A "low interest" loan shouldn't mean you have very little interest in paying it back!

    DBS Home Loan Singapore

    DBS was established as Development Bank of Singapore Limited in the year 1968 by Economic Development Board, with the aim to strengthen the industrialization of the country by offering the required baking services for existing and new industrial, processing and manufacturing units. DBS is known for having played a fundamental role in reinforcing Singapore’s economic growth and bringing in foreign investments into the industrial sector. Ultimately, owing to its growth from being limited to its presence as a region-centric bank

    Today, DBS is recognized for its principal market position in the South East Asian banking scenario as one of the largest banks in Asia. DBS merged with POSB in the year 1998, and went ahead to become the bank with the highest number of branches in Singapore, with nearly 2300 branches and self-servicing centres. Its substantial chunk of more than 4 million customers in the Asian hemisphere and operational stronghold was awarded with the title of ‘Safest Bank in Asia’ from the year 2009 to 2014 by Global Finance.

    You’re probably eligible for an DBS Bank Home Loan if you are

    DBS Bank Home Loan Minimum Age

    No Info

     DBS Bank Home Loan Maximum Age

    Less than 65 years

    DBS Bank Home Loan Eligible Employment Type

    Salaried / Self-employed with regular income

    DBS Bank Home Loan Minimum Income

    Earn more than the minimum income required

    Your DBS Bank Home Loan amount eligibility is based on these factors

    DBS Bank Home Loan Minimum Salary

    EMI limited to about 50% of monthly income

    DBS Bank Home Loan Maximum Loan to property value

    No Info

    DBS Bank Home Loan EMI

    EMIs of other loans lower your eligibility

    Increase your eligible DBS Bank Home Loan amount by these steps

    DBS Bank Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant, and her income will add to your eligibility

    DBS Bank Home Loan Maximum Tenure

    Choose longer tenure loan up to 30 years

    DBS Bank Home Loan Add parents as Co-applicant

    Alternatively add your parents

    Documentation needed to apply for an DBS Bank Home Loan

    • 1. Copy of NRIC/Passport of all Applicants & Owners
    • 2. Latest Computerised Payslip (salaried)
    • 3. CPF Statement – Latest 12 Months Contribution History (salaried)
    • 4. 2 Years Income Tax Assessment (self-employed)
    • 5. Option to Purchase or Sale & Purchase Agreement (for new purchase)
    • 6. Tenancy Agreements (if any)
    • 7. Evidence of sale of existing property (if applicable)

    DBS Bank Home Loan DetailsUpdated on 11 Dec 2018

    DBS Bank Home Loan Details
    Interest Rate 1.20% P.a for first 5 years
    Margin of Finance Upto 80%
    Loan Tenure 25 years

    DBS is Singapore’s largest banks and offers a spate of banking and financial products to Singaporeans, Permanent Residents and Foreigners. Home loans are one of the various credit products that the bank offers. The bank offers housing loans to help Singaporeans finance the purchase of a new property, the purchase of a HDB flat or construct a new home. If you are looking for a home loan in Singapore, DBS might be the ideal option for you. Besides giving you the option of taking a loan to finance the purchase of your property, the bank also allows you to refinance your home loan.

    Let’s take a look at some salient features of the DBS Home Loan product. We look at the interest rates, and various benefits associated with choosing DBS for your home loan.


    Types of Housing Loans offered by DBS in Singapore

    Private Property Loan

    The private property home loan offered by DBS lets you purchase a private property in Singapore. The bank funds up to 80% of the value of the property.

    The private home loan offered by DBS essentially comes with two interest rate packages, which we will look at a little later.

    HDB Loan

    DBS also provides you with a loan to purchase your HDB flat. The interest rate is pegged to DBS Bank’s fixed deposit interest rate. You can either fund a made-to-order HDB flat or a resale HDB flat with the DBS HDB Home Loan.

    HDB Loans come with a lower rate of interest and concessionary rate packages. There are basically two types of rate packages on HDB Loans – the floating rate package and the HDB Concessionary Floating Rate Package.

    Home Loan refinancing Option

    If you have an existing loan with another bank, you can refinance your home loan with DBS at a lower rate of interest.

    DBS Bridging Loan 

    Waiting for your old property to sell before you buy a new one? DBS Bridging Loan can help you make the down payment for the new property, wherein you can repay the principal once you receive the sale proceeds for your existing property.

    Features and Benefits of the DBS Home Loan

    • DBS offers home loans at affordable interest rates. These rates are much lower than rates offered by most banks in Singapore.
    • DBS allows you to refinance your existing home loan at a lower rate of interest.
    • The application process is simple and convenient. Moreover, applying for your home loan online will let you enjoy a lower rate of interest in accordance with DBS Bank’s promotional offer.
    • You can customize your loan tenure as per your requirements. Tenures depend on the size of your loan and the type of house you want to buy. HDB loans are available for a maximum tenure of 30 years and private property tenures can go up to 35 years.
    • You can also choose from two different rate packages – fixed interest rate package and a floating interest rate package. The DBS HDB Loan comes with a subsidized HDB Home Loan rate package.
    • The rates are transparent and are pegged to the interest rates of fixed deposits offered by DBS Bank.
    • Through the DBS Home Loan, you can realize your dream of owning the perfect home. The loan amount is disbursed almost immediately (in a matter of a few days), relieving you of any pressure in handling large amounts involved in home loan applications.
    • You will have to make monthly repayments towards your loan. Late payments or defaults will attract penalty charges.
    • For loan amounts with tenures greater than 25 years, the total value of the loan can be reduced by DBS to about 60% of the property value.

