<table>
  <tr>
    <th>Category</th>
    <th>HDB Loan</th>
    <th>Bank Loan</th>
  </tr>
  <tr>
    <td>Downpayment</td>
    <td>Smaller downpayment at 20%. 
Downpayment can be covered by a combination of cash and CPF OA</td>
    <td>Higher downpayment at 25% and 5% must be paid in cash</td>
  </tr>
  <tr>
    <td>Interest Rates</td>
    <td>Fixed at 0.1% above CPF rate. Current HDB loan rate is at 2.6%</td>
    <td>Variable, depends on market</td>
  </tr>
  <tr>
    <td>Eligibility</td>
    <td>Income ceiling of S$14,000 (S$21,000 for extended families). Can take loan up to 2 times. Requires at least 1 SC buyer</td>
    <td>No income ceiling, no loan number limit, available to anyone eligible to buy a HDB flat, including PR households for resale market</td>
  </tr>
  <tr>
    <td>Loan Tenure</td>
    <td>Loan tenure capped at 25 years</td>
    <td>Maximum loan tenure of 30 years</td>
  </tr>
  <tr>
    <td>Refinancing</td>
    <td>Can refinance to bank loan</td>
    <td>Cannot refinance to HDB loan</td>
  </tr>
  <tr>
    <td>Early Repayment</td>
    <td>No penalty on early repayment</td>
    <td>Penalty applies on early repayment</td>
  </tr>

</table>

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HDB loan vs. bank loan