Mortgage Calculator
Calculate mortgage repayments for HDB, bank loans and private property in Singapore. Supports SGD, MYR and more. EMI formula, amortisation table included. Free, no signup.
Mortgage Calculator Tool
| Year | Balance | Annual Interest | Annual Principal |
|---|
How to Use the Mortgage Calculator
Select your loan type
Click HDB Loan, Bank Loan or Private Property — each tab pre-fills the relevant defaults for Singapore property. HDB caps tenure at 25 years; bank and private property allow up to 30 years.
Enter property price and down payment
Type your property price and either the down payment amount or percentage — the tool automatically calculates the other field. The loan amount updates instantly as you type.
Set your interest rate and tenure
Adjust the annual interest rate using the hint text as a guide for current Singapore market rates. Drag the slider or type to set your loan tenure in years.
Click Calculate — review your full breakdown
Your monthly EMI, total cost, total interest paid, and principal-vs-interest donut chart appear instantly. Expand the amortisation schedule to see year-by-year balance reduction.
Buying Property in Singapore — What the Numbers Really Look Like
HDB Loan vs Bank Loan: The Singapore Decision
For most Singaporeans buying their first HDB flat, the choice between an HDB loan and a bank loan is the single most consequential financial decision they will make. The HDB Concessionary Loan charges 2.6% per annum — pegged at 0.1% above the CPF Ordinary Account (OA) rate of 2.5%. This rate has remained remarkably stable for decades, providing predictability that bank loans simply cannot match.
Bank loans in Singapore are predominantly floating-rate products benchmarked to SORA (Singapore Overnight Rate Average), typically resulting in effective rates of 3.5–4.5% in 2026. Some banks offer fixed-rate packages for 2–3 years, after which the rate reverts to a floating formula. Lock-in periods of 2–3 years are common, with penalties of 1–1.5% of the outstanding loan if you refinance early.
The trade-off is clear: HDB loans offer stability and the flexibility to switch to a bank loan later (but not back), while bank loans occasionally dip below the HDB rate during low-rate environments and may suit buyers comfortable with rate risk. The Mortgage Servicing Ratio (MSR) rule caps HDB flat repayments at 30% of gross monthly income — a constraint that applies to both HDB and bank loans for HDB properties, protecting buyers from over-borrowing.
How to Calculate Your Affordability Using MSR and TDSR Rules
MAS (Monetary Authority of Singapore) enforces two key affordability guardrails. The Mortgage Servicing Ratio (MSR) limits monthly loan repayments to 30% of gross income for HDB flats and Executive Condominiums (EC). The Total Debt Servicing Ratio (TDSR) caps all monthly debt obligations — mortgages, car loans, credit cards — at 55% of gross monthly income for all property types.
As a practical example: if your household gross income is S$8,000 per month, your maximum HDB mortgage repayment is S$2,400 (30% MSR). At 2.6% over 25 years, that S$2,400/month supports a loan of approximately S$492,000. The TDSR at 55% gives S$4,400 total debt headroom — your mortgage must fit within this alongside any other loans. CPF OA savings can be used to service monthly repayments, effectively reducing cash outflow, but the loan is still counted against these limits.
For private properties, there is no MSR — only the 55% TDSR applies. Cash Over Valuation (COV) — the amount paid above the HDB valuation — must be funded entirely in cash, with no CPF or loan coverage, making it a critical consideration when buying resale HDB flats above valuation.
"A S$500,000 HDB loan at 2.6% over 25 years costs S$230,000 in interest — still less than the equivalent bank loan if rates rise above 4%."
Mortgage Rates Across ASEAN in 2026
Singapore borrowers enjoy some of the lowest mortgage rates in the Asia-Pacific region, a reflection of MAS's managed float exchange rate policy, a mature banking sector, and a stable macroeconomic environment. In 2026, effective Singapore bank mortgage rates sit at 3.5–4.5%, down from the SORA-driven peaks of 2023–2024.
