CPF · HPS · HDB Mortgage Insurance · Singapore

CPF Home Protection Scheme (HPS) Premium Calculator Singapore 2026
Annual Premium, Total Cost & HPS vs Private Insurance Comparison

Calculate your CPF Home Protection Scheme (HPS) annual premium based on your HDB loan amount, age, gender, and tenure. Includes co-borrower support, year-by-year premium schedule, and estimated savings versus private MRT insurance. Premium paid from CPF OA — zero cash outlay.

✅ Male & Female Rates ✅ Joint Borrower Support ✅ Year-by-Year Schedule ✅ vs Private Insurance ✅ Free — No Login
HPS CoversDeath / TPD / Terminal IllnessFull outstanding loan paid off
Who Must Have HPSHDB + CPF OA UsersCompulsory unless exempted
Premium SourceCPF OA OnlyZero cash outlay
Coverage TypeReducing TermTracks outstanding loan
Administered ByCPF Boardcpf.gov.sg/hps
HPS Premium Inputs
Primary Borrower Gender

Female borrowers attract lower HPS premiums due to actuarial life expectancy difference.

years

HPS uses age at nearest birthday for the premium band. Applicants above 64 are not eligible.

S$

The total outstanding HDB concessionary loan or bank loan at time of HPS application. HPS insured sum = outstanding loan balance.

S$

Used to estimate how the remaining loan (and HPS premium) reduces year by year. Leave blank for a straight-line estimate.

⚠ You may apply for HPS exemption if your private policy (whole life, endowment, or MRTA) covers the full outstanding HDB loan. Submit the Exemption Application to CPF Board. This calculator still shows the HPS premium for reference.
years

Each co-borrower is insured for their proportional share (50/50 split by default). Each premium is deducted from their individual CPF OA.

HPS Premium Summary
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Enter your HDB loan amount, age, and gender to see your annual HPS premium, monthly equivalent, total cost over tenure, and estimated savings versus private mortgage insurance.

Annual HPS Premium vs Remaining Loan Balance

Understanding CPF Home Protection Scheme (HPS) — Who Needs It, What It Covers & How the Premium Works Singapore 2026

The Home Protection Scheme (HPS) is a compulsory mortgage-reducing insurance scheme administered by CPF Board. It protects Singapore Citizens and Permanent Residents who use their CPF OA savings to service an HDB home loan. If the insured member passes away, suffers Total Permanent Disability (TPD), or is diagnosed with a terminal illness before the home loan is fully paid, HPS pays off the outstanding loan in full — ensuring the family does not lose their home.

HPS is specifically designed for HDB flat owners. The premium is deducted automatically from your CPF OA annually — there is zero cash outlay. This makes HPS one of the most affordable and convenient forms of mortgage insurance in Singapore. Premiums are based on actuarial calculations taking into account your age, gender, and the outstanding loan balance, with rates reviewed periodically by CPF Board.

HPS Indicative Premium Rates — Age and Gender Bands for HDB Loan Protection 2026

Age BandMale Rate (per S$1,000/yr)Female Rate (per S$1,000/yr)Annual Premium on S$300K Loan (Male)Annual Premium on S$300K Loan (Female)
Below 25S$0.89S$0.60S$267S$180
25 – 29S$0.89S$0.60S$267S$180
30 – 34S$1.07S$0.69S$321S$207
35 – 39S$1.38S$0.88S$414S$264
40 – 44S$1.95S$1.24S$585S$372
45 – 49S$2.87S$1.81S$861S$543
50 – 54S$4.28S$2.68S$1,284S$804
55 – 59S$6.33S$3.96S$1,899S$1,188
60 – 64S$8.83S$5.65S$2,649S$1,695

Rates are indicative based on CPF Board’s published schedule. Actual premiums may vary — verify at cpf.gov.sg/hps. Premiums are deducted from CPF OA annually.

How HPS Premium Changes Over Time — Reducing Loan Balance vs Rising Age Rate

HPS is a reducing term insurance: the insured sum (outstanding loan) decreases each year as you repay the mortgage. However, as you age, the premium rate per S$1,000 increases. The net premium trend depends on which factor dominates: for younger buyers, the reducing loan typically wins and the annual premium slowly decreases. For buyers approaching 50–55, the rising age rate may cause the premium to increase even as the loan reduces.

