Financial Assistance Measures

As a safety net, we have Financial Assistance Measures (FAM) in place for flat owners who face difficulties paying the monthly instalments of their HDB housing loan.

Possible measures to help you

If you find yourself in financial hardship, these options may be available to you:

  • Paying the housing loan arrears by instalments within a reasonable period.
  • Lowering the monthly instalment amount by extending the housing loan term up to the maximum repayment period, subject to your eligibility and the 65-year-old age ceiling.
  • Deferring or reducing monthly loan instalments for 6 months. This is to help flat owners facing short term difficulties in servicing their loan instalments.
  • Inclusion of working family members as joint owners to help pay for the flat loan instalment / arrears. 

For more information, please approach any HDB Branch, or call the toll-free Branch Service Line at 1800-225-5432.

Monthly interest on the loan

During the assistance period, monthly interest will continue to accrue on the outstanding loan balance. It is therefore best to revert to the normal instalments as soon as your financial position improves.

Long-term options to consider

The FAMs are temporary measures to help you tide over short-term periods of financial hardship. If the measures do not improve the situation, we recommend considering other long-term options like:

How to apply for assistance

To apply, please visit the HDB Branch managing your flat with the following documents:

  • Identity cards of all flat owners
  • Latest payslip or income letters of all flat owners and permitted occupiers. A Statutory Declaration of income status is required for those who are unemployed, self-employed, or without an income letter or payslip. You can make the Statutory Declaration at the HDB Branch
  • Latest CPF Statement of Account, or authorise us to enquire on your CPF Ordinary Account balance online with the CPF Board
  • Copies of outstanding bills (e.g. medical fees, utilities, service and conservancy charges, credit card payments, renovation loan documents, etc.)
  • Any other documentary proof of financial hardship to support the application.

Assistance is granted based on the merits of each case.

There is no administrative fee payable for application for FAMs.

Important points to note

  • All the flat owners must sign the financial assistance application form
  • During the assistance period, monthly interest continues to accrue on the outstanding loan balance
  • Flat owners may have to pay a higher monthly loan instalment after the expiry of the assistance scheme
  • Should there be any revision in the HDB housing loan interest rate, the monthly instalment amount will be adjusted

Options for households in arrears for housing loan taken from FIs

Flat owners who have taken a housing loan from a Financial Institution (FI) and are facing difficulties in repaying their loan instalments are advised to consider the following options:

  • Approach the FI early to work out viable repayment options to resolve mortgage arrears
  • Refinance the loan with another FI offering a more manageable interest rate
  • Rent out spare bedroom(s) to generate additional income
  • Include working family members as joint owners to help pay for the loan instalment/ arrears
  • Sell the existing flat and right-size to a more affordable flat
For more information, please refer to the Association of Banks in Singapore (ABS)’s website under Consumer Banking > Consumer Guide > Home Loans.