🏠 Property · Mortgage & Affordability · Sub-Silo 2 · Tool #1

Mortgage Repayment Calculator Singapore 2026
Monthly Home Loan Instalment, Total Interest & Full Amortization Schedule

Calculate your monthly mortgage instalment for any Singapore home loan — HDB concessionary loan or bank loan — with the full principal-versus-interest amortization breakdown, total interest over the loan tenure, and the impact of extra monthly repayments. Includes age-based loan tenure guidance (the age-65 and age-75 limits), HDB-vs-bank rate context, and a year-by-year repayment chart so you can see exactly how your outstanding balance falls over time.

✓ Monthly Instalment (Amortising) ✓ Full Amortization Schedule ✓ Total Interest Over Tenure ✓ Extra Payment Impact ✓ Age-65/75 Tenure Guidance
HDB Loan Rate2.6% p.a.
Bank Loan (SORA)~2.5%–3.5%
Max HDB Tenure25 yrs
Max Bank Tenure30 yrs
Age Limit65 / 75 LTV
🏘 Home Loan Inputs
Property & Loan

HDB concessionary loans are pegged at 0.1% above the CPF Ordinary Account rate (currently 2.6% p.a.) and apply only to HDB flats for eligible buyers. Bank loans are typically pegged to the 3-month compounded SORA plus a bank spread, or offered as fixed-rate packages for the first 2–3 years.

S$
%
%

For HDB flats: minimum 25% down payment (HDB loan) or 25% (bank loan, with at least 5% cash). For private property bank loans: minimum 25% down payment (5% cash + 20% cash/CPF) at 75% LTV for the first loan. Enter the loan’s effective annual interest rate.

Tenure & Borrower Age
years
yrs

Loan tenure rules: HDB loans max 25 years; bank loans for HDB max 25 years; bank loans for private property max 30 years. If the loan extends beyond age 65 (HDB) or results in the loan running past age 65 (bank), the maximum Loan-to-Value (LTV) drops to 55%, requiring a larger down payment. Your age plus tenure should not exceed 65 for the full LTV.

Optional — Extra Repayment
S$ / month

Enter an extra amount you could pay each month on top of the required instalment. The calculator shows how much time and interest you would save. Note: bank loans often have prepayment penalties (typically 1.5% of the prepaid amount) during the lock-in period — check your loan terms.

🏘 Repayment Breakdown
🏘

Enter your property price, down payment, interest rate, and loan tenure to see your monthly instalment, total interest over the loan, and the year-by-year principal-versus-interest amortization breakdown.

Yearly Principal vs Interest (teal = principal, red = interest)

Mortgage Repayment in Singapore 2026 — HDB Concessionary Loan vs Bank Loan, SORA Pegging & Monthly Instalment Maths

Your monthly mortgage instalment is the single biggest recurring cost of home ownership in Singapore. Whether you take an HDB concessionary loan (pegged at 2.6% p.a.) or a bank loan (typically pegged to the 3-month compounded SORA plus a spread, or a fixed-rate package), the monthly instalment is calculated using the standard amortising loan formula. Each monthly payment is split between interest (charged on the outstanding balance) and principal (which reduces the balance). In the early years, most of your payment goes to interest; in the later years, most goes to principal. This calculator shows you the exact split year by year, the total interest you will pay over the full tenure, and how extra repayments can shorten your loan and save interest.

HDB Loan vs Bank Loan: Key Differences for 2026

FeatureHDB Concessionary LoanBank Loan
Interest Rate2.6% p.a. (0.1% above CPF OA)~2.5%–3.5% (SORA + spread, or fixed)
Rate StabilityVery stable (pegged to CPF OA)Varies with SORA / package
Max LTV75% (or up to 80% historically)75% (first loan)
Max Tenure25 years30 years (private), 25 years (HDB)
Down Payment25% (can be fully CPF)25% (min 5% cash)
EligibilityHDB flats, income ceiling appliesAny property, subject to TDSR/MSR
Prepayment PenaltyNone~1.5% during lock-in (typically)

The Monthly Instalment Formula

The monthly instalment (M) is calculated using the standard amortising loan formula: M = P × [r(1+r)^n] ÷ [(1+r)^n − 1], where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12), and n is the total number of monthly payments (tenure in years × 12). For a S$450,000 loan at 2.6% over 25 years: M = approximately S$2,042 per month. Over 25 years, total interest paid would be approximately S$162,600 — about 36% of the loan amount.

