Managing Your Existing Home Loan
Your home loan is one of your biggest financial commitments. Let us help you manage it better.
Managing Your Existing Home Loan
Understanding Your Loan Repayments
Monthly Repayments
Go towards paying down the principal and interest. They are payable from your loan servicing account on:
| 1ST of every month for private properties | 15TH of every month for HDB flats |
If the due date falls on a Sunday or gazetted public holiday, the instalment debiting will be made on the next working day.
Using your CPF for Loan Repayments
Revise your monthly repayment amount by applying at CPF website with your SingPass.
- Private Property
By 20th of the month for deduction in the following month - HDB
7 working days prior to the deduction on 10th - 13th of the month.
Reprice Your Loan
Explore repricing your existing DBS Home Loan for interest savings or switch to a loan package that best suits your current need. Our repricing packages are as attractive as our new loan packages, as we appreciate our existing home loan customers for staying with us.
We now offer a suite of repricing packages, comprising of home loans pegged to 3M Compounded SORA or Fixed Deposit Home Rate (FHR).
Repricing Packages
Fixed Rate Packages
Designed for customers who prefer stability and certainty in the monthly instalment.
| 2 Year Fixed Rate | |
|---|---|
| Year 1 to Year 2 | 1.30% p.a. |
| Year 3 and thereafter | FHR6 + 1.60% p.a. |
| Commitment Period | 2-Year Lock-in |
| Minimum loan amount | $100,000 |
| 5 Year Fixed Rate (Exclusively for HDB homeowners) | |
|---|---|
| Year 1 to Year 5 | 1.48% p.a. |
| Year 6 and thereafter | FHR6 + 1.60% p.a. |
| Commitment Period | 5-Year Lock-in |
| Minimum loan amount | $100,000 |
| Special Feature | 1 free conversion after 60 months |
| 5 Year Fixed Rate (Standard package) | |
|---|---|
| Year 1 to Year 5 | 1.68% p.a. |
| Year 6 and thereafter | FHR6 + 1.60% p.a. |
| Commitment Period | 5-Year Lock-in |
| Minimum loan amount | $100,000 |
| Special Feature | 1 free conversion after 30 months |
FHR6 refers to the prevailing 6 months Singapore Dollar fixed deposit interest rate for amounts S$1,000 to S$9,999 or such other sum as we may specify. FHR6 is currently 0.200% p.a.
Floating Rate Packages
Designed for customers who prefer market benchmark rate, i.e. 3M Compounded SORA.
| 3M Compounded SORA + 0.80% p.a. | |
|---|---|
| Year 1 to Year 2 | 3M SORA + 0.80% p.a. |
| Year 3 and thereafter | 3M SORA + 1.00% p.a. |
| Commitment Period | 2 Year Lock-in |
| Minimum loan amount | $500,000 |
The 2-year, 3-year and 5-year lock-in FHR packages come with a special interest rate cap to protect you against rising interest rate in the future.
| 2-Year Lock-in FHR6 + 0.90% p.a. | |
|---|---|
| Year 1 to Year 2 | FHR6 + 0.90% p.a. |
| Year 3 and thereafter | FHR6 + 1.00% p.a. |
| Commitment Period | 2 Year Lock-in |
| Minimum loan amount | $100,000 |
| Special Feature | Interest rate cap at 1.40% p.a. in Year 1 and Year 2 |
| 2-Year Lock-in FHR6 + 0.80% p.a. | |
|---|---|
| Year 1 | FHR6 + 0.80% p.a. |
| Year 2 | FHR6 + 0.90% p.a. |
| Year 3 and thereafter | FHR6 + 1.00% p.a. |
| Commitment Period | 2 Year Lock-in |
| Minimum loan amount | $500,000 |
| Special Feature | Interest rate cap at 1.40% p.a. in Year 1 and Year 2 |
| 3-Year Lock-in FHR6 + 0.80% p.a. | |
|---|---|
| Year 1 | FHR6 + 0.80% p.a. |
| Year 2 | FHR6 + 0.85% p.a. |
| Year 3 | FHR6 + 0.90% p.a. |
| Year 4 and thereafter | FHR6 + 1.00% p.a. |
| Commitment Period | 3 Year Lock-in |
| Minimum loan amount | $100,000 |
| Special Feature | Interest rate cap at 1.60% p.a. from Year 1 to Year 3 |
| 5 Year Lock-in FHR6 + 0.80% p.a. | |
|---|---|
| Year 1 | FHR6 + 0.80% p.a. |
| Year 2 and thereafter | FHR6 + 1.00% p.a. |
| Commitment Period | 5-Year Lock-in |
| Minimum loan amount | $100,000 |
| Special Feature | Interest rate cap at 2.00% p.a. from Year 1 to Year 5 |
FHR6 refers to the prevailing 6 months Singapore Dollar fixed deposit interest rate for amounts S$1,000 to S$9,999 or such other sum as we may specify. FHR6 is currently 0.200% p.a.
