For buyers of an HDB flat, an EC or a private home in Singapore
What would your home loan cost each month, and where are the limits?
Key in the price, the loan you have in mind, the rate and the tenure, then your income and other debts. You see the monthly instalment, your ratios next to the TDSR and MSR limits, the loan-to-value limit for your case and the stamp duties.
Calculate for free- No Singpass
- No account
- Nothing sent to a bank
This site works out figures from what you key in. It does not lend, broker loans or assess whether a bank or HDB would lend to you.
The result is a calculation on your figures. It is not a guaranteed saving or an offer.
For bank loans it depends on how many housing loans you have outstanding, and the lower limit applies when the tenure runs past 30 years for private property or 25 years for an HDB flat, or the loan runs past the borrower's age of 65. We check the tenure only.
The loan you keyed in is above that share of the price.
The tenure you keyed in is longer than the maximum for this type of loan.
At that rate your figures are above the limit.
Under the MAS rules, lenders work out these ratios at a medium-term interest rate floor that can be above the rate you pay. We have not verified that floor, so the lender's ratio can be higher than either line here.
With these figures there is no room within the limit for a home loan instalment at your test rate.
Two worked figures from the limits and your own test rate, shown side by side. Neither is an amount a bank or HDB would lend you.
Residential tiers from 15 Feb 2023, on the price you keyed in, rounded down to the dollar. IRAS uses the higher of price and market value.
Not payable by a Singapore Citizen buying a first residential property.
Choose a buyer profile and how many properties you own to see ABSD.
This calculator does not assess your eligibility for a loan and does not represent an assessment by HDB or a bank.
This calculation is not a loan offer or a personal recommendation about a property purchase or home loan.
For illustration only. Not a loan offer or a commitment to lend. Cindrus does not lend or broker loans, passes nothing you key in to banks or HDB, and no lender pays us.
Basis: your own figures, the TDSR, MSR and loan-to-value limits published by MAS and IRAS stamp duty rates. The rate and costs you can actually get may differ.
- A rate that stays as keyed in for the whole tenure. A floating package is reset when its reference rate moves, which this calculation leaves out.
- Monthly interest: the yearly rate divided by 12.
- Income counted in full. Banks may count variable income or rent at less than the full amount.
- Stamp duties on the price you keyed in. ABSD for individual buyers, without refunds or remissions.
Your next step.
Take the result with you.
Free. No account.
- Write down the figures you used: you find them under «Understand the number».
- Ask what it costs in total, not only what the payment will be.
- Ask whether the rate is fixed and what can change it.
- Ask for the offer in writing, so you can compare it calmly.
- Ask what is not included in the figure.
Ready to talk to the bank?
Your figures and the right questions, on one page.
- Costs and rate
- Fees and remaining balance
- The assumptions behind the figure
Follow your loan.
Your loan and your calculations, in one place.
- Your calculations saved in one place
- Your financial overview
The account is free.
The calculator is free without an account. Not personal advice.
Your bank conversation
Ask the bank about these six things.
Based on your calculation. Not personal advice.
Three steps to an instalment and stamp duty figure
Price and loan
The purchase price and how much you plan to borrow, and whether it is an HDB flat or private property.
Rate and tenure
The rate in your loan offer and the tenure in years.
Your buyer profile
Citizen, permanent resident or foreigner, and how many residential properties you already own, so ABSD can be worked out.
What IRAS, HDB and MAS publish
Two stamp duties can apply when you buy residential property, and home loans come with income and loan-to-value limits. The calculator applies the published figures below.
Buyer's Stamp Duty
Tiered by price for residential property, with a top marginal rate of 6% from 15 Feb 2023. IRAS computes it on the purchase price or market value, whichever is higher, rounded down to the nearest dollar.
Additional Buyer's Stamp Duty
Depends on your profile and how many residential properties you own. From 27 Apr 2023, for example, a citizen buying a second residential property pays 20% and a foreigner pays 60%.
HDB flat loans
HDB states a loan-to-value limit of 75% for its housing loans, and the same limit for loans from financial institutions.
Income and loan limits
According to the Monetary Authority of Singapore (MAS), a borrower's total debt servicing ratio (TDSR) should be less than or equal to 55%, and the mortgage servicing ratio (MSR), which applies only to the purchase of an HDB flat or an executive condominium where the minimum occupation period has not expired, is capped at 30% of gross monthly income. For a bank loan, the loan-to-value limit falls with each housing loan you already have.
Instalment, stamp duty and the cash you need
The monthly instalment depends on the loan amount, the rate and the tenure. The part of the price the loan does not cover, and the stamp duties, are paid separately, which is why the calculator shows them as their own rows.
BSD applies to every purchase, on a tiered scale. ABSD is added on top for some buyers, depending on residency status and the number of residential properties owned, and IRAS bases both on the higher of price and market value.
You may also have searched for
Home loan calculator Singapore · mortgage calculator SG · HDB loan calculator · BSD calculator · ABSD calculator.
Figures you can check, from a site that sells no loans
Whenever it suits
No appointment, no queue. Try a few prices before a viewing.
No tie-ups
No bank or agency pays Cindrus, and none is promoted here.
Shows its workings
The stamp duty tiers and the instalment method are listed under the result.
What we stand by
- Personal data is never sold.
- No buried fees or premises.
- No number without an explanation.
- No artificial deadlines.
- Your data can be exported or deleted whenever you wish.
What is the difference between TDSR and MSR?
TDSR counts every monthly debt repayment, including the new home loan, against gross income. MSR counts only the home loan instalment and applies to HDB flats and to executive condominiums still within the minimum occupation period. The calculator shows whichever applies to your choices.
Why is there a separate test rate?
Lenders do not work out the ratios at the rate you will pay but at a floor rate set under the MAS rules, which can be higher. We have not verified that floor, so you choose the rate to test, and the ratios and the worked loan figure follow it.
Is the worked loan figure what a bank or HDB would lend me?
No. It is arithmetic on the limits and your own test rate. HDB and banks look at your age, income records, credit and their own policy, and only they decide on a loan.
Why did the loan-to-value limit drop when I made the tenure longer?
For bank loans the lower limit applies once the tenure goes past the threshold for the type of property. Shorten the tenure and the higher limit comes back.
Is this advice or a loan offer?
Neither. The site shows figures with their sources and nothing you key in leaves your browser.
The calculator is free of charge.
A free account keeps your home loan, other loans and assets in a single overview. The pricing page lists plans and where each feature is available.
See the plans →Key in your own numbers.
The calculator costs nothing. A free account, no card needed, puts your loan beside your assets and other debts.