TDSR Calculator
Find the maximum property loan you can service under Singapore's 55% Total Debt Servicing Ratio — and the 30% Mortgage Servicing Ratio for HDB flats and ECs — using MAS's 4% medium-term interest rate floor.
TDSR Calculator
Maximum property loan you can service · 2026
Estimates only. The loan you are offered also depends on Loan-to-Value limits, your age, the property's valuation, and each bank's own credit assessment. Actual approval is made by your bank and by HDB for HDB loans.
Servicing Ratio
PRIVATEWhere your income goes
Your monthly income sets a ceiling on total debt repayments. Existing debts are subtracted first; whatever is left can service a new property loan, subject to the 55% TDSR limit (and the 30% MSR limit for HDB flats and ECs). Per MAS.
Monthly income allocation
Loan capacity by tenure
The same monthly repayment supports a larger loan over a longer tenure, but total interest rises. This shows the maximum loan your available repayment can support at the stress-test rate across tenures.
| Tenure | Monthly repayment | Max loan |
|---|---|---|
| 5 years | SGD 4,400 | SGD 238,916 |
| 10 years | SGD 4,400 | SGD 434,589 |
| 15 years | SGD 4,400 | SGD 594,845 |
| 20 years | SGD 4,400 | SGD 726,096 |
| 25 years | SGD 4,400 | SGD 833,591 |
| 30 years | SGD 4,400 | SGD 921,629 |
How TDSR and MSR work
Two rules from the Monetary Authority of Singapore cap how much of your income can go to loan repayments. Per MAS.
| Rule | Limit | Applies to | Counts |
|---|---|---|---|
| TDSR | 55% of gross monthly income | All property loans | All debt repayments |
| MSR | 30% of gross monthly income | HDB flats & ECs from developer | Property loans only |
Income haircuts and countable debts
Not all income counts in full, and most debts count against you. These MAS rules shape the numbers this tool uses. Per MAS.
| Item | Treatment |
|---|---|
| Fixed salary | Counted in full |
| Variable income (bonus, commission, rental) | Minimum 30% haircut; averaged over 12 months |
| Eligible financial assets | Amortised over 48 months; unpledged assets take a 30% haircut, pledged (4 years) none |
| Property, car, personal & student loans | Counted at monthly repayment |
| Credit cards & revolving loans | Minimum monthly payment; if unknown, interest on the full credit limit |
The formulas used
This tool follows MAS's approach to computing servicing ratios and converts the available repayment into a maximum loan.
| Step | Formula |
|---|---|
| Income counted | Fixed income + 70% × variable income |
| TDSR ceiling | 55% × income counted |
| MSR ceiling (HDB / EC) | 30% × income counted |
| Available repayment | Lower of (TDSR ceiling − all debts) and (MSR ceiling − property debts) |
| Maximum loan | Repayment × [1 − (1 + r)−n] ÷ r |
TDSR, MSR & the Stress-Test Rate
The servicing-ratio limits, income haircuts, and interest rate floor that decide how much you can borrow for a property in Singapore — sourced from MAS and HDB.
The Two Limits
Two ratios cap how much of your income can go to loan repayments.
Income Treatment
How different income types are counted toward the ratios.
Loan Tenure Caps
Maximum tenure limits the monthly repayment and the loan size.
TDSR vs MSR — How They Differ
Both are servicing-ratio limits set by the Monetary Authority of Singapore, but they cover different debts and different property types. Per MAS.
| Feature | TDSR | MSR |
|---|---|---|
| Limit | 55% of income | 30% of income |
| Debts counted | All debt repayments | Property loans only |
| Applies to | All property loans | HDB flats & ECs from developer |
| Private property | Yes | No |
| HDB flat / new EC | Yes | Yes — both apply |
What Counts as Income and Debt
MAS sets rules on how income is recognised and which debts are counted. Per MAS — Calculating TDSR.
| Item | Treatment | Notes |
|---|---|---|
| Fixed salary | Counted in full | Basic monthly employment income |
| Variable income | 70% | Bonus, commission, rental; averaged over 12 months |
| Eligible assets (unpledged) | 70% | Amortised over 48 months |
| Eligible assets (pledged 4 yr) | 100% | Pledged with the lending bank |
| Property / car / personal loans | Full monthly repayment | Includes the new loan applied for |
| Credit cards & revolving | Minimum payment | If unknown, interest on full credit limit |
The Stress-Test Interest Rate
Banks assess your loan at a floor rate rather than today's rate, so that repayments stay affordable if rates rise. Per MAS.
