The downpayment for an HDB flat depends almost entirely on which loan you take, and the gap between the two options is bigger than most first time buyers expect.
HDB loan vs bank loan downpayment
| Item | HDB loan (resale) | Bank loan |
|---|---|---|
| Loan to Value (LTV) | 80% | 75% |
| Downpayment | 20% | 25% |
| Minimum cash | None, can be all CPF or cash | 5% of price, must be cash |
For a BTO flat specifically, the HDB loan's LTV rises to 90% (5% cash plus 5% cash or CPF), against a bank loan still at 75% for BTO (5% cash plus 20% cash or CPF).
Worked example
On a $600,000 resale flat with an HDB loan, the 20% downpayment is $120,000, and it can come entirely from CPF Ordinary Account savings, no cash required. The HDB loan caps LTV at 80%, so you borrow $480,000. With a bank loan instead, the 25% downpayment is $150,000, of which at least $30,000 (5%) must be cash, and you borrow $450,000 at 75% LTV.
The catch
Switching from an HDB loan to a bank loan is possible anytime. Switching back from a bank loan to an HDB loan is permanently blocked, so the decision at the start is not fully reversible.
Frequently asked questions
Can I use all CPF and no cash for an HDB loan downpayment?
Yes, for a resale flat on an HDB concessionary loan, the 20% downpayment has no mandatory cash component; it can come entirely from your CPF Ordinary Account if you have enough. A bank loan requires at least 5% in cash.
Can I switch from a bank loan back to an HDB loan later?
No. You can switch from an HDB loan to a bank loan at any time, but the reverse, switching from a bank loan back to an HDB concessionary loan, is permanently blocked.
Deciding between an HDB loan and a bank loan?
Winfred models both against your actual CPF balance and cash position before you commit.
Book a free 30 minute callWinfred Quek is an Associate Marketing Consultant at Crestbrick Pte Ltd (CEA Licence No. L31010886H). CEA R073319H. This page is for general information only and does not constitute financial, investment, or legal advice. Rates and rules reflect the position as at 5 Aug 2026; verify current figures with IRAS, HDB, or MAS before making any decision.