	S$ 14,761 /mo
Year 4	3.41%	3M SORA + 0.55%	S$ 14,761 /mo
Thereafter	3.86%	3M SORA + 1.00%	S$ 15,385 /mo

Package Benefits

Free package conversion

Best rates guaranteed!

Should you find a more competitive price offered by another provider, our Lead Pricing Officer is happy to discuss a price match.

We partner with all major banks in Singapore to bring you the best mortgage deals

We found 100 other home loans for you

These rates are accurate as of 10 February 2025

Rate Type	Fixed
Lock-in Period	2 years

Interest Rate Year 1	2.42%
Instalment Year 1	S$ 13,338 /mo
Interest Rate Year 1	2.42%

Rate Type	Fixed
Lock-in Period	2 years

Interest Rate Year 1	2.42%
Instalment Year 1	S$ 13,338 /mo
Interest Rate Year 1	2.42%

Rate Type	Fixed
Lock-in Period	2 years

Interest Rate Year 1	2.42%
Instalment Year 1	S$ 13,338 /mo
Interest Rate Year 1	2.42%

Rate Type	Fixed
Lock-in Period	2 years

Interest Rate Year 1	2.44%
Instalment Year 1	S$ 13,368 /mo
Interest Rate Year 1	2.44%

Rate Type	Fixed
Lock-in Period	2 years

Interest Rate Year 1	2.44%
Instalment Year 1	S$ 13,368 /mo
Interest Rate Year 1	2.44%

Rate Type	Fixed
Lock-in Period	2 years

Interest Rate Year 1	2.48%
Instalment Year 1	S$ 13,428 /mo
Interest Rate Year 1	2.48%

Rate Type	Fixed
Lock-in Period	3 years

Interest Rate Year 1	2.50%
Instalment Year 1	S$ 13,459 /mo
Interest Rate Year 1	2.50%

Rate Type	Fixed
Lock-in Period	3 years

Interest Rate Year 1	2.50%
Instalment Year 1	S$ 13,459 /mo
Interest Rate Year 1	2.50%

Rate Type	Fixed
Lock-in Period	2 years

Interest Rate Year 1	2.50%
Instalment Year 1	S$ 13,459 /mo
Interest Rate Year 1	2.50%

Rate Type	Fixed
Lock-in Period	3 years

Interest Rate Year 1	2.50%
Instalment Year 1	S$ 13,459 /mo
Interest Rate Year 1	2.50%

Getting an HDB loan or bank loan for your HDB flat

So you've decided to buy an HDB flat - the next order of business is to plan how you're going to pay for it. Although public housing is generally the most affordable option in Singapore, it's still expected to set you back by a few hundred grand. That's where home loans come in, to help you finance your new home.

The good news is that for HDB properties, you can choose either an HDB loan (also called HDB Concessionary Housing Loan) or a bank loan. Here's an overview of their key differences.

HDB housing loan interest rates, eligibility and how to apply

As its name suggests, an HDB loan is a housing loan taken directly from the Housing and Development Board (HDB). Currently, the HDB loan interest rate is 2.6%. Although technically a floating rate pegged at +0.10% above the CPF Ordinary Account (OA) interest rates, HDB loan interest rates have been stable for over a decade.

To apply for an HDB loan, you must first obtain an HDB Loan Eligibility Letter (HLE), which will be valid for six months. The HDB HLE letter will indicate how much you can borrow - for an estimate, you can use the HDB loan calculator. Generally, at least one buyer must be a Singapore Citizen and your family's monthly household income must not exceed $14,000. You may refer to HDB's website for more information on the HDB loan eligibility criteria on citizenship, income ceiling and property ownership.

Bank home loan interest rates, eligibility and how to apply

Another option is to take a home loan from a bank. Unlike HDB loan interest rates which are quite stable, bank loan interest rates fluctuate and move in tandem with the market. While this may sound scary, bank interest rates have actually been lower than HDB's for the past decade, consistently hovering under 2%.

There are two main types of bank loan packages: fixed rate and floating rate. For fixed rate packages, you will enjoy the same interest rate (and hence, monthly instalments) throughout the term of your contract. For floating rate packages, the interest rate is pegged to another index, such as the Singapore Interbank Offered Rate (SIBOR), or the bank's fixed deposit or board rates.

