Mortgage Calculator in Singapore Helps You Plan Smarter​

Estimate monthly payments, explore loan terms, and find what fits your budget so buying a home feels less overwhelming.

Navigating the complexities of buying a property in Singapore can be a challenge. The mortgage calculator can simplify the process by estimating your monthly instalment, calculating your maximum loan amount, and evaluating various loan packages.

$10,000
$1,000 $200,000
12 months
1 months 72 months
$400

Interest rates starting from as low as 3.38% p.a. (EIR from 6.32% p.a.).

Loans are subject to an administrative fee of 10% deducted upfront from the loan disbursement.

Interest Rate Table

Bank

Scheme

Lock-In Period

1st Yr Interest

2nd Yr Interest

3rd Yr Interest

4th Yr Interest

Bank of China

3 Year Fixed (Green Mortgage)

3 years

2.40%

2.40%

2.45%

3.90%

Promotion

2-Year Fixed Flexi (With 200K Deposit)

2 years

2.42%

2.42%

3.80%

4.00%

Bank of China

2-Year Fixed Flexi (Green Mortgage)

2 years

2.45%

2.45%

3.70%

3.90%

Bank of China

3 Year Fixed

3 years

2.45%

2.45%

2.45%

3.90%

Bank of China

2-Year Fixed Flexi

2 years

2.50%

2.50%

3.70%

3.90%

Promotion

1-Month SORA (With 200K Deposit)

2 years

3.00%

3.05%

3.00%

3.00%

Promotion

1-Month SORA (With 200K Deposit)

0 year

3.10%

3.10%

3.10%

3.10%

RHB

1-Month SORA

0 year

3.20%

3.20%

3.20%

3.20%

Maybank

1-Month SORA

0 year

3.25%

3.25%

3.00%

3.25%

DBS

3-Month SORA

0 year

3.25%

3.25%

3.25%

3.25%

Note: Rates are indicative and subject to change. Always consult with the respective bank for the most current interest rates.

What Is a Mortgage Calculator?

A mortgage calculator is an online tool designed to help prospective homeowners in Singapore estimate their monthly repayments based on variables such as loan amount, interest rates, and tenure.

By inputting these details, users can gain clarity on their potential mortgage payments, facilitating informed decisions when considering a housing loan.​

How Our Calculator Works

Our mortgage interest calculator simplifies the home financing process by allowing you to input key details such as purchase price, loan term, and interest rates. It then computes your estimated monthly instalment, clearly showing your financial commitment.​

Ready to plan your home purchase? Use our calculator to determine your ideal loan package and make informed decisions.​

Elements of a Mortgage Calculator

Understanding the key components of a mortgage calculator is essential for anyone planning to purchase a property in Singapore.

The purchase price refers to the total costs of the property you intend to buy. This figure is the foundation of your mortgage computation and directly influences the loan amount you may borrow.

The loan amount is the money you plan to obtain from a bank or financial lender. It is typically the purchase price minus your downpayment and any CPF savings you decide to use.

Interest rates are the percentage charges the bank imposes on your mortgage loan annually. They can be fixed or floating; even a small change can significantly affect your monthly payment and total interest over the entire loan tenure.

The loan tenure refers to how long it will take to repay your mortgage loan fully, typically between 5 and 30 years in Singapore. A longer repayment period can lower your monthly instalments, making each payment more manageable. However, it also means you will pay more in total interest over time.

This is the total monthly amount you’ll need to pay, covering both principal and interest. Calculating your monthly repayment helps ensure the loan is affordable based on your income and long-term financial goals.

Benefits of Using OMY Calculator

 

When planning your home loan in Singapore, having access to the right tools is essential. The OMY mortgage calculator offers many features that make it an indispensable resource for prospective homebuyers.

1. Accurate Estimations

Our mortgage interest calculator generates accurate figures, allowing you to calculate your monthly repayments confidently. This ensures you know exactly how much you must pay each month, eliminating guesswork and helping you stick to your budget.

2. Time-Saving

Rather than manually calculating your loan amount, monthly instalment, or maximum loan, the OMY calculator streamlines the process.

3. Customisable Inputs

You can tailor the calculator by adjusting key variables like interest rates, loan tenure, and loan amount. This flexibility lets you see how changes affect your monthly payment and total interest so that you can fine-tune your loan strategy.

4. Effective Financial Planning

Understanding how different factors impact your mortgage payments helps you plan a long-term finance plan. You can simulate various loan terms to gauge how much you’ll spend in interest and plan more effectively around your income and expenses.

5. Comparison Tool

The OMY calculator lets you compare interest rates across multiple banks and lenders, helping you choose the most suitable loan package.

