Regulatory Alerts2025-08-21
Added
Notice 645 Computation of Total Debt Servicing Ratio for Property Loans
The Monetary Authority of Singapore issued Notice 645 to establish the formula and parameters for banks to compute the total debt servicing ratio for property loans. This regulation mandates that financial institutions calculate borrowers' monthly total debt obligations and gross monthly income to ensure responsible lending practices. It also specifies the limits on monthly repayment instalments for the purchase of HDB flats and executive condominiums.
Notices
Last Revised Date: 21 August 2025
Notice 645 Computation of Total Debt Servicing Ratio for Property Loans
Requirements for banks on computing the total debt servicing ratio (TDSR) for property loans.
Property Loans
Issued pursuant to:
Banking Act 1970
Applies to:
Full Bank (Locally Incorporated)
,
Full Bank (Branch)
,
Wholesale Bank (Locally Incorporated)
,
Wholesale Bank (Branch)
View Notice
Notice 645 Computation of Total Debt Servicing Ratio for Property Loans
(334.7 KB)
This notice applies to all banks. It sets out the formula and parameters for banks 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:
Total Debt Servicing Ratio for Property Loans
Rules for New Housing Loans
22 Aug 2025 MAS Notice 645 (Amendment) 2025 (348.2 KB) takes effect.
29 Sep 2022 MAS Notice 645 (Amendment) 2022 (245.6 KB) takes effect.
18 Feb 2020 MAS Notice 645 (Amendment) 2020 (393.3 KB) takes effect.
06 Jul 2018
MAS Notice 645 (Amendment) 2018 (414 KB) takes effect.
11 Mar 2017
MAS Notice 645 (Amendment) 2017 (91.5 KB) takes effect. Notice 645 last revised on 10 Mar 2017 (284.2 KB) .
01 Sep 2016
MAS Notice 645 (Amendment) 2016 (82.7 KB) takes effect. Notice 645 last revised on 1 September 2016 (275.7 KB) .
10 Feb 2014 MAS Notice 645 (Amendment) 2014 takes effect. Notice 645 last revised on 10 February 2014 (244.6 KB) .
10 Dec 2013 MAS Notice 645 (Amendment No. 2) 2013 takes effect.
28 Aug 2013 MAS Notice 645 (Amendment) 2013 takes effect.
28 Jun 2013 MAS Notice 645 dated 28 Jun 2013 takes effect.
Guidelines for all financial institutions on how to apply the total debt servicing ratio (TDSR) to property loans.
Explains the application of MAS Notices on Housing Loans to borrowers who are individuals and who own residential property gazetted for acquisition.
Explains the application of MAS Notices on Housing Loans to borrowers who are individuals and who own residential property gazetted for acquisition.
Information paper on underwriting and lending practices of banks’ residential property loans business, including areas where underwriting and lending practices could be improved and sound practices observed during MAS’ thematic inspection in 2012.