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All Singapore Citizens and Permanent Residents (PRs) are eligible to apply for the POSB HDB Loan. To make homeownership affordable and accessible, we do not impose a cap on your monthly household income.
The maximum Loan-to-Value (LTV) limit is 75% of the purchase price or property valuation of your HDB flat, whichever is lower.
For individuals who are looking to fund their HDB property with a bank loan, the minimum downpayment is 25% of the purchase price. 5% of the minimum downpayment must be paid in cash and the balance can be paid with your CPF savings.
You can request for an In-Principle Approval (IPA) here or through the HDB Flat Portal when applying for a HDB Flat Eligibility (HFE) letter. The IPA provides an assessment of the eligible loan amount based on the affordability of the borrower(s).
Your POSB HDB Loan IPA is valid for 30 days from the approval date. As it is not a binding document, the final loan amount is subject to the property purchase price, valuation and other checks.
You can easily convert your POSB HDB Loan IPA to a Letter of Offer (LO) by sending us your Option to Purchase (OTP).
If you are purchasing a HDB BTO flat, you must have a valid LO before you sign the Agreement for Lease.
If you are purchasing a resale HDB flat, you must have a valid LO before you exercise the Option to Purchase.
Your monthly instalments will be debited from your DBS/POSB loan servicing account on each due date. If you plan to use your CPF savings to service your monthly instalments, we encourage you to speak to your lawyer to set up the arrangement.
Submit your application here – please have the required documents on hand, including digibank access, for a seamless application.
If you have additional questions on the PODB HDB Loan, fill up the form here and our friendly Home Advice Specialists will reach out to you.
