Payment

There are various payments to make for an HDB housing loan. Find out what they are, and how to make payment for them.

 

Monthly loan instalment

Upon disbursement of your loan, your monthly instalment payment commences on the first day of the second month. Your monthly instalments are due and payable on the 1st day of subsequent months (for payments not made by CPF or GIRO) until your housing loan is fully redeemed. There are various ways to pay your instalments.

How to pay your monthly loan instalments

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

Payment modes

CPF

You must be the flat owner in order to use CPF savings for housing loan payments. To authorise the monthly deductions from your CPF account to pay for your housing loan instalments, you will need to submit a CPF withdrawal application. In most cases, you would already have done so when you first received the keys to your flat at our Sales Section or Resale Section at HDB Hub.

You would need to be insured under the CPF Board's Home Protection Scheme (HPS) if you are using your CPF savings to service your monthly housing instalments. You will be prompted to submit an HPS application when you are applying to use your CPF savings to pay your housing loan instalments.

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 or vary the CPF contribution rate for payment of the monthly instalment via My HDBPage. Upon logging in, look under 'My Flat > Purchased Flat > Financial Info > Other Related Services'.

 

GIRO

For loan instalment payments by GIRO, you will need to submit a completed Interbank GIRO (IBG) application form to us. You can get a pre-filled IBG application form from My HDBPage 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 housing loan 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 housing loan account on the last day of the month. You may check your payment via My HDBPage on or after 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.

If you wish to change the GIRO deduction amount, you can submit your request online via My HDBPage.

 

eNETS Debit

Please use our eNETS Debit e-Service to make your payment. You will need to have an internet banking account with any of these participating banks:

  • DBS/ POSB
  • OCBC
  • UOB
  • Citibank
  • Standard Chartered Bank (SCB)

 

Internet banking via bank's website

You can make the housing loan instalment payments using the internet banking services offered by:

  • DBS/ POSB
  • OCBC
  • UOB

Partial capital repayment

You can make a partial capital repayment of your outstanding HDB housing loan via various modes of payment.

The proposed date for partial capital repayment will be scheduled 1 month from the date we receive your request. There are 2 available options:
  • Make the partial capital repayment and shorten the repayment period while continuing to pay your usual monthly instalment amount.
  • Revise your monthly instalment amount after making your partial capital repayment.
The minimum amount for partial capital repayment is:
  • $500, if your loan commencement date was before 1 April 2012
  • $5,000, with increments in multiples of $1,000, if your loan commencement date was on or after 1 April 2012

Application

Online Partial Capital Repayment of HDB Housing Loan

You can submit your request for partial capital repayment via My HDBPage (using Singpass). Upon logging in, look under ‘Other Related Services - Partial Capital Repayment’. This option will shorten your repayment period and maintain your current monthly instalment amount following the partial capital repayment.

An acknowledgement will be sent to your given email address once your request is submitted to HDB successfully. Payment instructions will be provided to guide you in completing the partial capital repayment. 

If you wish to change your monthly instalment amount following the partial capital repayment, please book an appointment via our e-Appointment service prior your visit to any HDB Branch so that we can advise and work out the repayment plan for you.

Making partial capital repayments will help to reduce your interests. You can estimate the interest savings via My HDBPage. Upon logging in, look under ' Other Related Services - Housing Loan Interest Calculator '. 

Payment modes

It is important that you submit the request for partial capital repayment via My HDBPage (using Singpass) and received the email acknowledgement before you proceed to make payment.

Payment can be made using any or a combination of:

  • CPF
  • GIRO (if you are already using GIRO to pay your monthly housing loan instalments)
  • PayNow via SGQR  (participating banks)
  • Cheque/ Cashier’s Order
  • AXS Channels: AXS Station (Kiosk), AXS e-Station (Online) ,and AXS m-Station (Mobile application)
  • eNETS Debit (participating banks)
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).

