The comparison most people get wrong
Fixed or floating?
Both packages look close on day one. The gap opens up years later, on an assumption nobody can verify. Set that assumption yourself and watch which side wins.
What actually separates them
A fixed package holds one number for two or three years. You pay a premium over the floating rate for that, and you accept a lock-in. It is worth it when the payment is tight enough that a rise would genuinely hurt.
A floating package tracks SORA plus a spread, so it moves every quarter. Most carry no lock-in, which means you can refinance the moment something better appears — a real option that the comparison table never prices.
Fixed packages revert when the fixed period ends, usually to a floating rate. So the choice is not fixed forever against floating forever. It is a few years of certainty, bought at a premium, against a few years of market rates.
Ask both banks for the spread over SORA after the lock-in, not just the first-year rate. That spread is the number you carry for the remaining twenty years, and a lower headline often hides a wider one.
Drag the slider a quarter of a point. If the winner flips, the two packages are effectively the same product with different marketing, and you should choose on lock-in length and prepayment terms instead of on the totals.
Reading the comparison
The two cards show each package on its own terms: what you pay now, what you pay later, and what the interest adds up to. The runway underneath draws the floating path your slider just described. Nothing on this page is a prediction — it is a way of finding out how sensitive your decision is to a future that neither you nor the bank can see.
Common questions
Which is cheaper right now?
It depends entirely on the rate you assume after year one. Move the slider up and fixed usually wins; move it down and floating does. If a small move changes the answer, the difference is not real.
Can I switch from floating to fixed later?
Yes, by repricing with the same bank or refinancing to another. Repricing is cheaper and faster; refinancing usually gets you a better rate. Either way, check whether a lock-in still applies.
What is a lock-in period?
The window in which redeeming the loan costs you a penalty, typically around 1.5% of the amount redeemed, plus any legal subsidy clawed back. Fixed packages almost always have one; floating packages often do not.
Do fixed rates go up when I renew?
The fixed rate itself does not change during its term. What changes is the rate it reverts to at the end, which is set by the market at that point, not by the package you signed.
Should I fix for two years or three?
Longer certainty usually costs a little more and locks you in for longer. If you might sell or upgrade inside that window, the shorter fix is often worth its slightly higher rate.