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<p>You must meet the <a href="/buying-a-flat/flat-grant-and-loan-eligibility">eligibility conditions</a> to buy an HDB flat and obtain a valid <a href="/buying-a-flat/flat-grant-and-loan-eligibility/application-for-an-hdb-flat-eligibility-hfe-letter">HDB Flat Eligibility (HFE) letter</a> before you may apply to buy a flat from HDB or before you obtain an Option to Purchase (OTP) from a flat seller. A valid HFE letter is required when both you and the seller submit the resale application to HDB.</p>
<p>Your eligibility for the SHB will be assessed at the point of SHB application.</p>
<table style="width: 100%;">
    <thead>
        <tr>
            <th style="width: 25%;">Criteria</th>
            <th style="width: 75%;">Eligibility</th>
        </tr>
    </thead>
    <tbody>
        <tr>
            <td><strong>Citizenship</strong></td>
            <td>At least 1 owner must be a Singapore Citizen (SC)</td>
        </tr>
        <tr>
            <td><strong>Age</strong></td>
            <td>The SC is aged 55 or above</td>
        </tr>
        <tr>
            <td><strong>Gross monthly household income</strong></td>
            <td>$14,000 or less</td>
        </tr>
        <tr>
            <td><strong>Existing property</strong></td>
            <td>
            <p>HDB flat (met <a rel="noopener noreferrer" href="/buying-a-flat/bto-sbf-and-open-booking-of-flats/conditions-after-buying-a-new-flat?anchor=mop" target="_self">minimum occupation period</a> for resale) or a private residential property with an Annual Value (AV) of up to $31,000 </p>
            </td>
        </tr>
        <tr>
            <td><strong>Ownership or interest in other property</strong></td>
            <td>You must not concurrently:
            <ul>
                <li>Own or have interest in a private residential property</li>
                <li>Own or have interest in more than 1 non-residential property</li>
            </ul>
            </td>
        </tr>
        <tr>
            <td><strong>Next property you are buying</strong></td>
            <td>
            <ul>
                <li>3-room (excluding 3-room terrace)</li>
                <li>2-room or smaller flat, including Community Care Apartment</li>
            </ul>
            </td>
        </tr>
        <tr>
            <td><strong>Net sale proceeds</strong></td>
            <td>
            <p>You must have positive net sale proceeds.</p>
            <p>Sale proceeds is the selling price of existing residential property less the following:</p>
            <ol style="list-style-type: lower-roman;">
                <li>Any outstanding housing loan on the existing residential property</li>
                <li>Purchase price of the next flat</li>
                <li>Resale levy payable (if applicable)</li>
                <li>Subsidy recovery (if applicable) for Plus and Prime<sup>[1]</sup> flats</li>
            </ol>
            <p class="Footnote">[1] Including Prime Location Public Housing (PLH) flats</p>
            </td>
        </tr>
        <tr>
            <td><strong>Timeframe between the housing transactions</strong>
            </td>
            <td>
            <p>Booking of new HDB flat, or submission of flat application to buy resale flat must either be:</p>
            <ul>
                <li>Before sale of existing residential property</li>
            </ul>
            <p style="margin-top: 0px;">or</p>
            <ul>
                <li>
                Within 12 months of completing the sale of the existing residential property</li>
            </ul>
            </td>
        </tr>
        <tr>
            <td><strong>Timeframe to submit SHB application</strong></td>
            <td>
            <p>You will be informed of the SHB application procedure during the completion appointment of your second housing transaction (sale or purchase).</p>
            <p>You must submit your application for SHB <strong>within 1 year</strong> from the legal completion date of the second housing transaction (sale or purchase).</p>
            </td>
        </tr>
    </tbody>
</table>

Eligibility conditions 

<p>To qualify for SHB, you need to commit to a net increase of up to $60,000<sup>[1]</sup> in your CPF RA after right-sizing, with the sum going towards your retirement payouts. You can do so using your CPF housing refunds<sup>[2]</sup>, if sufficient, and may no longer need to make the top-up in cash.</p>
<p class="Footnote">[1] The net increase to commit in your CPF RA depends on the net sale proceeds and is capped at $60,000 per household. It is further capped by the prevailing Full Retirement Sum (FRS).</p>
<p class="Footnote">[2] CPF principal amount withdrawn to purchase a property and the accrued interest that needs to be refunded after selling the property.</p>

