The Housing & Development Board (HBD) is the public housing authority in Singapore that develops housing towns to provide quality living environments and homes. HDB is a statutory board under the Ministry of National Development. Its purpose is to build communities that maintain harmony amongst different races and families and individuals. It aims at making cohesive communities while also keeping up with changing circumstances.
Atleast 25 years
Less than 65 Years
Salaried / Self-employed
with regular income
Earn more than the minimum
Minimum income required S$12,000
Depend on the buyers’ age and monthly income
EMIs of other loans lower your eligibility
Make your spouse a co-applicant, and her income will add to your eligibility
Choose longer tenure loan up to 25 years
Make sure at least one of the parents must be a Singapore Citizen or Singapore Permanent Resident
|Min Loan Amount||S$10,000|
|Max Loan Tenure||25 to 30 years|
|nterest Rates||Revised from time to time|
|Monthly EMI||Capped at 30% of the gross monthly income|
HDB provides home loans to help people procure houses of their own with lesser burden. It is also oriented towards the elderly and those who may be facing financial difficulties. Those looking for a housing loan can secure one at concessionary rates of interest if you are eligible. You need to satisfy HDB’s credit assessment and the mortgage loan criteria. You also need to acquire a HLE which is a HDB Loan Eligibility Letter before you commit to purchase of transfer of a flat. You can use e-Service to apply for this letter. The letter will provide information on your eligibility, the loan quantum and the monthly instalments. This is necessary to ensure you can pay the loan back and manage other expenses without too much financial strains.
HDB aims at constantly providing cost effectiveness and maintain standards of quality through research and development. HDB ensures their towns are recreational and commercial with all social facilities and amenities. The interest rates are lower than usual home loans and you can use your CPF savings and/or cash to repay the loan in monthly instalments. HDB is committed to help you plan your finances so that you do not have to experience any unbearable financial burdens while you strive to acquire your own flat.
To be eligible for a HDB home loan, you need to meet the criteria below:
Additional documents required from Commission-Based and Regular Part Time Worker, Unemployed applicants between 18 to 62 years old, Odd Job workers, and Pensioners, can be found on the HDB official website.
The interest rates are revised quarterly in January, April, July and October every year. This is done in line with the CPF interest rate revisions. The concessionary rate of interest is 0.1% point above CPF Ordinary Account Interest Rate. It is computed on a monthly rest basis. It may also be computed on any other basis as HDB may decide.
Yes, once you know you’re eligible, you can use the online services in Sales Financial Plan and Resale Financial Plan available on the official HDB planning. You can find these options under “financial tools”.
Yes, you can as long as you fulfil the eligibility conditions. In addition, you need to submit additional income proof such as employment pass, work permit, evidence of trade business, overseas income tax returns, where applicable
The accepted languages are English, Mandarin, Malay or Tamil. If the documents to be submitted are in languages other than those mentioned, an official translation in English of these documents is required.
You will have to take a loan from a bank/financial institution that is licensed by the Monetary Authority of Singapore to provide housing loans. You can consult any bank and based on your current income, they will help you determine the amount of loan which you can get.
A list of all the authorized banks can be found in the Monetary Authority of Singapore (MAS) website.
Around 860,000 HDB households of Singapore can soon enjoy the GST Voucher – Utilities-Save (U-Save) rebate this month. Every household will receive different amounts of up to S$65 according to the category of their HDB flat.
The GST Voucher is one of the 3 parts of the permanent GST Voucher scheme. The U-rebate will reduce the general household expenses. It will also help residents balance their utility bills smoothly.
With the GST voucher, a resident of an HDB flats with 1 or 2 rooms can reduce their utility bills of 3 to 4 months. An individual living in an HDB flat with 3 or 4 rooms can minimise bills of 1 to 2 months with the voucher.
This rebate voucher cannot be used by individuals who own more than one house. The voucher is offered every January, April, July and October.
03rd January 2017
The resale prices and the overall volume of transactions of the flats developed by the Housing Development Board (HDB) has dropped in 2016. According to property experts, this dip in prices is most likely seasonal and the prices of HDB flats and their demand will increase in due course of time. The overall prices of mature as well as non-mature estates fell by 0.5 percent in January, 2016 from December, 2015 as per the data released by SRX Property recently. This can be the ideal time for people to apply for an HDB home loan and purchase an HDB flat of their choice.
05th February 2016