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Key Takeaways · August 2026
- Lowest floating rate (Private Condo): 1.32% p.a. from Maybank (3M SORA + 0.20%)
- Lowest fixed rate (Private Condo): 1.40% p.a. from HSBC (2-year fixed)
- Lowest HDB floating rate: 1.30% p.a. from HSBC (1M SORA + 0.20%), well below the HDB concessionary rate of 2.60%
- Lowest Commercial rate: 1.70% p.a. from DBS (3M SORA + 0.58%)
- Current SORA: 1M Compounded SORA 1.10%, 3M Compounded SORA 1.12%, with 1M dipping below 3M this month
- Outlook: 2026 forecast 1.0% to 1.4%, with SORA seen bottoming near 1.0% before edging up by year end (UOB and MUFG forecasts)
SORA Benchmark Reference (August 2026)
Private Condo (Completed)
FixedLowest
Fixed 2-Year Package
1.40%
p.a. · Fixed for 2 years
Best fixed rate available. Lock in certainty while rates are low. Reverts to prevailing floating after lock-in.
Floating
Best Floating Package
1.32%
p.a. · 3M SORA (1.12%) + 0.20%
Most competitive floating package. Reprices quarterly. Ideal if you expect SORA to stay low or fall further.
Which to choose?
In 2026, fixed rates are historically attractive. Choose fixed if you want certainty. Choose floating if you think SORA will drop further or plan to sell within 2 years.
Top 3 Fixed — Private Condo
1HSBC
Fixed 2 years
1.40%
2Citi
Fixed 2 years
1.42%
3Maybank
Fixed 2 years
1.45%
HSBC holds the lead at 1.40%, with Citi close behind at 1.42%. OCBC and UOB raised their fixed rates this month. WhatsApp us for your exact quote.
Top 3 Floating — Private Condo
1Maybank
3M SORA + 0.20%
1.32%
2Citi
3M SORA + 0.23%
1.35%
3HSBC
3M SORA + 0.25%
1.37%
Maybank holds the top spot at 3M SORA + 0.20%. WhatsApp PropertyNet.SG with your preferred bank and we'll introduce you to a Senior Banker for your actual quote.
New Launch / BUC (Building Under Construction)
FloatingLowest
Best BUC Floating Package
1.32%
p.a. · 3M SORA (1.12%) + 0.20%
Best BUC rate. Only interest charged on disbursed amount, so payments stay low during construction.
Floating
3M SORA BUC Package
1.37%
p.a. · 3M SORA (1.12%) + 0.25%
Quarterly repricing. Stable rate during construction. Most BUC packages today are pegged to 3M SORA.
BUC note
Fixed rates are not available for BUC loans, banks only offer floating. You can lock a fixed rate after TOP. Interest is charged only on the loan amount disbursed at each construction stage.
Top 3 Floating — BUC (New Launch)
1HSBC
3M SORA + 0.20%
1.32%
2OCBC
3M SORA + 0.20%
1.32%
3UOB
3M SORA + 0.25%
1.37%
HSBC and OCBC share the lead at 3M SORA + 0.20%. We help you pick the right bank based on disbursement schedule, TOP timing and project type.
HDB Flat
FixedLowest
HDB Fixed 2-Year Package
1.45%
p.a. · Fixed for 2 years
Best fixed rate for HDB purchase or refinancing. Well below HDB concessionary rate of 2.6%.
Floating
Best HDB Floating Package
1.30%
p.a. · 1M SORA (1.10%) + 0.20%
Lowest floating rate for HDB. Subject to MSR 30% cap. Monthly repricing.
HDB vs bank loan
HDB concessionary loan is 2.60%, significantly higher than bank rates in 2026. Most HDB buyers benefit from taking a bank loan. MSR 30% cap applies to all HDB financing.
Top 3 Fixed — HDB
1HSBC
Fixed 2 years
1.45%
2Maybank
Fixed 2 years
1.65%
3HLB
Fixed 2 years
1.65%
HSBC holds at 1.45%, still the lowest HDB fixed on the market, and its lead widened as OCBC and UOB raised rates this month. All three beat the HDB concessionary 2.60% by a wide margin.
Top 3 Floating — HDB
1HSBC
1M SORA + 0.20%
1.30%
2UOB
3M SORA + 0.25%
1.37%
3OCBC
3M SORA + 0.30%
1.42%
HSBC's 1M-pegged package retakes the lead as 1M SORA dips below 3M. OCBC widened its spread to 0.30% this month.
Commercial Property
FixedLowest
Commercial Fixed 2-Year
1.95%
p.a. · Fixed for 2 years
Best fixed rate for shophouse, office or retail units. TDSR applies. No MSR.
Floating
Best Commercial Floating
1.70%
p.a. · 3M SORA (1.12%) + 0.58%
Standard floating package for commercial properties. Higher spread vs residential reflects risk profile.
Commercial note
Commercial loans typically have higher spreads and shorter tenures (up to 25 years). No MSR applies, only TDSR 55%. Max LTV can go up to 90% for owner-occupied properties, lower for investment.
Top 3 Fixed — Commercial
1DBS
Fixed 2 years
1.95%
2SCB
Fixed 2 years
2.00%
3UOB
Fixed 2 years
2.40%
DBS still leads at 1.95%, with SCB holding at 2.00%. Eligibility depends on property type and occupier status.
