# SORA Rate Today: 3M SORA and Home Loan Refinancing Calculator Latest SORA and 3M Compounded SORA from MAS with a history chart, plus a refinancing calculator that nets off legal fees, clawbacks and penalties. HDB vs bank loan too. Interactive tool: https://lookup.sg/tools/sora-refinance-calculator ## 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. ## Sources - [MAS: Domestic Interest Rates (SORA, Compounded SORA)](https://eservices.mas.gov.sg/statistics/dir/DomesticInterestRates.aspx) - [MAS: SORA explained](https://www.mas.gov.sg/monetary-policy/sora) - [HDB My Nice Home: Housing loans for HDB flats](https://www.mynicehome.gov.sg/get-started/hdb-loans-guide/) --- Source: Lookup (https://lookup.sg) · Data as of October 2026 · Listings compiled from Singapore government open data (data.gov.sg), OneMap and Overture Maps places. Free listings never show contact details; contact details appear only on Lookup Verified listings.