Compare the two main loan options side by side. HDB loans offer a fixed rate and higher LTV but cost more in total interest. Bank loans are cheaper but come with variable rates.
| HDB Loan | Bank Loan | |
|---|---|---|
| Interest rate | 2.6% (fixed, pegged to CPF OA + 0.1%) | ~2.5-3.5% (variable, changes with market) |
| Max LTV | 80% | 75% |
| Min down payment | 10% cash + 10% CPF | 5% cash + 20% CPF/cash |
| Max tenure | 25 years | 30 years |
| Penalty for early repayment | None | Typically 1.5% in lock-in period |
| Refinancing | Can refinance to bank later | Cannot switch to HDB loan |
| Eligibility | Singapore Citizens only, income ceiling applies | Anyone with property in Singapore |
This calculator assumes a fixed interest rate for the full loan tenure. Bank loan rates are typically variable and may change. Always compare specific bank packages and consult a mortgage specialist before committing. Source: HDB, MAS.