Compare Fixed Rate Mortgages in Singapore
A fixed rate mortgage in Singapore gives you a fixed home loan interest rate for a set period, usually 2 or 3 years. This helps keep your monthly repayments predictable during the lock-in period, especially if you want protection against rate changes.
Fixed home loan rates are not always cheaper than SORA floating packages - in fact, they often carry a slight premium, so the key is to compare the total cost over the lock-in period. Before locking in, check the fixed rate, thereafter rate, free conversion terms, legal subsidy clawback and whether the package fits your refinancing or property plans.
LoanSaver helps you compare fixed and floating packages across banks. If you are unsure which structure suits you, speak to a mortgage broker in Singapore before you commit.
Latest Fixed Home Loan Rates in Singapore
Fixed rate packages in Singapore typically come with different lock-in periods. In addition, some banks may price each year differently across the lock-in. With over 16 banks and financial institutions offering home loans in Singapore, the range of packages can be overwhelming. Each bank has different rates, lock-in periods, perks, and approval criteria that change frequently. To help you compare quickly, we’ve highlighted the best fixed rates available today. Below, you’ll find the top 2 fixed rate packages in the market currently, along with the key terms that matter most when choosing a fixed rate mortgage.
* Updated as of: Oct 2026
2-Year Fixed Rate
1.75%*
Free Conversion after 12 months
Refinance Legal Subsidies/Valuation Subsidies
Min $1m
3-Year Fixed Rate
1.85%*
Free Conversion after 12 months
Refinance Legal Subsidies/Valuation Subsidies
Min $1m
* Rates shown are for general reference only and may change without notice. Actual packages, interest rates, lock-in periods, legal subsidies, free conversion options, clawback terms and eligibility may vary depending on the bank, property type, loan amount, loan purpose, borrower profile and prevailing promotions. Please confirm the latest available package before making a decision.
Should You Choose Fixed or Floating if SORA May Be Near a Bottom in 2026?
If SORA is still falling, floating rate packages may look cheaper in the short term because the interest rate can adjust with market rates. A fixed rate mortgage may carry a premium because you are paying for repayment certainty during the fixed period.
That certainty still matters to many homeowners. A May 2026 report by The Straits Times highlighted that many Singapore homeowners continued to prefer fixed-rate mortgages despite cheaper floating rates, mainly for more predictable repayments and protection against possible future rate hikes.
However, fixed is not automatically better. If SORA continues to fall, floating rates may still offer lower short-term costs. If SORA rebounds or banks adjust their spreads, a fixed rate package can provide more stability over the lock-in period. The key question is whether the fixed-rate premium is worth paying for predictable monthly repayments.
How to Compare Fixed vs Floating in the Current Rate Cycle
- Compare the total cost over the lock-in period, not just the first-month rate.
- Check whether the fixed package allows free conversion if rates fall further.
- Review the current SORA rate trend before deciding whether to lock in.
- Consider your refinancing timeline, especially if your existing lock-in is ending soon.
- Choose fixed rates if repayment certainty matters more than chasing the lowest possible floating rate.
There is no need to predict the exact bottom of SORA. A better approach is to compare fixed and floating packages based on your loan size, property type, risk tolerance, lock-in period and future refinancing plans.
Advantages and Disadvantages of Fixed Rate Home Loans
A fixed rate mortgage offers stability, but it may also come with trade-offs depending on the interest rate environment and your financial plans. Here is a straightforward look at the key pros and cons.
Advantages of Fixed Rate Mortgages
1. Predictable Monthly Repayments
Your instalments remain the same throughout the fixed period, making it easier to plan and manage your monthly cash flow. There are no surprises even if market rates move sharply.
2. Protection Against Rising Interest Rates
If interest rates rise during your fixed period, you continue to enjoy the benefit of keeping your loan at the earlier fixed rate. This helps shield your repayments from volatility in benchmarks such as SORA.
3. Easier Budgeting for Long-Term Planning
Fixed rates give homeowners and families more clarity over expenses, especially when planning for renovations, childcare, investments or other financial commitments.
Disadvantages of Fixed Rate Mortgages
1. Higher Interest Rates Compared to Floating
Fixed packages may come with a premium because the bank bears the risk of rate fluctuations. When market rates are expected to fall, floating packages may offer lower costs.
2. Limited Flexibility During the Lock-In Period
Leaving or refinancing your loan during the lock-in period usually results in penalties. This can limit your ability to switch to a cheaper rate if the market moves in your favour. Read our mortgage lock-in period guide to know what to check before committing to a fixed-rate package.
3. Less Opportunity to Benefit from Falling Rates
If interest rates decline during your lock-in, you may not automatically enjoy lower instalments. Floating packages may offer more savings during periods of downward rate movement.
LoanSaver compares fixed and floating home loan packages across major banks and financial institutions in Singapore. Because each bank has different fixed-rate periods, lock-in terms, free conversion options and minimum loan sizes, comparing across banks helps you avoid choosing based on headline rate alone.
Different banks price fixed-rate packages differently depending on property type, loan size and refinancing timeline. Compare both the rate and package terms before locking in.
If you will like more information specific to your property type, you can also explore our dedicated guides for private property home loans and HDB bank loans. These pages cover eligibility rules, loan structures, and key considerations specific to each property type, helping you narrow down the most suitable fixed rate package.
Is a Fixed Rate Mortgage Right for You?
Choosing between a fixed or floating mortgage depends on your financial goals, cash flow preferences, refinancing timeline and view of future interest rates. Fixed rates offer repayment stability, while floating rates may provide lower interest costs during periods of declining SORA. This decision becomes especially important when it is nearing the time to refinance your home loan.
Who should consider a fixed rate mortgage?
- Homeowners who prefer predictable monthly repayments
- Borrowers who are concerned that rates may rebound after falling
- Families who need stable cash flow for budgeting
- Borrowers who do not plan to sell or refinance during the lock-in period
- First-Time Homeowners and those new to mortgages, for a worry-free experience
Who may prefer a floating rate package?
- Borrowers who believe SORA may continue to fall
- Homeowners who are comfortable with repayment changes
- Borrowers who want the flexibility to benefit if market rates decline
- Homeowners who may sell, refinance, decouple or restructure the loan soon
Before locking in, compare the fixed rate, floating rate, lock-in period, free conversion terms, legal subsidy clawback and your likely refinancing timeline. The lowest headline rate may not be the best package if the loan structure does not fit your plans.
Need Help Comparing Fixed and Floating Packages?
Different banks may price fixed-rate packages differently depending on your loan size, property type, repayment profile and refinancing timeline. An experienced mortgage advisor can help you compare the total package terms, not just the advertised interest rate.