The Cap
Total monthly debt repayments cannot exceed 55% of gross monthly income on a property loan from a bank, merchant bank or finance company.
Singapore Property Finance
TDSR Calculator
Work out your Total Debt Servicing Ratio against the 55% cap, and see the property loan that ratio supports.
Enter your income and existing commitments to see your current ratio, the monthly headroom left under the 55% cap and an indicative maximum loan at the medium-term rate floor. If the ratio is what is holding your financing back, read how our TDSR loans in Singapore are structured against property value instead of income.
Calculator
Check Your TDSR
Banks count 70% of bonus, commission and rental income.
Home loans, car loan, personal loans and credit card minimums.
Property type
Your TDSR
33.3%
You are within the MAS limit. Banks can count up to S$3,705 a month in new loan repayments.
You could borrow up to about
S$701,921
over 25 years, assessed at 4% a year.
Indicative only, not financial advice.
How this is calculated
- Assessable monthly income
- S$17,100
- Limit at 55%
- S$9,405
- Existing monthly repayments
- S$5,700
- Monthly headroom
- S$3,705
Income. Fixed salary counts in full, gross of tax and excluding employer CPF. Bonus, commission, allowances and rental income count at 70%, after a haircut of at least 30%. Your S$3,000 of other income counts as S$2,100.
Debt. Every monthly repayment counts: home loans, car loans, personal, renovation and study loans, credit card minimums, and any other secured or unsecured borrowing, including facilities where you are a joint borrower or guarantor.
The limit. Total repayments cannot exceed 55% of assessable income on a property loan from a bank, merchant bank or finance company. That threshold has applied since 16 December 2021.
The rate. The repayment on a new loan is sized at a medium-term floor of 4% a year for residential property or 5% for non-residential, or at the loan thereafter rate where that is higher. Those floors have applied since 30 September 2022. Existing property loans count at their actual repayment.
The loan figure. Your monthly headroom is treated as the repayment on a level instalment loan and discounted back to a present value: loan = headroom x (1 minus (1 plus i) to the power of minus n), divided by i, where i is the annual floor rate divided by 12 and n is the tenure in months.
Tenure. Housing loan tenure is capped at 35 years for non-HDB property and 30 years for HDB flats. A lower loan-to-value limit applies once the tenure passes 30 years (25 for HDB flats) or the loan runs beyond age 65.
A lender applies its own credit policy, may use a larger income haircut than the regulatory minimum, and separately applies loan-to-value and age limits. Your figures stay in your browser and are not sent to Rikvin Capital unless you contact us.
The Rules
TDSR in Three Numbers
Income Haircut
Bonus, commission, allowances and rental income are cut by at least 30% before they count. Fixed salary counts in full.
Stress-Test Rate
The repayment on a new loan is sized at a medium-term rate floor: 4% a year for residential property, 5% for non-residential.
Questions
TDSR Calculator FAQs
What is TDSR in Singapore?
The Total Debt Servicing Ratio is a Monetary Authority of Singapore rule that limits your total monthly debt repayments to 55% of your gross monthly income when you take a property loan from a MAS-regulated financial institution. It has applied to property loans at the 55% level since 16 December 2021, and it covers residential and non-residential property, purchases, loans secured on property and refinancing.
How is TDSR calculated?
Add up every monthly debt repayment, divide by your gross monthly income and express the result as a percentage. Income is adjusted first: fixed salary counts in full, while variable and rental income are reduced by at least 30%. The repayment on the loan you are applying for is calculated at a medium-term interest rate floor of 4% a year for residential property or 5% for non-residential, or at the loan thereafter rate if that is higher, rather than at a promotional headline rate.
What income counts toward TDSR?
Fixed monthly income such as basic salary counts in full, taken gross of tax and excluding employer CPF contributions. Variable income such as bonus, commission and allowances is normally averaged over the preceding 12 months and then reduced by a haircut of at least 30%. Rental income takes the same haircut and generally requires a stamped tenancy agreement with at least six months remaining. Eligible financial assets can be converted into an income stream over a 48-month period, with their own haircuts depending on the asset and whether it is pledged.
What debts are included in the TDSR calculation?
All outstanding debt obligations are included: property loans, car loans, student loans, renovation loans, credit card repayments, other secured and unsecured borrowing including revolving facilities, and the new loan being applied for. Unsecured revolving credit is taken at the minimum sum due on the latest statement, and a secured revolving facility is assessed on the amount drawn down.
Capped by TDSR? Speak to a Direct Lender
Share your scenario and our Singapore team will come back with indicative terms for an asset-backed facility.