A HDB flat may be the biggest purchase you will make in your life. As such, even the smallest of details, such as choosing the type of loan is an important decision to make. Choosing between a bank loan or an HDB loan is not an easy decision. There are many factors to consider before making an informed choice. As such, we will walk you through the pros and cons of getting either an HDB Loan or a Bank Loan, so that you can evaluate which is better for you!

HDB loan eligibility criteria

Not everyone is eligible for a HDB Loan. To be eligible for a HDB Loan, you will have to first satisfy the following conditions:

• At least one buyer for the HDB is a Singapore citizen
• Have not taken two or more housing loans from HDB previously
• Average gross monthly household income is less than S$14,000

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