About TDSR & MSR
The Total Debt Servicing Ratio (TDSR) and Mortgage Servicing Ratio (MSR) are MAS rules that cap how much you can borrow for property in Singapore. They apply at loan application - even cash-rich buyers can be rejected.
TDSR (all properties):
- All monthly debts ≤ 55% of gross monthly income
- Includes: mortgages, car loans, study loans, personal loans, credit cards (3% of o/s)
- Variable income (bonuses, rental) discounted by 30%
- Banks stress-test at higher of actual rate or 4.0% medium-term rate
MSR (HDB & EC only):
- Mortgage payment alone ≤ 30% of gross monthly income
- Applies on top of TDSR for HDB flats and Executive Condominiums (ECs)
- Tighter constraint - usually the binding one for HDB buyers
LTV (Loan-to-Value): First HDB loan from bank: max 75%. Second housing loan: 45%. Private 1st loan: 75%. These define minimum cash + CPF down payment - separate from TDSR/MSR.
How banks calculate eligibility
- Compute net income: fixed salary + 70% × variable income
- For HDB/EC: max monthly mortgage = 30% × net income (MSR cap)
- For all: max total debt = 55% × net income (TDSR cap)
- Subtract existing debts to find headroom for new mortgage
- Use the LOWER of MSR cap and TDSR headroom
- Stress test: compute max loan using 4.0% interest over your tenure
- Result: maximum eligible loan amount
Worked example
Couple earning SS$1/mo combined, SS$1/mo car loan, buying HDB with 25-yr tenure.
- Net income: SS$1 (no variable)
- MSR cap (HDB): 30% × SS$1 = SS$1/mo mortgage
- TDSR cap: 55% × SS$1 - SS$1 existing = SS$1/mo mortgage
- Binding constraint: MSR (SS$1 < SS$1)
- At 4% stress rate, 25 yrs: max loan = ~SS$1
- With 75% LTV: max property price = SSS$1 / 0.75 ≈ SSS$1
- Need SSS$1 cash + CPF for 25% down payment
FAQs
Pledging assets to qualify?
If income falls short, pledge financial assets (cash, FDs, bonds, equities). Pledged assets / 4 / 12 added to "income" for TDSR. Or unpledged assets / 0.7 / 12 (less generous). Lock-up usually 4 years.
What if I'm self-employed?
Banks use latest 2 years' Notice of Assessment (NOA) average, then haircut by 30% (treated as variable). Self-employed often need to pledge more assets or take a longer-term loan.
Joint borrower with parent?
Income-weighted average age (IWAA) used to determine max tenure. Younger co-borrower extends tenure - useful when older parents help children buy. Don't bring in older co-borrower (shortens tenure).
Refinancing - same TDSR?
Refinancing your existing home loan: TDSR not applied (since 2017). Cash-out refinancing or top-up: TDSR does apply. Investment property refinance: TDSR applies if the loan amount increases.
HDB Concessionary Loan?
HDB direct loan up to 75% LTV at HDB Concessionary Rate (CPF OA + 0.10%). Uses MSR but not full TDSR rules. Slightly easier to qualify than bank loans for first-time HDB buyers.
How to use the TDSR & MSR Calculator
The TDSR & MSR Calculator is a browser-based tool that runs entirely on your device. Inputs you enter never reach a server - all calculations happen client-side in JavaScript. This means:
- Privacy: nothing is logged, sent, or stored by 3Tej. Inputs disappear when you close the tab.
- Speed: results update as you type. No network round trip.
- Offline use: once the page is cached, it works without internet.
- No signup: no account, no email, no rate limits.
Step by step
- Enter your inputs in the form above. Each field is labeled with its unit (currency, percent, kg, etc.) and the expected range.
- Read the result as it updates. The number reflects the formula commonly accepted in TDSR & MSR-related calculations.
- Adjust to see sensitivity: change one input at a time and watch how the output moves. This is the fastest way to understand which variable matters most.
- Copy or screenshot the result for later reference. The page state persists for the session if your browser allows it.
When you would use this
- Quick estimates: when you need a number now and don't want to open a spreadsheet.
- Sensitivity analysis: testing how a result changes as inputs vary, before committing to a real-world decision.
- Comparison: running the same calculation with different inputs to compare options side by side.
- Learning: building intuition for how the underlying math behaves.
- Documentation: capturing a snapshot of inputs and outputs at a point in time.
Frequently asked questions
Is the TDSR & MSR Calculator accurate?
The TDSR & MSR Calculator applies the standard formula for tdsr & msr. Accuracy is limited only by your input precision. For decisions with material consequences, use the result as a starting point and verify with a qualified professional or the relevant official source.
Is the TDSR & MSR Calculator free?
Yes. 100% free, no signup, no payment, no API key. The site is funded by display ads that appear around the tool but not inside the calculation flow.
Are my inputs saved?
No. Inputs stay in your browser tab. Closing the tab discards them. The site uses Google Analytics for traffic measurement (anonymized) but does not see what you type into the form.
Can I use the TDSR & MSR Calculator on my phone?