How This Mortgage Repayment Calculator Works — Instalment, Amortization & Extra Payments

Step 1 — Enter Loan Details and Choose Loan Type

Select HDB or bank loan, enter the property price and down payment percentage. The calculator computes the loan amount (price minus down payment). Enter the interest rate — 2.6% for HDB, or your bank’s package rate. Choose the tenure (up to 25 years for HDB, 30 for private bank loans).

Step 2 — Review Instalment and Total Interest

The calculator instantly shows your monthly instalment, the total interest over the full tenure, the total amount repaid, and interest as a percentage of the loan. The year-by-year chart visualises how each year’s payment splits between principal and interest — you will see the principal portion grow and the interest portion shrink as the loan progresses.

Step 3 — Model Extra Repayments and Check Tenure Limits

Enter an optional extra monthly payment to see how much faster you would clear the loan and how much interest you would save. The calculator also flags age-based tenure considerations: if your age plus tenure exceeds 65, the maximum LTV drops to 55%, requiring a larger down payment.

3 Real Singapore Mortgage Examples — HDB BTO, Resale Condo & Private Property with Extra Payments

HDB 4-Room BTO, S$450K

PriceS$450,000
Loan (75%)S$337,500
Rate / tenure2.6% / 25yr
MonthlyS$1,531
Total interestS$121,900
Total repaidS$459,400

Resale Condo, S$1.2M Bank Loan

PriceS$1,200,000
Loan (75%)S$900,000
Rate / tenure3.2% / 30yr
MonthlyS$3,892
Total interestS$501,000
Total repaidS$1,401,000

Condo + S$1,000/mo Extra

LoanS$900,000
Base monthlyS$3,892
With extraS$4,892
New payoff~24 yrs
Time saved~6 yrs
Interest saved~S$112,000

3 Expert Mortgage Repayment Tips — SORA Awareness, the Tenure Trade-Off & CPF vs Cash

1

Understand SORA: Singapore’s Benchmark Rate Replaced SIBOR

Since 2024, SIBOR (Singapore Interbank Offered Rate) has been fully phased out and replaced by SORA (Singapore Overnight Rate Average) as the benchmark for floating-rate home loans. Most bank loan packages are now structured as “3-month compounded SORA + bank spread” (e.g., 3M SORA + 0.75%). SORA is a backward-looking, transaction-based rate, making it more stable and transparent than the old forward-looking SIBOR. When comparing bank loan packages, look at the total rate (SORA + spread), the spread step-up after the initial period, the lock-in period, and the prepayment penalty. Fixed-rate packages lock your rate for 2–3 years (giving certainty) but typically start higher than floating SORA packages. For a borrower who values predictability, a fixed package may be worth the slight premium; for one comfortable with rate movements, a SORA package may be cheaper over the full tenure. Use this calculator with different rate scenarios to stress-test your instalment against potential SORA increases.

2

The Tenure Trade-Off: Lower Monthly vs More Total Interest

A longer loan tenure reduces your monthly instalment but dramatically increases the total interest you pay. Example on a S$900,000 loan at 3.2%: over 25 years the monthly is about S$4,360 with total interest of about S$408,000; over 30 years the monthly drops to about S$3,892 (S$468/month lower) but total interest rises to about S$501,000 — an extra S$93,000 in interest for the longer tenure. The longer tenure also pushes more borrowers past the age-65 threshold, triggering the lower 55% LTV cap. The trade-off: a longer tenure improves monthly cash flow and TDSR/MSR headroom (helping you qualify), but costs significantly more over the life of the loan. Many financially disciplined Singapore borrowers take a longer tenure for the qualification flexibility and lower required payment, then voluntarily overpay when they have spare cash — getting the best of both worlds (low required payment + ability to clear faster). Just watch for prepayment penalties during the lock-in.

