Notices
 Last Revised Date: 29 September 2022

Notice 1115 Computation of Total Debt Servicing Ratio for Property Loans

Requirements for merchant banks on computing the total debt servicing ratio (TDSR) for property loans.
Issued pursuant to:

Banking Act (Cap. 19) section 55

Applies to: Merchant Bank (Locally Incorporated) , Merchant Bank (Branch)
View Notice Notice 1115 Computation of Total Debt Servicing Ratio for Property Loans (225.6 KB)

This notice applies to all merchant banks in Singapore.

It sets out the formula and parameters for merchant 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:

Amendment Notes

10 Feb 2014
MAS Notice 1115 (Amendment) 2014 takes effect. MAS Notice 1115 last revised on 10 Feb 2014 (244.5 KB).
10 Dec 2013
MAS Notice 1115 (Amendment No. 2) 2013 takes effect.
28 Aug 2013
MAS Notice 1115 (Amendment) 2013 takes effect.

29Jun 2013

MAS Notice 1115 dated 28 Jun 2013 takes effect.