Change Repayment Period or Interest Rate

Change your upgrading cost repayment period

You can change your upgrading cost repayment period to be within 1 to 10 years, or more than 10 years.

Within the standard repayment period of 1 to 10 years

You can apply to reduce or extend your upgrading cost repayment period within the standard 1 to 10 years at no extra charge. Please complete and submit the prescribed forms available at any of our HDB Branches.

Your monthly instalment rate will be revised accordingly upon revision of the repayment period. If you are using your CPF savings to pay your instalments, you need to sign a fresh CPF withdrawal form for the revised amount to make the change in CPF deduction. You can either visit your flat's managing HDB Branch to sign the CPF withdrawal form or request for a copy of the form to be sent to you by post.

If you are currently paying your monthly instalment by cash, you can apply for GIRO payment for greater convenience.

More than 10 years

If your gross monthly household income does not exceed $2,000, we will allow you to extend your payment up to a maximum of 25 years.

To apply for this extension, you and your co-owners, if any, will need to visit your flat’s managing HDB Branch with your Identity Cards and documentary proof of your latest combined household income.

Convert upgrading cost interest rate

To convert the interest rate on your outstanding upgrading cost from the HDB market interest rate to the prevailing HDB concessionary interest rate, any Singapore Permanent Resident flat owner billed must obtain Singapore citizenship within 1 year from the upgrading cost’s date of billing. The interest rate will be converted from the first day of the month from when the Singapore Permanent Resident flat owner obtains Singapore citizenship.

For example, Singapore Permanent Resident flat owners A and B were billed for the upgrading cost on 20 August 2014. A obtained Singapore citizenship in January 2015. The household would be able to claim for reimbursement of the upgrading subsidy and convert their interest rate to the HDB concessionary interest rate with effect from 1 February 2015.