Payment Scheme

Normal Payment Scheme (NPS)

Also referred to as “Progressive Payment Scheme”, it means you only have to make payments for the property as the building stages progress. Up to the Foundation Stage the loan (if any) will not be disbursed yet, so only after that your monthly instalments for your loan will start and increase progressively along with the project being constructed.

StagePayment Under the Normal Payment Scheme (% of Purchase Price)Mode Of Payment
Upon the grant of Option to Purchase5% (Booking Fee)Cash
Upon signing of the Sale & Purchase Agreement or within 8 weeks from the Option date15%Cash or CPF
Completion of foundation work10%5% Cash of CPF, 5% Loan
Completion of reinforced concrete framework of unit10%Loan
Completion of partition walls of unit5%Loan
Completion of roofing/ceiling of unit5%Loan
Completion of door sub-frames/ door frames, window frames, electrical wiring, internal plastering and plumbing of unit5%Loan
Completion of car park, roads and drains serving the housing project5%Loan
TOP25%Loan
Legal Completion (CSC)15%Loan

Cash has to be paid first, followed by CPF, followed by housing loan. Buyer’s Stamp Duty and ABSD (if any) are payable to IRAS within two weeks after signing the Sales & Purchase Agreement.

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