Mortgage Repayment Calculator Singapore 2026
Calculate your monthly HDB or bank loan repayment, total interest payable, and full cost of your home loan — free, instant results in SGD.
🏠 Mortgage Repayment Calculator
Results are estimates only. Actual repayments may vary by lender. Not financial advice.
Understanding Mortgage Repayments for Singapore Homebuyers
Buying a home in Singapore is one of the biggest financial decisions you will ever make. Whether you are taking an HDB concessionary loan at 2.6% per annum or a bank loan at a floating or fixed rate, understanding exactly how much you will repay each month — and how much of that goes to interest versus principal — is essential for responsible financial planning. As at Q2 2026, MAS data shows Singapore’s total outstanding housing loans stand at over S$220 billion, reflecting the central role of mortgages in Singaporean household finance. This calculator uses the standard annuity formula to give you an instant, accurate picture of your repayment obligations. Not financial advice. All figures are for educational reference only. Data as at Q2 2026 unless noted.
How the Monthly Repayment Formula Works
Your monthly repayment is calculated using the standard amortisation 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). This ensures each payment covers exactly the accrued interest for that month, with the remainder reducing your outstanding principal. Early in the loan, the bulk of each payment goes to interest — this is why the total interest payable on a 25-year loan can easily exceed a third of the original loan amount.
HDB Loan vs Bank Loan Interest Rates in 2026
The HDB concessionary loan rate is pegged at 0.1% above the CPF OA interest rate, currently sitting at 2.6% per annum — a fixed, stable rate that has held steady for several years. Bank loans in 2026 typically range between 3.0%–4.5% for fixed-rate packages (1–5 year lock-ins) and can float higher on SORA-linked packages depending on prevailing rates. The rate differential compounds significantly over a 25-year tenure: on a S$450,000 loan, a 1% difference in interest rate translates to roughly S$64,000 in additional total interest paid.
How to Use This Mortgage Repayment Calculator
- Enter your loan amount: Type or slide to your expected loan amount in SGD. For HDB flats, this is typically the purchase price minus your down payment (at least 10% cash + CPF for bank loans, or 10% CPF for HDB loans). Bank loans require at least 25% down payment if you have any outstanding housing loans.
- Set the interest rate: Use the slider or type the annual interest rate. Click “HDB Loan (2.6%)” to auto-fill the current HDB rate, or enter your bank’s quoted rate for a bank loan package.
- Choose your loan tenure: Drag the slider to set the number of years. MAS rules cap home loan tenures at 30 years (25 years for HDB loans), and the loan must be settled before age 65 (or 75 for private property bank loans in some cases).
- Read your results: The calculator instantly shows your monthly repayment, total interest payable, total repayment amount, and a visual breakdown of principal vs interest.
The calculator updates in real time as you adjust any input. Pro tip: Combine this tool with our HDB Loan vs Bank Loan Calculator to compare the two loan types side by side, and our Retirement Planning Calculator to see how your mortgage fits your long-term retirement timeline.
What Is a Mortgage Repayment Calculator?
A mortgage repayment calculator is a tool that computes your monthly loan instalment based on three key inputs: the loan principal, the annual interest rate, and the loan tenure. In Singapore’s context, this is indispensable for both HDB flat buyers and private property purchasers. The calculator applies the standard annuity amortisation model — the same formula used by HDB and all licensed financial institutions regulated by MAS — to give you an accurate monthly figure before you commit to any loan package.
Beyond the monthly figure, a good calculator also shows you the total interest payable over the full loan term, which is often a sobering number. On a S$500,000 HDB loan at 2.6% over 25 years, total interest paid is approximately S$176,000 — representing 26% of the total repayment. Push the same loan to a bank rate of 4% and total interest jumps to S$290,000. These differences are why Singaporean homebuyers need to stress-test their numbers before signing any OTP (Option to Purchase).
Our free Singapore mortgage repayment calculator also includes a quick-switch between HDB and bank loan rates, making it easy to compare scenarios. Use it alongside our Buy vs Rent Calculator to stress-test your overall decision to purchase a property.
