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Key Takeaways · October 2026
- Lowest floating rate (Private Condo): 1.43% p.a. from HSBC and Maybank (3M SORA + 0.20%)
- Lowest fixed rate (Private Condo): 1.70% p.a. from Standard Chartered (2-year fixed), after several banks raised fixed rates sharply this month
- Lowest HDB floating rate: 1.46% p.a. from HSBC (1M SORA + 0.20%), well below the HDB concessionary rate of 2.60%
- Lowest Commercial rate: 1.81% p.a. from DBS (3M SORA + 0.58%)
- Current SORA: 1M Compounded SORA 1.26%, 3M Compounded SORA 1.23%, with 3M still climbing and 1M easing slightly
- Outlook: UOB forecasts 3M SORA at 1.40% by end-2026, rising to 1.63% by Q3 2027 (UOB Global Economics & Markets Research, 25 Sep 2026)
SORA Benchmark Reference (October 2026)
Private Condo (Completed)
FixedLowest
Fixed 2-Year Package
1.70%
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
1.43%
p.a. · 3M SORA (1.23%) + 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
1SCB
Fixed 2 years
1.70%
2DBS
Fixed 2 years
1.73%
3UOB
Fixed 2 years
1.75%
Fixed rates jumped this month. HSBC (now 1.80%) and Citi (now 1.90%) both raised their 1.40% packages, leaving Standard Chartered in front at 1.70%. WhatsApp us for your exact quote.
Top 3 Floating — Private Condo
1HSBC
3M SORA + 0.20%
1.43%
2Maybank
3M SORA + 0.20%
1.43%
3SCB
3M SORA + 0.25%
1.48%
HSBC cut its spread to 0.20% to join Maybank at 1.43%, while Citi widened to 0.45%. Best floating now sits about 0.27% below the best fixed. 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
1.43%
p.a. · 3M SORA (1.23%) + 0.20%
Best BUC rate. Only interest charged on disbursed amount, so payments stay low during construction.
Floating
3M SORA BUC Package
1.48%
p.a. · 3M SORA (1.23%) + 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%
1.43%
2UOB
3M SORA + 0.25%
1.48%
3DBS
3M SORA + 0.28%
1.51%
HSBC now leads alone at 3M SORA + 0.20% after OCBC widened its spread to 0.28%. We help you pick the right bank based on disbursement schedule, TOP timing and project type.
HDB Flat
FixedLowest
HDB Fixed 2-Year Package
1.65%
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
1.46%
p.a. · 1M SORA (1.26%) + 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
1HLB
Fixed 2 years
1.65%
2UOB
Fixed 2 years
1.75%
3DBS
Fixed 2 years
1.80%
Fixed rates jumped this month: HSBC raised its HDB package from 1.45% to 1.85%, leaving Hong Leong Bank (HLB) in front at 1.65%. All three still beat the HDB concessionary 2.60% by a wide margin.
Top 3 Floating — HDB
1HSBC
1M SORA + 0.20%
1.46%
2UOB
3M SORA + 0.25%
1.48%
3OCBC
3M SORA + 0.30%
1.53%
HSBC's 1M-pegged package is back on top at 1.46% as 1M SORA eased to 1.26%. UOB is a close second on a 3M peg.
Commercial Property
FixedLowest
Commercial Fixed 2-Year
2.05%
p.a. · Fixed for 2 years
Best fixed rate for shophouse, office or retail units. TDSR applies. No MSR.
Floating
Best Commercial Floating
1.81%
p.a. · 3M SORA (1.23%) + 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
2.05%
2SCB
Fixed 2 years
2.28%
3UOB
Fixed 2 years
2.40%
DBS still leads at 2.05% after a small increase, while SCB jumped to 2.28%. Eligibility depends on property type and occupier status.
Top 3 Floating — Commercial
1DBS
3M SORA + 0.58%
1.81%
2SCB
3M SORA + 0.68%
1.91%
3UOB
3M SORA + 1.00%
2.23%
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
3.00%
p.a. · Fixed for 2 years
Best fixed rate for factory, warehouse or B1/B2 industrial units. Maybank raised its fixed rate from 2.68% to 3.00% this month.
Floating
Best Industrial Floating
2.26%
p.a. · 1M SORA (1.26%) + 1.00%
Floating package for industrial units. Rate reviewed monthly. 1M SORA eased slightly this month, trimming the all-in rate.
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
3.00%
Maybank raised its Industrial fixed rate from 2.68% to 3.00% in October. DBS, OCBC and UOB quote case-by-case.
Best Floating — Industrial
1Maybank
1M SORA + 1.00%
2.26%
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 1.43% saves roughly S$830/month, or about S$20,000 over 2 years. Enter your own numbers to see your exact figure.
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Frequently Asked Questions
As of October 2026, the lowest mortgage rate in Singapore is 1.43% p.a. (floating) from HSBC and Maybank, pegged to 3-Month SORA + 0.20% spread. The lowest 2-year fixed rate is 1.65% p.a. from Hong Leong Bank for HDB flats, and 1.70% p.a. from Standard Chartered for private property. For HDB floating specifically, HSBC offers the lowest at 1.46% (1M SORA + 0.20%). Rates vary by property type, loan size and borrower profile.
The newest Singapore home loan rates (October 2026) start from 1.43% p.a. for floating packages and 1.65% p.a. for 2-year fixed packages (HDB; private from 1.70%). 1-Month Compounded SORA is currently 1.26% and 3-Month SORA is 1.23%. 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 1.43% and 2.05% p.a. across most property types as of October 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.
Not in the near term, based on current bank forecasts. Singapore mortgage rates dropped sharply through 2025 and bottomed out in mid-2026, when 3-Month Compounded SORA fell to about 1.05%. It has since climbed to 1.23% in October 2026, and banks repriced 2-year fixed packages sharply higher this month: they now start from 1.65% (HDB) and 1.70% (private), up from 1.40% to 1.45% in September. UOB's latest forecast (25 Sep 2026) sees 3M SORA at 1.40% by end-2026, rising to about 1.63% by Q3 2027, so floating rates are more likely to drift up than down over the next year.
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 October 2026, banks repriced 2-year fixed packages sharply higher: the best now start from 1.65% (HDB) and 1.70% (private), while the best floating packages start from 1.43%. Floating looks about 0.27% cheaper today, but if UOB's forecast holds (3M SORA at 1.40% by end-2026 and 1.63% by Q3 2027), floating rates would pass today's best fixed within about a year, and the two would cost roughly the same over a 2-year lock-in. Choose fixed if you want certainty at little or no extra cost. Choose floating if you expect SORA to rise more slowly than forecast.
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 moves. In October 2026, 1M SORA is 1.26% and 3M SORA is 1.23%. 1M is still slightly above 3M, so most 3M-pegged packages remain competitive, though HSBC's 1M-pegged HDB package currently leads for HDB thanks to its low 0.20% spread.
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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