Procedure

Take a look at the steps involved in receiving your bill and paying your upgrading cost. You can also learn about the interest rate that is used to calculate the amount payable.

Upon receiving your upgrading bill

Find out how you can pay your upgrading cost after you receive the invoice.

You will only start to pay your share of the upgrading cost after all upgrading works in your precinct are completed. We will send you an invoice to inform you of the amount payable. 

You can choose any of our payment options, and make payment arrangement with your flat’s managing HDB Branch within 1 month from the invoice’s date of issue. Otherwise, monthly interest and late payment charges will be incurred on the outstanding balance. 

Make payment

You can choose to make an outright payment or pay in monthly instalments.

Full payment

If you would like to pay your upgrading cost in full, you can choose to pay by:

Monthly instalments

You can take up an instalment plan for monthly payments by CPF (using your Singpass) of up to a maximum of 10 years, at the prevailing interest rate.

How to pay your monthly upgrading cost instalment

Your monthly instalments can be paid by any or a combination of the following payment services:

Instructions for payment modes

CPF

You must be the flat owner in order to use CPF savings for upgrading cost payments. To authorise the monthly deductions from your CPF account to pay for your upgrading cost instalments, you will need to submit a CPF withdrawal application.

The monthly CPF deduction takes place on the Sunday between the 6th and 12th of the month (both dates inclusive).

You can make ad-hoc payments if there are shortfalls in your monthly deductions.

GIRO

Once you have successfully submitted the online application for an instalment plan and opted for GIRO to pay the monthly instalment payment, you will need to submit a completed Interbank GIRO (IBG) application form to us.

You can get a pre-filled IBG application form if you are the flat owner. If you are not the flat owner, please fill up this IBG application form.

We will inform you of the GIRO commencement date as soon as your GIRO application is approved by your bank.

The monthly upgrading cost instalment will be deducted from your GIRO bank account on the 28th of the month. If the deduction is unsuccessful, we will attempt a second GIRO deduction on the 6th of the following month. We will deduct the amount on the next working day if the date falls on a Saturday, Sunday or public holiday. The GIRO payment will be posted to your upgrading cost account on the last day of the month. You may check your payment on or after the 5th of the following month.

Please maintain sufficient funds in your GIRO bank account. Your bank may impose a penalty charge for every unsuccessful GIRO deduction. HDB may also impose a late payment charge on outstanding payments.

You may change the GIRO deduction amount if desired.

Lump sum payment (Partial repayment)

During the course of your monthly instalment plan, you can reduce the outstanding upgrading cost balance and repayment period by making a lump sum payment (partial repayment). You will receive an interest rate rebate if your lump sum payment is $500 or more. The interest charged includes the day that we receive the payment. 

Payment Modes

You can make a lump sum payment (partial repayment) using any combination of the following payment services:

For payment by CPF or GIRO, no action is required from you. We will inform CPF Board or your bank to process the deduction(s).

 

Instructions for payment modes

CPF

Only flat owners are allowed to pay by CPF from their CPF Ordinary Account.

GIRO

Your lump sum payment (partial repayment) can be made by GIRO if you are already using GIRO for your monthly upgrading cost instalments. You can indicate the payment mode option as GIRO during your online submission.

GIRO deductions are made on the 28th of the month and posted to your upgrading cost account on the last day of the month.

If the GIRO deduction is unsuccessful, we will attempt a second GIRO deduction on the 6th (or the next working day) of the following month, subject to your confirmation. If the second deduction is successful and the payment is received by the proposed repayment date, the housing loan interest will be charged up to and inclusive of the date the repayment amount is received.

eNETS Debit or PayNow

If you are making an online lump sum payment (partial repayment), you can do so via the eNETS Debit e-Service or PayNow. The maximum amount that you can pay via eNETS Debit or PayNow depends on the withdrawal limit that you set with your bank. Therefore, please check with your bank before proceeding with the payment.