How Mortgage Amortisation Works: The Maths Behind Monthly Repayments
Every mortgage in Singapore uses monthly rest amortisation: interest is calculated on your outstanding principal each month, and your fixed instalment is split between paying off that month’s interest and reducing the principal. In the early years of a loan, you are paying mostly interest; in the later years, the bulk of each payment goes to principal reduction.
Here is a worked example for a S$450,000 loan at 3.5% per annum over 25 years:
| Year | Opening Balance | Annual Interest | Annual Principal |
|---|---|---|---|
| Year 1 | S$450,000 | S$15,602 | S$11,491 |
| Year 5 | S$401,568 | S$13,903 | S$13,190 |
| Year 15 | S$268,194 | S$9,230 | S$17,863 |
| Year 25 | S$26,832 | S$913 | S$26,179 |
Notice how the interest component shrinks from S$15,602 in Year 1 to just S$913 in Year 25, while the principal repayment grows from S$11,491 to S$26,179. This is why making partial capital repayments in the early years has a much larger impact on total interest savings than the same repayment made in later years.
HDB Loan vs Bank Loan: Which Costs More in 2026?
The answer depends heavily on the interest rate environment at the time of purchase. Here is a direct comparison based on a S$450,000 loan over 25 years, as at Q2 2026:
| Loan Type | Rate | Monthly | Total Interest |
|---|---|---|---|
| HDB Concessionary | 2.6% p.a. | S$2,040 | S$162,028 |
| Bank Loan (Fixed 2yr) | 3.2% p.a. | S$2,184 | S$205,132 |
| Bank Loan (Fixed 3yr) | 3.5% p.a. | S$2,258 | S$227,398 |
| Bank Loan (SORA Float) | ~4.0% p.a. | S$2,374 | S$262,289 |
The HDB loan has a higher down payment flexibility (only 10% required, payable entirely from CPF) and no lock-in period, making it more accessible for first-time buyers. Bank loans offer potentially lower initial rates but come with lock-in periods and refinancing costs. For a deeper comparison, see our dedicated HDB Loan vs Bank Loan Calculator.
Best Home Loan Platforms in Singapore
While TKN is primarily an investing and REIT blog, we know many of our readers are homebuyers who want to optimise their overall financial picture. Here are the main channels for securing a home loan in Singapore:
Direct from HDB: The HDB concessionary loan is only available for eligible HDB flat buyers (income ceiling of S$14,000/month for families). No need to shop around — the rate is set at CPF OA + 0.1%, currently 2.6% p.a.
Banks (DBS, OCBC, UOB, Standard Chartered, Maybank): All offer competitive fixed and floating-rate packages. Rates vary quarter to quarter — always compare at least 3 banks. DBS and OCBC typically lead the market in volume and competitive pricing. Use MAS’s MoneySense portal (rel=”nofollow”) or a licensed mortgage broker to compare current rates before committing.
Mortgage Brokers: Platforms like MoneySmart and PropertyGuru Finance offer free comparison and broker services. They earn from referral commissions — use them to get quotes, but verify the rates directly with banks. For the investing side of your home purchase — specifically where to park your emergency fund or short-term savings while waiting — consider platforms like Endowus (Cash Smart) or Syfe Cash+ which currently yield 3.5–4% p.a. on liquid SGD cash.
Using CPF OA to Pay Your HDB Mortgage
Most Singapore homeowners use their CPF Ordinary Account (OA) to service their monthly mortgage instalments, which is permitted under CPF Board rules. The CPF OA currently earns 2.5% per annum (with an additional 1% on the first S$20,000 for members below 55). This creates an important trade-off: every dollar of CPF OA you use to pay your mortgage is a dollar not compounding at 2.5% tax-free — but it also means your cash flow is preserved for other investments.
When you sell your property, you must refund to your CPF account the principal amount withdrawn plus the accrued interest at 2.5% p.a. — this is called CPF accrued interest. For example, if you withdrew S$200,000 from CPF OA over 20 years, you may need to refund S$320,000+ at sale, depending on timing. Use our CPF Accrued Interest Calculator to model this before making your property purchase decision.
For CPF contribution rates (which determine how fast your OA grows), see our CPF Contribution Calculator. Generally, a Singaporean aged 35 earning S$6,000/month contributes S$1,200/month to OA — enough to cover a S$450,000 HDB loan repayment of ~S$2,040 with some room to spare.