3M SORA (3-Month Compounded Singapore Overnight Rate Average) refers to the SORA volume-weighted average rate compounded for 3 months period administered by the Monetary Authority of Singapore, published by the Monetary Authority of Singapore on or about 9:00 a.m, Singapore time, on the first business day of the relevant month or on such other date as we may determine.
Repricing your home loan is easier and faster, compared to refinancing your loan with another bank. Find out more here.
To learn more about fixed and floating rate packages, please click here.
After approval of your repricing request, you could now accept the offer online if all borrowers (including sureties) have a registered mobile number, email address and active Internet Banking with us. Click here to update your contact details.
Repricing Calculator
Find out how much you could save if you reprice.
Repricing fees and prepayment charges (for loans within lock-in period) may apply. For fees and charges please click here.
Redeem Your Loan
Notice: The loan redemption notice is reduced to 2 months with effect from 1 Jun 2021.
Selling your property or paying off your mortgage? Here's a guide to help you redeem your home loan.
Selling your property
We hope you had a good experience with DBS Home Advice. Please appoint a law firm to handle the sale, and to serve the bank 2 months' notice to redeem your loan.
Paying off your mortgage
Have you considered harnessing the potential of your liquidity for maximum returns? Instead of paying off your mortgage, you may want to invest your funds in other DBS products that could earn you higher returns. Get in touch with us and our Relationship Manager will reach out to you soon.
Nevertheless, if you would like to proceed to pay off your loan, follow these steps:
Step 1:
Complete and submit this form 2 months before the intended redemption.
Step 2:
Appoint a law firm to discharge this mortgage. The title deed will be returned to you.
Switching to another bank
We are sad to know that you are thinking of switching to another bank. We would like to connect with you to see how we could better serve you. Please touch base with us.
Partial Repayment (Repay your Loan)
Make an ad-hoc repayment to reduce your outstanding loan balance.
- Minimum amount is S$10,000, in multiples of S$1,000.
- Prepayment charges and/or clawback of fees will apply if the repayment is made within the commitment period.
- For payment in cash, the repayment amount will be deducted from your loan servicing account. For payment using CPF funds, please give your instruction to CPF Board after submission of your request to us, via the CPF website. Steps to do so are available here.
- Your instalment amount will be revised when you partial prepay while the remaining loan tenure remains unchanged.
What’s next?
You will receive a notification letter to inform you of the revised monthly instalment within two weeks after your partial repayment has been successfully processed. If you wish to revise your CPF monthly repayment amount, please do so via the CPF Website.
Changing your Loan Servicing Account
Complete the Loan Servicing Account Authorisation form and mail it to us.
Rates & Fees
- View latest SIBOR Rates
- View latest SORA Rates
- View latest Adjustment Spread (Retail) for SORA Conversion Package (for existing SOR accounts)
- Fixed Deposit Home Rate (FHR)
The Fixed Deposit Home Rate is calculated based on the prevailing fixed deposit interest rate of DBS Bank for amounts as stated in the Letter Of Offer. The prevailing S$ fixed deposit rates can be found here. - Home Loan Fee Schedule
Item Fee Change in loan tenure $250 Safekeeping of title deed for facility that has been fully repaid $300 per year Request for Statements (per statement)
Current year
Previous 2 years
More than 3 years
$20
$30
$50Administrative fee for use of third-party insurer for property insurance $100 per year
SOR transition to SORA
If you have an existing property loan that references to 3 months Singapore Dollar Swap Offer Rate (SOR), click here to find out more on SOR transition to SORA.
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