Best HDB Bank Loan Packages in Singapore
With over 16 banks and financial institutions offering home loans in Singapore, there are more than 100 loan package variations. We compared the latest HDB home loan rates and promotions offered by major banks such as DBS, OCBC, POSB, Maybank, Citibank and more, to provide you with the best fixed-rate and floating-rate package options. Rates are updated regularly to help you find the most competitive packages.
Updated as of Oct 2026.
Subject to availability. Terms and conditions apply.
FIXED RATE
1.75%*
Refinance Cash Incentives/Subsidies
Fixed 2 Years
Min $1m Loan
FLOATING RATE
0.2%* + 1m/3m Comp SORA
Not Applicable for BTO
Refinance Cash Incentives/Subsidies
Min $1m loan, Enquire for more details
Current 3m SORA Rate:
1.23%
Updated: As of 2026-10-09 (Friday)
Source: MAS
SORA is the benchmark used for many floating-rate home loan packages in Singapore. For SORA-linked HDB bank loans, your interest rate can move as SORA changes, so compare both the prevailing SORA rate and the bank's spread when evaluating a package.
HDB Bank Loan vs HDB Concessionary Housing Loan - Which Should You Choose?
If you are eligible for both, the choice between a Bank Loan for HDB and a Concessionary HDB Housing Loan mainly comes down to interest-rate structure, cash needed upfront and repayment flexibility. HDB loans offer a stable 2.6% interest rate with no lock-in, while bank loans offer fixed or floating packages that may be more competitive depending on prevailing interest rates.
If you want to understand the HDB housing loan in more detail, including who is eligible and the key financing requirements, see our HDB Home Loan guide.
| Feature | HDB Home Loan | HDB Bank Loan |
|---|---|---|
| Interest Rate | Fixed at 2.6% (pegged to CPF OA + 0.1%) | Market-based - Both Fixed-rate packages and Floating-rate home loan packages are available |
| Downpayment | 25% (except for option fee, the remaining amount can be fully paid using CPF OA) | 25% (minimum 5% cash) |
| Loan Tenure | Maximum 25 years | Maximum 30 years |
| Repayment Flexibility / Lock-in Period | No lock-in, penalty-free repayment | Packages commonly have a 2–3 year lock-in period; may offer lower rates in a low-interest-rate environment. |
| Rate Certainty | Rate structure is stable and predictable | Depends on package chosen and market rates |
| Best Suited For | Buyers prioritising stability & simplicity | Borrowers optimising for lower rates & financing flexibility |
For a more detailed comparison, see our guide to the 10 key differences between an HDB home loan and a bank loan , including CPF usage, repayment flexibility, eligibility and refinancing considerations.
HDB Bank Loan Downpayment and Eligibility
For an eligible HDB purchase, a bank loan can generally finance up to 75% of the purchase price or property valuation, whichever is lower, subject to the applicable age and loan-tenure conditions. Your actual loan amount may also depend on your income, existing financial commitments, credit profile, outstanding housing loans and the bank's assessment.
Eligibility and Bank Assessment
Banks assess both whether you can take the loan and whether the requested financing is suitable for your financial profile.
HDB Ownership and Property Eligibility
- You must first be eligible to own or purchase the HDB flat under the applicable HDB rules.
- Taking a bank loan does not replace HDB's ownership, purchase or resale eligibility requirements.
- Bank financing may be used for an eligible HDB flat purchase or, where applicable, the refinancing of an existing HDB housing loan.
Age and Loan Tenure
- The minimum age to apply for a bank housing loan is generally 21 years.
- The maximum loan tenure for an HDB flat is generally 30 years.
- To qualify for the standard up to 75% LTV on a first housing loan, the loan tenure should generally not exceed 25 years, and the applicable borrower age at the end of the loan tenure should not exceed 65 years.
- For joint borrowers, the applicable age is assessed using the Income-Weighted Average Age (IWAA) .
- If the applicable age or tenure threshold is exceeded, the maximum LTV for a first housing loan can reduce from 75% to 55%.
Income and Credit Assessment
- Banks assess your income, employment stability, CPF contribution history, existing financial commitments and credit profile.