For payment by PayNow via SGQR, AXS channels or eNETS Debit, please refer to the email acknowledgement, “Instructions for Payment” for the given links to complete your payment.
 

Further instructions for payment modes

CPF

You must be the flat owner in order to use CPF savings for housing loan payments.

CPF Board policies to note if you bought a resale or DBSS flat

Under the CPF Board's prevailing policy, owners who purchase a resale or DBSS flat may use their Ordinary Account (OA) savings up to the lower of the purchase price or the valuation price of the flat at the point of purchase.

Thereafter, if the housing loan is still outstanding, owners can continue to use their OA savings to pay the housing loan if they can set aside the Basic Retirement Sum* in their CPF accounts to provide them with a monthly income to support a basic standard of living during retirement.

*Members who are below 55 years old need to set aside the current Basic Retirement Sum, while members who are 55 years old and above need to set aside their applicable Basic Retirement Sum. 

To ensure successful deduction of CPF for making partial capital repayment of housing loan, you are advised to check with CPF Board on the remaining amount that you can withdraw for the flat before your submission.

Please note that different limits apply if:

  • your flat was purchased before 10 May 2019 and has a remaining lease of less than 60 years at the time of purchase; or
  • your flat was purchased on or after 10 May 2019 and the remaining lease of the flat does not cover the youngest owner who is using CPF saving for the flat to 95 years old. 

For more information, please visit CPF Board's website.

GIRO

Your partial capital repayment can be made by GIRO if you are already using GIRO for your monthly housing loan instalments by indicating this payment mode option during your online submission.

GIRO deductions are made on the 28th of the month and posted to your housing loan 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.

Cheque/ Cashier’s Order

Please make your crossed cheque or Cashier’s Order payable to ‘Housing & Development Board’. On the reverse of the cheque or Cashier’s Order, please write your:

  • Flat address
  • HDB reference number
  • Purpose of payment, i.e. ‘partial capital repayment’

The cheque or Cashier’s Order must reach the HDB Branch managing your flat before the proposed partial capital repayment date.

NETS via AXS payment channels

The maximum amount that you can pay by NETS depends on the daily withdrawal limit that you set with your bank. Therefore, please check with your bank before proceeding with your NETS payment via any AXS Station, e-Stations, or m-Stations.

Please ensure that you make your payment by the proposed date of partial capital repayment.

eNETS Debit or PayNow via SGQR

The maximum amount that you can pay by eNETS Debit or PayNow depends on the daily withdrawal limit that you set with your bank. Therefore, please check with your bank before proceeding with your payment.

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

For eNETS Debit 

  • Citibank
  • DBS/ POSB
  • OCBC Bank
  • Standard Chartered Bank (SCB)
  • United Overseas Bank Limited (UOB)

For PayNow via SGQR

  • Bank of China (BOC)
  • Citibank
  • DBS/ POSB
  • HSBC Bank
  • Industrial and Commercial Bank of China Limited (ICBC)
  • Maybank
  • OCBC Bank
  • Standard Chartered Bank (SCB)
  • United Overseas Bank Limited (UOB)

There will also 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 partial capital repayment.

Other Important information

  • There is no lock-in period and administrative fee for making partial capital repayment towards the housing loan.
  • No interest rebate shall be given if the payment amount received is less than the minimum amount.
  • Housing loan interest will be charged up to and inclusive of the date we receive your partial capital repayment.
  • Your request shall be subject to the terms and conditions of your Mortgage and Memorandum of Mortgage, as well as HDB’s prevailing policies. HDB fully reserves the right to reject a request at its discretion.
  • CPF Board Home Protection Scheme (HPS)
    • Your HPS premium will be adjusted accordingly with the adjustment of your loan quantum/ repayment period.
    • If you are covered under the Single Premium HPS, your existing HPS coverage will be terminated and your CPF Ordinary Account will be credited with the surrender value of the HPS policy, i.e. the unused premium under the cover. At the same time, a new annual premium HPS will be issued to you based on your latest outstanding loan and repayment period. Please contact CPF Board if you require further clarification about this.

