Singapore Mortgage Calculator — HDB Loan vs Bank Loan Comparison
Calculate monthly mortgage payments for HDB loans and bank loans in Singapore. Understand LTV TDSR and stamp duty for property buyers.
Singapore property buyers choose between HDB loans (for HDB flats only) at a flat 2.6% concessionary rate and bank loans (for HDB or private property) at market rates of 3.5-4.5% in 2026. Maximum loan-to-value (LTV) is 75% for bank loans and 80% for HDB loans — meaning you need 20-25% down payment. The Total Debt Servicing Ratio (TDSR) caps total monthly debt repayments at 55% of gross monthly income and the Mortgage Servicing Ratio (MSR) caps HDB mortgage payments at 30% of income. Buyer Stamp Duty (BSD) applies at 1-6% of purchase price. Additional Buyer Stamp Duty (ABSD) hits foreigners at 60% and citizens buying a second property at 20%. Our calculator handles all these overlapping rules.
What is TDSR in Singapore?
Total Debt Servicing Ratio (TDSR) is a MAS regulation capping your total monthly debt obligations — including the new mortgage plus car loans credit cards and personal loans — at 55% of gross monthly income. For mortgage qualification MAS assumes a stressed interest rate of 4% for bank loans even if actual rates are lower. Example: on SGD 10000 monthly income you can have total debt repayments of SGD 5500 including the new mortgage stressed at 4%. Existing car loans and credit card minimums count against this limit reducing your borrowing capacity.
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How This Calculator Works
This calculator uses the standard reducing balance method to compute your monthly payments. The formula takes your loan principal, annual interest rate, and tenure to calculate the exact Equated Monthly Installment (EMI) or payment amount. Each monthly payment consists of two components — principal repayment and interest charges. In the early months, a larger portion goes toward interest, but as your outstanding balance decreases, more of each payment reduces the principal. This is why making extra prepayments in the early years of your loan saves significantly more interest than prepaying later.
Tips to Get the Best Loan Deal
Always compare the Annual Percentage Rate (APR) rather than just the advertised interest rate, as APR includes processing fees, insurance charges, and other costs. Negotiate your processing fee — most banks will reduce or waive it if you ask. Choose the shortest tenure your budget allows since longer tenures dramatically increase total interest paid. Check prepayment terms before signing — RBI mandates zero prepayment penalty on floating rate home loans in India. Finally, maintain a credit score above 750 to qualify for the best rates from any lender.
Key Information
| Parameter | Details |
|---|---|
| HDB Concessionary Rate | 2.6% fixed |
| Bank Loan Rate (2026) | 3.5% - 4.5% |
| Maximum LTV (Bank) | 75% of purchase price |
| TDSR Limit | 55% of gross income |
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Use Calculator NowFrequently Asked Questions
What is TDSR in Singapore?
Total Debt Servicing Ratio (TDSR) is a MAS regulation capping your total monthly debt obligations — including the new mortgage plus car loans credit cards and personal loans — at 55% of gross monthly income. For mortgage qualification MAS assumes a stressed interest rate of 4% for bank loans even if actual rates are lower. Example: on SGD 10000 monthly income you can have total debt repayments of SGD 5500 including the new mortgage stressed at 4%. Existing car loans and credit card minimums count against this limit reducing your borrowing capacity.
HDB loan vs bank loan which is better?
HDB loans offer a stable 2.6% rate for the life of the loan — currently above most bank rates but providing certainty. Bank loans offer floating rates tied to SORA plus a margin (currently 3.5-4.5%) or fixed rates for 1-5 years. HDB loans allow 80% LTV and 10% cash down payment; bank loans require 75% LTV and 5% cash plus 20% CPF or cash. HDB loans have no early repayment penalty. Choose HDB for stability and higher LTV; choose bank for potentially lower rates and flexibility. You can refinance from HDB to bank loan but not the reverse.
How much stamp duty on Singapore property?
Buyer Stamp Duty: 1% on first SGD 180000; 2% on next SGD 180000; 3% on next SGD 640000; 4% on next SGD 500000; 5% on next SGD 1500000; 6% above SGD 3000000. On a SGD 1.5M property BSD is approximately SGD 44600. Additional Buyer Stamp Duty (ABSD): Singapore citizens pay 0% on first property 20% on second 30% on third+; PRs pay 5% first 30% second; foreigners pay 60% on any residential property. ABSD is paid in addition to BSD and is a major cost to factor into purchase decisions.
How is EMI calculated?
EMI is calculated using the formula: EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P is the principal loan amount, r is the monthly interest rate (annual rate divided by 1200), and n is the tenure in months. This gives you the fixed monthly payment that covers both principal repayment and interest.
Should I choose a longer or shorter loan tenure?
A shorter tenure means higher EMI but significantly less total interest paid. For example, on a Rs 50 lakh loan at 8.5%, choosing 15 years over 20 years saves approximately Rs 12 lakh in interest but increases your EMI by about Rs 14,000. Choose the shortest tenure your budget allows.
Can I prepay my loan to reduce interest?
Yes, making prepayments is one of the smartest financial moves. RBI mandates zero prepayment penalty on floating rate home loans. Even small annual prepayments of Rs 1-2 lakh can save Rs 10-20 lakh in total interest and reduce your tenure by years.
What CIBIL score do I need for a loan?
Most banks require a minimum CIBIL score of 700 for loan approval. A score above 750 helps secure better interest rates. Scores between 650-700 may still get approved but at 0.5-1% higher rates. Below 650, approval becomes difficult with mainstream banks.
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Last updated: March 2026