- Salaried borrowers will generally need to provide the income and employment documents required by the bank.
- Self-employed applicants may be asked to provide 1 to 3 years of Notices of Assessment (NOAs), depending on the bank and borrower profile.
- Meeting the regulatory limits does not guarantee approval. The final loan amount and terms remain subject to the bank's credit assessment and lending policy.
Downpayment and Financing Limits
Your applicable LTV determines how much the bank can finance and how much cash or CPF you need to provide upfront.
Loan-to-Value (LTV) Limits
- For a first housing loan, bank financing can generally be up to 75% LTV, subject to the applicable age and loan-tenure conditions.
- The LTV is applied to the purchase price or property valuation, whichever is lower.
- If the purchase price is higher than the valuation, the difference is the Cash Over Valuation (COV) and must be paid fully in cash.
- If the relevant age or tenure threshold is exceeded, the maximum LTV for a first housing loan can reduce to 55%.
- If you already have an outstanding housing loan, a lower LTV limit and higher cash downpayment requirement may apply.
See our detailed guide to LTV limits and downpayment requirements in Singapore for the full rules on existing housing loans, age, loan tenure and cash downpayment.
Downpayment and Cash Requirement
- With the standard 75% LTV, you need to fund at least the remaining 25% of the applicable property value.
- At least 5% must be paid in cash.
- The remaining 20% can generally be paid using CPF Ordinary Account savings, cash, or a combination of both.
- Any Cash Over Valuation (COV) must be paid fully in cash and is in addition to the minimum cash downpayment.
- If the applicable LTV is reduced to 55%, the minimum cash requirement increases to 10%.
- If you already have an outstanding housing loan, a higher cash downpayment may apply together with the lower LTV limit.
MSR and TDSR
- For an HDB flat purchase, the Mortgage Servicing Ratio (MSR) generally limits the monthly housing loan repayment to 30% of gross monthly income.
- The Total Debt Servicing Ratio (TDSR) generally limits total monthly debt obligations to 55% of gross monthly income, where applicable.
- Certain owner-occupied refinancing or repricing situations may qualify for a TDSR exemption, subject to the applicable rules and bank assessment.
Learn more about TDSR and MSR rules for home loans in Singapore .
Important: The regulatory LTV is a maximum, not an entitlement. A bank may approve a lower loan amount based on your financial profile, property, credit assessment or its internal lending criteria.
Who Must Take a Bank Loan (Ineligible for HDB Loan)
A bank loan is required when you are eligible to buy the HDB flat but do not qualify for an HDB housing loan. Common reasons include an all-SPR household, recent private-property ownership, having already taken two HDB housing loans, exceeding the applicable income ceiling, or certain commercial or industrial property interests.
All Applicants Are Singapore Permanent Residents
An HDB housing loan requires at least one Singapore Citizen applicant. If the household is made up entirely of Singapore Permanent Residents (SPRs), an HDB housing loan is not available and the purchase would need to be financed with a bank loan.
You Own or Recently Disposed of Private Property
If you have owned or disposed of a private residential property, whether in Singapore or overseas, within the last 30 months, you will generally not qualify for an HDB housing loan during that period.
You Have Already Taken Two HDB Housing Loans
HDB housing loans are generally limited to two per household. If your household has already taken two HDB housing loans, a subsequent HDB flat purchase would generally need to be financed through a bank.
Your Household Income Exceeds the HDB Housing Loan Ceiling*
For HFE applications submitted from 24 August 2026, the applicable HDB housing loan income ceilings are:
- S$16,000 for families
- S$24,000 for extended families, with each family nucleus capped at S$16,000
- S$8,000 for eligible Single Singapore Citizen applicants
- S$16,000 for eligible Joint Singles Scheme applicants
If your household income exceeds the applicable HDB housing loan ceiling, you may need to use bank financing instead.
You Own Interests in More Than One Commercial or Industrial Property
A household that owns or has an interest in more than one commercial or industrial property may not qualify for an HDB housing loan.
Where the additional non-residential property interests have been disposed of, the current rule requires the relevant disposal to have been completed at least 30 months before the HFE application.