Redemption of HDB housing loan

You can pay off your HDB housing loan early via various modes of payment.

Online Redemption of HDB Housing Loan

You can submit your request to pay off your loan via My HDBPage (using Singpass). Upon logging in, look under ‘Other Related Services - Redemption of Housing Loan’.

The proposed date of redemption will be scheduled 1 month from the date we receive your request. All payments have to reach us by this proposed date. During your submission, we will compute the redemption amount and fees payable for the discharge of loan. An acknowledgement will be sent to your given email address once your request is submitted to HDB successfully. Payment instructions will be provided to guide you in completing the redemption. 

Computation of the redemption amount

The redemption amount includes interest computed up to the proposed date of redemption, i.e.:

  • Outstanding housing loan as at submission month + interest for the beginning of the redemption month up to the proposed redemption date = Estimated redemption amount
  • As a formula, this works out as:
    • A + [A x (R/12) x (N/M)] = Estimated redemption amount

Where:

A = Outstanding housing loan as at submission month

R = Prevailing HDB housing loan interest rate per annum (p.a.)

N = Number of days from the beginning of the redemption month up to the proposed redemption date

M = Number of days in the redemption month (month of proposed redemption date)

Example

  • Submission date: 15 June
  • Proposed redemption date (for N and M): 14 July
  • Outstanding housing loan (A): $105,000 (as at 15 June)
  • Prevailing HDB housing loan interest rate (R): 2.60% p.a.

Therefore, the estimated redemption amount is:

$105,000 + [$105,000 x (2.60%/12) x (14/31) = $105,102.74

Paying off your loan early will help to reduce your interests. You can estimate the interest savings via My HDBPage. Upon logging in, look under 'Other Related Services - Housing Loan Interest Calculator'.

Fees for discharge of housing loan

You will need to pay the registration and conveyancing fees for the Total Discharge of Mortgage (TDM).

These are the registration and conveyancing fees for the TDM:

  • Registration fee (only for lease-issued cases):

    • $38.30

  • Conveyancing fee (inclusive of 7% GST)  :

    • 1-room               $23.50

    • 2-room               $35.30

    • 3-room               $47.05

    • 4-room               $58.85

    • 5-room               $70.60

    • Executive           $82.35

Payment modes

It is important that you submit the request to pay off your loan via My HDBPage (using Singpass) and received the email acknowledgement before you proceed to make payment.

Payment can be made using any of the following:

  • CPF
  • GIRO (if you are already using GIRO to pay your monthly housing loan instalments)
  • PayNow via SGQR (participating banks)
  • Cheque/ Cashier’s Order
  • eNETS Debit (participating banks)
  • AXS Channels: AXS Station (Kiosk), AXS e-Station (Online) ,and AXS m-Station (Mobile application)
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).

For payment by PayNow via SGQR, AXS channels or eNETS Debit, please refer to the email acknowledgement, “Instructions for Payment” for the given links to complete your payment.
 

Further instructions for payment modes

CPF

You must be the flat owner in order to use CPF savings for the redemption of HDB housing loan and/ or TDM fees.

If you are paying monthly instalments by CPF

Your CPF monthly deductions will automatically stop when we receive your redemption request. If the redemption is cancelled, you will need to give new monthly CPF deduction instructions using the CPF withdrawal form available at the HDB Branch managing your flat.

CPF Board policies to note if you bought a resale or DBSS flat

Under CPF Board's prevailing policy, owners who purchase a resale or DBSS flat may use their CPF Ordinary Account (OA) savings up to the lower of the purchase price or the valuation price of your flat at the point of purchase.

Thereafter, if the housing loan is still outstanding, owners can continue to use their OA savings to pay the housing loan if they can set aside the Basic Retirement Sum* in their CPF accounts to provide them with a monthly income to support a basic standard of living during retirement.

*Members who are below 55 years old need to set aside the current Basic Retirement Sum, while members who are 55 years old and above need to set aside their applicable Basic Retirement Sum. 

