DollarBack Mortgage

Home

New HDB Bank Loan

Enjoy the best housing Loan Rates for your new HDB flat in 2021

Get the best HDB bank home loan interest rates for a new resale HDB or BTO unit in 2021 with exclusive mortgage packages. Complete your purchase with reputable HDB conveyancing law firms in Singapore and enjoy discounted legal fees.

BE REWARDED

Discounted legal fees
Up to $800
Shopping Vouchers
Up to $3,300
Compare Rates
BANKLOAN TYPEYEAR 1YEAR 2YEAR 33 YEAR AVGYEAR 4YEAR 5YEAR 6
Limited Promo*3 Year Fixed1.10%
Fixed
1.10%
Fixed
1.10%
Fixed
1.10%1.75%
Floating
1.75%
Floating
1.75%
Floating
Limited Promo*3 Year Fixed1.12%
Fixed
1.12%
Fixed
1.12%
Fixed
1.12%1.75%
Floating
1.75%
Floating
1.75%
Floating
Limited Promo*2 Year Fixed1.05%
Fixed
1.05%
Fixed
1.30%
Floating
1.13%1.30%
Floating
1.30%
Floating
1.30%
Floating
OCBC3 Year Fixed1.15%
Fixed
1.15%
Fixed
1.15%
Fixed
1.15%1.80%
Board
1.80%
Board
1.80%
Board
DBS3 Year Fixed1.18%
Fixed
1.18%
Fixed
1.18%
Fixed
1.18%1.80%
Fixed Deposit
1.80%
Fixed Deposit
1.80%
Fixed Deposit
BOC2 Year Fixed1.10%
Fixed
1.10%
Fixed
1.41%
3M SORA
1.20%1.41%
3M SORA
1.41%
3M SORA
1.41%
3M SORA
Maybank3 Year Fixed1.25%
Fixed
1.25%
Fixed
1.25%
Fixed
1.25%2.75%
Board
2.75%
Board
2.75%
Board
Citibank3 Year Fixed1.26%
Fixed
1.26%
Fixed
1.26%
Fixed
1.26%1.35%
1M SIBOR
1.35%
1M SIBOR
1.35%
1M SIBOR
OCBC3 Year Fixed1.30%
Fixed
1.30%
Fixed
1.30%
Fixed
1.30%1.80%
Board
1.80%
Board
1.80%
Board
Standard Chartered3 Year Fixed1.30%
Fixed
1.30%
Fixed
1.30%
Fixed Deposit
1.30%1.72%
Fixed Deposit
1.72%
Fixed Deposit
1.72%
Fixed Deposit
Hong Leong2 Year Fixed1.28%
Fixed
1.28%
Fixed
1.50%
Board
1.35%2.20%
Board
2.20%
Board
2.20%
Board
UOB3 Year Fixed1.35%
Fixed
1.35%
Fixed
1.35%
Fixed
1.35%1.80%
Board
1.80%
Board
1.80%
Board
Standard Chartered2 Year Fixed1.18%
Fixed
1.18%
Fixed
1.72%
Fixed Deposit
1.36%1.72%
Fixed Deposit
1.72%
Fixed Deposit
1.72%
Fixed Deposit
DBS5 Year Fixed1.40%
Fixed
1.40%
Fixed
1.40%
Fixed
1.40%1.40%
Fixed
1.40%
Fixed
1.80%
Fixed Deposit
DBS5 Year Fixed1.68%
Fixed
1.68%
Fixed
1.68%
Fixed
1.68%1.68%
Fixed
1.68%
Fixed
1.80%
Fixed Deposit
BANKLOAN TYPEYEAR 1YEAR 2YEAR 33 YEAR AVGYEAR 4YEAR 5YEAR 6
Limited Promo*3-month SORA0.83%
0.83%
0.83%
0.83%1.35%
1.35%
1.35%
Limited Promo*Fixed Deposit1.00%
1.00%
1.00%
1.00%1.72%
1.72%
1.72%
DBS3-month SORA0.96%
0.96%
1.16%
1.03%1.16%
1.16%
1.16%
HSBC1-month SORA0.92%
0.92%
1.35%
1.06%1.35%
1.35%
1.35%
Citibank1-month SORA0.92%
0.92%
1.35%
1.06%1.35%
1.35%
1.35%
Standard Chartered3-month SORA0.92%
0.92%
1.37%
1.07%1.37%
1.37%
1.37%
Standard CharteredFixed Deposit1.10%
1.10%
1.10%
1.10%1.40%
1.40%
1.40%
UOB3-month SIBOR1.25%
1.25%
1.25%
1.25%1.25%
1.25%
1.25%
HSBC1-month SIBOR1.25%
1.25%
1.25%
1.25%1.25%
1.25%
1.25%
Maybank3-month SIBOR1.05%
1.05%
1.90%
1.33%1.90%
1.90%
1.90%
OCBC3-month SORA1.41%
1.41%
1.41%
1.41%1.41%
1.41%
1.41%
DBSFixed Deposit1.50%
1.50%
1.80%
1.60%1.80%
1.80%
1.80%

