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Bank Mortgage Rate Comparison — Singapore 2026
Mortgage rates are the single biggest variable in your monthly payment. A 0.30% difference on a $1M loan over 25 years is $42K in total interest. Here's how DBS, OCBC, UOB, and Standard Chartered stack up in 2026.
Answer: Fixed rates in 2026 range from 2.50–2.85% (2-year lock-in) across major banks. Floating (SORA-pegged) runs 2.20–2.50%. Best headline rates: SCB and OCBC. Best service: DBS. Lock-in penalty is 1.5% of outstanding loan. Always compare at least 3 banks — a mortgage broker can get you 0.05–0.10% better than walk-in.
Fixed Rate Packages (2026)
Indicative rates for 75% LTV, first property, completed units
| Bank | 2-Year Fixed | 3-Year Fixed | Lock-In Penalty |
|---|---|---|---|
| DBS | 2.60–2.70% | 2.75–2.85% | 1.5% |
| OCBC | 2.55–2.65% | 2.70–2.80% | 1.5% |
| UOB | 2.65–2.75% | 2.80–2.90% | 1.5% |
| Standard Chartered | 2.50–2.65% | 2.65–2.80% | 1.5% |
Rates are indicative as of early 2026 and change frequently. Get live quotes from each bank or through a mortgage broker.
Floating Rate Packages (SORA-Pegged)
3M-SORA ~1.50–1.70% as of Feb 2026
| Bank | Spread | All-In Rate | Lock-In |
|---|---|---|---|
| DBS | SORA + 0.80% | ~2.30–2.50% | 2 years |
| OCBC | SORA + 0.75% | ~2.25–2.45% | 2 years |
| UOB | SORA + 0.80–0.85% | ~2.30–2.55% | 2 years |
| Standard Chartered | SORA + 0.70–0.80% | ~2.20–2.40% | 2 years |
All-in rate = 3M-SORA + spread. SORA resets quarterly. Rate moves with market conditions.
Monthly Payment Impact ($750K Loan, 25 Years)
| Rate | Monthly Payment | Total Interest (25yr) | vs 2.50% |
|---|---|---|---|
| 2.30% (floating) | $3,296 | $238,800 | −$17,700 |
| 2.50% (low fixed) | $3,364 | $256,500 | — |
| 2.70% (mid fixed) | $3,434 | $280,200 | +$23,700 |
| 2.90% (high fixed) | $3,504 | $301,200 | +$44,700 |
| 3.50% (stress test) | $3,753 | $375,900 | +$119,400 |
A 0.40% rate difference = ~$140/mo or ~$42K over 25 years on a $750K loan.
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FAQ
What are the best fixed-rate mortgage packages in 2026?
As of early 2026, fixed rates have come down from their 2023-2024 peaks. The big four: DBS offers 2-year fixed at 2.60-2.70%, 3-year fixed at 2.75-2.85%. OCBC's 2-year fixed runs 2.55-2.65%, often the most competitive among local banks. UOB's 2-year fixed is 2.65-2.75%, with a 3-year option at 2.80-2.90%. Standard Chartered is typically 0.05-0.10% lower than DBS/UOB at 2.50-2.65% for 2-year fixed, but watch the clawback clause. All rates assume 75% LTV first property. For second property (45% LTV), add 0.15-0.30% across the board.
How do floating rate packages compare across banks?
Floating rates are pegged to either SORA (Singapore Overnight Rate Average) or each bank's internal board rate. SORA-pegged packages: DBS offers 3M-SORA + 0.80% (currently ~2.30-2.50% all-in). OCBC has 3M-SORA + 0.75% (~2.25-2.45%). UOB is 3M-SORA + 0.80-0.85%. SCB runs 3M-SORA + 0.70-0.80% (~2.20-2.40%). Board rate packages: DBS has a FHR (Fixed Home Rate) product that resets quarterly — currently around 2.45-2.60%. Board rate products are less transparent because the bank controls the rate. Key insight: floating is currently 0.20-0.40% cheaper than fixed, but you take on the risk that SORA rises. With SORA trending down in 2026, floating is popular — but fixed gives peace of mind for budgeting.
