S$700,000 Hdb Loan: Monthly Repayment and Total Interest
A S$700,000 HDB loan at 2.6% over 25 years costs S$3,175.69 a month. Over the full term you repay S$952,705.97, of which S$252,705.97 is interest.
Repayment by tenure
| Tenure | Monthly | Total interest |
|---|---|---|
| 10 years | S$6,630.77 | S$95,692.71 |
| 15 years | S$4,700.55 | S$146,098.62 |
| 20 years | S$3,743.52 | S$198,443.93 |
| 25 years | S$3,175.69 | S$252,705.97 |
If rates change
| Rate | Monthly instalment |
|---|---|
| 2% | S$2,966.98 |
| 2.5% | S$3,140.32 |
| 3% | S$3,319.48 |
| 3.5% | S$3,504.36 |
| 4% | S$3,694.86 |
| 4.5% | S$3,890.83 |
Income needed
Under the 30% Mortgage Servicing Ratio for HDB flats, an instalment of S$3,175.69 needs a gross household income of at least S$10,585.62 a month. Under the 55% TDSR, it needs at least S$5,773.98 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
- Using CPF for housing reduces what is left for retirement, and you must refund the amount used plus accrued interest when you sell.
- A second housing loan drops the LTV limit sharply and raises the minimum cash downpayment to 25%.
- Stamp duty must be paid within 14 days of signing, so have the cash ready before you exercise the option.
- Banks test your TDSR at a stress-test rate, not the advertised rate, so your borrowing limit is lower than you might expect.
Background
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.
Stamp duties are paid upfront. Buyer's Stamp Duty applies to every purchase at tiered rates up to 6%, while ABSD depends on the buyer's residency status and how many residential properties they already own. Sellers who dispose of a property within the holding period pay Seller's Stamp Duty.
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.
Related calculations
- Property Downpayment Calculator: Splits the downpayment into cash and CPF and shows the remaining loan.
- Buyer's Stamp Duty (BSD) Calculator: Calculates Buyer's Stamp Duty on a Singapore residential property using the tiered rates from 1% to 6%.
- Additional Buyer's Stamp Duty (ABSD) Calculator: Calculates ABSD by buyer profile and the number of residential properties owned, using the rates in force since 27 April 2023.
- Total Property Stamp Duty Calculator: Adds BSD and ABSD together so you know the full stamp duty bill before you sign an option to purchase.
Model your own loan in the S$700,000 HDB Loan Repayment Calculator.
Run your own numbers: S$700,000 HDB Loan Repayment Calculator