Regulatory Alerts2020-11-06
Added
Notice 128A Computation of Total Debt Servicing Ratio for Property Loans
The Monetary Authority of Singapore issued Notice 128A to mandate direct insurers in Singapore to compute the total debt servicing ratio for property loans. The notice establishes the specific formula, parameters, and limits for calculating borrowers' monthly total debt obligations, gross monthly income, and repayment instalments for HDB flats and executive condominiums. This regulatory framework ensures consistent risk assessment standards across the insurance sector for housing-related credit.
Notices
Last Revised Date: 06 November 2020
Requirements for insurers on computing the total debt servicing ratio (TDSR) for property loans.
Property Loans
Issued pursuant to:
Insurance Act (Cap. 142) section 64(2)
Applies to:
Direct Insurer (Life)
,
Direct Insurer (General)
,
Direct Insurer (Composite)
View Notice
Notice 128A Computation of Total Debt Servicing Ratio for Property Loans
(93.7 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
09 May 2020 MAS Notice 128A (Amendment No. 3) 2020 (99.6 KB) takes effect.
06 May 2020 MAS Notice 128A (Amendment No. 2) 2020 (257.6 KB) takes effect.
06 Apr 2020 MAS Notice 128A (Amendment) 2020
(255.1 KB) takes effect.
18 Feb 2020 MAS Notice 128A dated 17 Feb 2020 takes effect.