By MoneyBees
Work out monthly instalments and total interest for a bank home loan with full amortisation schedule.
Using the standard amortisation formula: each month you pay interest on the outstanding balance plus a slice of principal, fixed so the loan clears exactly at the end of the tenure. Early payments are mostly interest; later ones are mostly principal. The calculator shows the full schedule.
Up to 75% of the property value or price (whichever is lower) for a first bank loan with a 30-year tenure — so you need at least 25% down (minimum 5% in cash). Your loan is also capped by TDSR (total monthly debt under 55% of gross income), assessed at a stressed rate of 4%.
At least 25% of the price: minimum 5% in cash and the rest in cash or CPF Ordinary Account. The 75% loan-to-value limit has applied since the 20 August 2024 cooling measures. A longer tenure or older borrower can lower the LTV further.
SORA (Singapore Overnight Rate Average) is the benchmark that replaced SIBOR. Floating home loans are priced as compounded 1-month or 3-month SORA plus a bank spread, so your rate moves with SORA. In mid-2026 3-month compounded SORA was around 1.1% — check the current value, as it changes daily.
Fixed-rate packages lock your rate (usually for 2-3 years) for certainty; floating (SORA-pegged) packages move with the market and are often cheaper when rates fall. Many buyers fix when rates look set to rise and float when they look set to fall. Compare the lock-in period and any clawback of legal subsidies.
Buyer's Stamp Duty (1-6% of price), any Additional Buyer's Stamp Duty for a second-plus property or non-citizens, legal/conveyancing fees (~S$2,500-3,000), and a valuation fee. Budget for these on top of your 25% downpayment — use the stamp duty calculator to size them.
An IPA (or AIP) is a bank's non-binding indication of how much it will lend you, based on your income and credit. Get one before you commit to a property so you know your budget and don't risk losing a deposit if the loan falls short.
Repricing means switching to a new package with your existing bank (cheaper, faster, less paperwork). Refinancing means moving the loan to a different bank (potentially a better rate, but with legal fees and a fresh application). Both are usually worth reviewing once your lock-in period ends.
Usually yes during the lock-in period — typically around 1.5% of the amount prepaid, plus possible clawback of legal/valuation subsidies. After the lock-in ends, partial or full prepayment is generally penalty-free. Check your loan's specific terms.
A longer tenure lowers your monthly payment but increases total interest paid. A shorter tenure costs more per month but saves substantially over the life of the loan. For LTV purposes, a tenure beyond 30 years (private) or 25 years (HDB), or one that runs past age 65, caps your loan-to-value lower, so most borrowers stay within these limits.
Flat rate is charged on the original principal for the whole tenure, which understates the true cost. Effective rate (EIR) is charged on the declining balance — what you actually pay. Singapore home loans are always quoted as effective rates, which is what this calculator uses.
Junxiong-WFG Organisation is an authorised representative of AIA Financial Advisers Private Limited (Reg. No. 201715016G).