Notice 128 Computation of Total Debt Servicing Ratio for Property Loans

Notices

Last Revised Date: 21 August 2025

Notice 128 Computation of Total Debt Servicing Ratio for Property Loans

Requirements for insurers on computing the total debt servicing ratio (TDSR) for property loans.

Property Loans

Issued pursuant to:

Insurance Act 1966 section 64(2)

Applies to:

Direct Insurer (Life)

,

Direct Insurer (General)

,

Direct Insurer (Composite)

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Notice 128 Computation of Total Debt Servicing Ratio for Property Loans

(333.4 KB)

This notice applies to all direct insurers in Singapore.

It sets out the formula and parameters for insurers to compute the total debt servicing ratio, monthly total debt obligations and gross monthly income of borrowers. The notice also spells out the limit on monthly repayment instalments for the purchase of HDB flats and executive condominiums.

See explainers:

Rules for New Housing Loans

Mortgage Equity Withdrawal Loan Rules

Refinancing Housing Loans

22 Aug 2025 Notice 128 (Amendment) 2025 (346.1 KB) takes effect.

29 Sep 2022 Notice 128 (Amendment) 2022 (246.8 KB) takes effect.

18 Feb 2020 Notice 128 (Amendment) 2020 (394.7 KB) takes effect.

06 Jul 2018 Notice 128 (Amendment) 2018 (415.7 KB) takes effect.

11 Mar 2017 Notice 128 (Amendment) 2017 (91.2 KB) takes effect.

01 Sep 2016 Notice 128 (Amendment) 2016 (82.9 KB) takes effect. 10 Feb 2014 Notice 128 (Amendment) 2014 (244.3 KB) takes effect.

Guidelines for all financial institutions on how to apply the total debt servicing ratio (TDSR) to property loans.