S$1,000,000 Home Loan Repayment Calculator
Monthly repayments on a S$1,000,000 Singapore bank home loan at different rates and tenures.
Result
- Monthly instalment
- S$4,108.94
- Total interest
- S$479,220.00
- Total repaid
- S$1,479,220.00
How to use the s$1,000,000 home loan repayment calculator
- Enter the loan amount (S$).
- Enter the interest rate (% a year).
- Enter the loan tenure (years).
- The results update as you type, or press Calculate.
- Read the monthly instalment first, then the supporting figures below it.
Formula
Monthly instalment = P × r ÷ (1 − (1 + r)^−n).
Worked example
For example, with these inputs:
- Loan amount (S$): 1,000,000
- Interest rate (% a year): 2.8
- Loan tenure (years): 30
the calculator returns:
- Monthly instalment: S$4,108.94
- Total interest: S$479,220.00
- Total repaid: S$1,479,220.00
Monthly instalment by rate and tenure
| Rate | 20 years | 25 years | 30 years |
|---|---|---|---|
| 2.25% | S$5,178.08 | S$4,361.31 | S$3,822.46 |
| 2.5% | S$5,299.03 | S$4,486.17 | S$3,951.21 |
| 2.75% | S$5,421.66 | S$4,613.11 | S$4,082.41 |
| 3% | S$5,545.98 | S$4,742.11 | S$4,216.04 |
| 3.25% | S$5,671.96 | S$4,873.16 | S$4,352.06 |
| 3.5% | S$5,799.60 | S$5,006.24 | S$4,490.45 |
| 4% | S$6,059.80 | S$5,278.37 | S$4,774.15 |
Background
Beyond the price, buyers should budget for legal fees, valuation, home insurance, renovation and furnishing. Running the figures in advance helps you decide how much cash to hold back and whether a smaller loan or longer tenure makes more sense.
CPF Ordinary Account savings can pay for the downpayment, stamp duties and monthly instalments, but using CPF reduces the money compounding for retirement, and the amount withdrawn plus accrued interest must be refunded to your CPF account when you sell.
Frequently asked questions
How does the s$1,000,000 home loan repayment calculator work?
It applies this formula: Monthly instalment = P × r ÷ (1 − (1 + r)^−n).
Should I rely on this before signing?
Use it to plan, then confirm the figures with your banker, lawyer or the IRAS stamp duty calculator before you exercise an option to purchase.