| Property type | Rate floor | In effect |
|---|---|---|
| Residential | 4.0% | From 30 Sep 2022 (up from 3.5%) |
| Non-residential | 5.0% | From 30 Sep 2022 (up from 4.5%) |
TDSR & MSR News & Policy Updates
The MAS rules that shape how much you can borrow for a property — the 55% TDSR, the 30% MSR, the 4% stress-test floor, income haircuts, and the latest Loan-to-Value change.
HDB loan Loan-to-Value limit lowered to 75%
From 20 August 2024, the Loan-to-Value limit for HDB housing loans was lowered from 80% to 75%, aligning it with bank loans. Buyers now need a larger downpayment, which works alongside the TDSR and MSR limits to shape affordability.
What changed
HDB concessionary loan LTV cut from 80% to 75%. The minimum downpayment for an HDB loan rose to 25% of the purchase price.
How it interacts
LTV caps the loan against the property value; TDSR and MSR cap it against your income. The lower of the two determines the actual loan.
30% Mortgage Servicing Ratio still applies to HDB flats and new ECs
The 30% MSR caps property-loan repayments for HDB flats and Executive Condominiums bought from a developer. For these homes both the MSR and the 55% TDSR apply, and the lower limit binds — usually the MSR.
Where MSR applies
HDB flats and ECs from a developer within the Minimum Occupation Period. Resale ECs past MOP and private property use TDSR only.
Binding limit
Because 30% is lower than 55%, the MSR usually determines the maximum HDB loan unless you carry large non-property debts.
30% haircut on variable income when computing TDSR
MAS requires banks to apply a minimum 30% haircut to variable income — bonuses, commissions, and rental income — averaged over the preceding 12 months. Only 70% of variable income counts; fixed salary counts in full.
Income rules
Variable income counted at 70%; eligible financial assets amortised over 48 months, with a 30% haircut if unpledged.
Planning tip
Pledging eligible assets with the lending bank for four years removes the haircut, raising the income counted toward TDSR.
TDSR & MSR — Frequently Asked Questions
Common questions about Singapore's Total Debt Servicing Ratio, the Mortgage Servicing Ratio, income haircuts, and the stress-test rate — with current MAS rules.
The Total Debt Servicing Ratio (TDSR) limits your total monthly debt repayments to 55% of your gross monthly income. It applies to loans to buy or refinance any property. Introduced by MAS in 2013 and tightened to 55% for loans where the Option to Purchase was granted on or after 16 December 2021, it is designed to ensure borrowers do not take on more debt than they can service.
MAS — TDSRFirst your countable income is found (fixed income plus 70% of variable income). The 55% TDSR ceiling is then reduced by your existing monthly debt repayments to give the repayment available for a new loan. That available repayment is converted into a maximum loan using the loan tenure and the stress-test interest rate. For HDB flats and ECs the 30% MSR limit may bind first.
MAS — MSR & TDSR RulesAll of your monthly debt obligations count, including the new loan you are applying for:
- Property loans (including the one being applied for)
- Car loans
- Personal and student loans
- Renovation loans
- Credit card and other revolving loans (minimum monthly payment; if unknown, interest on the full credit limit)
MAS requires banks to apply a minimum 30% haircut to variable income such as bonuses, commissions, and rental income, because it is less certain than a fixed salary. Only 70% of your variable income is counted, and it is averaged over the preceding 12 months. Your fixed salary is counted in full.
MAS — Calculating TDSRYes. Eligible financial assets (such as cash, shares, or gold) can be converted into a notional income stream amortised over 48 months. Unpledged eligible assets take a 30% haircut; assets pledged with the lending bank for at least four years take no haircut. Banks verify the assets still exist before disbursing the loan.
MAS — Calculating TDSRTDSR caps all your debt repayments at 55% of income and applies to every property loan. MSR (Mortgage Servicing Ratio) caps only your property-loan repayments at 30% of income and applies only to HDB flats and to ECs bought directly from a developer. For those homes both rules apply, and the lower ceiling is binding.