3

CPF vs Cash for Mortgage: Mind the Accrued Interest

Singapore borrowers can service their home loan using CPF Ordinary Account (OA) savings, cash, or a combination. Using CPF preserves cash for other needs, but there is a hidden cost: accrued interest. Every dollar of CPF OA used for your property must eventually be returned to your CPF account — with the 2.5% accrued interest it would have earned — when you sell the property. This “accrued interest” can grow to a substantial sum over decades and reduces the cash proceeds you receive on sale. Paying your mortgage in cash (instead of CPF) avoids building up accrued interest and keeps your CPF compounding at 2.5% — effectively a guaranteed return. For borrowers with a bank loan rate higher than 2.5% (e.g., 3.2%), using cash to pay the mortgage and leaving CPF to compound is often financially neutral to favourable; for those with an HDB loan at 2.6%, the difference is marginal. Use our Accrued Interest Calculator to see the long-term CPF impact before deciding your cash-vs-CPF mortgage strategy.

16 FAQs — Mortgage Repayment Singapore 2026, HDB & Bank Loans, SORA, Tenure & Prepayment

How is my monthly mortgage instalment calculated in Singapore?+
The monthly instalment uses the standard amortising loan formula: M = P × [r(1+r)^n] ÷ [(1+r)^n − 1], where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12), and n is the number of months (years × 12). Each payment covers the interest on the current outstanding balance plus a portion of principal. Early in the loan, most of the payment is interest; later, most is principal. For a S$500,000 loan at 2.6% over 25 years, the monthly instalment is approximately S$2,269. This calculator does the full computation including the year-by-year split.
What is the HDB concessionary loan interest rate in 2026?+
The HDB concessionary loan rate is pegged at 0.1% above the CPF Ordinary Account (OA) interest rate. With the CPF OA rate at 2.5%, the HDB loan rate is 2.6% per annum. This rate has been stable at 2.6% for many years because the CPF OA floor rate is legislatively set at 2.5%. The HDB concessionary loan is available only to eligible buyers purchasing HDB flats, subject to income ceilings and other eligibility criteria. Its key advantages: rate stability, no prepayment penalty, and the down payment can be fully paid using CPF. The rate is reviewed quarterly in line with the CPF OA rate.
What is SORA and how does it affect my home loan?+
SORA (Singapore Overnight Rate Average) is the benchmark interest rate that replaced SIBOR for Singapore home loans (SIBOR was fully discontinued in 2024). Most floating-rate bank loan packages are now priced as “3-month compounded SORA + bank spread” — for example, 3M SORA + 0.75%. SORA is a backward-looking rate based on actual overnight borrowing transactions, making it more stable and harder to manipulate than the old SIBOR. When SORA rises (e.g., when the US Fed raises rates and global rates climb), your floating-rate instalment rises; when SORA falls, your instalment falls. To protect against rate increases, some borrowers choose fixed-rate packages (locked for 2–3 years) instead of SORA-pegged floating packages.
What is the maximum home loan tenure in Singapore?+
Maximum loan tenure depends on the property and loan type: HDB flats: 25 years (HDB concessionary loan) or 25 years (bank loan for HDB); Private residential property: 30 years (bank loan). However, there is an age overlay: if the loan tenure extends beyond the borrower being age 65, the maximum LTV drops from 75% to 55% — meaning a much larger down payment. So while the absolute maximum is 25/30 years, the effective maximum for full LTV is constrained by your age: your age plus the tenure should not exceed 65 to keep the 75% LTV. For example, a 45-year-old keeping full LTV would take a maximum 20-year tenure (45 + 20 = 65).
How does my age affect my maximum loan and LTV?+
MAS rules link loan tenure, borrower age, and LTV. For the maximum 75% LTV (first loan), the loan tenure must not extend beyond the borrower being age 65 for HDB or result in the loan period running past age 65 for private property. If the tenure extends beyond age 65 (or beyond 30 years for private / 25 years for HDB), the maximum LTV drops to 55%, requiring a 45% down payment. For older borrowers, this significantly increases the cash/CPF needed. Example: a 50-year-old wanting a 30-year private property loan (ending at age 80, well past 65) would be capped at 55% LTV. To get 75% LTV, they would need a 15-year tenure (ending at 65) — which raises the monthly instalment. This is why younger buyers can access longer tenures and lower monthly payments.
Should I choose a fixed-rate or floating (SORA) home loan?+
