All insights

Bank guide · 2026

Maybank home loan Singapore: what the package actually looks like

By Winfred Quek · 8 minute read · Last reviewed August 2026

Facts verified: August 2026, package data dated 29 April 2026 · Sources linked below

Maybank is one of the banks Singapore buyers search for by name, and for good reason: it has historically priced competitively against the bigger local banks. But "competitive" is a moving target, rates get repriced, and the headline number on any comparison site is only ever a snapshot. This page sets out the structure of a Maybank home loan, what we can verify, what we cannot, and how to read it against the rest of the market.

What Maybank offers

In our most recent dated survey of Maybank's home loan packages, 29 April 2026, two package types were on offer:

Rates dated 29 April 2026. Package availability and pricing move; always confirm the live figure with Maybank.

Notice the step up on the floating package: the spread over SORA roughly quintuples from years 1 to 2 (0.20%) to year 3 onward (1.00%). That is not unusual, most bank floating packages step up after the initial period, but it means the "effective rate" you see quoted is not what you pay for the life of the loan. Read the full multi year schedule, not just the headline figure.

What a 1 month SORA peg means for you

Maybank's floating package in our data was priced off 1 month compounded SORA rather than the 3 month figure some other banks use. Both are derived from the same daily SORA readings published by the Monetary Authority of Singapore, the difference is the trailing averaging window. A 1 month peg reprices monthly, so your instalment reflects a shift in the benchmark faster, for better or worse, than a package pegged to a 3 month average, which smooths short term swings but reacts more slowly to a turning point. See the SORA explained guide for the fuller mechanics.

Lock in and what it means to leave early

Both Maybank packages in our survey carried a 2 year lock in, in line with the market norm. During a lock in period, fully redeeming the loan or refinancing to another bank typically triggers a penalty, commonly cited across the market at around 1.5% of the outstanding loan amount, and if the package came with a legal or cash subsidy, that subsidy is usually clawed back too if you exit before an agreed period, often 3 years from drawdown. Our data does not confirm Maybank's specific subsidy or clawback terms, so treat this as the general market pattern and confirm Maybank's own terms in writing before signing.

Who a package structured like this tends to suit

This is a structural read, not a recommendation for or against Maybank specifically.

• A fixed 2 year package with a competitive headline rate suits a buyer who wants payment certainty for the near term and plans to review the loan again at the 2 year mark, whichever bank is offering it.
• A floating package pegged to 1 month SORA suits someone comfortable with the instalment moving monthly with the benchmark, and who values a lower initial spread over a stepped up one later, provided they plan to review or refinance before the step up bites.
• Either package suits a buyer who is disciplined about diarising the end of the lock in, because the real cost of any home loan is decided as much by what happens after the lock in as by the number quoted on day one.

How to compare Maybank against other banks

Do not compare on the headline rate alone. Line up, for Maybank and every bank you are considering:

1. The full multi year rate schedule, not just year 1, since step ups after the lock in materially change the average cost.
2. The lock in length and the redemption penalty if you exit early.
3. Whether a legal or cash subsidy is offered, and its clawback window.
4. Whether free conversion to another package at the same bank is included, which can matter more than the headline rate if the rate cycle turns.
5. The minimum loan quantum and whether your loan size qualifies for the quoted tier.

The full Singapore mortgage rates comparison table lines Maybank up against DBS, POSB, OCBC, UOB, Standard Chartered, CIMB, HSBC, Citibank, Hong Leong Finance and RHB on the same dated basis.

What to ask before you sign

• What is the full rate schedule for years 1 through the end of the loan tenure, not just the lock in period?
• What is the exact lock in length and the redemption penalty if I sell, refinance, or fully redeem early?
• If a legal subsidy is offered, what is the clawback period and the exact amount?
• Does this package support progressive disbursement if I am buying a unit under construction, and how is interest calculated during the drawdown period?
• How many free conversions am I allowed, and can I exercise one before the lock in ends?
• What is the minimum loan quantum this rate applies to, and does my loan size qualify?

Frequently asked questions

What Maybank home loan packages are available in Singapore?

In our most recent survey, dated 29 April 2026, Maybank offered a 2 year fixed package and a floating package pegged to 1 month compounded SORA plus a spread, with the spread stepping up after year 2. Maybank did not have a 3 year fixed package in that survey. Package availability changes, so confirm what is currently on offer directly with Maybank or ask Winfred for a current comparison.

Is Maybank cheaper than DBS, OCBC or UOB?

In the same dated survey, Maybank's fixed 2 year headline rate was among the lowest of the banks compared, and its floating package spread was also relatively tight. But a lower headline rate is not the whole picture, lock in length, clawback terms, and the step up in spread after the lock in all affect the real cost, so a side by side comparison across the full package terms is worth doing before assuming Maybank is cheapest for your situation.

What is the lock in period on a Maybank home loan?

Maybank's packages in our survey carried a 2 year lock in, standard for the market. Redeeming or refinancing during the lock in typically triggers a penalty, commonly around 1.5% of the outstanding loan, and if the package included a legal subsidy, that is usually clawed back too. Confirm the exact clawback period and any subsidy terms with Maybank directly, as our data does not specify Maybank's own clawback window.

Does Maybank offer a home loan for BUC purchases?

Singapore banks broadly support progressive disbursement home loans for buildings under construction, drawing down the loan in step with construction milestones. Whether Maybank's current package structure fits your specific BUC purchase, and whether any interest absorption option is offered, is not something our data confirms, so ask Maybank or Winfred directly before assuming a specific structure. See the BUC progressive payment guide for the general mechanics.

Sources & References

• MAS: Singapore Overnight Rate Average (SORA)
• MAS Notice 645: Total Debt Servicing Ratio for Property Loans
• Winfred Quek: Singapore Mortgage Rates 2026, Compare Every Bank

Winfred Quek is an Associate Marketing Consultant at Crestbrick Pte Ltd (CEA Licence L31010886H), advising Singapore upgraders, investors, and families. CEA R073319H. The information on this page is general in nature and does not constitute financial, mortgage, or investment advice, and no bank or package is recommended. Always verify rates and terms with the bank before committing.