MAS — MSR & TDSR RulesNo. The 30% MSR applies to HDB flats and to Executive Condominiums bought from a developer where the Minimum Occupation Period has not expired. For a resale EC that is past its MOP, or for private residential property, only the 55% TDSR applies.
MAS — MSR & TDSR RulesBanks do not assess your loan at today's interest rate. They use the higher of the actual rate or MAS's medium-term interest rate floor, which is currently 4.0% for residential property (and 5.0% for non-residential). This ensures you could still afford repayments if interest rates rise. The floor was raised from 3.5% to 4.0% on 30 September 2022.
MAS — TDSRNo. HDB housing loans are assessed against the 30% MSR, not the 55% TDSR. TDSR applies when you take a bank loan for a property. If you take a bank loan on an HDB flat or an EC from a developer, both the 30% MSR and the 55% TDSR apply.
MAS — MSR & TDSR RulesBecause TDSR is a ratio, you can raise your borrowing headroom by lowering existing debt repayments or raising countable income:
- Pay down or close car, personal, and credit-card debts before applying
- Extend the loan tenure (within age and property limits) to reduce the monthly repayment
- Add a co-borrower with income and low debts
- Pledge eligible financial assets to have them counted with no haircut
Yes, up to a point. A longer tenure lowers the monthly repayment, so the same 55% ceiling supports a larger loan. However, tenure is capped — generally 30 years for private property and 25 years for HDB loans — and is further limited by your age and the property's remaining lease. Longer tenures also mean more total interest paid.
MAS — MSR & TDSR RulesNo. This tool gives an estimate based on the TDSR and MSR rules only. Your actual loan also depends on the Loan-to-Value limit, the property's valuation, your credit history, and each bank's assessment. For a firm figure, obtain an In-Principle Approval from a bank or an HDB Flat Eligibility (HFE) letter.
HDB — Financing a FlatThe relationships behind the maximum-loan estimate. Actual approval is made by your bank.
Income Counted
Fixed income plus 70% of variable income.
Variable income takes a 30% haircut
Available Repayment
Ceiling less existing debts; lower of TDSR and MSR.
MSR term applies to HDB flats & ECs only
Maximum Loan
Present value of the available repayment.
r = stress rate ÷ 12; n = tenure × 12
Monthly Repayment Check
Repayment on a given loan at the stress rate.
Must stay within the available repayment
Important Disclaimer
For educational and informational purposes only. This tool produces estimates of the maximum property loan you may be able to service under Singapore's Total Debt Servicing Ratio (TDSR) framework. It applies the 55% TDSR limit, the 30% Mortgage Servicing Ratio (MSR) for HDB flats and Executive Condominiums bought from a developer, a 30% haircut on variable income, and the Monetary Authority of Singapore's medium-term interest rate floor of 4.0% for residential property. Maximum loan figures are the present value of the maximum monthly repayment over the tenure and interest rate you select.
No warranty of accuracy. While Money Snap sources these rules from the Monetary Authority of Singapore and HDB, this tool is provided "as is" without any express or implied warranty as to accuracy, completeness, or timeliness. The actual loan you can obtain also depends on Loan-to-Value limits, the property's valuation, your age and remaining lease, and each lender's own credit assessment and prevailing interest rates. Servicing-ratio rules and interest rate floors are reviewed and revised by MAS and may be out of date here.
Not financial advice. Information provided is general in nature only and does not take into account your personal objectives, financial situation, or needs. Results do not constitute financial, mortgage, or property advice. Before making any decision, obtain an in-principle approval from a bank or an HDB Flat Eligibility (HFE) letter, and consider advice from an MAS-licensed financial adviser or mortgage broker.
Limitation of liability. To the maximum extent permitted by law, Money Snap accepts no liability for any loss, damage, cost, or expense arising from reliance on this tool or the information it produces. Users are responsible for verifying all figures with MAS, HDB, and their lender before relying on them. Use is subject to our Terms of Use.
Official data sources
TDSR 55%, MSR 30%, 30% variable-income haircut and the 4.0% residential medium-term rate floor are current MAS rules. Loan figures are estimates — your bank makes the final assessment.