It depends on your risk tolerance and rate outlook. Fixed-rate packages lock your interest rate for the first 2–3 years, giving certainty in your monthly instalment regardless of SORA movements — ideal if you value predictability or expect rates to rise. They typically start slightly higher than floating packages. Floating (SORA) packages move with the 3-month compounded SORA — your instalment falls when SORA falls but rises when SORA rises. They often start lower and can be cheaper over the full tenure if rates stay low or fall. Many Singapore borrowers take a fixed package for the initial certainty, then refinance to a floating or new fixed package when the lock-in ends. Use this calculator to stress-test your instalment at different rates (e.g., 2.5%, 3.5%, 4.5%) to see how much your payment could vary on a floating package.
Can I pay off my mortgage early in Singapore?+
Yes. You can make partial prepayments (lump sums reducing the principal) or full early redemption. The key consideration is the prepayment penalty: bank loans typically charge about 1.5% of the prepaid amount during the lock-in period (usually the first 2–3 years). After the lock-in, most banks allow penalty-free prepayment. HDB concessionary loans have no prepayment penalty at any time. Prepaying reduces both your outstanding balance and the total interest you pay over the loan. Use the “extra monthly payment” field in this calculator to see how much time and interest you save. A common strategy: wait until the lock-in expires, then make lump-sum prepayments or increase monthly payments to clear the loan faster and save interest.
Why is most of my early payment going to interest?+
This is how amortising loans work. Interest each month is charged on the outstanding balance, which is highest at the start of the loan. So in the early years, a large share of your fixed monthly instalment goes to interest, and only a small portion reduces the principal. As the balance falls over time, the interest portion shrinks and the principal portion grows — even though your total monthly payment stays the same. For example, on a S$500,000 loan at 2.6% over 25 years, in Year 1 about S$12,800 of your payments goes to interest and S$14,400 to principal; by Year 20, about S$3,500 goes to interest and S$23,700 to principal. The year-by-year chart in this calculator shows this shift clearly — the teal (principal) bars grow while the red (interest) bars shrink each year.
Can I use CPF to pay my monthly mortgage instalment?+
Yes. You can use your CPF Ordinary Account (OA) savings to pay your monthly home loan instalment for both HDB and private residential property (subject to withdrawal limits for private property and bank loans). Using CPF preserves your cash but creates accrued interest — the 2.5% interest the CPF funds would have earned must be repaid to your CPF account when you sell the property. This reduces your cash sale proceeds. For an HDB loan at 2.6%, paying via CPF is common and convenient. For bank loans, there are CPF usage limits (Valuation Limit and Withdrawal Limit) on how much OA you can use. Some financially savvy borrowers pay in cash to avoid building up accrued interest and to keep their CPF compounding — especially if their loan rate is below or near the 2.5% CPF rate.
What is the difference between flat rate and effective interest rate?+
Home loans in Singapore use the effective (reducing balance) interest rate — interest is charged only on the outstanding balance, which falls each month as you repay principal. This is the standard and fair method for mortgages. A flat rate (used in some car and renovation loans) charges interest on the original loan amount for the entire tenure, regardless of how much you have repaid — making the true cost roughly double the quoted flat rate. Mortgages do not use flat rates. When comparing home loan packages, the quoted rate (e.g., 2.6% or 3M SORA + 0.75%) is always the effective annual rate applied to the reducing balance. This calculator uses the correct effective-rate amortisation method.
How much down payment do I need for a home loan in Singapore?+
For the first home loan at 75% LTV: minimum 25% down payment. The composition differs by loan type: Bank loan: at least 5% in cash, with the remaining 20% from cash or CPF OA. HDB concessionary loan: the full 25% can be paid using CPF OA (no cash component required). For a second home loan (if you have an existing home loan), the LTV drops to 45% (55% down payment); for a third loan, 35% LTV (65% down payment). If the loan extends past age 65 or beyond the maximum tenure, LTV also drops to 55% (45% down). On a S$600,000 property at 75% LTV, the 25% down payment is S$150,000. Always confirm your specific LTV with the bank or HDB, as it depends on your existing loans, age, and tenure.
Does the calculator account for TDSR and MSR limits?+
