1. Personal
  2. BORROW
  3. Property
  4. Mortgage Options
  5. HDB Home Loan

HDB Home Loan

  • Secure your dream home quickly with
    an instant HDB Home Loan approval*

    *Terms and conditions apply.

  • Calculate, valuate and secure your HDB home loan instantlyCalculate, valuate and secure your HDB home loan instantly

    Calculate, valuate and secure your HDB home loan instantly

    A simple way to secure your dream home online with UOB Home Solution

    Find out more
  • SORASORA

    Home with SORA

    Welcome to the UOB 3-Month Compounded SORA Home Loan package that gives you better control of your finances.

    SORA

    Find out more

Overview

Enjoy a total home solution with us. Our HDB Home Loan is designed to give you competitive interest savings, flexibility, convenience and a host of other benefits to answer your every need.

Why take up a UOB HDB Loan?

Potential savings
Save on interest payment through a promotional interest rate and receive cash rebate of S$2,000* when you refinance
Flexible terms
Enjoy a free package conversion after the loan lock-in period.
Same day approval and acceptance
With UOB Instant Home loan approval1, you can get an in principle approval online within minutes, in the comfort of your home. What's more, with the UOB Home Solution suite of tools, you can get instant credible valuation2 with the UOB Instant Valuation tool or determine the home loan amount you can afford with our Affordability Calculator.

UOB Home Solution for your HDB Home Loan

*T&Cs apply
1Instant approval refers to a conditional approval for a UOB Property Loan, and is granted based on the information provided by the applicant. It is processed and approved by UOB, and is subject to the applicable terms and conditions, including the necessary documentation verification and completion.
2The indicative value is based on real-time proprietary data of CKS Property Consultants Pte Ltd, publicly available information and other third party sources. We do not warrant the accuracy or completeness of the information and valuations.

Promotion

UOB HDB Home Loan Online Exclusive

Settle into your home comfortably with our attractive home loan package. Enjoy interest savings through a promotional interest rate, cash rebate of S$2,000* when you refinance, and enjoy a free package conversion after the loan lock-in period. Terms and conditions apply.

Plus, here’s a little sweetener - apply online now and receive an exclusive gift* from us upon your home loan acceptance. For a very limited time only, so get yours today.

Loan amount granted to Eligible Applicant(s)
as reflected on Letter of Offer		 Your Gift
S$250,000.00 to less than S$350,000.00 1 unit of Ecovacs Deebot U2 Pro Robotic Vacuum Cleaner worth S$399
At least S$350,000.00 1 unit of Novita Countertop Water Purifier NP313 worth S$699

Ends 30 June 2022. While stocks last. UOB may vary, suspend, or terminate this Promotion without notice. Terms and conditions apply.

Benefits

Secure your dream home with UOB HDB Home Loan and enjoy greater savings along the way
Pay less interest, compared to the HDB Concessionary Loan.

  HDB Concessiary Loan UOB Home Loan
Interest Rate CPF OA +0.1% = 2.6% Fixed and Variable rates available
Current 2-Year Fixed Rate is 1.45% p.a.


Other benefit:

  HDB Concessiary Loan UOB Home Loan
Flat Buyer who has a previous HDB concessionary loan The quantum for the 2nd HDB concessionary housing loan will be reduced by the CPF monies refunded and up to 50% of the cash proceeds from the disposal of the existing or previously owned HDB flat. The determination of the Bank loan quantum will not be subject to the cash proceeds received from the disposal of the existing or previously owned HDB flat.

 

An illustration
Joe has a HDB Loan of S$200,000 with a 20-year loan tenor. His monthly instalment is S$1,069.58.
With a 2-year fixed rate UOB HDB Loan, he will only pay S$960.50 monthly instalment which means S$109.08 in monthly savings. That equates to S$4,455.28 savings over two years!

Home Loan Packages

Choose from our wide range of loan packages to suit your financing needs.
Enjoy flexible options to pay down your loan partially or customise your loan to ensure you get the most out of it.

