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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:

  • CPF
  • GIRO
  • eNETS Debit (participating banks)
  • Internet banking (participating banks)
  • AXS payment channels [AXS Station (self-service kiosk), AXS e-Station (on desktop), AXS m-Station (on mobile)]

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.

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 via My HDBPage. Upon logging in, look under 'My Flat > Purchased Flat > Financial Info > Other Related Services'.

To vary the CPF contribution rate for payment of the monthly instalment for you and your co-flat owner(s), you can submit a CPF withdrawal application at any HDB Branch. Please bring along the following during your visit:

  • Your identity card
  • Latest CPF Statement of Account

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. Alternatively, you can:

  1. Sign up online if you have an internet banking account with OCBC or UOB
  2. Request for an application form at our HDB Branches, HDB Hub counters, or call our Branch Service Line on 1800-225-5432 during office hours

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 by giving us 1 month’s advance notice.

The date for the partial capital repayment will be scheduled 1 month from the date we receive your application. 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 use My HDBPage to submit your partial capital repayment. Upon logging in, look under ‘My Flat > Purchased Flat > Financial Info > Other Related Services’. This option will shorten your repayment period and maintain your current monthly instalment amount following your partial capital repayment.

Application Form for Partial Capital Repayment of HDB Housing Loan

Please complete and submit the form at any HDB Branch, or by post to the HDB Branch managing your flat, if you wish to either:

  • Revise your monthly instalment amount following your partial capital repayment, or
  • Shorten your repayment period and maintain your current monthly instalment amount following your partial capital repayment.

The form is also available at any HDB Branch.

Making partial capital repayments will help to reduce your interests. You can estimate the interest savings with our Mortgage Interest Calculator via My HDBPage. Upon logging in, look under 'My Flat > Purchased Flat > Financial Info > Other Related Services'. 

Payment modes

Your partial capital repayment can be made using any or a combination of:

  • CPF
  • GIRO (if you are already using GIRO to pay your monthly housing loan instalments)
  • Cheque/ Cashier’s Order
  • NETS via AXS payment channels [AXS Station (self-service kiosk), AXS e-Station (on desktop), AXS m-Station (on mobile)]
  • eNETS Debit (participating banks)
  • Internet banking (participating banks)

Further instructions for payment modes

CPF

You must be the flat owner in order to use CPF savings for housing loan payments. To authorise the CPF Board to remit payment to HDB, please complete and submit the CPF withdrawal form.

If you submitted your partial capital repayment application by post, we will post the CPF withdrawal form to your mailing address. Upon receiving the form, please submit it to your managing HDB Branch within 10 working days so that the CPF Board can remit the funds to us in time for the proposed partial capital repayment date.

CPF withdrawal form

The CPF withdrawal form is available at any HDB Branch. For us to verify that you have sufficient CPF savings to make the partial capital repayment. You can either:

  • Authorise us to obtain your CPF account information on your behalf (authorisation given by default in the CPF withdrawal form), or
  • Submit your latest CPF Statement  together with the CPF withdrawal form. When doing so, please strike out the authorisation clause under Part IV of the CPF withdrawal form and sign next to that cancellation

If you are visiting an HDB Branch to submit the CPF withdrawal form, please bring along:

  • Your identity card
  • Latest CPF Statement of Account
CPF Board policies to note if you bought a resale or DBSS flat

If you are making a partial capital repayment by CPF for a resale or DBSS flat, do note that your total CPF withdrawals are subject to the Valuation Limit (VL), which is the lower of the purchase price or market valuation of your flat at the point of purchase.

If your total CPF withdrawals have reached the VL, and you are:

  • below 55 years old, you may continue to use your Ordinary Account (OA) savings to repay the housing loan after setting aside the current Basic Retirement Sum in your Special Account (including the amount used for investments) and OA.
  • 55 years old and above, you may continue to use your OA and Retirement Account (RA) savings in excess of the Basic Retirement Sum you need to set aside in cash.  