This mortgage repayment calculator computes your instalment, total interest, and amortisation — it does not check affordability limits. To check whether you qualify for the loan, use our dedicated TDSR Calculator (Total Debt Servicing Ratio — your total monthly debt obligations must not exceed 55% of gross monthly income) and MSR Calculator (Mortgage Servicing Ratio — for HDB and Executive Condominiums, the mortgage instalment alone must not exceed 30% of gross monthly income). A loan that looks affordable in monthly terms may still be rejected if it breaches TDSR or MSR. We recommend running your figures through all three calculators: this one for the instalment, TDSR for total debt headroom, and MSR for HDB/EC eligibility.
What happens to my instalment when the bank loan lock-in period ends?+
Most bank loan packages have a 2–3 year lock-in with an attractive initial rate (fixed or low SORA spread). When the lock-in ends, the rate typically steps up to a higher “thereafter” rate (e.g., 3M SORA + 1.0% instead of + 0.75%, or the fixed rate reverts to floating). This increases your monthly instalment. At this point, most borrowers refinance — switching to a new package (with the same or a different bank) at a more competitive rate, resetting a new lock-in. Refinancing can save significant interest but involves legal and valuation fees (often S$2,000–S$3,000, sometimes subsidised by the new bank). Use our Mortgage Refinancing Savings Calculator to compare your current package against a new one and decide whether refinancing is worthwhile. Set a reminder before your lock-in ends so you do not get stuck on the higher thereafter rate.
Is the HDB loan or a bank loan cheaper overall?+
It depends on prevailing bank rates. The HDB concessionary loan at 2.6% is stable and predictable. Bank loans can be cheaper when SORA is low (e.g., a package at 2.3%–2.5% would beat HDB’s 2.6%) but more expensive when SORA is high (e.g., 3.5%–4% during rate-hike cycles). The HDB loan also allows a smaller cash outlay (full down payment can be CPF) and has no prepayment penalty. Bank loans offer potentially lower rates and the flexibility to refinance, but carry rate risk and prepayment penalties during lock-in. Many HDB buyers start with the HDB loan for stability and switch to a bank loan later if bank rates fall attractively (note: you can switch from HDB loan to bank loan, but not back from bank loan to HDB loan). Use this calculator to compare the total interest under both rate scenarios for your specific loan amount and tenure.
How much interest will I pay in total over a 25-year loan?+
Total interest depends on the loan amount and rate. As a rough guide at common rates over 25 years: at 2.6%, total interest is about 36% of the loan amount (a S$400,000 loan costs about S$144,000 in interest); at 3.5%, about 50% (a S$400,000 loan costs about S$200,000); at 4.5%, about 66% (about S$264,000). The longer the tenure and the higher the rate, the more total interest you pay. This is why even a small rate difference (e.g., 2.6% vs 3.2%) translates into tens of thousands of dollars over the loan life, and why refinancing to a lower rate and making prepayments can save substantial sums. This calculator shows your exact total interest and the interest-as-percentage-of-loan figure for your specific inputs.
Can I change my loan tenure after taking the loan?+
Yes, but with conditions. You can shorten your tenure (which increases the monthly instalment but reduces total interest) relatively easily, often when refinancing. Extending the tenure (to reduce the monthly instalment) is harder — it is subject to the maximum tenure rules (25/30 years), the age-65 LTV overlay, and the total tenure including the original loan period. When you refinance, the new loan’s tenure cannot exceed the remaining maximum allowable tenure based on your current age and the original loan’s start. For example, if you are now 50 and your property has 20 years left on a 25-year loan, you generally cannot extend back to a fresh 30 years. Tenure changes are most flexible at refinancing points. Speak to a mortgage broker about your specific situation and the impact on LTV.

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Legal Disclaimer & Editorial Transparency. Monthly instalment calculated using the standard amortising loan formula M = P×[r(1+r)^n]÷[(1+r)^n−1] on a reducing balance (effective interest) basis. HDB concessionary loan rate 2.6% p.a. (0.1% above the 2.5% CPF OA rate) as at 2026, reviewed quarterly. Bank loan rates vary with 3-month compounded SORA plus bank spread or fixed-rate packages. Maximum tenure: 25 years (HDB), 30 years (private bank loan). LTV drops to 55% if the loan extends past age 65 or beyond maximum tenure. This tool computes instalment and interest only and does not assess TDSR (55%) or MSR (30%) affordability limits — use the dedicated calculators. CPF used for mortgage accrues 2.5% interest repayable on sale. Bank loans may carry prepayment penalties (~1.5%) during lock-in. All figures indicative — confirm actual rates and terms with your bank or HDB. Verify HDB loan details at hdb.gov.sg and financing rules at mas.gov.sg. Not financial advice. Operated by MAFHH INTERNATIONAL LTD.