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Refinancing in Singapore Refinancing in Singapore Before applying any home loans, you may need to use home loan calculator to estimate your monthly house loan repayments. If your home loan is currently charging you more than 2.4% interest, you might be paying more than you need to, and should definitely consider refinancing. Refinancing your home loan in Singapore means reducing your monthly repayment amount by switching to a lower interest rate. This could mean switching to a new loan package within your current bank, or switching bank altogether. Here’s what you should know about refinancing in Singapore. 1. What is refinancing? Refinancing a home loan is a chance for homeowners to switch their home loan to another bank for a lower interest rate. This can help you save money in the long run. Refinancing is usually done after 4th year of your home loan or after. That is because typical home loan packages raise their interest rates after 3 years, afte...