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.
|Stage||Payment Under the Normal Payment Scheme (% of Purchase Price)||Mode Of Payment|
|Upon the grant of Option to Purchase||5% (Booking Fee)||Cash|
|Upon signing of the Sale & Purchase Agreement or within 8 weeks from the Option date||15%||Cash or CPF|
|Completion of foundation work||10%||5% Cash of CPF, 5% Loan|
|Completion of reinforced concrete framework of unit||10%||Loan|
|Completion of partition walls of unit||5%||Loan|
|Completion of roofing/ceiling of unit||5%||Loan|
|Completion of door sub-frames/ door frames, window frames, electrical wiring, internal plastering and plumbing of unit||5%||Loan|
|Completion of car park, roads and drains serving the housing project||5%||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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