1
Your lock-in is ending
Most packages have a 2- or 3-year lock-in. The sweet spot to negotiate a new package is the 4–6 months before lock-in expiry. Outside this window, prepayment penalties usually wipe out the savings.
Refinance Savings Calculator Singapore
Switching just 0.3% lower on a S$800,000 loan saves about S$2,400 a year. This tool shows your monthly savings, the break-even point on switching costs, and total interest saved over the remaining tenure — at today's best Singapore rates.
Your Current Loan
Inputs update results live. We never store your numbers.
Legal, valuation, and bank admin fees.
Most refinance packages subsidise up to S$2,500 in legal & valuation fees.
Net out-of-pocket cost
S$500
Tip: If you're inside your lock-in period, switching usually triggers a 1.5% prepayment penalty on the outstanding balance — add that to switching costs above.
Strategy
When Is The Right Time To Refinance?
The right window is narrower than most homeowners think. These are the three signals every Singapore mortgage broker watches.
2
Rate spread is 0.3% or more
As a rule of thumb, a refinance pays off when the new rate is at least 0.3% lower than your current rate, holding tenure constant. Below 0.3%, switching costs and admin friction usually erase the gain.
3
You have ≥ 5 years left
The shorter your remaining tenure, the smaller the absolute savings. Below 5 years remaining, refinancing rarely makes sense unless you also need to extend tenure or unlock equity.
The Process
A Singapore Refinance, End To End
From the day you say yes to the day your new package starts, a Nexus-managed refinance typically takes 4–6 weeks. We coordinate the bank, lawyer, valuer, and your existing lender on your behalf.
You sign two main documents — the new bank's letter of offer and the law firm's mortgage instructions — and we handle the rest.
-
1Bank comparison (Day 1–3) We benchmark your profile against current packages from all 16 banks and shortlist 2–3 best-fit options.
-
2Letter of offer (Week 2) Submit documents and receive the formal Letter of Offer. We negotiate spread cushions and legal subsidies on your behalf.
-
3Lawyer + redemption (Weeks 3–5) Solicitor sends redemption notice to your current bank, prepares mortgage documents, and coordinates valuation.
-
4Drawdown (Week 6) New loan is disbursed, old loan is redeemed, and your first repayment under the new package starts the following month.
FAQ
Refinancing Questions
When should I refinance my home loan in Singapore?
Start reviewing about 4–6 months before your lock-in ends — a Letter of Offer is usually valid for that window. The usual triggers are a lock-in expiring, your rate stepping up after the teaser years, or a meaningful gap between your current rate and market packages. Still inside the lock-in? An early redemption penalty of around 1.5% of the outstanding loan typically applies.
How much can I save by refinancing?
Savings scale with the rate gap and your outstanding loan. As a rough guide, shaving 0.5% off a S$800,000 loan saves roughly S$4,000 in interest in the first year. Net the legal and valuation costs against the saving — on larger loans banks often give a subsidy that offsets most of the switching cost. Use the calculator above for your own numbers.
What is the difference between repricing and refinancing?
Repricing means moving to a new package with your existing bank — faster, with little or no legal work, but a narrower choice of rates. Refinancing means switching to a new bank, which involves legal and valuation steps but opens up the full market and any new-loan subsidies. We compare both so you take whichever nets out cheaper.
Are there costs to refinance?
Mainly conveyancing legal fees of around S$1,800–2,500 and a valuation fee of a few hundred dollars. Many banks offer a legal subsidy or cash rebate on loans above roughly S$500,000, which can cover most of it. Also check whether you are still within your current lock-in, which would add an early redemption penalty.
Does TDSR apply when I refinance?
For an owner-occupied home, refinancing is generally exempt from the 55% TDSR limit, so you can usually switch even if your TDSR is above the cap. For investment properties, TDSR still applies unless you meet MAS's transitional conditions. We check your specific case before submitting — see our when-to-refinance guide.
Ready to lock in a better rate?
We'll do the bank comparison, paperwork, and timeline coordination — at zero cost to you.
WhatsApp Us →