HDB vs Bank Loan Comparison

Compare HDB concessionary loans with bank loans to find the best option for your flat.

Singapore Housing Loan Comparison

Enter your flat details to see a side-by-side comparison of HDB and bank loans

Flat Details

Total price of HDB flat
CPF Housing Grant if eligible
Loan repayment period
CPF OA balance for down payment

Interest Rates

Fixed rate (CPF OA + 0.1%)
Current bank floating rate
Your estimate over loan tenure

HDB Loan vs Bank Loan Guide

HDB Loan Advantages

  • Fixed Rate: 2.6% pegged to CPF OA rate
  • Higher LTV: Borrow up to 80% of flat value
  • Full CPF: Use 100% CPF for down payment
  • No Penalty: Partial/full prepayment allowed
  • Flexibility: Can refinance to bank later

Bank Loan Advantages

  • Lower Initial Rate: May start below 2.6%
  • No Income Ceiling: Available to all buyers
  • Refinancing Options: Switch banks for better rates
  • Private Property: Can upgrade to condo later
  • Rate Lock: Some offer fixed period options

Key Considerations

  • Cash Requirement: Bank needs 5% cash down
  • Rate Risk: Bank rates can rise significantly
  • Eligibility: HDB has income ceiling ($14,000)
  • Refinancing: Bank to HDB switch not allowed
  • Total Cost: Calculate over full loan tenure

When to Choose Which

  • Choose HDB if: You prefer stability and security
  • Choose HDB if: You have limited cash savings
  • Choose Bank if: You expect rates to stay low
  • Choose Bank if: You plan to refinance actively
  • Choose Bank if: Income exceeds HDB ceiling