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What will happen to my Home Protection Scheme cover if I make a partial repayment of my loan?

We will automatically adjust your Home Protection Scheme (HPS) cover accordingly if:

  1. You made a partial repayment towards your HDB loan, regardless of whether you used cash or CPF savings to do so, or
  2. You made a partial repayment towards your bank loan, using CPF savings.

However, if you have taken a bank loan and have used cash for the partial repayment, please apply online using your Singpass after your bank has recognised the partial repayment. We will then write to your bank to obtain your latest loan details. It is important to inform us of any partial repayment made in cash, so we can make the necessary adjustment to your HPS cover. Otherwise, you may end up being over-insured or under-insured, which would not be to your benefit.

Once the adjustment is made, your existing HPS cover will end, and any unused premium will be paid to your CPF Ordinary Account (OA). You will be issued a new HPS cover based on the latest loan details after partial repayment. The premium for the new cover will be deducted from your OA.