Notice 645A 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:

Applies to: Full Bank (Branch) , Full Bank (Locally Incorporated) , Wholesale Bank (Branch) , Wholesale Bank (Locally Incorporated)

View Notice Notice 645A Computation of Total Debt Servicing Ratio for Property Loans (93.9 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:

09 Nov 2020: MAS Notice 645A (Amendment No. 3) 2020 (99.3 KB)takes effect.
06 May 2020: MAS Notice 645A (Amendment No. 2) 2020 (121 KB) takes effect.
06 Apr 2020: MAS Notice 645A (Amendment) 2020 (254.9 KB) takes effect.
18 Feb 2020: MAS Notice 645A dated 17 Feb 2020 takes effect.