Required net increase in your CPF Retirement Account

<p>You can receive an SHB amount of $30,000 per household if you commit to a net increase of $60,000 in your CPF RA after right-sizing. If the amount committed is less than $60,000, you will receive a pro-rated cash bonus.</p>
<p>You can qualify for an additional $10,000 cash bonus if you right-size to a 2-room or smaller flat, including a Community Care Apartment (CCA). This additional $10,000 bonus applies regardless of the amount you commit to your CPF RA.</p>
<p>Overall, the maximum SHB amount that eligible seniors may receive is $40,000. Refer to the following table for the SHB amounts and coverage.</p>
<table style="width: 100%;">
    <thead>
        <tr>
            <th style="width: 20%;">Existing Property</th>
            <th style="width: 20%;">Next Property You Are Buying</th>
            <th>SHB Amount</th>
            <th style="width: 20%;">Maximum SHB Amount</th>
        </tr>
    </thead>
    <tbody>
        <tr>
            <td rowspan="2">
            <ul>
                <li><strong>HDB flat</strong></li>
                <li><strong>Private residential property with AV $21,000 or less</strong></li>
            </ul>
            </td>
            <td>
            <p>3-room flat (excluding 3-room terrace)</p>
            </td>
            <td>
            <p>Up to $30,000<sup>[1]</sup></p>
            </td>
            <td>
            <p>$30,000
            </p>
            </td>
        </tr>
        <tr>
            <td>
            <p>2-room or smaller flat, including CCA</p>
            </td>
            <td>
            <ul>
                <li>Up to $30,000<sup>[1]</sup></li>
                <li>Additional $10,000 (not pro-rated) for right-sizing to a 2-room or smaller flat, including CCA</li>
            </ul>
            </td>
            <td>$40,000</td>
        </tr>
        <tr>
            <td rowspan="2"><strong>Private residential property with AV between $21,000 and $31,000</strong></td>
            <td>
            <p>3-room flat (excluding 3-room terrace)</p>
            </td>
            <td>Up to $10,000<sup>[2]</sup></td>
            <td>$10,000</td>
        </tr>
        <tr>
            <td>
            <p>2-room or smaller flat, including CCA</p>
            </td>
            <td>
            <ul>
                <li>Up to $10,000<sup>[2]</sup></li>
                <li>Additional $10,000 (not pro-rated) for right-sizing to a 2-room or smaller flat, including CCA</li>
            </ul>
            </td>
            <td>$20,000</td>
        </tr>
    </tbody>
</table>
<p class="Footnote">[1] With cash bonus pro-rated at $1 bonus for every $2 committed towards CPF RA for retirement payouts<br />
[2] With cash bonus pro-rated at $1 bonus for every $6 committed towards CPF RA for retirement payouts</p>

Your Silver Housing Bonus amount

<p>Mr and Mrs Tan are selling their subsidised 5-room flat in Yishun for $705,000 and buying a new 3-room flat in Woodlands for $275,000. </p>
<p>If they commit a combined amount of $60,000 from their CPF housing refunds towards their CPF RA for their retirement payouts, they will enjoy an SHB of $30,000 <strong>with no cash top-up</strong>.</p>
<table style="width: 100%;">
    <thead>
        <tr>
            <th style="width: 50%;"></th>
            <th style="width: 50%;">Proceeds From Right-Sizing</th>
        </tr>
    </thead>
    <tbody>
        <tr>
            <td><strong>Selling price of current 5-room flat</strong></td>
            <td>$705,000</td>
        </tr>
        <tr>
            <td>Outstanding loan for current 5-room flat</td>
            <td>- $100,000</td>
        </tr>
        <tr>
            <td>Purchase price of 3-room flat</td>
            <td>- $275,000</td>
        </tr>
        <tr>
            <td>Resale levy payable</td>
            <td>- $45,000</td>
        </tr>
        <tr>
            <td><strong>Net proceeds</strong></td>
            <td><strong>$285,000</strong></td>
        </tr>
    </tbody>
</table>
<table style="width: 100%;">
    <thead>
        <tr>
            <th colspan="3">SHB Application </th>
        </tr>
        <tr>
            <th style="width: 44%;"> </th>
            <th style="width: 28%;">Mr Tan's CPF RA</th>
            <th style="width: 28%;">Mrs Tan's CPF RA</th>
        </tr>
    </thead>
    <tbody>
        <tr>
            <td><strong>CPF housing refund credited to CPF RA from sale of 5-room flat</strong><br />
            </td>
            <td>$40,000</td>
            <td>$20,000</td>
        </tr>
        <tr>
            <td>
            <p><strong>CPF housing refund in CPF RA committed towards retirement payouts</strong></p>
            <p><em>Mr and Mrs Tan are required to commit to a net increase of $60,000 to their CPF RA for their retirement payouts as a household</em></p>
            </td>
            <td>$40,000</td>
            <td>$20,000</td>
        </tr>
        <tr>
            <td><strong>Additional cash top-up</strong></td>
            <td colspan="2">
            <p><strong>No cash top-up needed</strong></p>
            <p>Mr and Mrs Tan have committed to a net increase of $60,000 in their CPF RA for their retirement payouts, using their CPF housing refund</p>
            </td>
        </tr>
    </tbody>
    <thead>
        <tr>
            <th></th>
            <th>Mr Tan&rsquo;s Cash Bonus</th>
            <th>Mrs Tan&rsquo;s Cash Bonus</th>
        </tr>
    </thead>
    <tbody>
        <tr>
            <td>
            <p><strong>Cash bonus (pro-rated)</strong></p>
            <p><em>$1 cash bonus for every $2 committed towards retirement payouts</em></p>
            </td>
            <td>$20,000</td>
            <td>$10,000</td>
        </tr>
        <tr>
            <td><strong>Combined total cash bonus</strong></td>
            <td colspan="2"><strong>$30,000</strong></td>
        </tr>
    </tbody>
</table>

