1.51%
p.a.
1M SORA
- Year 2
- 1.51%
- Year 3
- 1.66%
- Lock-in
- 2 years
- Min. loan
- $3,000,000
Compare current home loan packages and understand the key financing considerations for your Singapore property purchase.
Compare current packages from participating banks. Rates shown are indicative and subject to change. Final pricing, eligibility, loan quantum and approval are subject to each bank’s assessment and prevailing terms.
Rates shown are indicative and may change without notice. Final eligibility, pricing and terms are subject to the bank’s assessment.
A sound property budget considers your available funds, upfront purchase costs and ongoing monthly repayments — not just the interest rate.
Plan how much you will use from cash and CPF Ordinary Account savings, while maintaining sufficient liquidity for other purchase and post-completion expenses.
Budget for Buyer’s Stamp Duty (BSD), Additional Buyer’s Stamp Duty (ABSD) where applicable, legal fees, valuation fees and other transaction-related costs.
Assess a monthly instalment that remains manageable alongside your existing financial commitments and potential changes in interest rates.
Coordinate your financing, supporting documents, bank approval and loan disbursement with the key milestones of your property purchase.
Understand the key financing steps from setting your budget to securing your home loan.
Review your income, existing financial commitments, available cash and CPF savings to establish a realistic purchase range.
Understand your indicative borrowing capacity and financing position before committing to a property purchase.
Review the property price, valuation requirements, payment schedule and key transaction dates before proceeding.
Submit the required supporting documents and review the bank’s Letter of Offer, rates, fees and loan conditions carefully before acceptance.
Consider repayment certainty, flexibility and your expected holding period rather than choosing a home loan based on the headline rate alone.
A fixed-rate package can provide greater repayment certainty during the fixed-rate period. Consider the applicable lock-in period, early redemption terms and the rate structure after the fixed period ends.
A floating-rate package, commonly structured around SORA or another bank-determined reference rate, may suit borrowers who are comfortable with interest-rate movements and reviewing their financing periodically.
Consider repayment certainty, flexibility and your expected holding period rather than choosing a home loan based on the headline rate alone.
Prepare supporting records for your salaried, commission, bonus, rental or self-employed income, where applicable.
Review outstanding housing loans, car loans, personal loans, credit facilities and other recurring debt obligations.
Have the property type, purchase price, expected completion date and relevant purchase documents available.
Understand the cash and CPF Ordinary Account savings available for your down payment and purchase costs while maintaining an appropriate liquidity buffer.
Understand the key financing considerations before committing to your next property purchase.
Your maximum loan amount depends on factors including your income, existing debt obligations, age, loan tenure, property type, outstanding housing loans and the bank’s credit assessment.
For bank property loans, the Total Debt Servicing Ratio (TDSR) generally limits total monthly debt obligations to 55% of gross monthly income. For the purchase of an HDB flat or Executive Condominium where the Mortgage Servicing Ratio (MSR) applies, the applicable limit is 30% of gross monthly income.
The actual amount offered may be lower depending on the bank’s assessment.
An In-Principle Approval, commonly referred to as an IPA or AIP, provides an indicative assessment of how much a bank may be prepared to lend based on the information provided.
It is useful when establishing your property budget, but it is not a final loan approval. Final approval remains subject to verification of your financial documents, the property, valuation and the bank’s prevailing lending criteria.
The required down payment depends on the applicable Loan-to-Value (LTV) limit, whether you have existing housing loans, the loan tenure and other regulatory requirements.
For an eligible borrower taking a first housing loan from a bank, financing can generally be up to 75% of the lower of the property purchase price or valuation, subject to applicable conditions. A minimum cash component may also apply.
CPF Ordinary Account savings may be used for eligible residential property purchases, including permitted portions of the down payment and monthly housing loan instalments.
CPF usage remains subject to CPF housing rules and applicable withdrawal limits. The amount available for use may also depend on factors such as the property’s remaining lease and whether it is your first or subsequent property.
A fixed-rate package keeps the applicable interest rate fixed for a stated period, providing greater repayment certainty during that period.
A floating-rate package can change over time and may be pegged to SORA or another reference rate. The appropriate structure depends on your preference for certainty, flexibility, expected holding period and view on future interest-rate movements.
SORA stands for Singapore Overnight Rate Average. It reflects the volume-weighted average rate of unsecured overnight Singapore dollar transactions in Singapore’s interbank market.
Many floating-rate home loan packages are priced using a compounded SORA benchmark plus a bank spread.
In addition to the down payment, buyers should consider Buyer’s Stamp Duty (BSD), Additional Buyer’s Stamp Duty (ABSD) where applicable, legal fees, valuation fees, mortgage-related charges and other transaction costs.
Renovation, furnishing and an appropriate cash reserve should also be considered when establishing your overall property budget.
It is generally prudent to understand your financing position before making a significant purchase commitment.
An in-principle assessment can help establish an indicative borrowing range, but buyers should also consider their available cash and CPF savings, stamp duties and other purchase costs before proceeding.
For properties under construction, bank loan disbursements are generally made progressively as the developer reaches the relevant construction and payment milestones.
Interest and repayments will therefore depend on the amount of the loan that has been disbursed at each stage. This differs from a completed property, where a larger portion of the loan is typically disbursed at completion.
Banks typically assess your income and employment profile, existing debt commitments, credit history, requested loan amount, loan tenure, age, property type and valuation.
The bank will also apply relevant regulatory requirements, including TDSR, MSR where applicable and Loan-to-Value limits, before determining the final loan quantum and terms.
Estimate your affordability, stamp duties and financing needs, then compare home loan packages with a clearer understanding of your budget.