S$650,000 Hdb Loan: Monthly Repayment and Total Interest
A S$650,000 HDB loan at 2.6% over 25 years costs S$2,948.85 a month. Over the full term you repay S$884,655.54, of which S$234,655.54 is interest.
Repayment by tenure
| Tenure | Monthly | Total interest |
|---|---|---|
| 10 years | S$6,157.15 | S$88,857.51 |
| 15 years | S$4,364.79 | S$135,663.01 |
| 20 years | S$3,476.12 | S$184,269.36 |
| 25 years | S$2,948.85 | S$234,655.54 |
If rates change
| Rate | Monthly instalment |
|---|---|
| 2% | S$2,755.05 |
| 2.5% | S$2,916.01 |
| 3% | S$3,082.37 |
| 3.5% | S$3,254.05 |
| 4% | S$3,430.94 |
| 4.5% | S$3,612.91 |
Income needed
Under the 30% Mortgage Servicing Ratio for HDB flats, an instalment of S$2,948.85 needs a gross household income of at least S$9,829.51 a month. Under the 55% TDSR, it needs at least S$5,361.55 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
- Banks test your TDSR at a stress-test rate, not the advertised rate, so your borrowing limit is lower than you might expect.
- Stamp duty must be paid within 14 days of signing, so have the cash ready before you exercise the option.
- A second housing loan drops the LTV limit sharply and raises the minimum cash downpayment to 25%.
- HDB loans are capped at 25 years and must be fully repaid by age 65.
Background
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.
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.
The Total Debt Servicing Ratio limits monthly debt repayments to 55% of gross monthly income for any property loan, and the Mortgage Servicing Ratio limits the housing instalment to 30% of income for HDB flats and new executive condominiums. Banks apply a medium-term interest rate in these tests rather than the rate you will actually pay.
Related calculations
- Seller's Stamp Duty (SSD) Calculator: Calculates SSD for residential property bought on or after 4 July 2025 and sold within four years.
- HDB Loan Calculator: Calculates monthly repayments on an HDB concessionary loan, which is pegged at 0.1% above the CPF Ordinary Account rate (2.6% a year).
- Home Loan (Mortgage) Calculator: Estimates monthly repayments on a bank home loan for private property or HDB flats.
- Mortgage Servicing Ratio (MSR) Calculator: MSR caps the instalment on HDB flats and ECs bought from developers at 30% of gross monthly income.
Model your own loan in the S$650,000 HDB Loan Repayment Calculator.
Run your own numbers: S$650,000 HDB Loan Repayment Calculator