SORA Rate Today: 3M SORA and Home Loan Refinancing Calculator
SORA today
Value date 8 Oct 2026, published by MAS on 09 Oct 2026
3M Compounded SORA
1.2310%
1.4209% a year earlier
1M Compounded SORA
1.2902%
1.3074% a year earlier
Overnight SORA
1.2985%
1.2430% a year earlier
Oct 2026: 3M Compounded 1.2310%, overnight average 1.3137%
Show the monthly figures
| Month | 3M Compounded | Overnight avg |
|---|---|---|
| Oct 2026 | 1.2310% | 1.3137% |
| Sep 2026 | 1.2336% | 1.2386% |
| Aug 2026 | 1.1863% | 1.2733% |
| Jul 2026 | 1.1354% | 1.1646% |
| Jun 2026 | 1.0825% | 1.0883% |
| May 2026 | 1.0564% | 1.1501% |
| Apr 2026 | 1.0298% | 1.0044% |
| Mar 2026 | 1.0708% | 1.0194% |
| Feb 2026 | 1.1219% | 1.0274% |
| Jan 2026 | 1.1502% | 1.1307% |
| Dec 2025 | 1.1857% | 1.1592% |
| Nov 2025 | 1.2530% | 1.1142% |
| Oct 2025 | 1.3203% | 1.1965% |
| Sep 2025 | 1.4532% | 1.3325% |
| Aug 2025 | 1.5638% | 1.3739% |
| Jul 2025 | 1.8450% | 1.6145% |
| Jun 2025 | 2.0533% | 1.7155% |
| May 2025 | 2.2692% | 2.1794% |
| Apr 2025 | 2.3587% | 2.2344% |
| Mar 2025 | 2.5507% | 2.3953% |
| Feb 2025 | 2.7291% | 2.4692% |
| Jan 2025 | 2.8993% | 2.7644% |
| Dec 2024 | 3.0346% | 2.9021% |
| Nov 2024 | 3.2147% | 2.9794% |
| Oct 2024 | 3.3769% | 3.1967% |
| Sep 2024 | 3.4932% | 3.4241% |
| Aug 2024 | 3.5694% | 3.4690% |
| Jul 2024 | 3.6381% | 3.5117% |
| Jun 2024 | 3.6336% | 3.6560% |
| May 2024 | 3.6597% | 3.6723% |
| Apr 2024 | 3.6491% | 3.5049% |
| Mar 2024 | 3.6829% | 3.7290% |
| Feb 2024 | 3.6488% | 3.6341% |
| Jan 2024 | 3.6548% | 3.6205% |
| Dec 2023 | 3.7018% | 3.6501% |
| Nov 2023 | 3.7464% | 3.6272% |
| Oct 2023 | 3.7527% | 3.7341% |
| Sep 2023 | 3.7017% | 3.7475% |
| Aug 2023 | 3.6964% | 3.6489% |
| Jul 2023 | 3.6748% | 3.5803% |
| Jun 2023 | 3.6549% | 3.7310% |
| May 2023 | 3.6241% | 3.6334% |
| Apr 2023 | 3.6057% | 3.4841% |
| Mar 2023 | 3.5775% | 3.6687% |
| Feb 2023 | 3.2206% | 3.4770% |
| Jan 2023 | 3.1419% | 3.3863% |
| Dec 2022 | 3.0294% | 2.5468% |
| Nov 2022 | 2.9243% | 3.2430% |
| Oct 2022 | 2.4613% | 3.0675% |
| Sep 2022 | 2.0655% | 2.3096% |
| Aug 2022 | 1.5967% | 1.8925% |
| Jul 2022 | 1.2712% | 1.8070% |
| Jun 2022 | 0.7720% | 1.0045% |
| May 2022 | 0.5263% | 0.8892% |
| Apr 2022 | 0.3227% | 0.3077% |
| Mar 2022 | 0.2760% | 0.2977% |
| Feb 2022 | 0.2504% | 0.2749% |
| Jan 2022 | 0.2065% | 0.2132% |
| Dec 2021 | 0.1943% | 0.2191% |
| Nov 2021 | 0.1579% | 0.1534% |
| Oct 2021 | 0.1555% | 0.1815% |
| Sep 2021 | 0.1306% | 0.1265% |
| Aug 2021 | 0.1300% | 0.1303% |
| Jul 2021 | 0.1321% | 0.1143% |
| Jun 2021 | 0.1326% | 0.1218% |
| May 2021 | 0.1679% | 0.1382% |
| Apr 2021 | 0.1862% | 0.1175% |
| Mar 2021 | 0.2216% | 0.2100% |
| Feb 2021 | 0.1996% | 0.1783% |
| Jan 2021 | 0.1694% | 0.1461% |
| Dec 2020 | 0.1661% | 0.1749% |
| Nov 2020 | 0.1160% | 0.1035% |
| Oct 2020 | 0.1167% | 0.1277% |
| Sep 2020 | 0.0988% | 0.0922% |
| Aug 2020 | 0.0985% | 0.0984% |
| Jul 2020 | 0.0811% | 0.0862% |
| Jun 2020 | 0.1411% | 0.0964% |
| May 2020 | 0.2707% | 0.0514% |
| Apr 2020 | 0.5340% | 0.2490% |
| Mar 2020 | 0.8809% | 0.4562% |
| Feb 2020 | 1.1404% | 0.9802% |
| Jan 2020 | 1.2023% | 1.1120% |
Refinancing calculator
Your loan
Current package
The rate you pay now, or will pay once your lock-in ends.