Frequently Asked Questions

This decision depends largely on your personal financial situation, risk appetite and more. The Loan-to-Value (LTV) limit - which restricts how much you can borrow, based on the property's selling price or valuation - is capped at 90% for HDB loans and 75% for bank loans (first property). As such, if you have limited savings, an HDB loan may be more manageable. (Note: For HDB properties, the Mortgage Servicing Ratio (MSR) and Total Debt Servicing Ratio (TDSR) also apply.) That said, many homeowners who can afford the downpayment choose to go for bank loans because of the savings that come with lower interest rates. Assess your options in a chat with our Mortgage Experts.
HDB flats can only be mortgaged to finance the purchase of the flat itself - i.e. with home loans.
Once your flat is fully paid for, you are not allowed to use your HDB flat as collateral to secure any other loan (also known as home equity loans, or cash-out refinancing.)
A Build-to-Order (BTO) flat is a new flat bought directly from the Housing and Development Board (HDB). A HDB resale flat is bought from the open market, from previous owners of new flats.
You can use the CPF Housing Limits Calculator to estimate how much CPF you can use for your property purchase, and when you will reach the maximum amount of CPF that you can use.
TThe repayment period for an HDB housing loan is capped at 25 years. For bank loans on HDB flats, the maximum tenure is 30 years.
The best home loan should be customised around your needs, goals, and risk appetite. Finding the right home loan isn't easy, especially when there's so many options in the market. That's why you should talk to our Mortgage Experts, they can help you find a home loan that's just right for you.
We partner with all major banks to bring you the best home loan packages in Singapore. From sharing customised recommendations to processing your home loan application, our Mortgage Experts will be with you every step of the way.
We receive a small referral fee from the bank when you have accepted the loan. Our team partners with all major banks which means you get access to the lowest interest rates, limited-time bank promotions and unbiased advice.

Learn more about home financing

Will Singapore Interest Rates for Home Loans Go Down in 2025?

Article03 Feb 2025

Guide to Total Debt Servicing Ratio in Singapore: How to Calculate TDSR and More

Article16 Dec 2024

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Best HDB loan in Singapore 2025

Getting an HDB loan for your HDB flat

Although public housing is generally the most affordable option in Singapore, it's still expected to set you back by a few hundred thousand. This is where home loans come in, to assist you in financing your new home.
The good news is that for HDB properties, you can choose either an HDB loan (also called HDB Concessionary Housing Loan) or a bank loan for HDB. Here's an overview of their key differences.

Why consider an HDB housing loan for your HDB flat?

Stable interest rates

As its name suggests, an HDB loan is a housing loan taken directly from the Housing and Development Board. Currently, the HDB loan interest rate is 2.60%. Although technically a floating rate pegged at +0.10% above the CPF Ordinary Account (OA) interest rates, HDB loan interest rates have been stable for over a decade.

No lock-in period

A lock-in period is the length of time when you are “locked in” with your mortgage lender, and the interest rate will not change within the specified time frame.
If you intend to end the agreement early, it will most likely cause you to incur some charges. But you can put your heart at ease as there is no lock-in period for HDB housing loans.
Having no lock-in period means that you will not receive any penalty should you wish to pay off your loans early. You can also take advantage of a better mortgage loan package, with a lower interest rate, by refinancing your mortgage loan with a private bank if you wish.

HDB Flat Eligibility (HFE) Letter

An HFE letter will inform you if you are eligible for a flat purchase, CPF housing grants, or a HDB housing loan. It's a three-in-one application. If you intend to purchase an HDB resale flat, you will need a valid HFE letter, Intent to Buy (ITB), and HLE letter. Note that it takes about 21 working days to process your HFE letter application. Your HFE letter, like the HLE letter, will provide an evaluation of your eligibility for an HDB loan as well as the maximum loan amount you can get. Through the HDB Flat Portal, you may submit an application if you qualify for an HDB loan. You can choose to finance your HDB flat with an HDB loan or a bank loan.

HDB loan isn't your only choice

Are you only restricted to financing your HDB with an HDB housing loan? It is a common misconception that many have.
Fortunately for you, you have the option of getting a private bank loan as well. The same goes for buyers of Executive Condominiums (ECs), which are also subsidised by the Singapore government.

