Notice 1115A Computation of Total Debt Servicing Ratio for Property Loans

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

Property Loans

Issued pursuant to: Banking Act (Cap. 19) section 55

Applies to: Merchant Bank (Branch) , Merchant Bank (Locally Incorporated)

View Notice Notice 1115A Computation of Total Debt Servicing Ratio for Property Loans (378.6 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:

01 Jul 2021: MAS Notice 1115A dated 28 Jun 2021 (378.6 KB) takes effect. MAS Notice 1115A dated 17 Feb 2020 (last revised on 6 Nov 2020) (93.7 KB) is cancelled.
09 Nov 2020: MAS Notice 1115A (Amendment No. 3) 2020 (99.5 KB) takes effect.
06 May 2020: MAS Notice 1115A (Amendment No. 2) 2020 (257.5 KB) takes effect.
06 Apr 2020: MAS Notice 1115A (Amendment) 2020 (255.3 KB) takes effect.
18 Feb 2020: MAS Notice 1115A dated 17 Feb 2020 takes effect.