Example 1 : Senior couple right-sizing to a 3-room flat

<div>
<p>Mr and Mrs Bala are selling their subsidised 5-room flat in Yishun for $705,000 and buying a new 2-room Flexi flat (on a 30-year lease) in Woodlands for $83,000. </p>
<p>As they are right-sizing to a 2-room Flexi flat and committing a combined amount of $60,000 from their CPF housing refunds towards their CPF RA for their retirement payouts, they will enjoy a higher SHB of $40,000 <strong>with no cash top-up</strong>.</p>
<table style="width: 100%;">
    <thead>
        <tr>
            <th style="width: 50%;"></th>
            <th style="width: 50%;">Proceeds From Right-Sizing</th>
        </tr>
    </thead>
    <tbody>
        <tr>
            <td><strong>Selling price of current 5-room flat</strong></td>
            <td>$705,000</td>
        </tr>
        <tr>
            <td>Outstanding loan for current 5-room flat</td>
            <td>- $100,000</td>
        </tr>
        <tr>
            <td>Purchase price of 2-room Flexi flat (30-year lease)</td>
            <td>- $83,000</td>
        </tr>
        <tr>
            <td>Resale levy payable</td>
            <td>- $15,000</td>
        </tr>
        <tr>
            <td><strong>Net proceeds</strong></td>
            <td><strong>$507,000</strong></td>
        </tr>
    </tbody>
</table>
</div>
<table style="width: 100%;">
    <thead>
        <tr>
            <th colspan="3">SHB Application </th>
        </tr>
        <tr>
            <th style="width: 44%;"> </th>
            <th style="width: 28%;">Mr Bala&rsquo;s CPF RA</th>
            <th style="width: 28%;">Mrs Bala&rsquo;s CPF RA</th>
        </tr>
    </thead>
    <tbody>
        <tr>
            <td><strong>CPF housing refund credited to CPF RA from sale of 5-room flat</strong><br />
            </td>
            <td>$40,000</td>
            <td>$30,000</td>
        </tr>
        <tr>
            <td>
            <p><strong>CPF housing refund in CPF RA committed towards retirement payouts</strong></p>
            <p><em>Mr and Mrs Bala are required to commit to a net increase of $60,000 to their CPF RA for their retirement payouts as a household</em></p>
            </td>
            <td>$30,000</td>
            <td>$30,000</td>
        </tr>
        <tr>
            <td><strong>Additional cash top-up</strong></td>
            <td colspan="2">
            <p><strong>No cash top-up needed</strong></p>
            <p>Mr and Mrs Bala have committed to a net increase of $60,000 in their CPF RA for their retirement payouts, using their CPF housing refund</p>
            </td>
        </tr>
    </tbody>
    <thead>
        <tr>
            <th></th>
            <th>Mr Bala&rsquo;s Cash Bonus</th>
            <th>Mrs Bala&rsquo;s Cash Bonus</th>
        </tr>
    </thead>
    <tbody>
        <tr>
            <td>
            <p><strong>Cash bonus (pro-rated)</strong></p>
            <p><em>$1 cash bonus for every $2 committed towards retirement payouts</em></p>
            </td>
            <td>$15,000</td>
            <td>$15,000</td>
        </tr>
        <tr>
            <td>
            <p><strong>Additional cash bonus of $10,000 (not pro-rated) for right-sizing to a 2-room Flexi flat (30-year lease)</strong></p>
            <p><em>Based on proportion of homeowners&rsquo; amount committed towards retirement payout</em></p>
            </td>
            <td>$5,000</td>
            <td>$5,000</td>
        </tr>
        <tr>
            <td>
            <p><strong>Individual total cash bonus</strong></p>
            </td>
            <td>$20,000</td>
            <td>$20,000</td>
        </tr>
        <tr>
            <td><strong>Combined total cash bonus</strong></td>
            <td colspan="2"><strong>$40,000</strong></td>
        </tr>
    </tbody>
</table>