New package
Enter the quote you have. The defaults are placeholders, not market rates.
= 1.63% at today's 3M SORA
Switching costs
Editable assumptions: use the figures in your letter of offer.
Subsidies you must repay if you leave within the clawback period.
Net saving over 2 years
S$15,460
- Current rate
- 3.20%
- New rate
- 1.63%
- Current instalment
- S$2,908/mth
- New instalment
- S$2,437/mth
- Interest saved over 2 yrs
- S$18,460
- Switching costs
- S$3,000
- Break-even
- Month 4
If 3M SORA averaged 1 percentage point higher (2.23%), the net saving would be S$3,717.
- Interest at the current rate, first 24 monthsS$37,418
- Interest at the new rate, first 24 monthsS$18,958
- Legal and valuation feesS$3,000
SORA-pegged rates reset as SORA moves. This calculator holds 3M Compounded SORA at today's 1.2310% for the whole period, so treat a SORA package's result as today's snapshot, not a forecast.
HDB loan vs bank loan
Same S$600,000 over 25 years: the HDB concessionary rate (2.60%) against the new bank package above (1.63%), both held flat for the full tenure.
HDB loan at 2.60%
S$2,722/mth
S$216,605 total interest
Bank loan at 1.63%
S$2,437/mth
S$131,017 total interest
Bank cheaper by
S$285/mth
S$85,588 over 25 years
You can refinance an HDB loan to a bank, but you cannot switch back to an HDB loan later. The HDB rate is pegged at 0.1% above the CPF Ordinary Account rate and reviewed quarterly, while a bank rate can rise after the lock-in, so compare more than today's instalment.
How this works
SORA (Singapore Overnight Rate Average) is the volume-weighted average rate of unsecured overnight interbank borrowing in Singapore dollars, published by MAS at 9am on the next business day. Home loans are priced off Compounded SORA, the overnight rate compounded over the past 1 or 3 months; most bank packages use 3M Compounded SORA plus a spread. The figures here come straight from MAS's Domestic Interest Rates statistics and are refreshed from that source.
The refinancing calculator works out the level monthly instalment (monthly rests) on your outstanding loan and remaining tenure at the current and the new rate, then adds up the interest each would charge over the new package's lock-in. The net saving is that interest difference minus the cost of switching: legal and valuation fees, any clawback of subsidies owed to your current bank, and a prepayment penalty if your current loan is still locked in, less any subsidy the new bank pays. Break-even is the month when the interest saved covers those costs.
A SORA-pegged rate is held at today's 3M Compounded SORA for the whole period, so the result is a snapshot, not a forecast. When only one of the two packages floats with SORA, the calculator also shows the result if SORA were 1 percentage point higher.
The HDB comparison uses the HDB concessionary rate of 2.6% a year (0.1% above the CPF Ordinary Account rate, unchanged for October to December 2026) against the new bank package, both held flat for the full tenure.
FAQs
What is the 3-month SORA rate today?
3M Compounded SORA was 1.231% for 8 October 2026, published by MAS on 09 Oct 2026. Overnight SORA was 1.2985% and 1M Compounded SORA 1.2902% on the same day.
How much do I save by refinancing my home loan?
Refinancing S$600,000 over 25 years from 3.20% to 1.631% cuts the instalment from S$2,908 to S$2,437 a month and saves S$18,460 in interest over a 2-year lock-in. After S$3,000 in legal and valuation fees, the net saving is S$15,460.
Is an HDB loan or a bank loan cheaper?
It depends on the bank rate. A S$600,000 HDB loan over 25 years at 2.6% costs S$2,722 a month and S$216,605 in total interest. A bank loan below 2.6% is cheaper while its rate stays there, but bank rates can rise after the lock-in and you cannot move back from a bank loan to an HDB loan.
What costs should I include when refinancing?
Legal fees and a valuation fee for the new loan, any clawback of legal or valuation subsidies if you leave your current bank within its clawback period, and a prepayment penalty if your current loan is still in its lock-in. Many banks offset part of this with a legal subsidy or cash rebate, so use the figures in your letter of offer.
What is the difference between SORA and 3M Compounded SORA?
SORA is a single day's overnight rate. 3M Compounded SORA compounds those daily rates over the previous three months, so it moves more slowly and is the benchmark most Singapore home loans use, reset every 3 months.