How This HPS Premium Calculator Works — Annual Premium, Co-Borrower Split & Private Insurance Comparison

Step 1 — Select Gender and Enter Age for the Right Rate Band

HPS uses age at nearest birthday to determine the premium band. Males and females pay different rates — females typically pay 25–40% less because of actuarial life expectancy data. Enter your current age; the calculator automatically selects the correct rate band (e.g. age 33 → 30–34 band).

Step 2 — Enter Outstanding HDB Loan as the Insured Sum

For new applications, the insured sum equals the total outstanding HDB concessionary loan or bank loan at application date. Annual premium = (Loan Amount ÷ 1,000) × rate. The year-by-year schedule reduces the insured sum as the loan is paid down, using your monthly repayment figure for accuracy.

Step 3 — Add Co-Borrower for Joint HDB Purchases

For joint purchases (e.g. married couple), each co-borrower is insured separately for their proportional share of the loan. Each borrower’s HPS premium is deducted from their own CPF OA. If one co-owner has an existing private policy, they can apply for exemption for their share while the other remains covered by HPS.

3 Real Singapore HPS Premium Examples — Young BTO Couple, Mid-Age Upgrader & Senior Flat Buyer

Example 1: BTO Couple Age 29 & 27

HDB LoanS$380,000
Primary (M,29) PremiumS$169/yr
Co-Borrower (F,27) PremiumS$114/yr
Combined Annual PremiumS$283/yr
Monthly (from OA)~S$24/mo
vs Private MRT (est.)Save ~S$283/yr

Example 2: Upgrader Age 42 Solo

HDB LoanS$420,000
Rate (M, 40–44)S$1.95/K
Annual HPS PremiumS$819/yr
Monthly from OA~S$68/mo
25-yr total estimateS$12,000
vs Private (est.)Save S$12K+

Example 3: Senior Buyer Age 56, F

HDB LoanS$200,000
Rate (F, 55–59)S$3.96/K
Annual HPS PremiumS$792/yr
Monthly from OA~S$66/mo
Loan Tenure15 years
15-yr total estimateS$8,900

3 Expert Tips on HPS — Exemption Strategy, OA Impact & Review When Loan Reduces

1

Only Opt for HPS Exemption if Your Private Policy Provides Equal or Better Cover

Many HDB buyers with existing whole life or endowment policies assume they can easily exempt from HPS. However, the CPF Board’s exemption criteria are strict: your private policy must cover the same insured events (death, TPD, terminal illness), must insure you for the full outstanding loan amount, and must remain in force for the full remaining loan tenure. If your private policy lapses, is surrendered, or has a sum assured below the outstanding loan, you lose coverage without HPS as a backup. Given HPS’s extremely low premium (typically well under S$1,000/yr for moderate loans), most financial advisors recommend maintaining HPS even if you have supplementary private cover.

2

HPS Premiums Are Deducted from OA — Make Sure Your OA Has Enough Balance

The annual HPS premium is automatically deducted from your CPF OA every year. If your OA balance is insufficient (e.g. the flat is fully owned and the mortgage is serviced entirely in cash, leaving the OA empty), CPF Board will notify you and you must top up your OA or pay the premium in cash. For older borrowers in the 50–64 age band, premiums of S$1,000–S$2,600/year can put meaningful pressure on OA if not monitored. Check your projected OA balance annually to ensure HPS premiums can always be serviced without disruption to coverage.

3

Review and Reduce HPS Insured Sum When You Make Partial Loan Prepayments

If you make a lump sum prepayment on your HDB loan (e.g. using a windfall bonus or CPF OA surplus), your outstanding loan drops — but your HPS insured sum and premium only auto-adjusts at the annual renewal. You can actively notify CPF Board to reduce your HPS insured sum to match the new outstanding loan, lowering your premium immediately. Over a 25-year loan, strategically prepaying and reducing HPS coverage in parallel can save thousands in cumulative premiums while maintaining adequate protection at all times.

