Mortgage Refinancing Wizard

Current Loan Details

Loan Options

Contact Information

Compare & Select Banks

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Step 1 2 3 4 5
Bank Name

e.g. UOB, DBS, HSBC

Which bank is currently servicing your loan?

Property Type

Loan Packages differ between HDB and Private Property.

What is your property type?

HDB
Private

Fixed Rates vs Floating Rates

A fixed rate mortgage is a mortgage where the interest rate is fixed throughout the term of the loan as opposed to floating rates which may adjust or "float".

Is your current loan a fixed or floating rate package?

Fixed
Floating
Not Sure

Lock-in Period

If you are currently locked in, please check with your bank if there are any penalties for full redemption (i.e. changing to another bank)

Are you currently locked in?

Locked-in
Not Locked-in
Not Sure

Loan Amount

Your remaining loan amount is the outstanding amount you have to pay back on your loan. (Initial Loan amount – Principal repaid)

What is your remaining loan amount?

$
* greater than $100k

Continue to Step 2 »
Lock-in Period

Lock-in packages tie you down contractually to prevent you from switching banks for the duration of the contract. Lock-in periods typically vary from 1-3 years. The longer your lock-in period, the lower the interest rates.

Are you ok with being locked in to potentially enjoy lower rates?

Lock-in
No Lock-in

Fixed Rates vs Floating Rates

Fixed rates means the interest rates are fixed to certain values and will not change for the period which it is fixed for.

Floating rates can fluctuate from month to month.

In Singapore, floating rates packages are usually pegged to Sibor rates. The Sibor rate is the rate at which banks lend to each other (bank’s cost price). Floating rate packages have additional percentage above the Sibor rates, known as the spread. The lower the spread, the better.

If you expect interest rates to rise during the next 2-3 years,you should take a fixed rate package. If you expect it to fall, floating rates may be more advantageous. If you are not one to regularly monitor the market, fixed rates would offer you peace of mind and you can rest assured of your monthly payment amounts.
more »

Are you interested in a fixed or floating rate package?

Fixed
Floating

Loan Tenure

Your Loan Tenure is the full duration of your loan. The maximum tenure is 30 years or until you turn 65, whichever is lower. Short loan tenures mean you pay less overall interest but incur higher monthly payments. Long Loan Tenures mean you incur lower monthly payments but will have to pay more overall interest.

Please select your Loan Tenure

Interest Offset

Some banks allow you to offset your interest by opening a current account with the same bank. By depositing some savings into this account every month, you can use the interest generated from this account to offset your mortgage interest.

Because it’s a current account, your money is not locked in and you are free to withdraw it at any time.

*Not all banks offer Interest Offset Schemes.

Are you interested in Interest Offset Schemes?

Yes
No

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What others are saying

  • "Best service I’ve come across. Keep it up!"

    Rajendran Saravanaprakash

  • "This is a very useful home loan comparison table. Save time going to each bank and check!"

    Wee Yam Hee

  • "Good starting point and information on the various parameters - useful and easy to understand."

    Watt Wai Mei

Press

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Refinancing And Prepayment Penalties How Soon Can You Pay Off Your Loan? How do I get Lower Interest Rates? Should I take a fixed rate loan? Settle your Mortgage before buying a Home HDB property market in 2010 How does Inflation Rate affects Mortgage

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What others are saying

  • "Best service I’ve come across. Keep it up!"

    Rajendran Saravanaprakash

  • "This is a very useful home loan comparison table. Save time going to each bank and check!"

    Wee Yam Hee

  • "Good starting point and information on the various parameters - useful and easy to understand."

    Watt Wai Mei

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