Residential
There are various payments to make for an HDB housing loan. Find out what they are, and how to make payment for them.
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.
Your monthly instalments can be paid by any or a combination of the following:
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.
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'.
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. Alternatively, you can:
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.
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:
You can make the housing loan instalment payments using the internet banking services offered by:
You can make a partial capital repayment of your outstanding HDB housing loan via various modes of payment.
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 '.
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:
You must be the flat owner in order to use CPF savings for housing loan payments.
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:
For more information, please visit CPF Board's website.
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.
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:
The cheque or Cashier’s Order must reach the HDB Branch managing your flat before the proposed partial capital repayment date.
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.
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
For PayNow via SGQR
There will also be a 2-Factor Authentication for payments above certain amount as set by the bank.
You can pay off your HDB housing loan early via various modes of payment.
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.
The redemption amount includes interest computed up to the proposed date of redemption, i.e.:
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
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'.
You will need to pay the registration and conveyancing fees for the Total Discharge of Mortgage (TDM).
These are the registration and conveyancing fees (inclusive of 7% GST) for the TDM:
Registration fee (only for lease-issued cases):
$38.30
Conveyancing fee:
1-room $23.50
2-room $35.30
3-room $47.05
4-room $58.85
5-room $70.60
Executive $82.35
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:
You must be the flat owner in order to use CPF savings for the redemption of HDB housing loan and/ or TDM fees.
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.
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.
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.
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.
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.
The cheque or Cashier’s Order must reach the HDB Branch managing your flat before the proposed date of redemption.
Please ensure that you make your payment by the proposed date of redemption.
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:
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.
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.
Important Notice
As part of the COVID-19 support measures, we will be suspending late payment charges on mortgage arrears from 1 April 2020 to 31 December 2021.
The computation of the late payment charge is based on 2% above the Ministry of Finance's average prime lending rate (PLR). The current late payment rate is 7.5% (average PLR of 5.5% + 2%) per annum. The late payment rate is reviewed annually and fixed on 1 April.
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.
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.
