The lowest headline rate is not always the cheapest loan. Compare what each offer costs in interest and fees over the first five years. 3-month compounded SORA, the benchmark most floating loans follow, was 1.23% in Sep 2026.
HDB loan or bank loan?
An HDB loan is steadier and has no penalty for repaying early. A bank loan has often been cheaper in recent years but its rate moves.
| HDB loan | Bank loan | |
|---|---|---|
| Interest rate | 2.6% a year, tied to the CPF Ordinary Account rate | Floating (SORA) or fixed for 1 to 3 years, then floating |
| Most you can borrow | 75% of the lower of price and valuation | 75% of the lower of price and valuation |
| Down payment | 25%, paid from CPF OA, cash or both | 25%: 5% must be cash, the rest cash or CPF OA |
| Income limit | Home loan up to 30% of gross monthly income (MSR) | MSR and total debts up to 55% of income (TDSR) |
| Repaying early | No lock-in, no penalty | Usually a 1 to 3 year lock-in; leaving early may cost about 1.5% of the loan |
| Switching later | You can move to a bank, but not back to HDB | You cannot move to an HDB loan |
Source: CPF Board, 3 differences between HDB loan and bank loan, checked 13 Nov 2026. Rules and rates change: confirm with HDB, CPF Board or your bank before you decide.
Compare your offers
Enter the rates each bank quoted you for years 1 to 4 (the year 4 rate applies from then on). Leave unused offers empty.
Ask every bank
- Which SORA does the rate follow (1-month or 3-month), and what is the spread?
- When does the rate reset, and what does it become after the lock-in?
- How long is the lock-in, and what is the penalty for leaving early (typically about 1.5%)?
- Is there a legal subsidy, and is it clawed back if you refinance within a few years?
- Can you part-prepay for free, and how much?
- What are the valuation, legal and processing fees, and who pays them?
Get current quotes
Bank rates change often and depend on loan size and property type, so we do not print a rate table that could be out of date.
A mortgage broker can also compare several banks at once. Storey Range earns nothing from any bank or broker.
General information, not financial advice. Calculated in your browser; nothing you type is sent anywhere.