What is the best home loan rate at the moment and which bank?

As of the current market, the best home loan rates in Singapore vary depending on the type of loan and the bank. Here are some of the most competitive rates:

Fixed Rate Loans

• For private properties, Maybank and Standard Chartered are offering some of the best fixed rate home loans. Maybank has a 2-year fixed rate at 2.75%, and Standard Chartered also offers a 2-year fixed rate at 2.95%.
• DBS and OCBC also provide competitive fixed rates, with DBS offering a 3-year fixed rate at 2.95% and OCBC at 2.90%.

Floating Rate Loans

• For floating rate loans, banks are offering rates tied to the 3-month SORA (Singapore Overnight Rate Average). For example, Maybank offers a 3M SORA + 0.45%, while DBS offers a 3M SORA + 0.55%.
• Standard Chartered also has a competitive floating rate at 3M SORA + 0.60%.

Key Considerations

• When choosing a home loan, it's important to consider not just the headline interest rate but also other factors such as the lock-in period, flexibility of the mortgage package, and any subsidies or rebates offered, especially for refinancing.

For the most up-to-date and detailed information, you can use the tools and resources available on EdgeProp Singapore to compare various home loan packages and find the one that best suits your needs.