Across the Causeway in Malaysia, home loan rates are benchmarked to the Base Rate (BR) set by Bank Negara Malaysia, with effective lending rates of 4–5% for most residential borrowers. Indonesia's KPR (Kredit Pemilikan Rumah) home loan market offers rates of 8–12% per annum — driven by Bank Indonesia's higher base rate and inflation dynamics — making property finance significantly more expensive in nominal terms. Thai mortgage rates sit at 5–7%, while Vietnam's dong-denominated home loans frequently exceed 10–12% per annum, reflecting the higher inflation environment and less mature capital markets.
These rate differentials have a profound compounding effect over a 25-year mortgage. A S$500,000 loan at 4% costs roughly S$263,000 in total interest; the same loan in Indonesia equivalent at 10% would cost over S$820,000 in interest — more than 1.6 times the original principal. Singapore's relatively low rates, combined with the CPF housing scheme and TDSR guardrails, make it one of the most structurally sound public housing finance systems in the world.
10 Facts About Singapore Property & Mortgages
Singapore's HDB concessionary rate of 2.6% p.a. has been below market rates for over 20 years — offering one of Asia's most affordable public housing loans.
The Mortgage Servicing Ratio (MSR) caps HDB flat mortgage payments at 30% of gross monthly income — one of Asia's strictest housing affordability rules.
Singapore's Total Debt Servicing Ratio (TDSR) of 55% means all monthly debt repayments cannot exceed 55% of gross income — introduced in 2013 to prevent over-lending.
HDB flats must be owner-occupied for a Minimum Occupation Period (MOP) of 5 years before they can be sold on the open market or rented out entirely.
Singapore's average home ownership rate exceeds 90% — one of the highest in the world, largely due to the CPF housing scheme and HDB's affordable pricing.
The Loan-to-Value (LTV) limit for HDB loans is 80% — meaning buyers must fund at least 20% through cash or CPF savings as downpayment.
Malaysia's home loan rates are typically expressed as a spread above the Base Rate (BR) — currently resulting in effective rates of 4–5% p.a. for most borrowers.
Indonesia's KPR (Kredit Pemilikan Rumah) home loan rates average 8–12% p.a. — significantly higher than Singapore due to higher base interest rates and inflation.
Singapore's property market has never experienced a sustained crash — prices dipped during the 1997 Asian Financial Crisis and 2008 GFC but recovered within 3–5 years.
A 1% increase in mortgage rate on a S$500,000 loan over 25 years adds approximately S$75,000 in total interest payments.
Frequently Asked Questions
-
An HDB loan is issued directly by the Housing & Development Board at a fixed concessionary rate of 2.6% p.a. (pegged 0.1% above CPF OA rate). It allows up to 80% LTV, requires minimum 10% downpayment (all CPF acceptable), and has no lock-in period. A bank loan is issued by commercial banks at floating or fixed rates — currently 3.5–4.5% p.a. — with LTV up to 75%, higher cash downpayment requirements, and lock-in periods of 2–3 years. You can switch from an HDB loan to a bank loan to potentially save on interest, but you cannot switch back once on a bank loan.
-
For an HDB loan (80% LTV), you need at least 20% downpayment — the minimum 10% can be paid using CPF OA funds or cash, and the remaining 10% can also be CPF or cash. For a bank loan (75% LTV), you need 25% downpayment, with at least 5% in cash (the rest can be CPF). If you own other properties, higher downpayment requirements apply under the Additional Buyer's Stamp Duty (ABSD) and LTV rules.
-
The Mortgage Servicing Ratio (MSR) limits your monthly mortgage repayment to 30% of your gross monthly income for HDB flats and Executive Condominiums. For example, if you earn S$6,000/month, your maximum monthly HDB loan repayment is S$1,800. This cap applies regardless of whether you use an HDB loan or a bank loan to purchase an HDB flat. It does not apply to private property purchases (only TDSR applies there).
