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DBS Mortgage Review: Is DBS Singapore's Best Home Lender?

DBS offers very competitive home loans for private and HDB residences.

DBS Mortgage Review: Is DBS Singapore's Best Home Lender?

DBS offers very competitive home loans for private and HDB residences.


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  • Individuals seeking competitive home loan interest rates
  • Borrowers seeking to refinance home loans of more than S$500,000
  • Individuals hoping to earn interest as they pay off their loan


  • Borrowers seeking to refinance a home loan of less than S$500,000

DBS is the largest bank in Singapore and tends to offer some of the mortgage rates. Borrowers should consider DBS's housing loans due to its strong experience as a major lender in the country. It is also a great option for borrowers seeking to refinance their mortgage as it offers S$2,000 to S$3,000 in subsidies for legal fees for loans over S$500,000.

Summary of DBS's Mortgage Offerings
Typically offers very competitive fixed and floating home loan rates, with and without lock-in periods
Lock-in periods of up to 5 years

Table of Contents

What Makes DBS Stand Out to Borrowers

DBS's impressive lending track record and consistently low interest rates make it great option for prospective homeowners to consider for their home loans. DBS is typically among the most affordable lenders in Singapore. However, interest rates for home loans change quite frequently, so it is important to monitor its rates compared to other banks.

For example, DBS offers some of the cheapest HDB and private home loans, for completed residences or buildings under construction (such as BTO, DBSS and EC flats), with fixed or floating rates, with or without lock-in periods. While there are financial institutions that offer lower introductory rates, DBS is generally among the cheapest when it comes to total cost of home loans. This is because the lenders with low introductory rates tend to charge higher rates than DBS in later years of their loan tenures.

DBS HDB and Private Home Mortgage Rates as of January 2024

DBS is one of the best lenders for individuals seeking a housing loan for an HDB flat, providing competitive fixed and floating interest rates.

Borrowers considering home loans to purchase private properties in Singapore should consider DBS. The bank generally offers very competitive fixed and floating interest rates. The table below illustrates the current interest rates associated with a private home loan from DBS. The tables below detail DBS's current mortgage interest rates.

DBS mortgage rates
Source: DBS
DBS mortgage rates
Source: DBS
DBS mortgage rates
Source: DBS
DBS mortgage rates
Source: DBS
DBS mortgage rates
Source: DBS

Applicable Fees

DBS charges standard fees for its mortgages, including partial repayment fees, full redemption penalties and cancellation fees. The table below outlines the fees associated with DBS home loans and home loan refinancing.

Loan TypePartial Repayment FeeFull Redemption PenaltyCancellation Fee
HDB TrackerN/AN/A1.5%
Private Tracker1.5%1.5%1.5%
Board Rate (Lock-In)1.5%1.5%1.5%
Board Rate (no lock-in)N/AN/A1.5%
Fixed Rate1.5%1.5%1.5%

How to Apply: Application Process

Find the Cheapest Home Loans in Singapore

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Applying for a housing loan is a very arduous process that's complicated to navigate alone. If you are interested in applying one, we strongly recommend you to seek out some help from our mortgage broker partner by clicking on the "Check Rates" buttons on this page.

Borrowers that are interested in applying for a home loan from DBS must provide personal identification, income and personal debt information documents. Also, those to purchase a property must submit additional documents, including an option to purchase or sales and purchase agreement. Individuals purchasing an HDB resale must provide a valuation report.

Individuals seeking a refinance loan for a private residence must provide the offer letter from from the original lender with repayment history for the latest 6 months of that loan. Borrowers must also provide the IRAS My Property Portfolio for owner-occupied residences. Finally, borrowers seeking a refinance loan must also provide their latest CPF property withdrawal statement if they have an existing term loan or are applying for a term loan.

Individuals seeking to refinance an HDB loan must provide their latest 6 months loan repayment history, as well as their IRAS My Property portfolio if the residence is owner-occupied.

  • NRIC or Passport (for foreigners)
  • HDB Flat & Financial Information
  • Latest Notice of Assessment or 12 months CPF Contribution History
  • Latest credit card & credit line statements with outstanding balances
  • Latest 3 months’ payslips
  • Latest 3 months’ salary crediting account statements (additional documents required for customers working overseas)
  • Latest credit facilities statements (for example: existing home loans, credit card, car loan, personal loan facilities or others)

How Do DBS Mortagage Rates Compare?

Interest rates for home loans change frequently. Therefore, it is important to periodically review the best rates in the market. For a live look at other lender's interest rates, see the table below that features today's interest rates.

Bank1st Yr InterestLock-in PeriodApply Now
No offerings at this time

Home mortgage rates showcased on this page are derived from the mortgage loan aggregator Redbrick Mortgage Advisory, our mortgage loan partner.

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