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 or the Housing and Development Board home loans are available for those looking to buy an HDB flat in Singapore. There are two financing options to choose from when looking for a home loan for purchasing an HDB flat – HDB Concessionary Loan (housing loan from HDB) and HDB home loans offered by banks in Singapore.
There are many banks in Singapore that offer HDB home loans to customers. Here are some common features offered by most banks:
Popular Banks in Singapore that offer HDB Home Loans include the following:
|Loan features||HDB Concessionary Loan||HDB Bank Loan|
|Quantum of Financing||Up to 90% of the purchase price or market value.||Up to 80% of the purchase price or market value.|
|Loan tenure||Up to 25 years of 65 years of age.||Up to 30 years of 70 years of age.|
|Down payment||10% of the purchase price or market value using CPF OA savings or cash.||20% of the purchase price or market value using CPF OA savings with a minimum 5% to be paid in cash.|
|Interest rate||0.1% about CPF OA interest rate. Currently the interest rate is 2.6% p.a.||Choices of fixed rates, variable rates and SIBOR rates are available.|
Here are some documents that you should keep handy when applying for an HDB Home Loan:
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