You will need to have an internet banking account with any of these participating banks:

For eNETS Credit/ Debit

  • DBS/POSB
  • OCBC
  • UOB
  • Standard Chartered Bank

For PayNow

  • Bank of China
  • Citibank
  • DBS/ POSB
  • HSBC Bank
  • Industrial and Commercial Bank of China Limited
  • Maybank
  • OCBC Bank
  • Standard Chartered bank
  • United Overseas Bank Limited

There will be a 2-Factor Authentication for payments above certain amount as set by the bank.

Please ensure that you make your payment by the proposed date for lump sum payment (partial repayment).

AXS Channels: AXS Station (Kiosk), AXS m-Station (Mobile app) and AXS e-Station (Online)

You can make your NETS payment via any AXS Station (Kiosk), m-Stations (Mobile app) or e-Stations (Online). The maximum NETS amount payable depends on the limit set by your bank or by yourself with your bank.

Redeem your upgrading cost

If you have applied to pay for your upgrading cost through instalments, you can choose to make full repayment of outstanding cost without any fee imposed.

Calculating your estimated redemption amount

You can check your outstanding balance to estimate your redemption amount.

The amount will include interest computed up to the proposed date of redemption that is scheduled 1 month from the application form’s date of receipt. The estimated redemption amount is calculated as such:

Estimated redemption amount

=

Outstanding upgrading cost as at the end of the application month

+

Interest (charged from the beginning of the redemption month up to the proposed redemption date)

 

=

$A

+

$A × (R% ÷ 12) × (N ÷ M)

Where:

A = outstanding upgrading cost as at the end of the application month
R = prevailing per annum HDB interest rate charged on your upgrading cost
N = number of days from the beginning of the redemption month up to the proposed redemption month
M = total number of days in the proposed redemption month

For example, for an application made on 15 June, the proposed redemption date will be 14 July. With an outstanding upgrading cost balance of $5,000 as at the end of June and an interest rate of 2.6% per annum, the proposed redemption amount would be: 

Proposed redemption amount

=

$5,000

+

$5,000 × (0.026 ÷ 12) × (14 ÷ 31)

 

=

$5,004.89

 

 

Points to note when filling the application form

If you are:

  • Making the full payment by GIRO (for existing GIRO users), cash, or cheque, you need to indicate only your mode of payment.
  • Paying the redemption amount in full by CPF, you need to indicate the proportion (in %) to be deducted from the respective CPF account(s).
  • Paying only part of the redemption amount by CPF, you will need to indicate the payable amount using CPF and your mode of payment (i.e. cash, cheque, or GIRO [for existing GIRO users]) for the remaining balance.

Your redemption of HDB upgrading cost can be made using any of the following services:

For payment by CPF or GIRO, no action is required from you. We will inform CPF Board or your bank to process the deduction(s).

 

CPF

You can only pay your upgrading cost by CPF if you have an existing arrangement with us to pay your monthly instalment by CPF.

GIRO

Your redemption of upgrading cost can be made by GIRO if you are already using GIRO for your monthly upgrading cost instalments. You can indicate the payment mode option as GIRO during your online submission.

Please note that this GIRO arrangement is only available if you submit your request from 6th (12:00am) to 22nd (5:00pm) of the current month.

GIRO deductions are made on the 28th of the month and posted to your upgrading cost account on the last day of the month. If the deduction is unsuccessful, we will attempt a second deduction on the 6th (or the next working day) of the following month, subject to your confirmation.

eNETS Debit or PayNow

If you are making an online redemption, you can use the eNETS Debit e-Service or PayNow to make your payment. The maximum amount that you can pay via eNETS Debit or PayNow depends on the withdrawal limit that you set with your bank. Therefore, please check with your bank before proceeding with the payment.

You will need to have an internet banking account with any of these participating banks:

For eNETS Credit/ Debit

  • DBS/POSB
  • OCBC
  • UOB
  • Standard Chartered Bank

For PayNow

  • Bank of China
  • Citibank
  • DBS/ POSB
  • HSBC Bank
  • Industrial and Commercial Bank of China Limited
  • Maybank
  • OCBC Bank
  • Standard Chartered bank
  • United Overseas Bank Limited

There will be a 2-Factor Authentication for payments above certain amount as set by the bank.

