Is it worth it?
How much would you save by switching?
Enter your outstanding loan, and we'll compare the HDB loan against the DBS CPF-OA package, year by year.
The package at a glance
| Rates | 1.78% (years 1 to 3) · 2.20% (years 4 to 5) · 2.40% after |
|---|---|
| Pegged to | CPF OA rate (2.50%) |
| Lock-in | 3 years |
| Minimum loan | S$100,000 |
| Penalties | None for prepaying. Waived if you sell in lock-in. |
| Perks | Cash subsidy · one free switch after lock-in |
| Eligibility | Singapore Citizens and PRs |
Everything DBS gives you. Plus us.
You keep the exact same rate
Going through Cashew costs you nothing extra. DBS pays us a standard fee only if you take up the loan.
We check it's your best option
DBS only shows you DBS. We compare this package against your HDB loan and 6+ banks' fixed and floating rates before you commit.
One advisor, start to finish
We prepare your documents, chase the bank, and coordinate with HDB, CPF and the lawyer, so you're not juggling it all yourself.
Honest advice on the one-way door
Once you leave the HDB loan you can't go back. We'll tell you if staying is smarter.
Long-term tracking
We keep tracking your package after you switch. If a better one comes along, or your rate steps up, we'll tell you so you can refinance.
HDB loan vs DBS CPF-OA loan vs a typical bank loan
| Feature | HDB loan | DBS CPF-OA HDB Loan | All other bank packages |
|---|---|---|---|
| Rate today | 2.60% | 1.78% (years 1 to 3) | From about 1.4% to 1.9% (see best rates) |
| Pegged to | CPF OA | CPF OA | SORA or bank board rate |
| Moves with market rates | Only if CPF OA changes | Only if CPF OA changes | Yes |
| Prepayment penalty | None | None | Usually 1.5% in lock-in |
| Penalty if you sell | None | Waived in lock-in | Usually 1.5% in lock-in |
| Can switch back to HDB | Not applicable | No | No |
| Max loan-to-value | 75% | 75% | 75% |
Frequently asked questions
What is the DBS CPF-OA HDB loan?
A DBS home loan for HDB flats whose rate is pegged below the CPF OA rate: 1.78% for the first 3 years when OA is 2.50%.
Is it cheaper than the HDB loan?
Yes, as long as both track CPF OA. It stays 0.20% to 0.82% below the HDB loan throughout.
What happens after the 3-year lock-in?
The rate rises to 2.20% in years 4 to 5, then 2.40%. You can switch once for free to another DBS package or refinance elsewhere.
Can the rate go up?
Only if the CPF OA rate rises. OA has a legislated floor of 2.50%, so 1.78% is also the lowest it can go.
Is there a penalty for paying early or selling?
No early repayment fee, and the sale fee is waived during the lock-in.
Can I go back to an HDB loan later?
No. Once you refinance to a bank, you cannot return to an HDB loan.
What's the minimum loan amount?
S$100,000.
Who is eligible?
Singapore Citizens and PRs, with no household income cap.
What documents do I need?
NRIC, latest 12 months CPF contribution history, latest Notice of Assessment, outstanding HDB loan statement, and for new purchases the Option to Purchase or HFE letter. Your Cashew advisor will help you gather them.
Does applying through Cashew cost more?
No. You get the same DBS rate and benefits, and our service is free.
Can I use it for a new BTO or resale flat?
Yes. You need a valid Letter of Offer before signing the Agreement for Lease (BTO) or exercising the OTP (resale).
Is this better than a SORA or fixed bank loan?
It depends on where rates go. Cashew compares them for you before you apply.
Paying 2.60% on your HDB loan? You could pay 1.78%.
No obligation.
Rates and terms are set by DBS Bank and may change without notice. Figures are illustrations assuming a CPF OA rate of 2.50%. Cashew is an independent mortgage advisory service and receives a fee from the bank when a loan is taken up. This is not financial advice. Rates updated 27 Oct 2026.