    DBS Home Loan Interest Rates

    DBS offers two interest rate packages on its home loans – a fixed interest rate package and a floating rate package.

    Under the floating rate package, your interest rate will be pegged to DBS Bank’s fixed deposit interest rate and it is capped at 1.72% for the first two years.

    The rate on the home loan is pegged to DBS Bank’s 9-month fixed deposit rate. This interest rate is for purchase of a property.

    If you wish to purchase a property which is under construction or you wish to construct your property, the interest rate will be slightly more than the existing rate on purchase of a private property. Here is a detailed look at the interest rates offered on home loans by DBS.

    You can also choose a fixed interest rate package. Under the fixed rate package regime, the interest remains fixed throughout the loan tenure. You can also pre-close the home loan if you wish.  

    DBS Private Property Home Loan Interest Rates

    Interest Rate Package First-Year Interest Rate (p.a.) Second-Year Interest Rate (p.a.) Third-year Interest Rate (p.a.) Interest Rate from the fourth year onwards (p.a.)
    Fixed Rate Package 1.98% 1.98% 1.98% FHR8+1.48%
    Floating Rate Package FHR8+1.20% FHR8+1.20% FHR8+1.20% FHR8+1.20%
    Floating Rate Interest Package with a 2-year lock-in period FHR8+1.20% FHR8+1.20%% FHR8+1.20% FHR8+1.20%

    Note that under the floating rate package, the interest ceiling is 1.72% i.e. your interest rate cannot overshoot 1.72% for the first two years.

    DBS HDB Loan Interest Rates

    The DBS HDB Home Loan interest rates essentially come in two interest rate packages. The interest, similar to private property home loans, is capped at 1.72% for the first two years.

    The HDB Concessionary Loan rate is pegged at 2.6% – this is the existing CPF interest rate of 2.5% +0.1% (additional interest rate charged by DBS). Here is a detailed table of how the interest rates for an HDB Flat look:

    Interest Rate Package Interest Rate (p.a.)
    HDB Loan FHR8+1.20%
    HDB Concessionary Loan 2.6%

    In the case of the HDB Loan, DBS funds up to 80% of the value of the HDB flat. In the case of HDB Concessionary Loan, DBS funds up to 90% of the value of the flat.

    DBS Home Loan Fees and Charges

    Altering loan tenure S$250
    Administrative fee for third party insurance S$300
    Request for home loan statements Current year statement – S$20 Statement for the last two years – S$30 Statement requested for a period of more than 3 years prior – S$50

    Eligibility Criteria to Apply for the Loan

    The following eligibility parameters need to be met in order to qualify for a home loan with DBS:

    • The minimum age of the applicant should be 21 years.
    • The minimum monthly income should be S$1,500.

    Documents to be Submitted

    • Proof of income such as employment letter or letter of appointment, computerised salary slips, Income Tax Notice of Assessment for the last 2 years, CPF Contribution History for the past 12 to 24 months.
    • Proof of identity such as front and back copy of NRIC.  
    • Valuation of the new property intended to be purchased.
    • Contract of ownership  of the property and agreement indicating intention to sell the property (mortgage).
    • Marriage certificate, if needed.

    Repayment Modes

    You can make monthly repayments through internet banking or through the DBS mobile application. You can also make an agreement with the bank where in the money towards your home loan monthly repayment will be automatically deducted from your savings bank account.

    Refinancing your Private Property Home Loan

    DBS gives you the option of refinancing your private property home loan at interest rates similar to rates available on the fixed rate package and floating rate packages.


    1. What is the loan tenor for this loan?

      The loan tenure varies from one loan product to another. The loan tenure for DBS Commercial & Industrial Property Loan is up to 25 years.

    2. How much is the minimum DBS HDB loan amount I have to avail?

      Applicants would need to avail for a minimum DBS HDB loan amount of S$100,000.

    3. When can I apply for a DBS Refinancing Loan?

      If you have been paying a higher interest rate on your existing home loan from another bank as compared to the market-prevalent rate, you can apply for a refinancing loan at DBS once your lock-in period with the current bank is over.

    4. How can one apply for a DBS Personal Loan?
      1. Via the application form on DBS Website
      2. With the help of your personal assistant at DBS Home Connect
      3. Via an application submitted in any of the DBS branches
      4. With the help of our Home Advice Specialist via DBS website
    5. Will DBS fund more than 80% of the value of my HDB Flat if I wish to take a HDB Loan?

      A. No, the bank will fund a maximum of 80% of the value of your flat. In the case of a HDB Concessionary Loan, the bank will fund up to 90% of the value of your flat.

    6. Can I choose a rate package of my choice? Does the bank allow me to do that?

      A. Yes. You can choose an interest rate package of your choice. You can either choose a floating rate package or a fixed rate package. You can also change the package of your loan any time during your tenure.

    7. What is FHR9?

      FHR9 is the current DBS 9-month Fixed Deposit Interest Rate for deposit amounts between S$1,000 and S$9,999.

    8. How will my credit score influence my home loan application?

      A. You will need to have a clean credit history for a minimum period of 1 year if your application has to be accepted.

    9. Will I have to separately apply for insurance if I’m taking a home loan with DBS?

      A. Yes, you will have to apply for a life insurance policy or a term life policy separately. If you wish to apply for a home insurance, you’ll need to apply for that separately too.

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