RHB Mortgage Review

RHB Mortgage Review

RHB offers several home loans for Singaporeans seeking a flexible, long-term loan.

Good for

  • Individuals looking for a long-term loan with flexible repayment options.

Bad for

  • Individuals looking for the lowest interest rates

Analyst's Rating


RHB mortgage and refinancing loans offer fixed and floating interest rates and repayment packages, allowing Singaporean customers to personalize their home loan. However, RHB's interest rates are high, which makes their mortgage loans one of the more expensive ones on the market.

Summary of RHB's Home Loans
Processing Fee of 1%
Loan quantum of 75% of purchase price or valuation
Tenures from 5-30 years or until 65 years old, whichever is sooner
Higher interest rates than average

Table of Contents

What Makes RHB Stand Out to Borrowers

RHB mortgage loans are good for people looking to take out a long-term home loan with either a fixed and floating interest rates. As their interest rates are on the higher side, however, they may not be the best choice for cost-conscious consumers.


RHB offers loans for people looking to purchase new and previously owned HDB apartments. When you decide between RHB's fixed or floating interest rate package, it's important to know that RHB's floating interest rates are decided by the bank's internal board. These have the potential to be volatile and could change quarterly with only 30 days' notice. Below, we display RHB's current rates for HDB loans.

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

RHB Private Home Loans Interest Rates as of February 26, 2021

RHB offers a variable rate package which tailors interest rates depending on whether or not you are building a property, or if the property you bought is already built. While they do not advertise their rates on their websites, our loan calculator estimates they are between 1.25%-1.35%. Finally, their 2-3 year lock-in period is uncommon, as many banks offer mortgage loans with a zero or 1 year lock-in period.

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

RHB Refinancing Home Loans Interest Rates as of February 26, 2021

With RHB, you can also refinance your home for up to 75% of the property purchase price or valuation. People typically opt for this if the current market interest rates are low and they want to lower their monthly payments on mortgages they already took out. Like RHB's home loan, the interest rates are subject to the agreement you make with RHB. Unlike other refinancing loans, like HSBC , RHB does not offer cash incentives to refinance your property.

Bank1st Yr InterestLock-in PeriodApply Now
RHB Board1.15%3 years
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RHB Fixed1.45%1 year
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Applicable Fees

RHB charges a 1% processing fee and requires lenders to undergo a 2-3 year lock-in period. This is fairly standard compared to other mortgage lenders in Singapore. If you fail to pay the monthly payment, you will be charged an extra 1% p.a. on the outstanding amount.

How to Apply for an RHB Home Loan: Application Process

RHB has similar requirements to other home loan services in Singapore, requiring applicants to be Singaporean PR/citizens between 21 and 55 years of age who are earning at least S$30,000 a year. If you are applying jointly with someone else, this person must be on a similar salary of at least S$30,000 if you want a higher loan quantum. Moreover, if you are applying for one of RHB's renovation loans, either applicant must be the owner of the property.

Documents required for an RHB loan

  • Photocopy of NRIC (both sides)
  • Proof of Income: Latest computerised payslip, and income tax notice or latest 12 months CPF
  • Printout of financial information from "My HDB Page"
  • Latest statement of all credit facilities with other financial institutions or moneylenders
  • Reservation Form/Booking Form/Contract of Sale/Sale and Purchase Agreement
  • Latest CPF Public Housing Withdrawal Statement — Only required for an HDB loan

How Do RHB Rates Compare to Other Bank's Home Loans?

RHB offers flexible plans for repayment with either the flat rate package, which has lower interest rates p.a. and higher effective annual interest rates, or the monthly rest package, which has higher interest rates p.a. and lower effective interest rates. Overall, RHB's mortgage loan is currently one of the pricier loans compared to other home loans on the market. However, you should note that home loan rates change daily, so it's imperative that you compare rates before settling on a mortgage.

If you want to calculate the total cost of home loans in Singapore to see which one is best for you, use our free mortgage calculator below. This tool uses up-to-date interest rates to allow users to compare the features of each loan currently available.

Find the Cheapest Home Loans in Singapore

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Anya Wasserman

Anya is a Research Analyst for ValueChampion who focuses on loans and investments in Singapore. Previously, she assisted global consultancies, hedge funds and private equities with primary research at a high-growth fin-tech based in London. A graduate of the University of Oxford and King's College London, Anya is currently interested in applying quantitative research to help consumers make better financial decisions.

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