The Bank of China is a great option for individuals seeking a fixed rate home loan or home loan refinancing as it tends to offer very low fixed interest rates. However, it is worth noting that the bank does not typically offer competitive floating rate loans, nor does it offer loans for HDB flats. However, it offers some of the best inerest rates for fixed rate home loans for private housing in Singapore.

Table of Contents

• What Makes Bank of China Stand Out to Borrowers

• BOC Private Home Loans Interest Rates

• BOC Refinancing Home Loan Interest Rates

• Applicable Fees

• How to Apply: Application Process

• How Does The Bank of China Compare to Other Mortgage Lenders?

What Makes Bank of China Stand Out to Borrowers

The Bank of China (BOC) is generally one of the most affordable lenders in terms of fixed rate home loans and home loan refinancing in Singapore. While the bank is not usually the cheapest for floating rate home loans and home loan refinancing, it is tied to 3M Compounded SORA, meaning you can expect transparency with home loan rates. While the Bank of China does not offer loans for HDB flat purchases or refinancing, it is worth considering if you want a fixed rate home loan.

BOC Private Home Mortgage Loans Interest Rates as of January 2024

The Bank of China typically offers some of the cheapest fixed rate housing loans for private residences. In terms of total interest cost, BOC is one of the most affordable lenders in SIngapore for these types of loans. The table below displays its current fixed rates for home loans.

Unlike it's fixed rate loans, Bank of China's floating rate home loan products are typically less competitive. For this reason, its floating loans are better viewed as a backup option for those individuals that aren't able to obtain cheaper floating rates elsewhere.

BOC Refinancing Home Loan Interest Rates as of January 2024

In general, BOC offers very competitive fixed home loan refinancing rates for private residences. Below we display its current home loan refinancing rates for private homes.

Bank of China's floating refinancing rates are less competitive with those of other banks. With that said, these loans could be worth considering if you are not approved for a cheaper loan from another lender in Singapore. Below are the bank's current refinancing rates.

Bank of China Home Loans: Applicable Fees

BOC charges fees for partial repayment, full redemption and loan cancellation. The lender's charges are comparable with other banks in Singapore. Below, we display BOC fees by loan type.

How to Apply for a Bank of China Mortgage Loan: Application Process

The Bank of China only requires a minimum annual income of S$24,000, unlike other other home loans who typically require a minimum income of S$30,000. Moreover, since home loan applications entail several steps and require many documents, we recommend that you consult our home loan broker partner. You can do this by clicking by clicking any of the "Check Rates" buttons on this page.

How Does The Bank of China Compare to Other Mortgage Lenders?

It is not uncommon for home loan interest rates to change every few days in Singapore. For this reason, it is crucial to compare rates before applying for your home loan. The table below features updated fixed rate interest rates from Singapore's top lenders.

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