HDB Loan Calculator

Estimate how much you can borrow for an HDB flat with an HDB loan or a bank loan.

Your inputs

Loan type	HDB concessionary loan
Gross monthly household income	$9,000
Age of the older borrower (income-weighted)	32
Flat price	$550,000
Interest rate	2.6 %
Other monthly debt payments (bank loans: car, cards)	$0

Loan type

Gross monthly household income

Age of the older borrower (income-weighted)

Flat price

Interest rate

HDB: CPF OA rate + 0.1% (2.6%); banks vary

Other monthly debt payments (bank loans: car, cards)

Maximum loan

$412,500

Limited by the 75% loan-to-value limit over 25 years. Monthly instalment at 2.6%: $1,871. Down payment needed: $137,500 (CPF OA can be used; with an HDB loan it can be all CPF).

Max by income (MSR 30%): $569,366
Max by LTV (75%): $412,500
Tenure: 25 years

Paying for the flat

Loan75%: $412,500
Down payment25%: $137,500

The lower limit decides your loan

By income (30% MSR)$569,366
By loan-to-value (75%)$412,500

About the HDB Loan Calculator

HDB concessionary loans charge 0.1% above the CPF Ordinary Account rate (2.6% a year), for up to 25 years or until the borrower turns 65. Since 20 August 2024 the loan-to-value limit is 75%. Monthly instalments can't exceed 30% of gross monthly income (the mortgage servicing ratio), and since 2022 HDB assesses eligibility at a 3% interest-rate floor.

Bank loans for HDB flats also have a 75% LTV, up to 30 years, the 30% MSR and the 55% total debt servicing ratio including other debts, assessed at a 4% medium-term rate floor. You need an HDB Flat Eligibility (HFE) letter before buying.

The formula

Max loan = min(75% × price, PV of 30% of income at the stress rate)

Worked example

Example: Maximum loan = $457,500

Inputs: Loan type: HDB concessionary loan; Gross monthly household income: $9,900; Age of the older borrower (income-weighted): 35; Flat price: $610,000; Interest rate: 2.9%; Other monthly debt payments (bank loans: car, cards): $0.
Formula: Max loan = min(75% × price, PV of 30% of income at the stress rate)
Result: Maximum loan = $457,500
Max by income (MSR 30%): $626,303
Max by LTV (75%): $457,500
Tenure: 25 years

Things to keep in mind

Estimate only; HDB's HFE letter and bank approvals are final. Shorter remaining leases can reduce LTV.

Questions people ask

HDB loan or bank loan?

HDB's rate is stable; bank rates can be lower but float. You can switch from HDB to bank but not back.

Does age matter?

Yes, the loan must be repaid by 65, so older buyers get shorter tenures and smaller loans.

Sources

The rules and rates this calculator uses come from the official pages below. Its results are estimates, not an official determination, and rules change, so check the latest figures there before you act on them.