Want to understand the HDB financing option in more detail? See our HDB Home Loan eligibility requirements guide for the full criteria, or view our HDB vs bank loan comparison to understand the key differences between both financing options.
Important: Being ineligible for an HDB housing loan does not automatically mean you will qualify for a bank loan. Bank approval still depends on factors such as income, MSR and TDSR where applicable, credit profile, loan tenure, property valuation and the bank's lending criteria.
* At the National Day Rally on 23 August 2026, changes to the income ceilings for HDB flats and Executive Condominiums were announced. The revised HDB housing loan ceilings apply to eligible households submitting an HFE application from 24 August 2026. See HDB's official announcement on the revised income ceilings and our HDB home loan eligibility criteria for the full requirements.
HDB Bank Loan for BTO vs Resale Flats
For both BTO and resale HDB flats, the core bank-loan rules are broadly similar, but the financing process can differ in areas such as valuation, grants, cash outlay and loan disbursement timing. The table below summarises the key differences to consider when comparing bank financing for a BTO or resale flat.
| Parameter | BTO Flat (New HDB Purchase) | Resale HDB Flat |
|---|---|---|
| Maximum Loan Amount (LTV) | Up to 75% of the flat's purchase price (as set by HDB). Or 55% if loan tenure is more than 25 years or beyond age 65. | For first housing loan, up to 75% of the resale purchase price or the flat's valuation, whichever is lower. Or 55% if loan tenure is more than 25 years or beyond age 65. |
| Minimum Downpayment | At 75% LTV, the buyer funds the remaining 25% of the purchase price. At 55% LTV, the required downpayment increases to 45%. | 25% (for 75% LTV) or 45% (for 55% LTV) of the price or flat's valuation, whichever is lower. Any cash over valuation (COV) must be paid in cash. |
| Cash Portion of Downpayment | For 75% LTV, at least 5% of the purchase price must be paid in cash. The remaining 20% downpayment can come from cash and/or CPF. For 55% LTV, 10% must be in cash, remaining can be from cash and/or CPF. | Same as BTO, with any COV paid in cash. |
| MSR and TDSR Requirements | Both the 30% MSR and 55% TDSR limits apply to HDB bank loan purchases. | Same - must satisfy 30% MSR and 55% TDSR limits. |
| Loan Tenure Limits | Up to 30 years. For a first housing loan to qualify for up to 75% LTV, the loan tenure generally must not exceed 25 years, and the applicable borrower age at loan maturity must not exceed 65. If either threshold is exceeded, the maximum LTV may be reduced to 55%. A new 99-year BTO lease generally does not restrict the available tenure. | Same - Up to 30 years, subject to the flat’s remaining lease. The same 25-year tenure and age-65 conditions apply for a first housing loan to qualify for up to 75% LTV; otherwise, the maximum LTV may be reduced to 55%. For older resale flats, banks may offer a shorter tenure or lower loan quantum. |
| CPF Usage | CPF OA can be used for the downpayment after the applicable minimum cash portion, and for monthly instalments. | CPF usage is subject to the remaining lease and may be prorated if the lease does not cover the youngest buyer to age 95. The flat must generally have at least 20 years of remaining lease for CPF usage. Any COV must be paid fully in cash. |
| Option Fee | Flat-rate option fee (also known as the booking fee) is paid when selecting the flat. This is in cash and forms part of the downpayment: $500 (2-room), $1,000 (3-room), $2,000 (4-room+). | The Option Fee is negotiated between $1 and $1,000 (usually $1,000). The Option Exercise Fee can be up to $4,000, with total option fees capped at $5,000. Both are paid in cash and form part of the purchase price. |
| Timing of Downpayment | For 75% LTV, 20% - during signing of Agreement for Lease 5% - during key collection For 55% LTV, 20% - during signing of Agreement for Lease 25% - during key collection Staggered Downpayment Scheme is available for Buyers with at least 1 first-timer applicant, where the younger applicant is under 30 years old, purchasing a 5-room or smaller flat. It is also available for flat owners who right-size to a 3-room or smaller flat. Deferred income assessment may also be available to eligible young couples, with income assessed closer to key collection. (Refer to HDB Booking of Flat for more details.) During the construction period, no loan instalments are needed until the loan is disbursed at completion. | The full applicable downpayment (minus option fees paid) must be paid during the HDB completion appointment (approximately 12 weeks from OTP exercise). |
