Home Loan Calculator — Singapore
Estimate your monthly home-loan instalment in SGD for HDB or bank financing at current SORA-linked rates. See total interest over the term. No signup, no account needed.
Current rates (≈ 2026 — bank rates SORA-linked; verify with your lender)
| Lender / type | Typical rate | Notes |
|---|---|---|
| HDB concessionary loan | 2.6% | Fixed by HDB, for eligible flats |
| DBS | 3.0–3.5% | SORA-linked & fixed packages |
| UOB | 3.0–3.5% | Competitive fixed periods |
| OCBC | 3.0–3.5% | Eco/green home loans |
| Standard Chartered | 3.0–3.6% | SORA-pegged |
Major lenders
- HDB — concessionary loan at 2.6% for eligible HDB flat buyers
- DBS — largest bank; fixed and SORA-pegged packages
- UOB — competitive fixed-rate periods
- OCBC — green/eco home loan options
- Standard Chartered & Maybank — additional SORA-linked choices
The real cost — a worked example
Example: S$800,000 bank loan at 3.5% for 25 years
- Monthly payment: S$4,005
- Total paid over 25 years: S$1,201,497
- Total interest: S$401,497
- An HDB concessionary loan at 2.6% on the same amount costs noticeably less in total interest.
HDB loan vs bank loan, and TDSR
- HDB concessionary loan (2.6%) — only for eligible HDB flats; stable rate, higher LTV. Bank loans (≈3–3.5%) — for private property or by choice, SORA-linked or fixed.
- TDSR caps total monthly debt at 55% of gross income; MSR caps HDB/EC housing repayment at 30%. Both limit your maximum loan.
- Bank rates move with SORA after any fixed period — model a higher rate to stress-test affordability.
A real-data rate check: home loan rates in Singapore (2026)
Singapore home loans are mostly pegged to compounded SORA, not a fixed bank rate. MAS publishes 3-month compounded SORA each business day. UOB's own HDB home loan page lists a promotional package at 3M compounded SORA + 0.70% p.a. in Years 1-2, + 0.80% in Year 3 and + 1.00% from Year 4 (accessed 15 October 2026); OCBC's page lists its 3M compounded SORA package without a published spread. OCBC's official home loan page lists a 1-month compounded SORA package priced at SORA + 0.98% in Years 1 and 2, stepping up to SORA + 1.40% thereafter — add MAS's current 1M compounded SORA to get the all-in rate. Because most of a 20-30 year loan is spent at the "thereafter" rate, we use a more conservative 2.6% p.a. default.
A more realistic example: on a $500,000 loan over 25 years at 2.6% p.a., M = P·r·(1+r)^n / ((1+r)^n − 1) gives a monthly instalment of about $2,268, for total interest of roughly $180,500 over the full tenure.
Frequently Asked Questions
How is a home loan instalment calculated in Singapore?
Using the reducing-balance formula P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1). Bank loans are usually fixed for 1–3 years, then float with SORA; HDB loans use a fixed 2.6% concessionary rate.
What is the current home loan rate in Singapore?
HDB concessionary loans are fixed at 2.6%. Bank loans are roughly 3–3.5% in 2026, pegged to SORA after any fixed period. MAS manages policy via the exchange rate rather than a set interest rate.
What is TDSR and how does it limit my loan?
The Total Debt Servicing Ratio caps all your monthly debt repayments at 55% of gross income. For HDB flats and ECs, the Mortgage Servicing Ratio also caps housing repayment at 30% of income.
Should I take an HDB loan or a bank loan?
HDB's 2.6% is stable and allows higher LTV for eligible flats. Bank loans can start lower but float with SORA and have stricter LTV. Many buyers refinance from HDB to a bank loan later if rates fall.
Can I prepay or refinance my home loan?
Yes. Banks allow prepayment (watch for lock-in penalties during the fixed period) and many owners refinance every few years to chase lower SORA-linked rates.
Are Singapore home loan rates fixed for the whole loan tenure?
No. Most Singapore home loans are pegged to compounded SORA plus a bank spread, and the spread itself often steps up after an initial 1-2 year period (for example, OCBC's published package keeps SORA + 0.98% for Years 1 and 2, then moves to SORA + 1.40%). Fixed-rate packages exist too, but typically only lock in the rate for 2-3 years before reverting to a floating SORA-based rate.
What is compounded SORA and why does it matter for my instalment?
Compounded SORA is the official Singapore benchmark (published by MAS) that most floating-rate home loans are pegged to. Check MAS's website for the latest published value. Your actual home loan rate is this SORA value plus a bank-specific spread, so your instalment moves automatically whenever SORA moves.
Related calculators
Sources
UOB, HDB Home Loan SORA package rates (accessed 15 October 2026). Monetary Authority of Singapore, SORA Interest Rate Benchmark (accessed 15 October 2026). MAS, Domestic Interest Rates (compounded SORA) (accessed 15 October 2026). OCBC Singapore (accessed September 2026): official home loan page listing SORA package pricing. See our methodology and editorial policy for how we source and update this data.