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TDSR Singapore 2026 — Total Debt Servicing Ratio Calculator, Rules & Guide
The Total Debt Servicing Ratio (TDSR) is the single most important financing constraint every Singapore property buyer faces. Introduced in June 2013 by the Monetary Authority of Singapore (MAS), TDSR limits your total monthly debt repayments to 55% of your gross monthly income.
Understanding your TDSR headroom before viewing showflats or making offers is essential — it determines exactly how much you can borrow and, therefore, what price range of new launch condominium you can afford.
What Is TDSR?
TDSR stands for Total Debt Servicing Ratio. It is a borrowing framework that requires all financial institutions in Singapore to calculate the total of a borrower’s monthly debt obligations (including the proposed new loan) and ensure this does not exceed 55% of the borrower’s gross monthly income.
TDSR applies to:
- Private residential property purchases (new launch condos, resale condos, landed property)
- Refinancing of existing private property loans
- Commercial property loans
TDSR does not apply to HDB housing loans (which are governed by the HDB Loan Eligibility or HLE framework and the Mortgage Servicing Ratio / MSR).
How to Calculate TDSR in Singapore
The formula is:
TDSR = (Total Monthly Debt Obligations ÷ Gross Monthly Income) × 100
Your total monthly debt obligations include:
- Proposed new property loan monthly repayment
- Existing property loan(s) monthly repayment
- Car loan monthly repayment
- Personal loan / credit card / student loan monthly repayment (typically minimum payment)
- Any other outstanding debt obligations
TDSR Calculation Example 2026
| Item | Monthly Amount (S$) |
|---|---|
| Gross monthly income (combined couple) | 12,000 |
| TDSR limit (55%) | 6,600 |
| Existing car loan repayment | 800 |
| Remaining headroom for property loan | 5,800 |
| Max property loan repayment allowable | 5,800/month |
| Approximate max loan at 30yr tenure, 4% rate | ≈ S$1.22M |
| Down payment (25% for bank loan) | ≈ S$407K |
| Max property purchase price | ≈ S$1.63M |
TDSR vs MSR: What Is the Difference?
The Mortgage Servicing Ratio (MSR) is a separate framework that applies specifically to HDB flat purchases and EC purchases from developers (during the initial purchase period). MSR limits the monthly repayment to 30% of gross monthly income — a tighter constraint than TDSR for eligible buyers.
| Framework | Applies To | Limit |
|---|---|---|
| TDSR | Private property, commercial property loans | 55% of gross income |
| MSR | HDB flat loans (bank or HDB), EC bought from developer | 30% of gross income |
When buying a new launch private condominium, only TDSR applies. MSR does not apply to private condo purchases.
How TDSR Affects New Launch Condo Buyers in 2026
With SORA-linked mortgage rates still elevated versus the pre-2022 environment, TDSR has become a more binding constraint for many buyers. At a blended rate of 3.5–4.0% for a 30-year loan:
- Every S$100,000 of loan costs approximately S$449–S$477/month in repayments
- A S$1M loan requires approximately S$4,490–S$4,770/month — consuming 37–40% of a S$12,000/month household income
- Buyers with car loans or existing debt obligations face tighter headroom
How to Maximise Your TDSR Headroom for a New Launch Purchase
- Clear short-term debts before applying: Paying off personal loans or reducing credit card debt improves your TDSR position immediately
- Extend loan tenure to 30 years: Longer tenure reduces monthly repayment and improves TDSR clearance (though total interest paid increases)
- Add a co-borrower: Including a spouse or family member with income can increase the combined gross income base
- Time your car loan expiry: If your car loan ends in 12 months, it may be worth waiting to buy when your TDSR headroom increases
- Sell existing property first: Removes existing property loan from TDSR calculation
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