At a glance
- TDSR
- All debt repayments up to 55% of gross monthly income
- MSR
- HDB flats and new ECs: home loan up to 30% of gross income
- Stress-test rate
- 4% for bank loans, 3% for HDB loans
- Loan-to-value
- 75% on a first home loan, 55% if the loan runs past age 65 or past 30 years (25 for HDB flats)
- HDB loan rate
- 2.6% (CPF Ordinary Account rate plus 0.1%)
How the loan pays down, year by year
| Year | Interest paid | Principal paid | Balance left |
|---|
Assumptions
- Total Debt Servicing Ratio (TDSR): all debt repayments up to 55% of gross monthly income. Private property loans are tested at 4% a year, HDB flats and new ECs with a bank loan at 4%, and HDB loans at 3%.
- Mortgage Servicing Ratio (MSR): HDB flats and new ECs only, the home loan alone up to 30% of gross income.
- Loan-to-value: 75% on a first home loan if the loan ends by age 65 and runs no more than 30 years (25 for HDB flats), otherwise 55%. HDB loans are 75%, up to 25 years.
- Repayments are equal monthly instalments at a constant rate. Real packages reprice after the lock-in.
An estimate, not a loan approval. Your bank gives the final figures.
What the calculator shows
The big number is your monthly instalment at the rate and tenure you choose, with the split between what you borrow and the interest you pay over the whole loan. Below it are the four figures a bank looks at before it lends: the most it will lend you, the price that loan supports, what happens to your instalment if rates rise by one percentage point, and how much of your income the loan takes.
Open the year-by-year table to see how slowly the balance falls at first. In the first years of a 30-year loan, more of each instalment goes to interest than to the loan itself.
The three limits that cap your loan
Loan-to-value (LTV). On your first home loan, a bank lends up to 75% of the price or valuation, whichever is lower. If the loan would run past your 65th birthday, or past 30 years (25 for an HDB flat), the cap drops to 55%. That is why the slider stops at 55% when you push the tenure too far.
Total Debt Servicing Ratio (TDSR). All your monthly debt repayments, including car loans and other home loans, can’t exceed 55% of gross monthly income. The bank works out your home loan repayment at the stress-test rate of 4%, not the rate you’ll actually pay.
Mortgage Servicing Ratio (MSR). For HDB flats and new executive condos, the home loan instalment alone can’t exceed 30% of gross monthly income. For most families buying an HDB flat or a new EC, MSR bites before TDSR does.
A worked example
A couple earning S$15,000 a month, with no other debts and the older partner aged 35, look at a S$1.5 million condo. A 75% loan of S$1.125 million over 30 years at 1.8% costs about S$4,050 a month, and about S$332,000 in interest over the full term. The bank tests the same loan at 4%, where it costs about S$5,370 a month, well inside their TDSR room of S$8,250. Their income would support a loan of about S$1.73 million, so cash for the 25% down payment, not income, is their real limit.
Change the property type to an HDB flat or new EC and the 30% MSR applies. Their room drops to S$4,500 a month, and the largest loan falls to about S$940,000.
Before you apply
Ask your bank for an approval in principle before you sign an option to purchase. It confirms the loan amount in writing, so you don’t pay the option fee on a home you can’t finance. If you’re selling a flat to upgrade, our sell-and-upgrade calculator works out both sides together, and the stamp duty calculator adds the cash you need on top of the down payment.
Common questions
How much can I borrow on my salary?
Banks test your repayment at 4% a year, not today's rate. At 4% over 30 years, each S$1,000 of monthly repayment supports a loan of about S$209,000. With TDSR at 55%, a household earning S$15,000 a month with no other debts can commit S$8,250, which supports a loan of about S$1.73 million over 30 years. For an HDB flat or a new EC, the 30% MSR caps it lower: S$4,500 a month, or about S$940,000.
Why does the bank use 4% when my rate is under 2%?
MAS sets a medium-term interest rate floor so borrowers can still pay if rates rise. Since September 2022 the floor is 4% for bank loans on any home and 3% for HDB loans. Your actual instalment is worked out at your package rate, which is why this calculator shows both.
Does the MSR apply to condos?
No. The 30% Mortgage Servicing Ratio applies only to HDB flats and to executive condos bought from the developer. Resale ECs and private condos are tested only on TDSR.
Should I take an HDB loan or a bank loan?
An HDB loan charges 2.6% and needs no cash down payment, while bank packages in late 2026 sit around 1.4% to 2% but need at least 5% in cash. Once you switch from an HDB loan to a bank loan, you can't switch back. Our guide to HDB loans and bank loans walks through the trade-off.
Get a free valuation
Tell us your block and flat type. We'll send recent prices for your block and nearby blocks, and what a sale would leave you after your loan and CPF refund.
Sources
Facts on this page were checked against these sources on 13 October 2026.
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