HDB loan interest rate	Fixed at CPF OA + 0.1%
Bank loan tenure	Up to 30 years
HDB loan tenure	Up to 25 years
Bank loan Loan-to-Value (LTV) ratio	Up to 75%
HDB loan LTV ratio	$375,000
Bank loan down payment ratio	≥ 25%
HDB loan down payment ratio	≥ 20%

Bank loans for HDB

Fluctuating interest rates for bank loans

Unlike HDB housing loan interest rates, bank loan interest rates fluctuate and move in tandem with the market.
The volatility of bank loan interest rates may be a good thing for you. Harnessing the low interest rates when it drops means greater savings, making your home loan more affordable.
You can compare bank loans and be alerted of the best daily interest rates on the market on PropertyGuru Finance. Our team of dedicated Mortgage Experts can also help you to find the right home loan for you

Bank loan requires a higher down payment

Bank loans need a much larger down payment of 25%. At least 5% must be paid in cash, with the remaining 20% coming from housing grants or your CPF.

Refinancing to bank loans

Decided to refinance? You are able to refinance to a bank loan from an HDB loan. However, do note that you are unable to refinance back to an HDB loan from a bank loan. Hence, it is important to take note of such limitations before switching.
On the flip side, if you have refinanced to a bank loan, you can actually reprice to a new package instead.
Not sure what repricing and refinancing mean? Refinancing means switching to an entirely new bank and loan package from your current bank. Repricing on the other hand means sticking to the same bank but with a different loan package.
There are numerous advantages to refinancing! If you would like to refinance, you may also use our SmartRefi tool which is completely free of charge. SmartRefi notifies you of the best time to refinance so you won't lose out on the best interest rates.
Nevertheless, if you are feeling stuck or lost, you can always consult our Mortgage Experts who are more than happy to assist you.

Bank home loan eligibility and how to apply

To find out more about the most competitive home loan packages, get in touch with our Mortgage Experts. We can also help you process your bank loan application.
For bank loans, there are fewer hoops to jump through: the main consideration for eligibility is a good credit rating, and there is no income ceiling or restriction on citizenship.
There are two main types of bank loan packages: fixed rate and floating rate. For fixed-rate packages, you will enjoy the same interest rate and monthly instalments throughout the term of your contract.
For floating rate packages, the interest rate is pegged to another index, such as the Singapore Interbank Offered Rate (SIBOR), or the bank's fixed deposit or board rates.

HDB loan or bank loan

This decision depends largely on your personal financial situation, risk appetite and more. The LTV limit - which restricts how much you can borrow, based on the property's selling price or valuation - is capped at 80% for HDB loans and 75% for bank loans (first property).
As such, if you have limited savings, an HDB loan may be more manageable. (Note: For HDB properties, the MSR and TDSR also apply. That said, many homeowners who can afford the down payment choose to go for bank loans because of the savings that come with lower interest rates.) Assess your options in a chat with our Mortgage Experts.

Best Mortgage rates in Singapore 2025

Our recommendations

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We partner with all major banks in Singapore to bring you the best mortgage deals

We found 100 other home loans for you

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DBS 2 Year Fixed Package

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Getting an HDB loan or bank loan for your HDB flat

HDB housing loan interest rates, eligibility and how to apply

Bank home loan interest rates, eligibility and how to apply

Frequently Asked Questions

Should I take a HDB or bank loan?

Can I mortgage my HDB?

What is the difference between a HDB BTO and resale flat?

How much CPF can I use for housing?

How long is a HDB loan?

What is the best home loan in Singapore?

Why should I choose PropertyGuru Finance instead of a bank?

How does PropertyGuru Finance get compensated?

Learn more about home financing

Will Singapore Interest Rates for Home Loans Go Down in 2025?

Guide to Total Debt Servicing Ratio in Singapore: How to Calculate TDSR and More

Can I Use CPF to Buy Condo or HDB Flat in Singapore? 4 Reasons Not to

6 Ways to Utilise Your Year-end Bonus Towards Your Home Loan in Singapore

Rated by our customers

Best HDB loan in Singapore 2025

Getting an HDB loan for your HDB flat

Why consider an HDB housing loan for your HDB flat?

Stable interest rates

No lock-in period

HDB Flat Eligibility (HFE) Letter

HDB loan isn't your only choice

Bank loans for HDB

Fluctuating interest rates for bank loans

Bank loan requires a higher down payment

Refinancing to bank loans

Bank home loan eligibility and how to apply

HDB loan or bank loan

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Singapore 2025

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