16 FAQs — CPF Home Protection Scheme HPS Premium, Coverage, Exemption & Claims Singapore 2026

What is the Home Protection Scheme (HPS) and is it compulsory?+
The Home Protection Scheme (HPS) is a mortgage-reducing term insurance administered by CPF Board. It is compulsory for Singapore Citizens and PRs who use their CPF OA savings to pay for an HDB flat mortgage — whether with an HDB concessionary loan or a bank loan. If you do not use CPF for mortgage repayments (i.e., fully cash-service your HDB loan), HPS is not compulsory but is still available. Members who already have adequate private insurance may apply for exemption.
What events does HPS cover — does it cover critical illness or job loss?+
HPS covers three specific events: Death, Total Permanent Disability (TPD), and Terminal Illness as certified by a registered medical practitioner. It does not cover critical illness (e.g. cancer, heart attack) unless the illness results in TPD or terminal illness. It does not cover temporary disability, retrenchment, or job loss. If your main concern is income protection during illness or retrenchment, supplementary insurance (disability income, critical illness, or a Dread Disease rider) is needed in addition to HPS.
How is the HPS premium paid and what happens if my OA has insufficient funds?+
HPS premium is deducted automatically from your CPF OA on the anniversary of your HPS policy each year. If your OA balance is insufficient, CPF Board will notify you — you can top up your OA or pay the outstanding premium in cash. If the premium is not paid within a certain period, HPS coverage lapses and your HDB flat will no longer be protected. Always ensure your OA maintains a balance sufficient to cover at least one year’s HPS premium.
How is HPS different from private Mortgage Reducing Term Assurance (MRTA)?+
Both cover the outstanding mortgage upon death or TPD, but they differ significantly in cost and administration. HPS is administered by CPF Board, premiums come from OA (no cash), rates are government-regulated and typically lower, and it automatically adjusts to your outstanding loan. Private MRTA is purchased from insurers, paid in cash or lump sum, and may cover additional events (e.g. critical illness). For most HDB owners, HPS provides cost-effective and sufficient protection. Private MRTA may be preferred for private property owners (who cannot use HPS) or those seeking additional coverage types.
Can I get HPS if I am buying a private condo or Executive Condominium?+
No. HPS is only available for HDB flat purchases. Private condominiums, landed properties, and Executive Condominiums (even during the initial 5-year period when ECs are subject to HDB rules) are not eligible for HPS. Owners of private property who want mortgage insurance must purchase private MRTA from a licensed insurer. The Integrated Shield Plan and separate disability income policies should also be considered for comprehensive protection.
What happens to my HPS when I sell my HDB flat?+
When you sell your HDB flat, your HPS policy is automatically terminated. There is no cash refund or surrender value for HPS — it is pure term insurance with no savings component. When you purchase a new HDB flat and take an HDB or bank loan, you must apply for fresh HPS coverage for the new property. The new premium will reflect your age at the time of the new application, which may be significantly higher if you are older than when you first took out HPS.
How does HPS work for joint borrowers — does each person need separate coverage?+
Yes. For joint HDB purchases, each co-borrower must be separately insured under HPS. Each person’s insured sum is their proportional share of the outstanding loan (typically 50/50 for a couple, but it can be in different proportions based on ownership share). Each co-borrower’s annual premium is deducted from their own CPF OA. If one co-borrower passes away or becomes TPD, HPS pays off their insured share — the remaining co-borrower’s share is not affected and remains outstanding.
Can I apply for HPS exemption and what are the conditions?+
Yes. You can apply to CPF Board to be exempted from HPS if you have an existing private insurance policy that provides equivalent coverage. The exemption conditions are: (1) the policy must cover death, TPD, and terminal illness; (2) the sum assured must equal or exceed the outstanding HDB loan; (3) the policy must remain in force for the full loan tenure; and (4) the policy cannot be a group insurance plan. To apply, submit the HPS Exemption Application form with supporting documentation to CPF Board. Exemptions are reviewed when you renew your loan or change your outstanding balance.
What is the maximum age for HPS coverage?+
HPS covers insured members until age 65 or until the loan is fully paid off, whichever is earlier. New applicants must be below age 65 at the time of application. For borrowers approaching 65 with outstanding loan balances, the HPS coverage terminates at 65 — if any loan remains, they must arrange alternative insurance or service the remaining loan without HPS protection. This makes early loan repayment or a shorter loan tenure advisable for older HDB buyers to ensure they are covered for the full repayment period.