Top 3 Floating — Commercial
1DBS
3M SORA + 0.58%
1.70%
2SCB
3M SORA + 0.68%
1.80%
3Maybank
1M SORA + 1.00%
2.10%
Commercial floating spreads are wider than residential. Final spread depends on loan size and borrower profile. WhatsApp PropertyNet.SG and we'll introduce you to a Senior Banker for an exact quote.
Industrial Property
FixedLowest
Industrial Fixed 2-Year
2.68%
p.a. · Fixed for 2 years
Best fixed rate for factory, warehouse or B1/B2 industrial units. Maybank holds its fixed rate at 2.68% this month.
Floating
Best Industrial Floating
2.10%
p.a. · 1M SORA (1.10%) + 1.00%
Floating package for industrial units. Rate reviewed monthly. 1M SORA eased this month, bringing the all-in rate back down.
Industrial note
Industrial loans cover factory, warehouse and B1/B2 units. SSD applies if sold within 3 years. Max LTV can go up to 90% for owner-occupied, lower for investment. Loan tenure is capped by the remaining lease, which is often shorter for industrial (especially older 30-year leases), so the full 25 to 30 year tenure may not always apply.
Best Fixed — Industrial
1Maybank
Fixed 2 years
2.68%
Maybank holds its Industrial fixed rate at 2.68% in August. DBS, OCBC and UOB quote case-by-case.
Best Floating — Industrial
1Maybank
1M SORA + 1.00%
2.10%
Other banks may quote case-by-case for strong borrower profiles or strategic industrial properties. WhatsApp PropertyNet.SG and we'll connect you with a Senior Banker.
Refinancing Savings Calculator
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How much could you save?
Refinancing a S$800,000 loan from 3.50% to today's lowest at 1.32% saves roughly S$870/month, or about S$20,900 over 2 years. Enter your own numbers to see your exact figure.
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Frequently Asked Questions
As of August 2026, the lowest mortgage rate in Singapore is 1.32% p.a. (floating) from Maybank, pegged to 3-Month SORA + 0.20% spread. The lowest 2-year fixed rate is 1.40% p.a. from HSBC. For HDB specifically, HSBC offers the lowest floating at 1.30% (1M SORA + 0.20%). Rates vary by property type, loan size and borrower profile.
The newest Singapore home loan rates (August 2026) start from 1.32% p.a. for floating packages and 1.40% p.a. for 2-year fixed packages. 1-Month Compounded SORA is currently 1.10% and 3-Month SORA is 1.12%. PropertyNet.SG updates these rates monthly across all major banks including DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, Citi and Hong Leong.
No, 4.5% would be considered high in Singapore today. Current best mortgage rates are between 1.32% and 1.95% p.a. across most property types as of August 2026. A 4.5% rate would more than triple your monthly interest cost compared to today's market lows. If you are locked in at that level, refinancing now could save you several thousand dollars per year on a typical S$1 million loan.
Singapore mortgage rates dropped sharply through 2025 and stabilised in 2026. 3-Month Compounded SORA fell from a ~3% peak in early 2025 to around 1.12% in August 2026. Fixed rates have followed, dropping to as low as 1.40% for 2-year packages. This month 3M SORA held at 1.12% while 1M SORA eased to 1.10%, consistent with rates hovering near their floor. Most analysts expect SORA to hold in the 1.0% to 1.4% range through end-2026, with UOB forecasting 3M SORA at around 1.39% by year end as US rate cuts get priced out.
SORA (Singapore Overnight Rate Average) is the volume-weighted average rate of overnight interbank SGD transactions published daily by MAS. Since 2022, all new floating-rate home loans in Singapore are pegged to SORA. Your floating rate = SORA + bank spread. As SORA moves, your monthly repayment changes accordingly. 1M SORA reprices monthly; 3M SORA reprices every quarter.
In August 2026, SORA is in the 1.10% to 1.12% range. Fixed rates remain between 1.40% and 1.45%, which is historically very attractive. If you prioritise certainty, a 2-year fixed package locks in a low rate now. If you believe SORA will fall further or stay low, a floating package gives you a lower starting rate. Many borrowers are choosing fixed in 2026 to secure the low rate before any potential rebound later in the year.
1M SORA compounds the daily SORA rate over the past 30 days and reprices monthly. It reacts faster to rate changes, both up and down. 3M SORA smooths rates over 90 days and reprices quarterly, so it is more stable but slower to reflect cuts. In August 2026, 1M SORA is 1.10% and 3M SORA is 1.12%. 1M has dipped below 3M for the first time in months, so 1M-pegged packages, like HSBC's HDB package, are back in front where available.
Yes, 2026 is an excellent window to refinance, with rates near multi-year lows. Check your existing loan's lock-in period first. Most packages have a 2-year lock-in with a prepayment penalty of 1.5%. If your lock-in expires within the next 3 to 6 months, start the process now. WhatsApp PropertyNet.SG with your preferred bank and we'll introduce you to a Senior Banker for an actual refinancing quote.
PropertyNet.SG tracks rate movements across all major Singapore banks (DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, Citi and Hong Leong) and updates this page monthly. When you're ready for an actual quote, WhatsApp us with your preferred bank and package. We'll introduce you straight to a Senior Banker who can quote your rate. No cost to you, as we earn a referral fee from the bank if a loan is disbursed.
Comparing rates for a purchase?
The right property choice saves you more than the right loan.
A 0.2% rate difference saves you a few thousand over a lock-in period. Entering the right project at the right price saves you tens of thousands. If you are rate-shopping because a purchase is on the horizon, talk to us before you commit. We will sanity-check the property, the timing and the financing together, no charge.
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