Mortgage calculator for bank home loans
By MoneyBees
Work out the monthly instalment on a Singapore bank home loan at today's 3-month SORA or a fixed rate. The calculator applies MAS's loan-to-value limits, tells you the cash you must put down, and checks the loan against TDSR and MSR at the 4% stress rate banks use.
Calculator
The loan
Income-weighted for joint loans
Up to 35 years
Your limit is 75% of the price.
Take the spread from your bank's offer.
Your income
Combined, for joint borrowers.
Car loans, other property loans, card minimums.
Monthly instalment
$4,010
$1,125,000 at 1.73% over 30 years
Total interest
$318,504
if the rate never changes
Downpayment
$375,000
at least $75,000 in cash
Within the MAS limits
At the 4% stress rate the instalment is $5,371. That puts your TDSR at 35.8% (cap 55%).
On this income the largest loan that fits is about $1,728,055.
If the rate moves
| Rate | Monthly instalment | Change |
|---|---|---|
| 1.23% | $3,740 | -$270 |
| 1.73% | $4,010 | - |
| 2.23% | $4,291 | $281 |
| 2.73% | $4,583 | $573 |
| 3.73% | $5,199 | $1,190 |
Interest and principal each year
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- Looking for whether an HDB loan or a bank loan costs less? Use the HDB loan vs bank loan calculator.
- Looking for your monthly HDB loan instalment? Use the HDB loan calculator.
- Looking for how long your home loan can run? Use the loan tenure calculator.
MAS loan-to-value limits for bank loans
| Housing loans you owe | LTV | Minimum cash |
|---|---|---|
| None | 75% or 55% | 5% or 10% |
| One | 45% or 25% | 25% |
| Two or more | 35% or 15% | 25% |
The lower figure applies if the tenure runs past 30 years (25 for HDB flats) or past the borrower's 65th birthday. The rest of the downpayment can come from CPF.
Worked example
A S$1,500,000 condo with a 75% loan of S$1,125,000 over 30 years. At 3M SORA of 1.2332% plus a 0.5% spread, the rate is 1.73% and the instalment is about $4,010 a month. The downpayment is S$375,000, of which at least S$75,000 must be cash. At the 4% stress rate the instalment is $5,371, so the borrower needs about $9,765 a month in income to stay within the 55% TDSR.
How SORA loans are priced
- Floating packages charge compounded SORA plus a fixed spread. Your rate moves up and down with SORA.
- The 3-month compounded SORA published by MAS on 5 Oct 2026 was 1.2332%.
- Banks test whether you can afford the loan at 4% or the actual rate, whichever is higher, even when you pay less.
Sources
Figures checked 3 Oct 2026.
Frequently asked questions
How is my monthly mortgage instalment worked out?
Banks use the standard amortisation formula. Each month you pay interest on the balance still owed plus some principal, set so the loan is cleared at the end of the tenure. A S$1,125,000 loan over 30 years at 1.73% a year costs about S$4,010 a month.
How much can I borrow from a bank for a home?
Up to 75% of the price or valuation, whichever is lower, if you have no other housing loan. It drops to 55% if the tenure runs past 30 years (25 for HDB flats) or past age 65. The loan must also pass TDSR, and MSR for HDB flats and ECs, worked out at a 4% stress rate.
How much cash do I need for the downpayment?
With a 75% loan and no other housing loan, at least 5% of the price must be cash and the other 20% can come from cash or CPF. With a 55% loan the cash minimum is 10%. If you already have a housing loan, the loan limit drops to 45% or 25% and the cash minimum is 25%.
What is TDSR and MSR?
TDSR caps all your monthly debt repayments at 55% of gross monthly income. MSR caps the home loan instalment at 30% of income, and applies to HDB flats and to ECs still within their minimum occupation period. Banks test both at 4% a year or your actual rate, whichever is higher.
What is the current SORA rate?
MAS published the 3-month compounded SORA at 1.2332% on 5 Oct 2026. A floating home loan charges SORA plus the bank's spread, so with a 0.5% spread the rate would be about 1.73% a year until SORA moves.