Please ensure that you make your payment by the proposed date of redemption.

AXS Channels: AXS Station (Kiosk), AXS m-Station (Mobile app) and AXS e-Station (Online)

You can make your NETS payment via any AXS Station (Kiosk), m-Stations (Mobile app) or e-Stations (Online). The maximum NETS amount payable depends on the limit set by your bank or by yourself with your bank.

Late payment charges

If you do not make any payment arrangement by the bill expiry date or pay your monthly instalments on time, late payment charges will apply.

Rate for late payment charges

The late payment charge rate is 6.0% per annum from 1 Oct 2025 to 31 Mar 2026. The rate is reviewed bi-annually. 

Late payment charges will continue to be imposed based on the total outstanding upgrading cost or outstanding instalment as at the end of every month, rounded up to the nearest $0.05.

Payment of upgrading cost

If you have not made any arrangement to settle your upgrading cost in full by the bill expiry date that is 1 month from the invoice’s date of issue, late payment charges will be imposed based on the total outstanding upgrading cost as at the end of the month.

Any payment received by us will first be used to settle the outstanding late payment charges. The balance will then be applied towards the payment of the other outstanding charges.

Monthly instalment payments of upgrading cost

If you have opted to pay your upgrading cost in monthly instalments, the instalment payments are due and payable on the 1st of every month. If you do not pay the instalment payment within the month, a late payment charge will be imposed based on the outstanding instalment as at the end of the month.

Any payment received by us will first be used to settle the outstanding late payment charges. The balance will then be applied towards the payment of the other outstanding charges.

If you are currently paying through GIRO, the late payment charges and the arrears amount, including your current month’s charges, will be deducted from your bank account on the 28th of the month. If the deduction is unsuccessful, we will make another attempt on the 6th of the following month. If the date falls on a weekend or public holiday, the deduction will be made the next working day. The GIRO payment will be posted to your upgrading cost account on the last day of the month. You may check your payment on or after the 5th of the following month.

Your bank may impose a penalty charge for every unsuccessful GIRO deduction and we may also impose a charge for late payment. Hence, please maintain sufficient funds in your GIRO bank account to meet the specified payment.

Upgrading cost interest rate

There are different interest rate schemes for upgrading costs paid by instalments.

HDB concessionary interest rate

Singapore Citizen households who opt to pay the upgrading costs by instalments will be charged the HDB concessionary interest rate at 0.1 percentage points above the prevailing CPF interest rate. The HDB concessionary interest rate is revised quarterly in January, April, July, and October in tandem with the revision of the CPF interest rate.

The concessionary interest rates for the last quarter and the prevailing quarters are as follows:

Quarter HDB Concessionary Interest Rate
1 July 2025 to 30 September 2025 2.60% p.a.
1 October 2025 to 31 December 2025 2.60% p.a.
1 January 2026 to 31 March 2026 2.60% p.a.
1 April 2026 to 30 Jun 2026 2.60% p.a.


HDB market interest rate

Non-Singapore Citizen households and corporate ownership who are billed for their share of the upgrading cost will be charged the HDB market interest rate if they opt to pay the upgrading cost by instalments.

The current HDB market interest rate is 3.16% p.a. The rate is reviewed on the 15th of each month, and any revision will take place on the first day of the second month that follows.

The HDB mortgage interest is computed on a monthly rest basis, where interest is imposed monthly based on the outstanding loan balance at the beginning of the month:

Monthly interest payable

=

Outstanding loan balance as at 1st of the month

×

R

÷

12

Where R = interest rate p.a.

Here is an example of how the outstanding loan balance as at the 1st of the month is computed:

Outstanding loan balance (as at 1 September 2014)

=

Outstanding loan balance (as at 1 August 2014)

+

Interest charged for August 2014

–

Payment made in August 2014