6. User-Friendly Interface

Our tool is designed to be intuitive and easy to navigate. Whether you are a first-time buyer or an experienced investor, the interface helps you calculate, adjust, and assess without confusion or complexity.

7. Accessibility

Available online, the mortgage calculator can be used anytime, anywhere. Whether at home or on the go, you can easily access your figures and keep your housing loan plans on track.

8. Educational Resource

Beyond computations, our calculator serves as a learning tool. It helps you understand how different elements influence your final mortgage payments, guiding you through the process with clarity.

9. Risk Assessment

You can identify potential financial strain by simulating various scenarios, such as rising interest rates or shortened repayment periods.

10. Informed Decision-Making

The OMY calculator empowers you to make sound decisions. It aligns your loan amount and monthly repayments with your current income, ensuring your home loan remains manageable and stress-free.

Tips for Using a Mortgage Calculator

A mortgage calculator is a powerful tool that can simplify your housing loan planning process, but it’s important to use it correctly to get the most accurate and helpful results.

1. Input Accurate Data

Always ensure that the purchase price, loan amount, and interest rates entered are up to date and reflect the current market.

2. Consider Additional Costs

Besides the basic loan amount, factor in other costs such as legal fees, stamp duties, insurance under the Home Protection Scheme, and appliances or renovations.

3. Test Different Scenarios

Use the calculator to simulate various conditions—alter the loan tenure, interest rates, and loan package options to see how your monthly instalment changes.

4. Plan for Extra Payments

Explore how extra payments toward your principal could shorten the repayment period and reduce your total interest. A good strategy is to pay extra when possible, especially when you have higher income or lower expenses.

5. Assess Affordability

The mortgage calculator can show whether your projected monthly repayments are manageable based on your income and debt obligations. This helps you avoid overcommitting and stay within your financial limits.

6. Compare Loan Packages

Use the tool to compare different loan packages from various banks and lenders. Consider each loan’s interest rates, fees, and terms before deciding which option most applies to your situation.

7. Review Regularly

Revisit the calculator if your financial situation changes, such as a salary increase, new debt, or refinancing opportunities. Regular reassessment ensures your mortgage plan aligns with your evolving financial needs and life stages.

8. Understand Amortisation

Take time to learn how mortgage payments are amortised. In the early years, your monthly payment primarily goes toward interest, while in later years, more of the payment is applied to the principal. Understanding this helps with better loan term decisions.

9. Account for CPF Usage

If you intend to use your CPF savings, adjust the figures in the calculator accordingly. This can lower your cash outlay and reduce your required loan amount, affecting your monthly and overall repayments.

10. Don’t Rely Solely on the Calculator

While incredibly useful, the mortgage calculator should not be your only source of truth. Consult a professional bank representative or lender to verify the loan terms, eligibility, and finer details the calculator may not cover.

Factors Affecting HDB Loan Monthly Instalment

Several factors influence the monthly instalment of your HDB loan, making it essential to evaluate each before committing financially.

1. CPF Ordinary Account Savings

Using your CPF savings from the ordinary account to pay for your monthly repayment reduces reliance on cash. This lowers your out-of-pocket payment, easing financial strain.

2. Eligibility Criteria

Your eligibility under HDB guidelines, such as being a single Singapore citizen aged 35 or older, affects your maximum loan amount and tenure.

3. Other Factors

Existing personal loans, credit card debts, or ownership of overseas private residential property may impact your ability to qualify for the HDB concessionary loan due to the total debt servicing ratio limits.

4. Property Value and Purchase Price

The purchase price and value of your HDB flat determine the loan amount and any applicable CPF housing grant, ultimately shaping your housing loan terms and repayment structure.

FAQs

Your mortgage loan may be declined due to a poor credit score, high existing debt liability, unstable income, or failing the Total Debt Servicing Ratio (TDSR), a requirement set by the government to ensure you can afford your repayments. As a general rule, maintaining healthy finances improves your eligibility.

Yes, you can use a combination of CPF and cash for your downpayment. The portion you can cover with CPF depends on your selected loan package and the property’s valuation limit, which the bank determines. This flexibility protects your savings while meeting upfront costs.

Yes. Frequent job changes can affect your mortgage application because lenders assess how much loan you can afford based on a stable income history. As an example, applicants under probation may face stricter scrutiny.

Missing a monthly repayment could lead to late fees, increased interest, and a negative credit record. Creating a solid financial plan early to avoid such risks is wise, as repeated defaults could put your property at risk.

Generally, no. Once a mortgage loan is approved, the loan amount is fixed. If additional funds are required, you must seek refinancing or reapply for a new loan instead of adjusting the existing one.

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