Yes. The tool is responsive and tested on iOS Safari, Android Chrome, and major desktop browsers. Touch targets meet Apple's 44pt and Google's 48dp minimum guidance.
How do I report a bug or suggest improvement to the TDSR & MSR Calculator?
Email hi@3tej.com with the URL of this page and a description of what you saw vs expected. We typically respond within 72 hours and update calculators when rules or formulas change.
How accurate is the TDSR & MSR Calculator?
It applies the standard formula. Accuracy is limited only by your input precision. For decisions with material consequences (taxes, medical, legal, structural), use the result as a starting point and verify with a qualified professional in the relevant field.
Is the TDSR & MSR Calculator free to use?
Yes. 100% free, no signup, no payment, no API key. The site is funded by display ads around the tool but not inside the calculation flow.
Are my inputs saved anywhere?
No. All inputs stay in your browser tab. Closing the tab discards them. The site uses Google Analytics for traffic measurement (anonymized) but the analytics never see what you type into the form.
Does the TDSR & MSR Calculator work offline?
Yes. Once the page has loaded, it works without internet. The calculation runs in JavaScript on your device.
Can I share results from the TDSR & MSR Calculator?
Take a screenshot or copy the output. The page doesn't generate shareable URLs for specific calculations - inputs stay in your browser only.
Why are the results different from another tdsr & msr tool?
Most likely: different formula assumptions, different default values, different rounding rules, or different applicable rates. Check the methodology if both tools document it. Both can be valid for different scenarios.
Real-world scenarios where the TDSR & MSR Calculator helps
Day-to-day decisions
Quick estimates without opening a spreadsheet. The TDSR & MSR Calculator runs the math instantly so you can compare options, sanity-check assumptions, and move on.
Planning ahead
Build a forward-looking model. Change one variable at a time to see how sensitive the tdsr & msr output is to each input. The variable that moves the result most is where you should focus your real-world attention.
Cross-checking advisors
Compare what a professional or quoted source tells you against an independent calculation. Discrepancies are conversations worth having before signing.
Documentation
Capture inputs and outputs at a point in time. Screenshot the result with the date for audit trails, joint decisions, or future reference.
Learning intuition
By varying inputs, you build a sense of how tdsr & msr actually behaves. The numerical pattern teaches faster than reading prose.
Sensitivity analysis
Identify which input drives the result. The most-impactful variable is where small improvements pay off most.
Comparing alternatives
Run the same tdsr & msr calculation across multiple options and rank them by the dimension you care about (cost, return, speed, risk).
Pre-meeting preparation
Walk into a negotiation, sales call, or strategic discussion with the tdsr & msr numbers already in your head. Beats winging it from memory.
What the TDSR & MSR Calculator does and does not handle
What it does
- Applies the standard formula widely accepted in tdsr & msr-related calculations.
- Updates instantly as you adjust inputs - useful for sensitivity analysis and what-if scenarios.
- Runs entirely in your browser using JavaScript. Your inputs never reach a server.
- Handles common edge cases (zero values, very large numbers, negative inputs where applicable) with sensible defaults or validation messages.
- Works offline once the page is cached. No internet needed for repeat calculations.
- Free, unlimited use. No signup, no rate limits, no paywall.
What it does not handle (and where to go)
- Personal financial advice - the calculation gives you a number, not a recommendation. Speak to a qualified advisor for decisions with significant financial consequences.
- Country-specific rules where local variation is high - the tool uses the most common methodology; some jurisdictions have variations.
- Real-time market data when applicable - most calculations use static reference values. Live market prices are out of scope.
- Auto-filling from external accounts - all inputs are manual. Browser autofill works for repeated entries.
- Saving results across devices - all state lives in this browser session.
Common mistakes and pitfalls
- Using rough estimates as inputs. Garbage in, garbage out. The TDSR & MSR Calculator is only as accurate as what you type. Look up exact numbers from your statement, contract, or source document.
- Confusing units. Most fields are labeled (currency, percent, kg, etc.) but read the label before typing. A monthly figure entered into an annual field will be off by 12x.
- Ignoring the assumptions baked into the formula. Every calculator has assumptions (e.g., uniform growth rate, no fees, no taxes). Read the methodology section to understand what's included and what's not.
- Comparing without holding other variables constant. When testing options, change only ONE input at a time. Changing multiple inputs makes it impossible to tell which one drove the result.
- Treating the result as final. The output is a model. The real world adds fees, taxes, timing differences, and exceptions. Use the result as a starting point, not a final answer.
- Misreading rounded display. Most fields display 2 decimal places but compute at full precision. Two inputs that look identical may produce slightly different outputs.
Best practices for accurate results
- Pull exact values from authoritative sources (bank statement, payslip, official rate table, contract) rather than ballparking from memory.
- Match units carefully. Watch for monthly vs annual, gross vs net, percent vs basis points, USD vs INR.
- Run the calculation multiple times with slightly different inputs to see how sensitive the result is.
- Screenshot or note the inputs alongside the output for future reference - results change if rules or rates change.
- Cross-check against a professional source (advisor, accountant, official tool) for any decision with material impact.
- Update annually. Tax rates, contribution limits, and benefit thresholds change yearly. Rerun key calculations every January.