How long can my home loan be?
Up to 30 years for an HDB flat and 35 years for other property, under MAS rules. A longer tenure lowers the monthly instalment but raises the total interest, and past 30 years (25 for HDB) it also cuts the loan limit to 55%.
How much income do I need for a S$1 million loan?
At the 4% stress rate over 30 years, a S$1,000,000 loan has an instalment of about S$4,774. To keep that within the 55% TDSR with no other debts you need about S$8,680 a month in gross income. For an HDB flat or EC, the 30% MSR needs about S$15,900.
Should I choose a fixed or floating rate?
A fixed rate keeps your instalment the same for the lock-in period. A floating rate follows SORA, so it falls when SORA falls and rises when it rises. Use the rate table on this page to see how much your instalment would change if the rate moved by up to 2 points.
How we calculate this
- The loan is the price times the share you borrow, up to MAS's loan-to-value limit. With no other housing loan, a bank can lend up to 75% of the price or valuation, whichever is lower, and at least 5% must be cash. The limit falls to 55%, with 10% cash, if the tenure runs past 30 years (25 for an HDB flat) or past your 65th birthday. With one housing loan outstanding the limits are 45% or 25%, and with two or more 35% or 15%, with 25% cash. Source: MAS: loan tenure and loan-to-value limits
- Tenure is capped at 35 years for private property and ECs, and 30 years for HDB flats. Source: MAS: loan tenure and loan-to-value limits
- The rate is MAS's latest 3-month compounded SORA, 1.2332% published 5 Oct 2026, plus the spread you enter. Or you enter a fixed rate. Source: MAS: domestic interest rates, compounded SORA (latest published 5 Oct 2026, checked 5 Oct 2026)
- The monthly instalment uses the standard amortisation formula: P x r x (1 + r)^n / ((1 + r)^n - 1), where r is the yearly rate divided by 12 and n is the number of months. Each month's interest is the balance times r, and the rest of the instalment pays down the loan.
- For the affordability check we work the instalment out again at 4% a year, or the loan rate if that is higher. TDSR is that instalment plus your other monthly debts, divided by your gross monthly income, and it must be 55% or less. For HDB flats and ECs bought from the developer, MSR is that instalment alone over income, capped at 30%. Source: MAS: Mortgage Servicing Ratio and Total Debt Servicing Ratio rules
- The largest loan is the income room under those caps divided by the 4% instalment for each dollar borrowed. Source: MAS: media release on the 4% medium-term interest rate floor (Sep 2022)
Rounding
The calculator keeps full precision inside the sum and shows dollars rounded to the nearest dollar. Banks round each instalment to the cent and adjust the final one, and a SORA loan reprices as SORA moves, so your bank's schedule will differ.
Worked example: the default case
- A borrower aged 35 buys private property at S$1,500,000 with no other housing loan, a 30-year tenure and S$15,000 a month in income.
- Age 35 plus 30 years ends at 65, not past it, and 30 years is not over 30, so the 75% limit applies. Loan: 75% x S$1,500,000 = S$1,125,000.
- Rate: 1.2332% SORA plus a 0.5% spread = 1.7332% a year.
- Instalment: S$4,010 a month for 360 months. Total interest, if the rate never changes, is S$318,504.
- Downpayment: S$375,000, of which at least 5% of the price, S$75,000, must be cash.
- Stress test: at 4% the instalment is S$5,371. TDSR = S$5,371 / S$15,000 = 35.8%, inside the 55% cap. MSR does not apply to private property.
- Largest loan on this income: 55% of S$15,000 leaves S$8,250 a month of room, which at 4% over 30 years supports about S$1,728,055.
What this calculator does not cover
- SORA changes over the loan. The calculator holds today's rate for the whole tenure.
- Bank fees, lock-in penalties and the rate after a promotional period ends.
- The cut banks apply to variable and rental income in the TDSR test. Enter the income your bank will count.
- CPF limits on how much of your CPF can go into the property.
- HDB housing loans, which follow HDB's own rules. The HDB loan calculator covers them.
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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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