You may make use of the online CPF Housing Withdrawal Limits Calculator at CPF Board's website to estimate when you will reach your flat's 100% VL and how much more CPF savings you can use above the VL.

To ensure successful deduction of CPF for making partial capital repayment of housing loan, you are advised to check with CPF Board that your total CPF withdrawal has not exceeded the VL before submitting your application.

Please note that different limits apply if you purchase a flat which has a remaining lease of less than 60 years. For more information, please contact the CPF Board at 1800-227-1188 or public-housing@cpf.gov.sg.

GIRO

Your partial capital repayment can be made by GIRO if you are already using GIRO for your monthly housing loan instalments.

GIRO deductions are made on the 28th of the month and posted to your housing loan account on the last day of the month. Your application form must reach us by the 22nd of the month for the deduction to be made in the same month. Otherwise, the deduction will only be made in the following month, with interest on the payment amount charged up to the end of that 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

If you are making an online partial capital repayment, it is important that you receive our email notification that your submission is successful. Thereafter, 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

If you are making an online partial capital repayment, it is important that you receive our email notification that your submission is successful. You can then make 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. Also, do note that you might need to adjust your maximum NETS usage limit with your bank.

eNETS Debit

If you are making an online partial capital repayment, it is important that you receive our email notification that your submission is successful. You can then use 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)

Please ensure that you make your payment by the proposed date of partial capital repayment. Also, do note that you might need to adjust your maximum NETS usage limit with your bank.

Internet banking via bank's website

If you are making an online partial capital repayment, it is important that you receive our email notification that your submission is successful. The internet banking services are offered via the website of the participating banks:

  • DBS/ POSB
  • OCBC
  • UOB

Please ensure that you make your payment by the proposed date of partial capital repayment. Also, do note that you might need to adjust your daily limit with your bank.

Other Important information

  • There is no 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 application 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 the CPF Board if you require further clarification about this.

Redemption of HDB housing loan

For redemption of HDB housing loan, please give us 1 month’s advance notice in writing. The proposed date of redemption will be scheduled 1 month from the date we receive your application.

Online Redemption of HDB Housing Loan

You can use My HDBPage to submit your application to redeem your loan. Upon logging in, look under ‘My Flat > Purchased Flat > Financial Info > Other Related Services’.

Application Form for Redemption of HDB Housing Loan

To apply, simply download our Application Form for Redemption of Housing Loan, or visit the HDB Branch managing your flat for a copy. You can then submit or post the completed form to your managing HDB Branch.

After your application is processed, we will send you the CPF withdrawal form (if applicable), and your Redemption Statement. The Redemption Statement will show the total amount needed to redeem your outstanding housing loan. This includes the interest (up to the proposed date of redemption) and the Total Discharge of Mortgage (TDM) fees. 

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 (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

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 the end of the application/ online 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 the end of the application/ online submission month

R = Prevailing HDB housing loan interest rate (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

  • Application/ Online submission date: 15 June
  • Proposed redemption date (for N and M): 14 July
  • Outstanding housing loan (A): $105,000 (as at end-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 with our Mortgage Interest Calculator via My HDBPage. Upon logging in, look under 'My Flat > Purchased Flat > Financial Info > Other Related Services'.

Payment modes

Your redemption of HDB housing loan and TDM fees can be made using any of the following:

  • CPF
  • GIRO (if you are already using GIRO to pay your monthly housing loan instalments)
  • Cheque/ Cashier’s Order
  • eNETS Debit (participating banks)
  • Internet banking (participating banks)

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. To authorise the CPF Board to remit payment to HDB, you will need to complete and submit the CPF withdrawal form that we send to you.

Once you receive the form, please submit it to your managing HDB Branch within 10 working days. This will allow the CPF Board to remit the funds to us by the proposed date of redemption. If the CPF payment is remitted after the proposed date of redemption, your redemption amount will need to be recalculated.

