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Singapore Total Debt Servicing Ratio (TDSR) Calculator

Singapore Total Debt Servicing Ratio (TDSR) Calculator

What is TDSR?

Total Debt Servicing Ratio (TDSR) was announced by the Monetary Authority of Singapore (MAS) in June 2013. TDSR will facilitate banks’ assessment of the borrower’s repayment ability. It will also encourage greater financial prudence, as it will help to ensure that borrowers are not over-leveraged in their property purchases. As long as the borrower is an individual, the income and outstanding debt obligations of the borrower are considered in the assessment.

TDSR is currently set at 60%. It means your total monthly liabilities is capped at 60% of gross monthly income. Liabilities include personal loans, home loans and car loans. If you are applying for another property loan, the new commitment will be computed together with existing liabilities and your TDSR cannot exceed the 60% threshold.

MAS made an unexpected announcement on 1 September 2016, on tweak to refinancing guidelines. Home owners may be exempted from TDSR regardless of when they purchase the property. The exemption also apply to residential properties for investment purposes. Great news for everyone, as this means looser assessment, easier to refinance and obtain interest rates and higher savings.

Compute Your TDSR

Calculation of TDSR will be based on loan tenure, loan amount, combined monthly gross income, combined monthly debt obligations and a interest rate of 3.5% for residential homes and 4.5% for commercial properties.

A pass is good. You are financially prudent.

Not passing it may require a review of your property portfolio and requirements.


TDSR Calculator

 

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