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Subsidies and Financial Assistance Measures
The upgrading programmes help enhance the homes and living environment of Singaporeans living in public housing estates. These programmes form part of the Government's continual efforts to enhance Singaporeans’ quality of life through its public housing programme.
If your household consists of a Singapore Citizen owner, the Government provides subsidies so that you will only need to pay a fraction of the total upgrading cost for your flat.
Find out what subsidies are available for these upgrading programmes:
If all the owners in the household are Singapore Permanent Residents at the point of billing, you need to pay the full upgrading cost. If you opt to pay your upgrading costs in monthly instalments, you will be charged the HDB market interest rate.
Your household can claim for reimbursement of upgrading subsidy and convert your interest rate from the HDB market interest rate to the HDB concessionary interest rate if you meet the following conditions:
Under the Main Upgrading Programme, the household is treated as having enjoyed an upgrading subsidy upon its reimbursement.
If you are having trouble paying your monthly instalments of the upgrading cost, you can approach your managing HDB Branch for assistance. We offer financial assistance to flat owners
As monthly interest will be charged based on your outstanding balance each month, the interest will accumulate with the time you take to pay. Hence, we advise that you review your monthly repayment once your financial circumstances improve.
If your gross monthly household income does not exceed $2,000, you can reduce the monthly instalment payment by repaying the upgrading cost over a maximum repayment period of 25 years.
You and your co-owners, if any, need to personally visit your flat’s managing HDB Branch with your Identity Cards and documentary proof of your latest combined household income to apply for assistance.
With the extension of the repayment period, the monthly instalment that you need to pay will be reduced accordingly. Please see the following example:
Based on the interest rate of 2.6%, his monthly upgrading instalment will be $30, or $6,000 over 22 years
If you and your co-owners, if any, are aged 55 and above, your upgrading cost payment can be deferred with interest until any of the following conditions are met, subject to our approval:
You and your co-owners must
Based on the merits of each case, we may allow you to defer your payment with interest. There are 3 possible options, subject to our approval:
You and your co-owners, if any, need to personally visit your flat’s managing HDB Branch with your Identity Cards and appropriate documentary proof to apply for the deferment.