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Get the maximum home equity loan

Maximise your home equity loan in Singapore by securing the highest property valuation from across 21 Banks. Our mortgage consultants also provide strategies on cash out refinancing and advice on the best bank for an application.

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BANK LOAN TYPE YEAR 1 YEAR 2 YEAR 3 3 YEAR AVG YEAR 4 YEAR 5 YEAR 6
Limited Promo* 3 Year Fixed 1.10%
Fixed
1.10%
Fixed
1.10%
Fixed
1.10% 1.75%
Floating
1.75%
Floating
1.75%
Floating
Limited Promo* 3 Year Fixed 1.12%
Fixed
1.12%
Fixed
1.12%
Fixed
1.12% 1.75%
Floating
1.75%
Floating
1.75%
Floating
Limited Promo* 2 Year Fixed 1.05%
Fixed
1.05%
Fixed
1.30%
Floating
1.13% 1.30%
Floating
1.30%
Floating
1.30%
Floating
OCBC 3 Year Fixed 1.15%
Fixed
1.15%
Fixed
1.15%
Fixed
1.15% 1.80%
Board
1.80%
Board
1.80%
Board
DBS 3 Year Fixed 1.18%
Fixed
1.18%
Fixed
1.18%
Fixed
1.18% 1.80%
Fixed Deposit
1.80%
Fixed Deposit
1.80%
Fixed Deposit
BOC 2 Year Fixed 1.10%
Fixed
1.10%
Fixed
1.41%
3M SORA
1.20% 1.41%
3M SORA
1.41%
3M SORA
1.41%
3M SORA
Maybank 3 Year Fixed 1.25%
Fixed
1.25%
Fixed
1.25%
Fixed
1.25% 2.75%
Board
2.75%
Board
2.75%
Board
Citibank 3 Year Fixed 1.26%
Fixed
1.26%
Fixed
1.26%
Fixed
1.26% 1.35%
1M SIBOR
1.35%
1M SIBOR
1.35%
1M SIBOR
OCBC 3 Year Fixed 1.30%
Fixed
1.30%
Fixed
1.30%
Fixed
1.30% 1.80%
Board
1.80%
Board
1.80%
Board
Standard Chartered 3 Year Fixed 1.30%
Fixed
1.30%
Fixed
1.30%
Fixed Deposit
1.30% 1.72%
Fixed Deposit
1.72%
Fixed Deposit
1.72%
Fixed Deposit
Hong Leong 2 Year Fixed 1.28%
Fixed
1.28%
Fixed
1.50%
Board
1.35% 2.20%
Board
2.20%
Board
2.20%
Board
UOB 3 Year Fixed 1.35%
Fixed
1.35%
Fixed
1.35%
Fixed
1.35% 1.80%
Board
1.80%
Board
1.80%
Board
Standard Chartered 2 Year Fixed 1.18%
Fixed
1.18%
Fixed
1.72%
Fixed Deposit
1.36% 1.72%
Fixed Deposit
1.72%
Fixed Deposit
1.72%
Fixed Deposit
DBS 5 Year Fixed 1.40%
Fixed
1.40%
Fixed
1.40%
Fixed
1.40% 1.40%
Fixed
1.40%
Fixed
1.80%
Fixed Deposit
DBS 5 Year Fixed 1.68%
Fixed
1.68%
Fixed
1.68%
Fixed
1.68% 1.68%
Fixed
1.68%
Fixed
1.80%
Fixed Deposit
BANK LOAN TYPE YEAR 1 YEAR 2 YEAR 3 3 YEAR AVG YEAR 4 YEAR 5 YEAR 6
Limited Promo* 3-month SORA 0.83%
0.83%
0.83%
0.83% 1.35%
1.35%
1.35%
Limited Promo* Fixed Deposit 1.00%
1.00%
1.00%
1.00% 1.72%
1.72%
1.72%
DBS 3-month SORA 0.96%
0.96%
1.16%
1.03% 1.16%
1.16%
1.16%
HSBC 1-month SORA 0.92%
0.92%
1.35%
1.06% 1.35%
1.35%
1.35%
Citibank 1-month SORA 0.92%
0.92%
1.35%
1.06% 1.35%
1.35%
1.35%
Standard Chartered 3-month SORA 0.92%
0.92%
1.37%
1.07% 1.37%
1.37%
1.37%
Standard Chartered Fixed Deposit 1.10%
1.10%
1.10%
1.10% 1.40%
1.40%
1.40%
UOB 3-month SIBOR 1.25%
1.25%
1.25%
1.25% 1.25%
1.25%
1.25%
HSBC 1-month SIBOR 1.25%
1.25%
1.25%
1.25% 1.25%
1.25%
1.25%
Maybank 3-month SIBOR 1.05%
1.05%
1.90%
1.33% 1.90%
1.90%
1.90%
OCBC 3-month SORA 1.41%
1.41%
1.41%
1.41% 1.41%
1.41%
1.41%
DBS Fixed Deposit 1.50%
1.50%
1.80%
1.60% 1.80%
1.80%
1.80%