Example 2 - Senior couple right-sizing to a 2-room Flexi flat

<p>Mr Ahmad and Mdm Siti are selling their private property with an annual value (AV) of $25,000 in Yishun for $970,000 and buying a 2-room Flexi flat (on a 30-year lease) in Woodlands for $83,000.</p>
<p><strong>They will qualify for the SHB</strong> if they commit a combined amount of $60,000 from their CPF housing refunds towards their CPF RA for their retirement payouts. They will enjoy an SHB of $20,000 <strong>with no cash top-up</strong>.</p>
<table style="width: 100%;">
    <thead>
        <tr>
            <th style="width: 50%;"></th>
            <th style="width: 50%;">Proceeds From Right-Sizing</th>
        </tr>
    </thead>
    <tbody>
        <tr>
            <td><strong>Selling price of current private property</strong></td>
            <td>$970,000</td>
        </tr>
        <tr>
            <td>Outstanding loan for current private property</td>
            <td>No outstanding loan</td>
        </tr>
        <tr>
            <td>Purchase price of 2-room Flexi flat (30-year lease)</td>
            <td>- $83,000</td>
        </tr>
        <tr>
            <td>Resale levy payable</td>
            <td>- $15,000</td>
        </tr>
        <tr>
            <td><strong>Net proceeds</strong></td>
            <td><strong>$872,000</strong></td>
        </tr>
    </tbody>
</table>
<table style="width: 100%;">
    <thead>
        <tr>
            <th colspan="3" style="text-align: center;">SHB Application</th>
        </tr>
        <tr>
            <th style="width: 44%;"> </th>
            <th style="width: 28%;">Mr Ahmad's CPF RA</th>
            <th style="width: 28%;">Mdm Siti's CPF RA</th>
        </tr>
    </thead>
    <tbody>
        <tr>
            <td><strong>CPF housing refund credited to CPF RA from sale of private property </strong><br />
            </td>
            <td>$80,000</td>
            <td>$60,000</td>
        </tr>
        <tr>
            <td>
            <p><strong>CPF housing refund in CPF RA committed towards retirement payouts</strong></p>
            <p><em>Mr Ahmad and Mdm Siti are required to commit to a net increase of $60,000 to their CPF RA for their retirement payouts as a household</em></p>
            </td>
            <td>$30,000</td>
            <td>$30,000</td>
        </tr>
        <tr>
            <td><strong>Additional cash top-up</strong></td>
            <td colspan="2">
            <p><strong>No cash top-up needed</strong></p>
            <p>Mr Ahmad and Mdm Siti have committed to the net increase of $60,000 to their CPF RA for their retirement payouts, using their CPF housing refund
            </p>
            </td>
        </tr>
    </tbody>
    <thead>
        <tr>
            <th></th>
            <th>Mr Ahmad's Cash Bonus</th>
            <th>Mdm Siti's Cash Bonus</th>
        </tr>
    </thead>
    <tbody>
        <tr>
            <td>
            <p><strong>Cash bonus (pro-rated)</strong></p>
            <p><em>$1 cash bonus for every $6 committed towards retirement payout</em></p>
            </td>
            <td>$5,000</td>
            <td>$5,000</td>
        </tr>
        <tr>
            <td>
            <p><strong>Additional cash bonus of $10,000 (not pro-rated) for right-sizing to a 2-room Flexi flat (30-year lease)</strong></p>
            <p><em>Based on proportion of homeowners&rsquo; amount committed towards retirement payout</em></p>
            </td>
            <td>$5,000</td>
            <td>$5,000</td>
        </tr>
        <tr>
            <td>
            <p><strong>Individual total cash bonus</strong></p>
            </td>
            <td>$10,000</td>
            <td>$10,000</td>
        </tr>
        <tr>
            <td><strong>Combined total cash bonus</strong></td>
            <td colspan="2"><strong>$20,000</strong></td>
        </tr>
    </tbody>
</table>

Silver Housing Bonus

Recommended

Flat, Grant, and Loan Eligibility

Application for an HDB Flat Eligibility (HFE) Letter