Should I choose a 2-year or 3-year lock-in?
2-year lock-in is the default sweet spot for most buyers. Here's why: (1) The rate difference between 2-year and 3-year fixed is typically only 0.10-0.15% — on a $750K loan, that's $750-$1,125/yr or $62-$94/mo. Not huge. (2) But the 3-year lock-in costs you flexibility. If rates drop significantly in year 2, you're stuck for another year or you pay the 1.5% penalty. On $750K, that's $11,250 to break. (3) If rates are high and you expect them to fall, go 2-year — you can refinance sooner. If rates are low and you want to lock it in, 3-year makes sense. (4) In 2026, with rates trending down from their peak, 2-year lock-in gives you a refinance window sooner. Choose 3-year only if the rate discount is >0.20%.
What are the hidden costs and penalties to watch for?
Beyond the headline rate, check these: (1) Lock-in penalty: typically 1.5% of outstanding loan if you refinance during lock-in. On $750K = $11,250. Some banks have 0.75% in the final 6 months of lock-in. (2) Clawback of legal subsidy: most banks pay your conveyancing fees ($2,000-$3,000) but claw it back if you refinance within 2-3 years. SCB and HSBC are known for longer clawback periods. (3) Cancellation fee: $500-$800 if you cancel after accepting the letter of offer. (4) Valuation fee: $300-$500, usually absorbed by the bank for new purchases but not always for refinancing. (5) Fire insurance: mandatory, $5-$8/yr, some banks bundle it. (6) Conversion fee: $0-$800 to switch between fixed and floating within the same bank (repricing) — usually free after lock-in ends.
Which bank has the best overall mortgage package?
There's no single "best" — it depends on your priority. For lowest rate: SCB and OCBC consistently lead on headline rates, typically 0.05-0.15% below DBS/UOB. SCB in particular targets refinancing customers with aggressive rates. For best service: DBS has the smoothest digital process (PropertyMarketplace integration) and fastest disbursement. For flexibility: OCBC and UOB offer more variants (fixed, floating, split) and easier repricing after lock-in. For relationship pricing: if you have $200K+ in AUM with any bank, ask for private banking rates — typically 0.20-0.40% below retail packages. Strategy: always get quotes from at least 3 banks. Mortgage brokers (free to borrowers — banks pay them) can negotiate on your behalf and typically secure 0.05-0.10% better than walk-in rates.
How do I decide between fixed and floating in 2026?
In 2026, the rate environment is: SORA at ~1.50-1.70%, fixed rates at 2.55-2.85%, floating all-in at 2.20-2.50%. Fixed costs 0.20-0.40% more than floating right now. The question is whether SORA will rise back above 2.5% during your lock-in period. If you believe rates stay flat or drop further: go floating, save $150-$300/mo on a $750K loan. If you want certainty: go fixed, pay the premium for predictable budgeting. A hybrid approach: some banks (OCBC, UOB) let you split your loan — e.g., 50% fixed, 50% floating. This hedges your risk. Another approach: go floating now and switch to fixed later if rates start climbing — but watch the conversion fee ($0-$800). For most first-time buyers on tight budgets, fixed gives better peace of mind even at a small premium.
Related
- Property Loan Interest Rates 2026 — market rate overview
- Fixed vs Floating Rate — when to choose which
- Mortgage Lock-In Period — 2–3 years, 1.5% penalty
- Mortgage Refinancing Guide — when and how to refinance
- Total Mortgage Interest Cost — see the true cost over 25 years
- Mortgage Rate Forecast 2026 — where SORA is heading
Last updated Feb 2026. Rates are indicative and change frequently. Always get live quotes from banks or a mortgage broker for your specific situation. This is general information, not financial advice.