  2 Year Fixed Rate Floating Rate SORA
Special Features
  • 1 free conversion after 24 months from the date of first disbursement.
  • Flexibility to prepay your loan / sell your property.
  • Flexibility to prepay your loan / sell your property.
  • 1 free conversion if ML increases during the lock-in period.
  • Flexibility to prepay your loan.
  • 1 free conversion after 12 months from the date of first disbursement.
Year 1 1.45% p.a. (fixed) ML + 0.65% p.a. 3M Compounded SORA + 0.98% p.a.
Year 2 1.45% p.a. (fixed) ML + 0.65% p.a. 3M Compounded SORA + 0.98% p.a.
Year 3 3M Compounded SORA + 1.29% p.a. ML + 0.65% p.a. 3M Compounded SORA + 1.40% p.a.
Year 4 and thereafter 3M Compounded SORA + 1.60% p.a. ML + 0.65% p.a. 3M Compounded SORA + 1.40% p.a.
Lock in period 2 years 2 years 2 years
Other benefits Submit your application online & our banker will be in touch with you to share more on our limited time promotional offers. Valid only for direct applications without third party referrals. T&Cs apply.
Additional notes Promotional rates are available for a limited period and only valid for completed residential properties in Singapore, for your new purchase or refinancing from another bank/HDB. Subject to minimum loan size.
Rate for Year 3 & thereafter is pegged to the 3-month Compounded SORA that is published on MAS' website. It is currently at 0.1715% p.a. (as at 17 Dec 2021). Find out more on SORA. Pegged to the Bank’s Board Rate that is calculated based on factors affecting the Bank's cost of business which include but are not limited to market rates, funding costs, credit costs, and acquisition costs. The current ML is at 0.85% p.a. Pegged to the 3-month Compounded SORA that is published on MAS' website.  It is currently at 0.1715% p.a. (as at 17 Dec 2021). Find out more on SORA.

 

3M Compounded SORA refers to the 3-Month Compounded SORA that is published on MAS’ website.  It is currently at 0.1715% p.a. (as at 17 Dec 2021). Find out more on SORA.

  • Above rates quoted are indicative and valid for completed residential properties in Singapore, for new purchase or refinancing from another bank/HDB.
  • Rates are subject to min. loan size.
  • Rates and benefits will only be confirmed upon issuance of Letter of offer. The Letter of Offer shall contain such terms and conditions as UOB may require in relation to each property loan.
  • Rates and benefits are subject to changes without prior notice.

Submit your loan application online now and our banker will be in touch with you to share more about exclusive home loan rates and promotions available.

Apply Now

Aligned to market best practices.

SORA (Singapore Overnight Rate Average) has been selected as the new interest rate benchmark in Singapore.

How does a 3-Month Compounded SORA work?

Illustration of 3-Month Compounded SORA

The 3-Month Compounded SORA is updated every 3 months.

 

 

D% and E% are 3-Month Compounded* SORA published by MAS on 4 Mar 2021 and 4 Jun 2021 respectively.

 

Find out more on how SORA works here

 

*Further reading material on use of SORA in financial contracts:
Association of Banks Singapore, SIBOR REFORM AND THE FUTURE LANDSCAPE FOR SGD INTEREST RATE BENCHMARKS, 29 July 2020 https://abs.org.sg/docs/library/sibor-reform-and-the-future-landscape-for-sgd-interest-rate-benchmarks.pdf

 
Show less

Apply Now

NEW! Secure your desired property with our Instant Home Loan approval1.

Apply Online

 

For Singaporeans and PRs:
Click on "APPLY NOW" to apply for a new UOB Home Loan with forms pre-filled by retrieving your personal information with MyInfo. Applications submitted between 8.30am to 9pm daily will be processed instantly. Applications received outside these times will be processed the next working day.  

For Foreigners and U.S. Persons:
Please leave us with your details so we can contact and assist you.

*Terms and Conditions:

  • This Promotion is not valid with third party referrals. Letters of offer issued by UOB in connection with the UOB HDB Home Loan have to be accepted within the campaign period of 1 January 2022 to 30 June 2022.
  • UOB may vary or suspend or terminate this Promotion without notice. Full terms and conditions apply; please see T&Cs.