Balancing Your Mortgage with Passive Income Goals
Singapore’s financial planning community often talks about the concept of using passive income to “cover” your mortgage instalment — a form of financial independence at the household level. If your S-REIT dividend portfolio or bond ladder generates S$2,000+ per month, your mortgage becomes effectively self-funding. This is an aspirational but achievable goal for many Singapore investors.
A common approach: maximise CPF usage for HDB mortgage (since CPF OA earns 2.5% anyway), and deploy free cash into dividend-generating assets targeting 5–7% yields. Our Dividend Portfolio Yield Calculator lets you model exactly how large a portfolio you’d need to generate a target passive income stream. For S-REIT picks currently yielding above 6%, see our Best S-REITs 2026 guide. And for long-term retirement planning that accounts for your eventual mortgage payoff, use our Retirement Planning Calculator to model your post-mortgage monthly surplus.
Frequently Asked Questions
How do I calculate my monthly mortgage repayment in Singapore?
Use the standard amortisation formula: M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1], where P is your loan amount, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments (years × 12). Our free calculator above does this instantly — just enter your loan amount, interest rate, and tenure.
What is the current HDB loan interest rate in Singapore 2026?
The HDB concessionary loan rate is currently 2.6% per annum as at Q2 2026, pegged at 0.1% above the CPF OA interest rate of 2.5%. This rate is reviewed quarterly by HDB and CPF Board. Bank loan rates in 2026 range from approximately 3.0%–4.5% depending on the package and lender.
What is the maximum loan tenure for HDB flats in Singapore?
HDB concessionary loans have a maximum tenure of 25 years, or until the borrower turns 65, whichever is earlier. Bank loans for HDB flats can extend up to 30 years (MAS rules), subject to MAS’s Total Debt Servicing Ratio (TDSR) of 55% of gross monthly income and Mortgage Servicing Ratio (MSR) of 30% for HDB flats.
How much of my monthly income should go to my mortgage in Singapore?
MAS regulations cap mortgage repayments at 30% of gross monthly income for HDB flats (the Mortgage Servicing Ratio, or MSR) and all property loans are subject to the Total Debt Servicing Ratio (TDSR) of 55%. As a personal finance guideline, keeping housing costs below 30% of take-home pay gives you enough room for investments, emergency funds, and retirement savings.
Can I use CPF to pay my mortgage in Singapore?
Yes. You can use your CPF Ordinary Account (OA) savings to pay monthly instalments on both HDB loans and bank loans for approved residential properties. However, note that CPF funds used must be refunded with accrued interest (2.5% p.a.) upon property sale. Use our CPF Accrued Interest Calculator to estimate your eventual refund amount.
What is a good mortgage interest rate for Singapore in 2026?
For HDB buyers, the concessionary rate of 2.6% is competitive and stable. For bank loans, rates below 3.5% p.a. (fixed) are generally considered good value in the current 2026 rate environment. Always lock in a fixed rate if you prefer payment certainty, and compare at least 3 banks before committing. SORA-linked floating rates may be attractive if you expect rates to fall over the next 2–3 years.
Should I choose a shorter or longer loan tenure in Singapore?
A shorter tenure means higher monthly payments but significantly less total interest paid. A longer tenure lowers your monthly burden but increases total cost. For example, on a S$400,000 loan at 3.5%: a 20-year tenure costs S$165,866 in interest total, while a 30-year tenure costs S$263,498 — nearly S$100,000 more. If your cash flow can handle it, a 20-year tenure is almost always mathematically superior.
How does a partial capital repayment affect my mortgage in Singapore?
Making a lump-sum partial repayment reduces your outstanding principal, which directly lowers the interest accrued in subsequent months. On a bank loan, check for any lock-in period or prepayment penalty (typically 1.5% of the prepaid amount within the lock-in window). On HDB loans, there is no prepayment penalty — you can reduce or clear the loan anytime. Even a S$20,000–S$50,000 partial repayment in Year 5 can save tens of thousands in interest over the remaining loan term.
Put Your Home Loan Knowledge to Work
Now that you know your monthly repayment, plan the rest of your financial picture. Use our free tools to model your retirement, compare investment platforms, and build passive income to cover your mortgage.