As we will need to verify that you have sufficient CPF savings for the redemption of housing loan and/ or TDM fees, you can either:

  • Authorise us to obtain your CPF account information on your behalf (authorisation given by default in the CPF withdrawal form), or
  • Submit your latest CPF Statement together with the CPF withdrawal form. When doing so, please strike out the authorisation clause under Part IV of the CPF withdrawal form and sign next to that cancellation.

You can submit the CPF withdrawal form to your managing HDB Branch by post or in person.

If you are submitting the form in person, please bring along:

  • Your identity card
  • Latest CPF Statement of Account
If you are paying monthly instalments by CPF

Your CPF monthly deductions will automatically stop when we receive your application for redemption of housing loan. If the redemption is cancelled, you will need to give new monthly CPF deduction instructions using the CPF withdrawal form.

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

If you are making the redemption of housing loan by CPF for a resale or DBSS flat, do note that your total CPF withdrawals are subject to the Valuation Limit (VL), which is the lower of the purchase price or market valuation of your flat at the point of purchase.

If your total CPF withdrawals have reached the VL, and you are:

  • below 55 years old, you may continue to use your Ordinary Account (OA) savings to repay the housing loan after setting aside the current Basic Retirement Sum in your Special Account (including the amount used for investments) and OA.
  • 55 years old and above, you may continue to use you OA and Retirement Account (RA) savings in excess of the Basic Retirement Sum you need to set aside in cash. 

You may make use of the CPF Housing Withdrawal Limits Calculator at CPF Board's website to estimate when you will reach your flat's 100% VL and how much more CPF savings you can use above the VL.

To ensure successful deduction of CPF for redemption of housing loan, you are advised to check with the CPF Board that your total CPF withdrawal has not exceeded the VL before submitting your application form.  

Please note that different limits apply if you purchase a flat which has a remaining lease of less than 60 years. For more information, please contact the CPF Board at 1800-227-1188 or public-housing@cpf.gov.sg.

GIRO

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

GIRO deductions are made on the 28th of the month and posted to your housing loan account on the last day of the month. Your application form must reach us by the 22nd of the month for the deduction to be made in the same month. Otherwise, the deduction will only be made in the following month, with interest on the payment amount charged up to the end of that month. In such instances, your redemption amount may then need to be recalculated.

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.

Cheque/ Cashier’s Order

If you are making an online redemption, it is important that you receive an email notification that your submission is successful. Thereafter, 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

If you are making an online redemption, it is important that you receive our email notification that your submission is successful. You can then make 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. Also, do note that you might need to adjust your maximum NETS usage limit with your bank.

eNETS Debit

If you are making an online redemption, it is important that you receive our email notification that your submission is successful. You can then use 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)

Please ensure that you make your payment by the proposed date of redemption. Also, do note that you might need to adjust your maximum NETS usage limit with your bank.

Internet banking via bank's website

If you are making an online redemption, it is important that you receive our email notification that your submission is successful. The internet banking services are offered via the website of the participating banks:

  • DBS/ POSB
  • OCBC
  • UOB

Please ensure that you make your payment by the proposed date of redemption. Also, do note that you might need to adjust your daily limit with your bank.

Other important information

  • Housing loan interest will be charged up to and inclusive of the date we receive the redemption amount. If the payment is not received by the proposed date of redemption, the amount payable for the redemption will be recalculated to include the additional interest.
  • Your application 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/ cheque.

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

  • CPF via My HDBPage
  • GIRO via My HDBPage
  • eNETS Debit (participating banks)
  • Internet banking (participating banks)
  • AXS payment channels [AXS Station (self-service kiosk, AXS e-Station (on desktop), AXS m-Station (on mobile)]
  • Cash/ NETS/ cheque at the HDB Branch managing your flat

Cheque payment

Please make your crossed cheque payable to 'Housing & Development Board'. On the reverse of the cheque, please write your:

  • Name
  • Address
  • Telephone number
  • HDB reference number
  • Purpose of payment, i.e. ‘housing loan arrears’

You can also mail the cheque to the HDB Branch managing your flat. No receipt will be issued for cheque payments by post.

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 calculation for late payment charge

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.

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.