Does the HPS premium increase every year as I get older?+
The rate per S$1,000 of insured sum steps up as you move into higher age bands (e.g. the rate for 40–44 is higher than for 35–39). However, the actual annual premium in S$ depends on both the rate and the outstanding loan. Because the loan reduces each year, the effective premium may stay relatively stable or even decline for younger buyers despite aging. For borrowers in the 50–64 range, the rate increase typically dominates and annual premiums rise in absolute terms despite the reducing loan. The year-by-year chart in this calculator shows this trajectory for your specific inputs.
Does HPS cover the full outstanding loan or only a portion?+
HPS covers the full outstanding loan balance at the time of the insured event — as long as the total does not exceed the insured sum (which is capped at the outstanding loan when HPS was applied for, declining over time with the loan). CPF Board pays the lender (HDB or bank) directly, extinguishing the remaining mortgage. There is no partial payout — the full outstanding balance is settled in a single lump sum. If the insured sum has been reduced to account for previous repayments, only the insured amount is paid.
What happens to the family if the HPS claim is made — is the flat theirs?+
When HPS pays off the outstanding loan, the flat becomes fully paid and unencumbered. The surviving family members retain full ownership of the HDB flat without any mortgage obligation. This is the core purpose of HPS — to prevent families from losing their home following a breadwinner’s death or disability. The flat can then be occupied, rented out (subject to HDB rules after MOP), or sold, with the full proceeds going to the family. No CPF refund is triggered by the HPS payout itself.
Can I pay for HPS with cash instead of CPF OA?+
Normally, HPS premiums are deducted from CPF OA automatically. However, if your OA balance is insufficient to cover the premium, CPF Board will notify you and you can pay in cash for that year. This is not the typical arrangement — HPS is designed to be OA-funded. If you anticipate your OA will be insufficient (e.g. you are not working and contributing to CPF), proactively top up your OA via voluntary cash contribution or RSTU to ensure continuous HPS coverage without interruption.
Is HPS available for HDB flats bought under the Deferred Payment Scheme?+
HPS coverage begins when you start using CPF OA for mortgage repayments. For BTOs and new flats under progressive payment schemes, HPS kicks in once CPF is first used for the mortgage — this may be at the time of key collection or earlier in the progressive payment stages, depending on when OA deductions commence. Check with HDB or CPF Board for the exact application timing for your specific flat type. HPS is not applicable during the period before CPF OA usage begins.
Is HPS affected by the Home Protection Scheme Act changes in 2026?+
The HPS is governed by the Home Protection Insurance Act and is periodically reviewed by CPF Board. Any changes to premium rates, coverage terms, or exemption conditions are communicated to policyholders via CPF Board announcements and the CPF annual statement. For the latest 2026 premium rates and any regulatory changes, verify directly at cpf.gov.sg/hps. This calculator uses indicative rates based on the most recently published schedule — always confirm with CPF Board before making insurance decisions.
Where can I apply for HPS or get the exact premium for my loan?+
HPS application is automatic for eligible HDB flat buyers using CPF OA — you do not need to separately apply in most cases. CPF Board will enroll you and deduct the first premium. For exact premium calculations, use CPF Board’s official HPS Premium Calculator at cpf.gov.sg. To check your current HPS coverage, log in to Singpass → MyCPF → Home. To apply for exemption or adjust coverage, submit the relevant forms through CPF Board’s eFiling system.

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Legal Disclaimer & Editorial Transparency. The HPS Premium Calculator on SGFinanceCalculators.com uses indicative premium rates based on CPF Board’s published HPS rate schedule. Rates are expressed per S$1,000 of insured sum per year, banded by age and gender. Actual premiums deducted from your CPF OA may differ due to rounding, exact loan balance at renewal date, and any CPF Board rate adjustments. The private MRT comparison is a rough estimate only (2× multiplier) — actual private insurance premiums vary significantly by insurer, health status, and policy terms. The year-by-year premium schedule uses simplified linear loan reduction and may not match your exact amortization. HPS maximum coverage age is 65; coverage terms are subject to the Home Protection Insurance Act. Always verify your exact HPS premium and coverage via Singpass → MyCPF → Home or at cpf.gov.sg/hps. Not financial or insurance advice. Operated by MAFHH INTERNATIONAL LTD.