-
The Total Debt Servicing Ratio (TDSR) is set at 55% of gross monthly income. This means all your monthly debt repayments — including your mortgage, car loan, personal loans, credit card minimum payments — combined cannot exceed 55% of your gross monthly income. Introduced by MAS in 2013 and tightened in 2021, TDSR applies to all property loans in Singapore, including both HDB and private property purchases. Lenders use a stressed interest rate (typically adding a buffer) when calculating TDSR for floating-rate loans.
-
Yes. CPF Ordinary Account (OA) savings can be used to service monthly mortgage repayments for both HDB and private properties, subject to CPF housing withdrawal limits. For HDB loans, there is no cap on the amount of CPF OA you can use. For private properties, CPF usage is subject to the Valuation Limit (VL) — you can only use CPF up to the property's purchase price or valuation (whichever is lower), and beyond 120% of the VL (the Withdrawal Limit), only cash can be used. Using CPF for monthly repayments reduces your cash outflow but also reduces the balance earning 2.5% in your OA — consider the opportunity cost.
-
The maximum loan tenure for an HDB loan is 25 years, or the remaining lease of the flat minus 20 years (whichever is shorter). For bank loans on HDB flats, the maximum is also 25 years under the same constraints. For private properties, the maximum bank loan tenure is 30 years. MAS also applies age-based restrictions: the loan tenure cannot extend beyond the borrower turning 65, which effectively shortens the available tenure for older buyers.
-
Use the EMI (Equated Monthly Instalment) formula: EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the total number of months (years × 12). This calculator applies this formula automatically — just enter your loan amount, interest rate, and tenure and click Calculate. Every monthly payment covers both interest and principal, with the interest portion decreasing over time as your balance reduces.
-
Fixed-rate packages lock your rate for a set period (typically 2–5 years), offering payment certainty but usually at a slightly higher rate than floating. Floating-rate packages (SORA-based in Singapore) move with market rates — potentially saving money when rates fall, but adding uncertainty. In a declining rate environment like 2025–2026, floating rates have become attractive for many borrowers. Consider your income stability, risk tolerance, and how long you plan to hold the property. Many buyers split their loan between fixed and floating tranches to balance stability and savings. Always compare total cost over the lock-in period, not just the headline rate.
-
Yes — foreigners can obtain bank loans in Singapore to purchase private residential properties (condominiums, landed homes with special approval). HDB flats and executive condominiums are not available to foreigners. Foreigners pay a 60% Additional Buyer's Stamp Duty (ABSD) on any residential property purchase, making property investment significantly more expensive for non-PRs. Singapore Permanent Residents (PRs) pay 5% ABSD on their first residential property. Loan approval is subject to TDSR rules and the lender's credit assessment criteria, which may be stricter for non-resident borrowers.
-
This calculator uses the standard EMI formula (P × r × (1+r)^n ÷ ((1+r)^n − 1)) which is the same method used by banks to calculate monthly repayments. The results are mathematically accurate for the inputs provided. However, actual loan repayments may differ due to compounding conventions, processing fees, government charges (stamp duty, legal fees), insurance requirements, and any promotional rates or cashback that reduce the effective cost. Always obtain a formal Loan-to-Value offer and illustration from your lender before committing to any property purchase.
Related News
You may be interested in these recent stories from our newsroom.
-
Snowflake jumps 36 per cent in a day on an earnings beat and a US$6 billion AWS chip deal
Snowflake had its best day as a public company on 28 May, closing up 36 per cent after a clean first-quarter beat and a five-year, US$6 bill...
-
MAS Scraps Mandatory Financial Advice for Most Complex Product Buyers in Retail Shake-Up
Singapore retail investors buying structured notes, derivatives and investment-linked policies will no longer need mandatory financial advic...
-
SEC Rewrites Float Rules, PSE Moves to Implement Them — Clearing the Path for GCash's USD 1B Philippine IPO
The SEC lowered the public float floor for large Philippine issuers in February 2026. The PSE followed with a consultation paper in April. T...
75 more free tools
Calculators, converters, security tools — no signup.