To ensure successful deduction of CPF for redemption of housing loan, you are advised to check with CPF Board on the remaining amount that you can withdraw for the flat before your submission.

Please note that different limits apply if:

a) your flat was purchased before 10 May 2019 and has a remaining lease of less than 60 years at the time of purchase; or

b) your flat was purchased on or after 10 May 2019 and the remaining lease of the flat does not cover the youngest owner who is using CPF saving for the flat to 95 years old. 

For more information, please visit CPF Board's website.

 

GIRO

Your redemption of housing loan can be made by GIRO if you are already using GIRO for your monthly housing loan instalments by indicating this payment option 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 housing loan 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.

Cheque/ Cashier’s Order

Please make your crossed cheque or Cashier’s Order payable to ‘Housing & Development Board’. On the reverse of the cheque or Cashier’s Order, please write your:

  • Flat address
  • HDB reference number
  • Purpose of payment, i.e. ‘redemption of housing loan’ and/ or ‘TDM fees’

The cheque or Cashier’s Order must reach the HDB Branch managing your flat before the proposed date of redemption.

NETS via AXS payment channels

The maximum amount that you can pay by NETS depends on the daily withdrawal limit that you set with your bank. Therefore, please check with your bank before proceeding with your NETS payment via any AXS Station, e-Stations, or m-Stations.

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

eNETS Debit or PayNow via SGQR

The maximum amount that you can pay by eNETS Debit or PayNow depends on the daily withdrawal limit that you set with your bank. Therefore, please check with your bank before proceeding with your payment. 

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

For eNETS Debit 

  • Citibank
  • DBS/ POSB
  • OCBC Bank
  • Standard Chartered Bank (SCB)
  • United Overseas Bank Limited (UOB)

For PayNow via SGQR

  • Bank of China (BOC)
  • Citibank
  • DBS/ POSB
  • HSBC Bank
  • Industrial and Commercial Bank of China Limited (ICBC)
  • Maybank
  • OCBC Bank
  • Standard Chartered Bank (SCB)
  • United Overseas Bank Limited (UOB)

There will also 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.

Other important information

  • Housing loan interest will be charged up to and inclusive of the date we receive the redemption amount.
  • Your request shall be subject to the terms and conditions of your Mortgage and Memorandum of Mortgage, as well as HDB’s prevailing policies. HDB fully reserves the right to reject a request at its discretion.

Arrears payment

You can pay the arrears for your loan instalment through CPF, electronic payments methods e.g. GIRO, eNETS Debit, or cash/ NETS.

You can pay the arrears for your housing loan instalment through any of the following ways:

GIRO payment

You can change the GIRO deduction amount for a particular month by submitting your request through MyHDBPage.

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.

We make deductions 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 (or the next working day) of the following month. The GIRO payment will be posted to your housing loan account on the last day of the month. You may check your payment via My HDBPage on or after 5th of the following month.

Late payment charges

Instalment payments are due on the 1st of every month. If the instalment payment is not made within the month, a late payment charge will be imposed based on the outstanding instalment as at the end of the month.

Rate for late payment charges

The late payment charge rate  is 7.5% per annum from 1 April 2022 to 31 March 2023. The rate is reviewed annually and fixed on 1 April. 

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

Order of payment

Any payment received from you will first be used to settle outstanding late payment charges. Any balance is then applied towards the payment of the other outstanding charges.

GIRO payment

If you are paying your loan instalments through GIRO, please ensure there are sufficient funds in your GIRO bank account. The late payment charges and arrears amount, as well as your current month’s instalment, will be deducted on the 28th of the month.

If the deduction is unsuccessful, we will attempt a second GIRO deduction on the 6th (or the next working day) of the following month. The GIRO payment will be posted to your housing loan account on the last day of the month. You may check your payment via My HDBPage on or after 5th of the following month. 

If the deductions are unsuccessful, further charges may be imposed by your bank and HDB.