Check your TDSR against the 55% MAS cap — with the 70% haircut on variable income and your total monthly debts.
Comfortably within a prudent range
You can take on up to $1,970 more in monthly debt before hitting the 55% cap.
Assessed income
$9,400
Total monthly debt
$3,200
Remaining debt capacity
$1,970
How this is worked out
Assessed income = $8,000 fixed + 70% × $2,000 variable ($1,400) = $9,400
TDSR = $3,200 ÷ $9,400 × 100% = 34.0%
Estimate for guidance only. Financial institutions apply their own credit assessment — confirm with MAS' TDSR rules before relying on a figure.
TDSR = (total monthly debt obligations ÷ gross monthly income) × 100%. It measures how much of your income already goes to repaying debt, including the new property loan being applied for.
A borrower's TDSR should be at most 55% of gross monthly income. This threshold, set by MAS, applies to property loans where the Option to Purchase is granted on or after 16 December 2021.
Only 70% of variable or rental income (commission, bonus, allowance, rental) counts towards TDSR. Financial institutions take the average of the preceding 12 months. Fixed salary is counted in full.
All outstanding obligations: property loans (incl. the new one), car loans, student loans, renovation loans, credit card balances, and any other secured, unsecured, or revolving loans.
Why it matters: property loans are large, long-term liabilities. TDSR limits ensure borrowers are not over-leveraged, strengthen credit underwriting, and encourage financial prudence — keeping the property market sustainable.
TDSR is the portion of a borrower's gross monthly income that goes towards repaying all monthly debt obligations, including the property loan being applied for. It is calculated as total monthly debt obligations divided by gross monthly income, expressed as a percentage.
A borrower's TDSR should be 55% or lower. The 55% threshold is a maximum set by MAS. Financial institutions may, on an exceptional basis, grant loans above the threshold subject to enhanced credit evaluation.
Only 70% of variable income — commission, bonus, allowance, and rental — is counted towards your assessed income. Financial institutions take the average of the variable income earned over the preceding 12 months. Fixed salary is counted at 100%.
All outstanding debt obligations are included: property-related loans (including the loan being applied for), car loans, student loans, renovation loans, credit card loans, and any other secured or unsecured loans, including revolving loans.
Any individual applying for a loan to purchase a property, or a loan secured by a property, is subject to TDSR. It does not apply to company loans, but a sole proprietor or an individual setting up a company solely to buy property is still assessed under TDSR rules.
Financial institutions must compute TDSR for any loan to purchase a property, any loan secured by a property, and any refinancing of these loans. It covers residential and non-residential properties, in and outside Singapore, for loans applied on or after 29 June 2013.
TDSR (55%) considers all your debt obligations and applies to all property loans. The Mortgage Servicing Ratio (MSR, capped at 30%) considers only the property loan and applies specifically to HDB flats and Executive Condominiums. Where both apply, the loan must satisfy the lower limit.