TDSR Singapore 2026 — Complete Guide, Calculator & How It Affects Your Loan

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What Is TDSR in Singapore?

The Total Debt Servicing Ratio (TDSR) is a financial framework introduced by the Monetary Authority of Singapore (MAS) in June 2013 to ensure that borrowers do not take on more debt than they can service. Under TDSR rules, the total monthly repayment obligations on all outstanding debts — including the new property loan — cannot exceed 55% of the borrower’s gross monthly income.

TDSR applies to all loans secured by real estate in Singapore, including private residential properties, commercial properties, and HDB purchases financed by bank loans.

TDSR Calculation — Step by Step

1. Sum all monthly debt obligations: Add up monthly repayments for all existing debts (car loan, personal loan, student loan, outstanding credit card balances × 5% monthly) plus the proposed new property loan instalment
2. Calculate gross monthly income: Include all verifiable income sources — fixed salary, variable income (discounted), rental income (70% recognised), business income
3. Apply the 55% threshold: Total debt / Gross income ≤ 55%

Example: If your gross monthly income is $10,000, your total monthly debt repayments (including new mortgage) cannot exceed $5,500.

TDSR vs MSR — Key Differences

For EC buyers, BOTH TDSR (55%) and MSR (30%) apply. The MSR is the binding constraint for most EC buyers — your monthly EC loan repayment alone cannot exceed 30% of your gross income.

TDSR for Second Property Buyers

If you already have an outstanding property loan, TDSR becomes the critical constraint for your second property purchase:

• Your first property’s monthly mortgage repayment is already counted in your TDSR
• The second property loan repayment must fit within the remaining TDSR capacity (55% minus existing debts)
• LTV limit for second property is 45% (down from 75%), requiring a larger cash/CPF downpayment
• Many buyers find it more practical to sell the first property before buying the second to avoid these constraints

How to Maximise Loan Eligibility Under TDSR

• Pay down existing debts: Clear car loans, personal loans and credit card balances before applying for a property loan
• Include all income sources: Rental income (70% recognised), dividends, variable pay (12-month average)
• Extend loan tenure: A longer loan period (up to 30 years for under-45 buyers) reduces monthly instalment and improves TDSR ratio
• Joint application: Adding a co-borrower (spouse, parent) increases the combined income base
• Choose right property type: For EC buyers, the MSR cap at 30% may limit loan amount more than TDSR — work with a mortgage consultant to optimise

TDSR for Tengah Garden Walk EC Buyers

For buyers of Tengah Garden Walk EC (VVIP Preview April 11, 2026), the MSR rule is critical. At indicative prices of $1,250-$1,350 psf, a 3-bedroom unit at ~1,000 sqft costs approximately $1.25M-$1.35M. At 75% LTV (EC first property), the loan quantum is approximately $940K-$1.0M. Monthly repayment over 25 years at ~3.5% p.a. ≈ $4,700-$5,000/month. This requires a gross monthly household income of at least $15,700-$16,700 to meet the 30% MSR cap.