What Does It Mean?
Total Debt Servicing Ratio (TDSR)
Total Debt Servicing Ratio (TDSR) is a framework that limits total monthly debt repayments (including the new mortgage) to 55% of gross monthly income. This prevents over-leveraging and applies to all property loans in Singapore.
Mortgage Servicing Ratio (MSR)
Mortgage Servicing Ratio (MSR) is a stricter limit applied only to HDB flats and Executive Condominiums. MSR caps the monthly mortgage payment at 30% of gross monthly income, separate from the TDSR limit.
How Is It Calculated?
Total Debt Servicing Ratio (TDSR)
With $12,000 gross income and zero existing debt: max mortgage payment = $6,600/month.
Mortgage Servicing Ratio (MSR)
With $12,000 gross income: max payment = $3,600/month (applies to HDB and EC only).
Worked Example
With a gross monthly income of $12,000 and no existing debt:
For private property, your maximum monthly mortgage payment is $6,600. For HDB or EC, the stricter MSR limit of $3,600/month applies.
Why It Matters
TDSR determines the maximum property you can afford. Many buyers discover too late that their existing car loan or credit card debt significantly reduces their borrowing capacity.
Where to Find This on ShiokNest
- TDSR / MSR Affordability Calculator
Look for the tooltip icon next to this metric on ShiokNest for a quick reminder of its definition.
Official Sources
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Frequently Asked Questions
What debts count towards TDSR?
Can I exceed the 55% TDSR limit?
This glossary article is auto-generated from ShiokNest's financial data and updated periodically. Rates and figures are current as of March 2026. Check official sources for the latest.