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Data from official sources · Made in Argentina

TDSR and MSR calculator: how much can you borrow?

Banks in Singapore must check that your debt repayments stay within limits set by MAS before they grant a property loan.

Enter your income, your current debts and the loan you are looking at to see the largest monthly instalment and loan that fit within those limits.

The average of the last 12 months.

Property you are buying

The rate after any lock-in period, usually shown as the thereafter rate.

How it's calculated

  1. Your income counts in full if it is fixed. Variable income, such as bonus and commission, and rental income count after a haircut of at least 30%.
  2. All your monthly debt repayments, including the new loan, must stay within 55% of that income. For an HDB flat or an EC in its minimum occupation period, your property loans must also stay within 30%.
  3. The new loan is tested at the higher of the floor rate (4% for homes, 5% for non-residential property) and the highest rate in your loan offer.
  4. The largest loan is the amount that instalment can repay over your tenure at that test rate.

An example

With $8,000 of fixed income and no other debts, a 30-year loan for a condo is tested at 4%, so the most you can borrow is about $921,600.

Frequently asked questions

Does TDSR apply to HDB loans?

These MAS rules are for loans from banks and other financial institutions. For HDB housing loans, check HDB's own rules.

What is the thereafter interest rate?

It is the highest rate a bank charges at any time during the loan, usually after the lock-in period. If it is pegged to SORA, the bank uses the latest SORA plus the spread.

Can a bank lend above the TDSR limit?

Only in exceptional cases, with a stricter credit evaluation, and the bank must report such loans to MAS.

Is this the loan I will get?

Not necessarily. Loan-to-value limits also apply, and they depend on the loan tenure, your age and your existing housing loans.

Key terms

TDSR
Total Debt Servicing Ratio: the share of your gross monthly income that goes to all debt repayments.
MSR
Mortgage Servicing Ratio: the share of your gross monthly income that goes to property loans, for HDB flats and ECs.
Haircut
A cut applied to income that can vary, so only part of it counts.

Up-to-date official data

Data checked against the official source on .

We check the official sources automatically, every day.

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