Should I refinance my HDB loan to Bank Housing loan?

I have a HDB loan (balance ~$550k left, tenure ~18 years left), paying about $3200 a month. As all are aware, HDB loan interest rate is at 2.6%. I am thinking of refinancing it to a bank loan, with interest rates generally lower than 2%.

I have calculated that I can generate savings of $200-$300 a month if I were to convert to bank loan. I believe banks provide subsidy to waive legal fees.

Other than savings above, any benefits or considerations I should take note of?

Thanks!