Regulatory Alerts2025-08-21
Added
Notice 831 Computation of Total Debt Servicing Ratio for Property Loans
The Monetary Authority of Singapore issues this notice to establish the formula and parameters for finance companies to compute the total debt servicing ratio for property loans. It mandates the calculation of borrowers' monthly total debt obligations and gross monthly income while specifying limits on monthly repayment instalments for HDB flats and executive condominiums. This regulatory framework applies to all finance companies in Singapore to ensure prudent lending practices for residential property acquisitions.
Notices
Last Revised Date: 21 August 2025
Notice 831 Computation of Total Debt Servicing Ratio for Property Loans
Requirements for finance companies on computing the total debt servicing ratio (TDSR) for property loans.
Property Loans
Issued pursuant to:
Finance Companies Act 1967 section 30
Applies to:
Finance Company
View Notice
Notice 831 Computation of Total Debt Servicing Ratio for Property Loans
(334.1 KB)
This notice applies to all finance companies in Singapore.
It sets out the formula and parameters for finance companies 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 831 (Amendment) (345.9 KB) 2025 takes effect.
29 Sep 2022 MAS Notice 831 (Amendment) 2022 (246.3 KB) takes effect.
18 Feb 2020 MAS Notice 831 (Amendment) 2020 (394.9 KB) takes effect.
06 Jul 2018 MAS Notice 831 (Amendment) 2018 (415.5 KB) takes effect.
11 Mar 2017 MAS Notice 831 (Amendment) 2017 (91.3 KB) takes effect. MAS Notice 831 last revised on 10 March 2017 (284.7 KB) .
01 Sep 2016 MAS Notice 831 (Amendment) 2016 (82.6 KB) takes effect. MAS Notice 831 last revised on 01 September 2016 (276.3 KB) .
10 Feb 2014
MAS Notice 831 dated 28 June 2013 and last revised on 10 February 2014 (245 KB) takes effect.
10 Dec 2013 MAS Notice 831 (Amendment No.2) 2013 takes effect.
28 Aug 2013 MAS Notice 831 (Amendment) 2013 takes effect.
29 Jun 2013 MAS Notice 831 dated 28 June 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.