Housing Loan (HDB Loan or Bank Loan)

In deciding between HDB Loan and Bank Loan, it is carefully considering your financial situation, risk tolerance and long-term plans. An HDB Loan provides stability and lower interest rates, while Bank Loan offers flexibility and potential for lower interest rates.

For HDB Loan, you can apply HDB Flat Eligibility (HFE) through HDB Flat Portal. The HFE letter is valid for 9 months from the date of issue. And for Bank Loan, you can check your In-Principal Approval (IPA) with financial institution first.

#Eligibility

You can apply for HDB loan if you and your essential occupiers meet ALL these conditions.

1. At least one buyer is a Singapore Citizen (This means that PR households can only take up a bank loan).
2. Never taken any HDB housing loan before/ taken once only (Can only take up HDB loan twice).
3. Gross monthly income does not exceed S$14,000 for families, S$7,000 for single buyer who buy 5-room or smaller resale HDB flat
4. Must not own or have disposed any private residential property 30 months before the date of application for HLE letter
5. Must not own more than 1 market/ hawker stall or commercial/ industrial property.

Bank Loan Chart