What will my bank loan cost?
Answer three short questions. You get the instalment you pay now, the instalment after the fixed period ends, and the total interest across the whole loan.
- Your instalment now, and after the fixed rate ends
- Live SORA from MAS, updated every weekday
- Free WhatsApp reminder before your lock-in ends
- Nothing you type leaves your browser
Free check: your monthly instalment
3 questions, about 1 minute. No sign-up.
Floating home loans move with SORA, which MAS publishes every business day.
See the chartYour figures in full
The four numbers that decide everything
Three things that catch people out
- The rate expires
You are quoted a rate for two or three years, not for the loan. After that it reprices to SORA plus a spread — and the spread is the number you carry for the next twenty years.
- Repricing recalculates
The bank rebuilds the instalment over the tenure still left, so a rate moving from 2.65% to 3.4% does not raise your payment by the same proportion.
- The lock-in is the commitment
If you might sell or refinance within two years, a slightly worse rate with no lock-in is often the cheaper package.
Budget for the second number, not the first. The instalment after the fixed period is the one you live with for most of the loan. If that figure is uncomfortable, the package is too expensive — however good the teaser looks.
How BankLoan.sg works
Free tools, then a reminder when it matters. Tap a step to see it.
- Free, no sign-up
- Your figures stay in your browser
- We never sell your number
1Run your numbersFree · about 1 minuteYou
You: answer three short questions on any of the calculators.
We: work out the instalment, the comparison or the limit, in your own browser. Nothing you type is sent anywhere.
You get: the answer, the charts, a link that brings the same figures back, and a PDF.
2Set your lock-in dateFree · 10 secondsYou
You: pick the month your lock-in ends and send one WhatsApp message. No sign-up, no NRIC, no loan details.
We: count back the four dates that matter: start comparing, give notice, accept an offer, final check.
3We remind youFree · 4 WhatsApp messagesUs
We: message you 4, 3, 2 and 1 month before your lock-in ends. Each one says what to do at that point, with today's SORA from MAS.
Reply STOP at any time and they stop. Reply with a question and a person answers.
4You choose, you switchYourself, or with our helpYou
You: compare your bank's repricing offer with today's packages on the comparison and the refinance calculator. Deal with your bank yourself, or ask us to help you apply: we check the package and pass your details to our contact at the bank, once you agree.
You pay us nothing. If you take up a loan we helped you apply for, the bank or our referral partner may pay us a referral fee. Ask us and we'll tell you whether one applies to your case.
Never miss your lock-in
A fixed rate lasts two or three years, not the whole loan. When the lock-in ends, the loan moves to the rate in your letter of offer, which is usually higher, and most people only notice when the instalment changes. Refinancing takes 6 to 8 weeks, so the real deadline is about 4 months before.
- One question. The month your lock-in ends. No sign-up, no NRIC, no loan details.
- WhatsApp reminders, free. A message 4, 3, 2 and 1 month before, each with what to do at that point and today's SORA.
- Or your own calendar. One tap adds the same dates to iPhone, Google or Outlook.
- Your number stays with us. A reminder sign-up is used only for your reminders. We share your details with a bank only if you ask us to help you apply. Reply STOP at any time.
Reminders come from the Kydos assistant on WhatsApp (+65 8311 7524), run by the team behind AnnualFiling.sg. We never sell your number. We pass your details to a bank contact or referral partner only when you ask us to help you apply, and only after you agree in the chat. See the privacy notice.
Free lock-in reminder
No sign-up, no payment. About 10 seconds.
Common questions
What is SORA?
The Singapore Overnight Rate Average, published by MAS. Most floating packages are priced as SORA plus a fixed spread, so your rate moves with SORA but the spread stays put for the life of the loan.
Can I use CPF for a bank loan?
Yes, for the instalment and for part of the downpayment. But at least 5% of the price must be cash if this is your only housing loan (10% on a tenure long enough to cut the limit to 55%), and 25% if it is not.
What is the longest tenure?
Thirty-five years for private property, thirty for an HDB flat on a bank loan. Going past thirty years, or past age sixty-five, cuts how much you can borrow.
Is a bank loan cheaper than an HDB loan?
Usually for the first few years, rarely for all of them. The HDB rate barely moves; a bank rate can. Our fixed-versus-floating page lets you test where the crossover sits.
Can I repay early?
Inside the lock-in, expect a penalty of about 1.5% of what you redeem. Most packages allow partial prepayment of a set percentage each year without charge — ask for that clause in writing.