What is the maximum loan tenure I can get in Singapore?

The maximum loan tenure in Singapore depends on the property type, your age at the time of application, and whether you are taking an HDB loan or a bank loan.

For HDB concessionary loans, the maximum tenure is 25 years. The tenure is also limited by the borrower's age, the loan tenure plus the age of the youngest borrower cannot exceed 65 years. If you are 45 years old, the maximum HDB loan tenure is 20 years.

For bank loans on HDB flats, the maximum tenure is 30 years. If the loan tenure extends past the borrower's 65th birthday, the LTV limit is reduced.

For bank loans on private properties, the maximum tenure is 35 years. If the tenure plus the borrower's age does not exceed 65, standard LTV limits apply. If the tenure extends past the borrower's 65th birthday, the LTV limit is reduced from 75% to 55% for a first property loan.

For properties with a remaining lease shorter than the intended loan tenure, the bank will restrict the tenure accordingly. This is particularly relevant for older HDB flats and ageing leasehold private properties.

Choosing the right tenure involves balancing monthly affordability against total interest cost. A longer tenure means lower monthly payments but more total interest paid. A shorter tenure means higher monthly payments but meaningful interest savings. For a S$500,000 loan at 3% interest, extending from 20 years to 30 years reduces the monthly payment by approximately S$665 but increases total interest paid by approximately S$93,000.

Cashew's advisors help you find the tenure that balances comfortable monthly payments with reasonable total interest costs, taking into account your age, income trajectory, and retirement planning goals.