What is the difference between MSR and TDSR?

What is the difference between MSR and TDSR?

What is the difference between TDSR and MSR? First of all, the MSR only applies to buyers of HDB property and ECs, while TDSR applies to all property loans, public or private. The main difference is that the TDSR takes into account ALL your loan repayments, including credit card debt.

Does MSR apply to HDB loan?

MSR is capped at 30% of a borrower’s gross monthly income. It applies only to housing loans for the purchase of an HDB flat, or an executive condominium where the minimum occupation period of the executive condominium has not expired.

Who does TDSR apply to?

It applies to loans for both residential and non-residential properties (e.g. industrial and commercial properties), and covers properties in and outside Singapore. TDSR rules apply to all loans applied on or after 29 June 2013.

What is TDSR in Singapore?

What is Total Debt Servicing Ratio (TDSR)? In a nutshell, the TDSR limits the amount that you can spend on your monthly debt repayments (student loans, car loans, personal loans, etc) to 60% of your gross monthly income.

What is the difference between tdsr and MSR?

Total Debt Servicing Ratio (TDSR) and Mortgage Servicing Ratio (MSR) Total Debt Servicing Ratio (TDSR) Mortgage Servicing Ratio (MSR). An explanation of these ratios since they were introduced as property cooling measures.

What does total debt servicing ratio ( tdsr ) mean?

Total Debt Servicing Ratio (TDSR) refers to the proportion of your monthly gross income that is spent on debt obligations. According to MAS policy, TDSR must not exceed 60%.

What do you need to know about tdsr in Singapore?

TDSR and MSR for Property Loan in Singapore. When applying for property loan with the banks, borrowers need to be aware that one of the mandatory assessments by banks is the Total Debt Servicing Ratio (TDSR). If the property you purchase is a HDB flat or Executive Condominium (EC), the banks will also look at your Mortgage Service Ratio (MSR).

How much tdsr do I have to pay per month?

According to MAS policy, TDSR must not exceed 60%. The monthly debt repayment covers loans from HDB, financial institutions and money lenders in the borrower’s name or jointly with another borrower, including the new loan, other existing property loans, car loan, renovation loan, personal/credit card loans, etc.