| Eligibility Rules | Stricter: The household must include at least one Singapore Citizen, meet the applicable income ceiling, and qualify under the relevant HDB eligibility scheme. Eligible single Singapore Citizens aged 35 or above may apply for a 2-room Flexi Standard, Plus or Prime flat in any location.^^ | More Flexible: Unclassified/Standard resale flats may be bought by eligible Singapore Citizen or PR households, with no purchase income ceiling, though CPF Housing Grants have income limits. Plus and Prime resale flats require at least one Singapore Citizen. For an SPR-only household, all applicants and core occupiers must have held PR status for at least 3 years. Eligible single Singapore Citizens aged 35 or above may also buy resale flats on their own, subject to flat-type rules. Plus and Prime resale flats have tighter citizenship and income requirements.^ |
| Valuation Treatment | No COV applies to a direct HDB purchase; the HDB selling price is taken as the valuation. | Loan and CPF usage based on valuation; cash over valuation (COV) must be paid in cash. |
| Use of Grants | Eligible first-timer buyers may receive the Enhanced CPF Housing Grant (EHG) of up to $120,000 for families or $60,000 for singles, depending on household income and eligibility. The EHG income ceiling remains $9,000 for first-timer families and $4,500 for a single buying alone.^^ | Eligible first-timer buyers may receive several grants. The CPF Housing Grant provides up to $80,000 for families buying 2- to 4-room flats or $50,000 for 5-room or larger flats; eligible singles may receive $40,000 or $25,000 respectively. They may also qualify for the EHG of up to $120,000 for families or $60,000 for singles, and the Proximity Housing Grant (PHG) of $30,000 for families living with parents/children or $20,000 when living near them. Singles receive $15,000 or $10,000 respectively.^ These grants are credited to CPF and can be used towards the flat purchase (they effectively reduce the cash/CPF you need to pay). |
| Early Repayment | Subject to the bank package's lock-in period and prepayment terms; Partial or full repayment during lock-in may incur penalties. Some bank promotions allow for penalty-free prepayment - always check with us before applying! | Same - lock-in period and prepayment penalties as per bank's terms. Some bank promotions allow for early repayment - always check with us before applying! |
^ Income ceilings and grant eligibility vary by household type and flat classification. From 24 August 2026, the income ceiling for families buying a resale flat with the CPF Housing Grant is $16,000, and $8,000 for singles buying alone. Buyers of resale Plus and Prime flats may qualify for the applicable resale CPF housing grants, subject to the relevant buyer and grant criteria. Prime resale flats follow the prevailing BTO eligibility criteria. Refer to HDB’s official announcement on the 2026 income ceiling changes for details.
How to Compare HDB Bank Loan Packages
The lowest headline rate is not always the most suitable package. Compare the total package, including the rate structure, lock-in period, repayment flexibility, subsidies and fees, and whether the package fits your expected property plans, such as selling, upgrading, refinancing or making an early repayment.
Fixed vs Floating
A fixed-rate HDB bank loan offers repayment certainty, which is ideal if you value stability and predictable budgeting. On the other hand, a floating-rate loan may offer lower starting rates and greater flexibility to refinance later, but repayments can fluctuate when market rates change. See our fixed vs floating home loan comparison .
Lock-In and Flexibility
Check early repayment, sale and refinancing restrictions if your property plans may change within the next few years. Learn how a mortgage lock-in period can affect your options.
Compare the Total Package
Consider legal subsidies, valuation fees, cash incentives and other conditions together with the interest rate. A small rate difference may matter less than the flexibility a package gives you for your expected holding or refinancing timeline.
LoanSaver Insight: When two packages are close in rate, the better fit may come down to flexibility and how well the loan structure matches your property plans, rather than the small difference in headline interest rate.
Frequently Asked Questions (FAQ) on HDB Bank Loan
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