With mortgage rates constantly changing, homebuyers and homeowners looking to refinance are asking the same question: Which bank offers the best home loan in Singapore for 2025?
Whether you’re planning to buy a new launch condo, refinance your existing home loan, or upgrade to private property, securing the lowest interest rates can save you thousands of dollars over the course of your loan. In this guide, we’ll break down:
- Fixed vs floating rate home loans – which one is better in 2025?
- The latest mortgage rates in Singapore
- Important things to consider when choosing the right home loan
Fixed vs Floating Home Loans: What’s Best in 2025?
Before diving into the latest bank rates, it’s important to understand whether a fixed or floating interest rate is the better choice in 2025.
| Loan Type | Pros | Cons | Best For |
|---|---|---|---|
| Fixed Rate Home Loan | Stability – monthly repayments won’t change during the lock-in period | Higher interest rates compared to floating rates | Buyers who want certainty in their monthly repayments |
| Floating Rate Home Loan | Typically starts lower than fixed rates | Monthly repayments fluctuate based on market rates | Buyers who can tolerate rate fluctuations and want to benefit if interest rates drop |
Note: With interest rates still fluctuating in 2025, many homebuyers are opting for shorter fixed-rate packages (1-2 years) before switching to a floating rate once market conditions stabilize.
Latest Home Loan Packages in Singapore (2025)
We’ve compiled a list of some of the most competitive home loan packages currently available. These rates are subject to change, so always check with a mortgage broker like us before making a decision:
Note: Interest rates are estimated based on market trends and are subject to changes. Some of the best rates cannot be published. Check it with a mortgage broker like Mortgage Master for real-time updates.
How to Choose the Best Home Loan in Singapore
With so many options available, how do you pick the right mortgage package for your needs? Here are some key factors to consider:
- Lock-in Period: How Much Flexibility Do You Need?
Most fixed-rate home loans come with a lock-in period of 1-3 years, meaning you’ll face penalties if you refinance or sell your property during this time.
- If you’re buying a new home, check if the lock-in period aligns with your timeline to sell
- If you’re refinancing, a shorter lock-in period may offer more flexibility in the event you wish to exit in the future
- Compare Interest Rates Across Different Banks
Even a 0.10% difference in interest rates can add up to thousands of dollars in savings over your loan tenure.
Use a mortgage broker to compare rates across different banks – some promotions and discounts aren’t publicly available.
- Factor in Additional Perks (Legal Subsidies, Free Conversions, Cash Rebates)
Some banks offer legal subsidies (to help with refinancing costs), free rate conversion options, or cash rebates for switching loans. These perks can help reduce the overall cost of your mortgage.
For example, there was a bank that once offered a waiver of the first month’s mortgage, thus bringing down the overall effective rate. The promotion is over but you can contact us for the latest promos from other banks.
Should You Refinance Your Home Loan in 2025?
With interest rates fluctuating, many homeowners are considering refinancing to secure a better deal. If you’re currently paying more than 3% interest, you could be overpaying on your mortgage.
- Lower your monthly repayments by switching to a lower-rate loan
- Enjoy better perks like cash rebates or legal subsidies
- Shorten your loan tenure and save on total interest paid
Not sure if refinancing is right for you? Get a free assessment from Mortgage Master to see if you can save money on your mortgage.
Final Thoughts: Get Expert Advice Before Choosing a Mortgage
Whether you’re buying a new launch condo or refinancing an existing loan, choosing the right home loan package can save you thousands of dollars in interest and fees.
At Mortgage Master, we help:
- Compare the best mortgage rates from multiple banks
- Secure exclusive deals (better than going directly to the bank)
- Provide expert mortgage advice tailored to your financial needs
Don’t overpay on your home loan. Contact Mortgage Master today for a free consultation and find the best mortgage package in Singapore.
Disclaimer: This article is based on estimated mortgage rates and is subject to change. Buyers are encouraged to consult with us directly for the latest home loan packages in Singapore.