Other Commonly Asked Questions

Items  
Down Payment Down payment is the amount you need to pay when you subtract your home loan amount (which is subjected to regulatory limit and bank’s credit assessment) from your property purchase price. This can be payable through cash (subject to minimum regulatory amount) or a combination of cash and your CPF savings.
Total Debt Servicing Ratio (TDSR) Banks must take into consideration all outstanding debt obligations when granting a housing loan to you. This is known as the TDSR and it is calculated based on your monthly total debt obligations over your gross monthly income. You are generally not allowed to borrow above the TDSR threshold, which is set at a maximum of 60 per cent of your monthly income.
Mortgage Servicing Ratio (MSR) limit The MSR limit caps the monthly mortgage installments at a percentage of your gross monthly income when you apply for a housing loan for the purchase of an executive condominium (EC) directly from a property developer or for any HDB flat. To calculate your MSR, you need to divide your monthly mortgage installments by your gross monthly income. The MSR limit is currently set at 30 per cent.
Resale Levy If you previously bought a new flat from HDB, a Design, Build and Sell Scheme (DBSS) flat or Executive Condominium (EC) from a developer or received a CPF Housing Grant, you will need to pay the resale levy if:
(a) You sell your subsidised flat and then buy a second subsidised flat from HDB; or
(b) You sell your subsidised flat and then buy an EC from a developer where the land sale was launched on or after 9 December 2013.
Buyer's Stamp Duty (BSD) and Additional Buyer's Stamp Duty (ABSD) Stamp duty is imposed on documentation involving transfer of property from one party to another.
There are two types of stamp duties:
Buyer’s Stamp Duty is applicable for the purchase of properties including residential and commercial properties. Additional Buyer’s Stamp Duty is applicable for the purchase of residential properties. Refer to the IRAS website (www.iras.gov.sg) to find out the applicable rates.
Property Tax All property owners in Singapore must pay property tax. The amount of tax payable is based on the annual value of the property which is determined by the IRAS. It is usually based on the gross rental of the property per year minus costs such as maintenance and other taxes.
Insurance Cost Most banks require homeowners to protect their property in the event of fires or flooding.
Customers may also opt to take up mortgage protection insurance (also commonly known as Mortgage Reducing Term Assurance or MRTA) to cover their loan liability and to hedge against unforeseen circumstances.
Conveyancing Fee These are legal fees for professional services such as conveyancing and the registration of land titles and deeds.
It is paid to a lawyer to carry out the above and the necessary background checks on the property. The fees also include paying for the law firm acting for the bank in the loan. To reduce conveyancing costs, you may wish to consider having the same law firm acting for your purchase and also in the loan conveyancing matters representing you and the bank. However, before you do this please ensure the law firm is on the bank’s approved panel if you wish to use the same law firm to act for the bank.
Valuation Fee For HDB Resale:
Buyers of HDB resale flats have to submit valuation request to the Housing & Development Board ("HDB"). The value provided by HDB is to be used in determining a buyer's housing loan quantum and amount of CPF usage for the purchase of HDB resale flat. You are required to pay HDB S$120* (GST inclusive) being the processing fee for each of such request for valuation from HDB.
*accurate as at 21 Dec 2020

For HDB Refinancing:
A valuation report is required by the bank for you to refinance the property. The valuation report is provided by a professional valuation firm, which is appointed by the bank. The fee for the report will vary depending on the value of the property.
Agent Commission You will have to factor the agent's fee, which is computed based on a percentage of the purchase price if you have engaged a property agent to help you purchase the property. This commission is usually 1% of the property’s purchase price.

Home ownership is a long-term commitment that requires you to set aside a significant sum of money as a deposit and to then make regular mortgage repayments over the tenor of the loan. Before you decide to upgrade to a larger or private property, you should speak to your bank to confirm how much you can borrow to upgrade to a new property.

For example, the maximum home loan quantum that you can borrow from a bank is determined by the Loan-to-Value ratio or LTV. The LTV considers three factors – the loan tenor, your age and the number of outstanding home loans you have. However, there is an exception if you are upgrading from your HDB flat. In such cases, the outstanding home loan on your HDB flat will not affect the maximum home loan amount for the new property as long as you can provide the necessary documentation to show that your flat has been sold. These include a copy of the approval letter by HDB and a copy of the Borrower’s letter of undertaking to complete the sale of the existing HDB flat.

With these documents, your bank can provide you with an In-Principle Approval so that you can have certainty on your eligible loan amount and monthly mortgage repayment amount. This will help guide you to determine the down payment amount needed to purchase a new property and if you can commit to the monthly mortgage repayments.

