By MoneyBees
Estimate your HDB concessionary loan repayments, total interest, downpayment split, and MSR/TDSR position.
2.6% per annum, pegged at the CPF Ordinary Account rate (2.5%) + 0.1%. The rate is reviewed quarterly but has been stable at this level for over a decade.
Singapore Citizens (with at least one Singaporean co-applicant for families) buying an HDB flat, subject to income ceilings: S$14,000/month for families (S$21,000 for extended families) and S$7,000 for singles buying 2-room flexi. You must not own private property and must have a valid HFE letter.
MSR caps your monthly mortgage at 30% of gross monthly income (for HDB and EC). TDSR caps total monthly debt obligations (including the mortgage + car loans + credit cards + other loans you enter) at 55% of gross monthly income. The calculator shows pass/fail for both based on your inputs.
Minimum 25% downpayment (since LTV is 75%). It can be paid entirely from CPF Ordinary Account, entirely in cash, or any combination. No minimum cash component is required — a key advantage over bank loans (which need at least 5% cash).
Yes — you can refinance to a bank loan at any time. The reverse is not allowed: once you've taken a bank loan for an HDB flat, you can't switch back to the HDB concessionary loan.
It can be. The HDB rate is steady at 2.6%, but in 2026 some bank packages fell below it (fixed rates around 1.4% and SORA-pegged rates near 1.3%). Banks are riskier (rates can rise, you need 5% cash down, and there's a lock-in), but the lower rate can save interest. Compare both and watch for refinancing later.
The HDB Flat Eligibility (HFE) letter replaced the HLE letter. It confirms your eligibility to buy a flat, take an HDB loan, and receive grants, and it's required before you book a flat or get an Option to Purchase. It's valid for about 9 months. Get it early.
The maximum HDB concessionary loan tenure is 25 years (capped so it doesn't run past age 65 with the LTV limit). You can take at most two HDB concessionary loans in your lifetime, and a second one may require a partial cash refund from the sale of your previous flat.
No. It estimates your loan, repayment, downpayment split and MSR/TDSR position. Buyer's Stamp Duty and CPF Housing Grants (like the EHG, up to S$120,000 for families) are separate — use the stamp duty and BTO affordability calculators to factor those in.
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