S$400,000 Hdb Loan: Monthly Repayment and Total Interest
A S$400,000 HDB loan at 2.6% over 25 years costs S$1,814.68 a month. Over the full term you repay S$544,403.41, of which S$144,403.41 is interest.
Repayment by tenure
| Tenure | Monthly | Total interest |
|---|---|---|
| 10 years | S$3,789.01 | S$54,681.55 |
| 15 years | S$2,686.03 | S$83,484.93 |
| 20 years | S$2,139.15 | S$113,396.53 |
| 25 years | S$1,814.68 | S$144,403.41 |
If rates change
| Rate | Monthly instalment |
|---|---|
| 2% | S$1,695.42 |
| 2.5% | S$1,794.47 |
| 3% | S$1,896.85 |
| 3.5% | S$2,002.49 |
| 4% | S$2,111.35 |
| 4.5% | S$2,223.33 |
Income needed
Under the 30% Mortgage Servicing Ratio for HDB flats, an instalment of S$1,814.68 needs a gross household income of at least S$6,048.93 a month. Under the 55% TDSR, it needs at least S$3,299.41 with no other debts. Banks test affordability at a higher stress-test rate, so the real requirement is higher for bank loans.
Things to check
- HDB loans are capped at 25 years and must be fully repaid by age 65.
- Stamp duty is based on the purchase price or market value, whichever is higher.
- Budget for legal fees, valuation, renovation and moving costs on top of the downpayment and stamp duties.
- Stamp duty must be paid within 14 days of signing, so have the cash ready before you exercise the option.
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.
Singapore's property market is shaped by cooling measures introduced since 2009, including Additional Buyer's Stamp Duty, loan-to-value limits and debt servicing ratios. These rules are adjusted when the market runs hot, so the numbers you see today may differ from what friends paid a few years ago.
Most Singaporeans live in HDB flats, which can be financed with an HDB concessionary loan at 0.1% above the CPF Ordinary Account rate or with a bank loan. Private property must be financed with a bank loan, and banks offer fixed, floating and SORA-pegged packages.
Related calculations
- Property Affordability Calculator: Estimates the biggest loan and property price your income supports under TDSR, using the stress-test rate banks apply.
- Rental Yield Calculator: Measures the return from rent before and after costs such as property tax, maintenance fees and agent fees.
- Home Loan Refinancing Calculator: Compares your current mortgage with a new rate to show the monthly saving and how long switching costs take to recover.
- Property Downpayment Calculator: Splits the downpayment into cash and CPF and shows the remaining loan.
Model your own loan in the S$400,000 HDB Loan Repayment Calculator.
Run your own numbers: S$400,000 HDB Loan Repayment Calculator