With UOB Instant Home loan approval, you can get an in principle approval online, in the comfort of your home within minutes.

If you want to purchase a second property and already have an existing housing loan on your current flat, you will only be allowed to borrow up to 45 per cent of the value of your new property. This is provided that at the point of application, the loan tenure (i) is less than 30 years; and (ii) does not extend past age 65. Should these criteria not be made, you will only be eligible to borrow up to 25 per cent of the value of your new property. You can approach our Mortgage banker for calculation and your eligible LTV.

When you sell your HDB flat, you can use the net sales proceeds to purchase your next property. The net sales proceeds received by homebuyers is less any outstanding loan balance and the amount of CPF plus accrued interest used for the existing property.

Although you can use the savings in your CPF Ordinary Account (OA) to pay down your monthly home loan installment, there is a limit. It is important that you know what your CPF Withdrawal Limit is, as you will need to pay your monthly mortgage amount in cash should you reach the cap.

The CPF Withdrawal Limit is capped at 120 per cent of the Valuation Limit of your property. The Valuation Limit is the lower of the purchase price or valuation amount at the point when you purchased your property.

For example, if you purchased your HDB flat at $500,000 and its valuation at the point was $530,000, the Valuation Limit will be $500,000. This means that your Withdrawal Limit will be $600,000, or 120 per cent of the Valuation Limit.

A bridging loan provides short-term financing to complete the purchase of a new property before the homebuyer receives the proceeds from the sale of their existing property.

The quantum for a bridging loan is determined by the nett proceeds from the sale of the property. The nett sales proceeds is calculated based on several components such as the selling price and outstanding loan balance for the existing property and the amount of CPF plus accrued interests that have been used for the existing property.

A bridging loan is a short term loan of up to a maximum of 6 months. The loan tenor is dependent on the needs of the customer.

The interest rate for a bridging loan is between 4% and 5% (accurate as of December 2020) and differs from bank to bank.

The maximum tenor for a bridging loan is six months and full repayment must be made by the end of that period. The monthly repayments are only on the interest charged, with no repayment on the Principal amount, which is repaid in full at end of the tenor. The principal amount can be repaid using either cash or CPF, subject to the CPF Withdrawal Limit.

Generally, no prepayment fee is levied for early redemption of the Bridging Loan before maturity date.

Bridging Loans can be used for the purchase of private properties, HDB flats and Executive Condominums or ECs. Customers who require a bridging loan for the purchase of an Executive Condominium which is still under construction should apply for the loan under the Deferred Payment Scheme offered by the property developer.

You should apply for a Bridging Loan when applying for your Housing Loan. You may receive the approval for your bridging loan within two working days on condition that all necessary documents have been submitted.

More Information

  • The Board Rate (BR) quoted is applicable only for the loan package that you are interested in (eg. HDB flat financing at fixed rate). The financial indicator(s) against which that BR is benchmarked, such as the SIBOR, Prime Rate or CPF rate, will also be disclosed. The current applicable Board Rate is 0.85% p.a.
  • The BR offered for your loan package may be different from BRs offered to other customers for different loan packages.
  • The BR can be changed by the bank anytime, by giving 30 days' notice, depending on market conditions and/or changes in the financial indicator(s) against which the BR is benchmarked. This 30-day notice requirement does not apply to home loans benchmarked against market indices.
  • The loan repayment schedule for the loan package that you have chosen is available in either hard copy (on request) or soft copy in the form of a home loan calculator on the bank's website.
  • The Association of Banks in Singapore's (ABS) Consumer Guide on Home Loans is available and you are encouraged to get a copy from the bank and read it before committing to a loan. This guide is also available on the MoneySENSE and ABS websites in four official languages

This publication is strictly for information purposes only and shall not be transmitted, disclosed, copied or relied upon by any person for whatever purpose. This publication is not an offer, recommendation, solicitation or advice to buy or sell any investment product. Nothing in this document constitutes accounting, legal, regulatory, tax, financial or other advice. You should consult your own professional advisors about issues discussed herein. While the information provided in this publication is believed to be accurate as at the date of publishing, UOB makes no representation or warranty, and accepts no responsibility or liability for its completeness or accuracy.