Enjoy Best Housing Loan Rates For Your New HDB Flat

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

Exclusive REWARDs

Discounted legal fees

Up to $800

Shopping Vouchers

Up to $3,300

Compare Rates

BANK	LOAN TYPE	YEAR 1	YEAR 2	YEAR 3	3 YEAR AVG	YEAR 4	YEAR 5	YEAR 6
Limited Promo*	3 Year Fixed	3.70% Fixed	3.70% Fixed	3.70% Fixed	3.70%	4.15% Floating	4.15% Floating	4.15% Floating

Limited Promo*	3 Year Fixed	3.75% Fixed	3.75% Fixed	3.75% Fixed	3.75%	4.14% Floating	4.14% Floating	4.14% Floating

Citibank	3 Year Fixed	3.75% Fixed	3.75% Fixed	3.75% Fixed	3.75%	4.24% Floating	4.24% Floating	4.24% Floating

Limited Promo*	3 Year Fixed	3.80% Fixed	3.80% Fixed	3.80% Fixed	3.80%	4.14% Floating	4.14% Floating	4.14% Floating

Limited Promo*	2 Year Fixed	3.70% Fixed	3.70% Fixed	4.04% Floating	3.81%	4.04% Floating	4.04% Floating	4.04% Floating

DBS	3 Year Fixed	3.85% Fixed	3.85% Fixed	3.85% Fixed	3.85%	4.14% Floating	4.14% Floating	4.14% Floating

OCBC	3 Year Fixed	3.85% Fixed	3.85% Fixed	3.85% Fixed	3.85%	4.14% Floating	4.14% Floating	4.14% Floating

CIMB	2 Year Fixed	3.80% Fixed	3.80% Fixed	4.14% Floating	3.91%	Floating% Floating	3.91% Floating	3.91% Floating

BANK	LOAN TYPE	YEAR 1	YEAR 2	YEAR 3	3 YEAR AVG	YEAR 4	YEAR 5	YEAR 6
Limited Promo*	Board Rate	2.60%	2.60%	2.60%	2.60%	2.60%	2.60%	2.60%

Limited Promo*	3-month SORA	3.50%	3.50%	3.50%	3.50%	3.90%	3.90%	3.90%

SCB	3-month SORA	3.65%	3.65%	3.65%	3.65%	4.05%	4.05%	4.05%

Maybank	3-month SORA	3.70%	3.70%	3.70%	3.70%	4.40%	4.40%	4.40%

CIMB	3-month SORA	3.65%	3.70%	3.85%	3.73%	4.25%	4.25%	4.25%

Maybank	3-month SORA	3.75%	3.75%	3.75%	3.75%	4.40%	4.40%	4.40%

DBS	3-month SORA	3.80%	3.80%	3.80%	3.80%	4.15%	4.15%	4.15%

OCBC	3-month SORA	3.75%	3.75%	3.95%	3.82%	4.15%	4.15%	4.15%

HSBC	1-month SORA	4.00%	4.00%	4.00%	4.00%	4.65%	4.65%	4.65%

Maybank	1-month SORA	4.00%	4.00%	5.15%	4.38%	5.15%	5.15%	5.15%

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!

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FREQUENTLY ASKED QUESTIONS ABOUT HDB BANK LOANS

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 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 down payment 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, a bank loan will be 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 at least 2 months before applying to any bank in Singapore.