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How It Works

Comparing, explained without the jargon.

Refinancing means replacing your current home loan with a new one — usually from a different bank — to get a lower interest rate or better terms. It's not the same as a new home purchase loan, and for owner-occupied homes it doesn't require you to requalify under TDSR unless you're increasing your loan amount or taking cash out.

Mortgage refinancing, in five steps

  1. Tell us your current loan details

    Bank, rate, remaining lock-in, and outstanding amount.

  2. We compare live packages across the market

    And calculate your real savings after legal and valuation fees.

  3. You review the numbers

    No pressure, no commitment — just the figures.

  4. We help you apply

    And handle the paperwork with the new bank if it makes sense to proceed.

  5. Your loan switches over

    Your existing loan is redeemed and the new package takes over. Most homeowners see the switch complete within 8–10 weeks.

Key mortgage terms, defined

SORA
The benchmark rate Singapore banks use to price floating-rate home loans.
Lock-in period
The years during which redeeming or refinancing your loan triggers a penalty, typically 1.5%–2% of the outstanding amount.
TDSR
Total Debt Servicing Ratio, capped at 55% of gross monthly income; applies to all property loans, but not to a straightforward owner-occupied refinance.
MSR
Mortgage Servicing Ratio, capped at 30% of gross monthly income; applies only to HDB flats and ECs.

Motor insurance renewal comparison, in five steps

  1. Tell us your current policy details

    Insurer, premium, NCD, coverage type, and renewal date.

  2. We compare quotes across Singapore's insurers

    Matching your NCD, coverage level, and workshop preference like-for-like.

  3. You review the numbers

    Side-by-side premiums, so you can see exactly what changes and what stays the same.

  4. We help you switch, if it makes sense

    Your NCD carries over — switching insurers doesn't reset your no-claims discount.

  5. Your new policy starts on renewal

    Timed to your existing policy's expiry, so there's no gap in coverage.

Key insurance terms, defined

NCD (No Claims Discount)
A discount that grows 10% a year you don't claim, up to a maximum of 50%. It carries over when you switch insurers — a single at-fault claim typically steps it down two tiers.
Excess
What you pay out of pocket per claim before your insurer covers the rest. Standard excess is typically S$600; opting for a higher voluntary excess can lower your premium.
Workshop type
Authorised-workshop-only plans are cheaper; any-workshop plans cost more but give you free choice of repairer.
Comprehensive vs. Third-Party
Comprehensive covers your own vehicle plus third parties; third-party-only is the legal minimum and covers only damage you cause to others.

See what comparing could save you

Two minutes, no obligation, no cost — for either service.

Mortgage Savings Calculator Compare Insurance Premiums

FAQ

Frequently asked questions

Does refinancing cost me anything?

No — we're paid by the bank on successful drawdown, not by you.

Will refinancing affect my CPF?

It can, particularly for HDB owners — accrued interest on CPF used for your existing loan is a factor we walk through as part of your report.

Do I need to requalify under TDSR to refinance?

Not for a straightforward owner-occupied refinance that doesn't increase your loan amount or involve cash-out.

What if I'm still in my lock-in period?

We factor in the redemption penalty and show you the breakeven point — sometimes it's still worth switching, sometimes it's worth waiting, and we'll tell you either way.

How long does refinancing take?

Most cases complete within 8–10 weeks from application to the new loan taking over.

Does comparing car insurance affect my NCD?

No — your No Claims Discount carries over regardless of which insurer you compare with or switch to.

What information do I need for an insurance comparison?

Your current premium, NCD, coverage type (comprehensive, TPFT, or TPO), and workshop preference. Your vehicle's registration details help us get precise quotes.

Is comprehensive cover always the better choice?

Not always — it depends on your vehicle's value and your risk tolerance. We'll walk through the trade-offs as part of your comparison, not just default you into the priciest option.

How is RefinanceSG paid for car insurance referrals?

We receive a commission from the insurer when a policy is placed through us — never a fee from you.

Is my information kept confidential?

Yes — your details are used only to prepare your comparison and, if you choose to proceed, your application. Exact data handling and PDPA language to be confirmed before launch.