HDB loan calculator
By MoneyBees
Estimate your monthly repayment, total interest, downpayment split, and MSR / TDSR position for an HDB flat in Singapore.
Calculator
Property and loan
HDB loan: min 25% downpayment (can be fully CPF OA + cash)
Used to check MSR (max 30%) and, for bank loans, TDSR (max 55%). HDB sizes its loan at a 3% floor; banks test at 4%.
Car loan, study loan, personal loan, credit card minimums. Bank loans only: added to the mortgage for TDSR.
Monthly payment
$1,871
over 25 years
Loan amount
$412,500
75% of price
Total interest
$148,916
paid over loan life
Downpayment split
Cash
$27,500
5% of price
CPF OA / extra cash
$110,000
20% of price
Affordability checks
MSR: Mortgage Servicing Ratio
Max 30% of gross monthly income for HDB / EC
24.5%
Within limit
TDSR does not apply to an HDB loan. HDB checks MSR only.
Amortisation by year
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $10,584 | $11,872 | $400,628 |
| 2 | $10,272 | $12,185 | $388,443 |
| 3 | $9,951 | $12,505 | $375,937 |
| 4 | $9,622 | $12,834 | $363,103 |
| 5 | $9,284 | $13,172 | $349,931 |
| 6 | $8,938 | $13,519 | $336,412 |
| 7 | $8,582 | $13,874 | $322,537 |
| 8 | $8,217 | $14,240 | $308,298 |
| 9 | $7,842 | $14,614 | $293,683 |
| 10 | $7,458 | $14,999 | $278,685 |
| 11 | $7,063 | $15,393 | $263,291 |
| 12 | $6,658 | $15,798 | $247,493 |
| 13 | $6,243 | $16,214 | $231,279 |
| 14 | $5,816 | $16,641 | $214,638 |
| 15 | $5,378 | $17,079 | $197,559 |
| 16 | $4,929 | $17,528 | $180,031 |
| 17 | $4,467 | $17,989 | $162,042 |
| 18 | $3,994 | $18,463 | $143,580 |
| 19 | $3,508 | $18,948 | $124,631 |
| 20 | $3,010 | $19,447 | $105,184 |
| 21 | $2,498 | $19,959 | $85,226 |
| 22 | $1,973 | $20,484 | $64,742 |
| 23 | $1,434 | $21,023 | $43,719 |
| 24 | $881 | $21,576 | $22,144 |
| 25 | $313 | $22,144 | $0 |
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- Looking for how much HDB flat you can afford? Use the BTO / HDB affordability calculator.
- Looking for the monthly instalment on a bank home loan? Use the mortgage calculator for bank home loans.
- Looking for whether an HDB loan or a bank loan costs less? Use the HDB loan vs bank loan calculator.
HDB loan vs bank loan in 2026
| HDB concessionary loan | Bank loan | |
|---|---|---|
| Interest rate | 2.6% (CPF OA + 0.1%), steady | From 1.78% (DBS, Oct 2026), can change |
| Max loan-to-value | 75% | 75% (55% over 25 years) |
| Min cash downpayment | None (can be all CPF) | At least 5% cash |
| Max tenure | 25 years | 30 years |
| Rate stability | Very stable | Fixed for 2-3 yrs, then varies |
| Lock-in / penalty | None | Usually a 2-3 year lock-in |
HDB sizes its loan at a 3% interest floor and checks MSR only; banks test MSR and TDSR at 4%. Bank rates are time-sensitive, so verify current packages. You can refinance an HDB loan to a bank loan but not the reverse.
Notes
- HDB concessionary loan rate is 2.6% (CPF OA + 0.1%) and is reviewed quarterly.
- Some bank packages are below the HDB rate (DBS lists HDB loans from 1.78%, Oct 2026); they reset periodically, so check current rates.
- LTV is 75% (since 20 Aug 2024), so you need at least 25% down. Min 5% cash applies to bank loans; HDB loans can be fully CPF.
- MSR caps the mortgage at 30% of gross income (HDB/EC). TDSR caps all debt at 55% for bank loans only. HDB tests at a 3% floor, banks at 4%.
- CPF Housing Grants (EHG up to S$120,000 for families) and Buyer's Stamp Duty are separate from the loan.
- This is an estimate. Final terms depend on HDB / bank assessment and your HFE letter.
Sources
Figures checked 5 Oct 2026.
- HDB: housing loan from HDB (3% interest floor, 75% LTV, 25-year cap; updated 23 Aug 2026)
- HDB: credit to finance a flat purchase (HDB loan vs bank loan; updated 20 Aug 2026)
- CPF Board: interest rates, 1 Oct to 31 Dec 2026
- MAS: loan tenure and loan-to-value limits
- MAS: Mortgage Servicing Ratio and Total Debt Servicing Ratio rules
- MAS: calculating TDSR for property loans (4% medium-term rate)
- HDB: increase in income ceilings from 24 Aug 2026 (news, 23 Aug 2026)
- HDB: Enhanced CPF Housing Grant for families (updated 20 Aug 2026)
- HDB: HDB Flat Eligibility (HFE) letter, valid 9 months (updated 19 Aug 2026)
- DBS: HDB loan packages (from 1.78%, read 5 Oct 2026)
Frequently asked questions
What's the HDB concessionary loan interest rate?
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.
Who qualifies for an HDB loan?
Singapore Citizens (with at least one Singaporean co-applicant for families) buying an HDB flat, subject to income ceilings: S$16,000/month for families (S$24,000 for extended families) and S$8,000 for singles, from 24 Aug 2026. You must not own private property and must have a valid HFE letter.
How does the calculator check MSR and TDSR?
MSR caps your monthly mortgage at 30% of gross monthly income (for HDB and EC). For a bank loan, TDSR also caps total monthly debt obligations (including the mortgage + car loans + credit cards + other loans you enter) at 55% of gross monthly income; it does not apply to an HDB loan. HDB tests at a 3% interest floor and banks at 4%, and the calculator shows pass or fail on those rates.
How much downpayment do I need for an HDB loan?
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).
Can I switch from an HDB loan to a bank loan later?
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.
Is a bank loan cheaper than an HDB loan in 2026?
It can be. The HDB rate is steady at 2.6%, but in 2026 some bank packages fell below it (DBS lists HDB packages from 1.78% and a 3-year fixed 2.08%, Oct 2026). 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.
What is the HFE letter and do I need one?
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.
What's the maximum HDB loan tenure and how many HDB loans can I take?
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.
Does this calculator include stamp duty or grants?
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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These calculators provide general estimates for educational purposes only and are not personalised financial advice. Results may rely on rates and rules that change over time, so verify against official sources (IRAS, CPF Board, HDB, MAS) or consult a licensed financial adviser before making decisions.
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