When calculating EHG grant for BTO, does it include 13th month and variable bonuses? - Seedly
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Asked 2d ago

When calculating EHG grant for BTO, does it include 13th month and variable bonuses?


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So the way about this calculation is simple.

For various grants, they will always take into account your taxable income.

Based on experience, most 13th month and bonus is taken into account as your taxable income, which means that they will be included and taken into consideration when applying for EHG grant.

To emphasize on the details of EHG again for the rest reading this question:

Who is the EHG for?

Couples and families with an average gross monthly household income not exceeding $9,000.

At least one applicant must be working for at least 12 months prior to the flat application.

Both HDB BTO and SBF, as well as Resale HDB flats, are eligible.

Can check it out here: https://blog.seedly.sg/hdb-cpf-grants-bto-vs-resale-flats#ehg


Question Poster

2d ago

Hi Ming Feng, thank you for your helpful response. Came across the website from HDB below, which indicated that bonuses are not considered for credit assessment, do you happen to know what this might be applicable for? https://www.hdb.gov.sg/cs/infoweb/residential/financing-a-flat-purchase/housing-loan-from-hdb/income-guidelines-and-other-documents
Yeap Ming Feng
Yeap Ming Feng

2d ago

Hey man! So for this portion, it is to check if you fulfil HDB's credit assessment. Which is going to impact how "smooth" your process is when receiving loan from HDB. With that, they want to ensure that you have got a stable income, and is continuously employed for at least 3 months if basic is fixed, or 6 months if basic is variable. They tend not to take into account bonuses, it might be because, imagine someone with very little stable income every month, but received a super huge lump sum bonus. That does not make him a credible person to dispatch a loan to.
Thank You!
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