how we get you the maximum Home equity loan

Know Your Equity Loan Eligibility

Our mortgage consultants can provide a comprehensive breakdown on your equity loan eligibility over a quick phone consultation all within a few hours.

Maximise Chances Of Approval

Different banks have varying internal approval processes for an equity loan. Our mortgage consultants will be able to select a specific bank with the highest approval probability as well as the best mortgage package available for your needs.

Increase Equity Loan Amount

All equity loans through DollarBack Mortgage enjoy cash rewards above the rebates provided by banks. Since your upfront costs are fully covered with the bank rebates, you can think of the additional cash rewards as a bonus that increases your equity loan amount.

No tricks, no gimmicks. up to $3,300 in cash rewards from us to you!

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Common Questions for a Home Equity loan

What are the fees applicable for a home equity loan?

Legal fees ranging from $1,800 to $2,000 nett as well as valuation fees depending on the market value of the property are applicable for a equity home loan.

Can I use CPF funds to pay for my home equity loan instalments?

No. All home equity loan instalments cannot be paid via CPF and only cash is allowed.

Can I refinance my existing home equity loan?

Yes of course. A existing home equity loan can be refinanced to enjoy a lower interest rate package. Cash rewards and rebates are also offered by all banks for an existing home equity loan refinancing.

What is a home equity loan & cashout refinancing?

A home equity loan and cashout refinancing are theoretically taking out paid up equity from your property as lump sum and servicing the monthly installments with a specific bank. You can take a equity loan from your fully paid up private property from any bank in Singapore or refinance your existing property and apply for an additional equity loan with your existing bank or a different bank altogether. Home equity loans function the same way as any other home loan where the monthly installments are paid in a proportion of interest and principal. While interest only home equity loans used to be available previously, there are no longer allowed by major banks in Singapore.

How to calculate a home equity loan?

There are a few factors involved in calculating a home equity loan amount but the most crucial determinant is the market value of the property. Having a high market value of your property allows for the maximum equity to be taken out. For example, your current property has a market value of $2,000,000, an outstanding loan amount of $800,000 and CPF usage to date by all owners of $200,000. The corresponding equity loan amount is then 75% (maximum financing quantum allowed in Singapore) of the market value (0.75 x 2mil = 1.5mil) subtracted by the outstanding loan amount and CPF usage (1.5mil - 800k - 200k = 500k). Therefore, the maximum equity loan that can be taken is up to $500,000. Do note that equity loans are also subjected to TDSR requirements as well as income and debt obligations. Having a high market value of your property even though important, is not sufficient for a bank to grant a equity loan.

Can I take a equity loan from my HDB property?

No you can't, it also does not matter if your HDB is fully paid up or not. Equity loans are only allowed for private properties.

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