How WE get you the best hDB BANK LOAN

HDB Bank Loan Eligibility

Our mortgage consultants perform bank loan calculations based on your income, age and new HDB purchase price. Get assured of your HDB bank loan eligibility based on the Mortgage Servicing Ratio (MSR) across all major banks in Singapore. In this way, you are informed of your maximum loan amount and get access to a comparison of the best HDB bank loans available.

mortgage flexibility

HDB properties have a minimum occupancy period (MOP) of 5 years, but there are exceptions to this rule with HDB’s approval. Our mortgage consultants ensure flexibility in your mortgage by having special conditions such as waiver of penalties for early sale of your HDB unit, making a partial repayment during the lock in period and a free switch to a different interest rate package.

Lower Upfront Fees

For a new HDB home loan, upfront costs include legal fees which are within the range of $2,000 to $2,800. Through our partner conveyancing law firms, you get to enjoy lower legal fees through DollarBack Mortgage rewards. Lower upfront fees reduce the effective net interest being paid for mortgage, allowing you to save on your monthly instalments.

No tricks, no gimmicks. up to $3,300 in cash rewards from us to you!

Let's go

What to know for a HDB bank loan

Is a HDB loan or bank loan better?

It really depends on your long term property goals and current financial health. HDB loans allow you to finance up to 90% of the purchase price of the unit with the remaining 10% via CPF. That means there is no cash outlay required for a HDB loan. Bank loans on the other hand are capped at 75% of purchase price of the unit with a mandatory 5% cash downpayment and 20% in a mix of CPF or cash as you desire. Both HDB and bank loans have a maximum tenure of 25 years. The crucial difference when choosing between a HDB loan or bank loan are the interest rates. HDB loans have interest rates currently at 2.60% while interest rates for bank loans historically can go as low as 1.20%. Therefore, if you are looking for a lower down payment and long term stability for your interest rates and can afford higher monthly instalments, a HDB loan is better suited for you. However, if saving on interest costs and having lower monthly instalments is your priority then a bank loan is the recommended choice. It is always best to compare which bank has the best HDB home loan rates in Singapore.

How can I get a HDB home loan?

You can secure a HDB home loan from either HDB directly or any bank in Singapore. For a bank loan, we will advise on the best required documents the bank requires to determine your maximum loan amount. Once you have secured your OTP (Option To Purchase) for your desired flat, just submit the valuation report to the bank and an official letter of offer from the bank will be generated. With the letter of offer, you will then have secured your HDB home loan.

Who is eligible for a HDB loan?

Any Singapore citizen or permanent resident above the age of 21 years and with a minimum annual income of $30,000 is eligible for a HDB loan from a bank.

What is the current HDB home loan interest rate?

HDB loan rate directly from HDB is currently at 2.60%. Banks loan rates for HDB flats differ periodically and can go as low as 1.20% depending on special approval from different banks and the type of HDB flat you are purchasing

Can CPF funds pay for legal fees and property stamp duties?

Yes, most definitely. You can use the CPF funds available in your Ordinary Account (OA) to fully pay for legal and stamp duty fees. But always calculate the property stamp duty amount payable first and then double check if there are sufficient funds in your CPF OA account.

Are your partner law firms on the bank’s panel and CPF board?

Yes. Our partner law firms will act for the bank, CPF board and yourself. There will be no need to engage any other law firms on your end.

How much bank loan can I get for a HDB?

HDB bank loans have a maximum quantum of 75% of the purchase price. Therefore, if you are purchasing a HDB unit at $500,000, the bank loan that can be taken is up to $375,000 with $25,000 (5%) strictly in cash and the remaining $100,000 (20%) in CPF or cash.The approval process for a HDB bank loan takes into account the Mortgage Servicing Ratio (MSR) and Total Debt Servicing Ratio (TDSR). Both these ratios are directly related to your gross monthly income and debt obligations such as credit card balance, car loans and any other type of loans with a monthly installment. To maximise your HDB bank loan, it is recommended to keep your monthly debt obligations to a minimum atleast 2 months before applying to any bank in Singapore.

Still unsure on the best home loan deals for your NEW HDB?

Find the best home loan for your new HDB home with us today.

contact us

Get Exclusive Rates & Rewards!