Payment Schedule for reference.

There are different payment schedule for property purchase in Singapore.

Here we look into four different type of developments and different type of payment schedule.

Private Resale,

New Under Construction,

Executive Condo,

and HDB Resale.

From 6th July 2018, the maximum loan allow will be 75% instead of 80% of the purchase price.

New Private (Building Under Construction) Payment schedule

Since the development is still under construction, it will be base on progressive payment method.


The 1st 5% of the booking fee must be in cash, the next 20% can be from cash, CPF or loan. As for purchaser with existing mortgage loan, 1st 25% payment must in cash and maximum loan amount will be adjusted to 45% of purchase price.

Below is a payment schedule illustrated base on sales from developer. As for development using pre-fabrication construction method, collection of payment can be earlier and in a combination of stages. 

Estimated Timeline Percentage of Payment Stages Payment Methods
Booking day 5% Booking of unit Cash only
Within 8 weeks from OTP date 15% Balance payment Cash/ CPF
Within 14 days from OTP date   Received SnP from developer and exercise SnP within 21 days  
Within 14 days from exercising SnP Click here to check Stamp Duty amount Payment for stamp duty Cash/ CPF
Est. 6 to 9 months  5% and (5%) Completion of foundation works Cash/ CPF and (Cash/ CPF/ Loan)
Est. 6 to 9 months  10% Completion of reinforced concrete framework of the unit Cash/ CPF/ Loan
Est. 3 to 6 months  5% Completion of brick walls of unit Cash/ CPF/ Loan
Est. 3 to 6 months  5% Completion of ceiling and roofing of unit Cash/ CPF/ Loan
Est. 3 to 6 months  5% Completion of belectric wiring, internal plastering, plumbing, doors and window frames of unit Cash/ CPF/ Loan
Est. 3 to 6 months  5% Completion of carparks, roads and drains serving the housing project Cash/ CPF/ Loan
Est. 3 to 6 months  25% Notice of vacant possession (TOP) Cash/ CPF/ Loan
Est. 1 to 12 months  15% On certificate of statutory completion (CSC) Cash/ CPF/ Loan

Private Resale Payment Timeline

Since the property is already completed, it will be based on normal  payment schedule.
1st 5% must be in cash, the next 20% can be from cash, CPF or loan.

Below is an illustration base on Option to Purchase (OTP) date, for purchaser without any mortgage loan on hand.
As for purchaser with existing mortgage loan, 1st 25% payment must in cash and maximum loan amount will be adjusted to 45% of purchase price.

Estimated Timeline Percentage of Payment Stages Payment Methods
Booking day 1% Booking of unit Cash only
Within 14 days (before 4pm) 4% Exercise of Option Cash/ CPF
Within 21 days from OTP date   Exercise OTP  
Within 14 days from exercising OTP  Click here to check Stamp Duty amount Payment for stamp duty Cash/ CPF
Within 8 to 12 weeks from OTP date 20% Balance payment Cash/ CPF
Within 8 to 12 weeks from OTP date 75% Balance payment Cash/ CPF/ Loan

 

New Executive Condo Payment Timeline

Executive condo will be a development that is still under construction, but most developer will offer Normal progressive payment scheme as well as Deferred payment scheme.
The 1st 5% must be in cash, the next 20% can be from cash, CPF or loan. As for purchaser with existing mortgage loan, 1st 25% payment must in cash and maximum loan amount will be adjusted to 45% of purchase price.

Payment schedule illustrated is base on sales from developer. As for development who are using pre-fabrication construction method, collection of payment can be earlier and in a combination of different stages.

Normal Payment Scheme (NPS) for EC

Estimated Timeline Percentage of Payment Stages Payment Methods
Booking day 5% Booking of unit Cash only
Up to 6  weeks from OTP date NA Received approval letter from HDB
Within 14 days from HDB approval   Received SnP from developer and exercise SnP within 21 days  
Within 14 days from exercising SnP Click here to check Stamp Duty amount Payment for Stamp Duty Cash/ CPF
Within 9 weeks from OTP date 15% Balance payment Cash/ CPF
       
Est. 6 to 9 months  5% plus (5%) Completion of foundation works Cash/ CPF plus (Cash/ CPF/ Loan)
Est. another 6 to 9 months  10% Completion of reinforced concrete framework of the unit Cash/ CPF/ Loan
Est. another 3 to 6 months  5% Completion of brick walls of unit Cash/ CPF/ Loan
Est. another 3 to 6 months  5% Completion of ceiling and roofing of unit Cash/ CPF/ Loan
Est. another 3 to 6 months  5% Completion of belectric wiring, internal plastering, plumbing and doors window frames of unit Cash/ CPF/ Loan
Est. another 3 to 6 months  5% Completion of carparks, roads and drains serving the housing project Cash/ CPF/ Loan
Est. another 3 to 6 months  25% Notice of vacant possession (TOP) Cash/ CPF/ Loan
Est. 1 to 12 months from TOP 15% On certificate of statutory completion (CSC) Cash/ CPF/ Loan

Deferred Payment Scheme (DPS) for EC

Estimated Timeline Percentage of Payment Stages Payment Methods
Booking day 5% Booking of unit Cash only
Up to 6 weeks from OTP date NA Received approval letter from HDB
Within 14 days from approval from HDB   Received SnP from developer and exercise SnP within 21 days  
Within 14 days from exercising SnP Click here to check Stamp Duty amount Payment for stamp duty Cash/ CPF
Within 9 weeks from OTP date 15% Balance payment Cash/ CPF
TOP date  5% Notice of vacant possession (TOP) Cash/ CPF
TOP date  60% Notice of vacant possession (TOP) Cash/ CPF/ Loan
Est. 6 to 9 months  15% Completion of reinforced concrete framework of the unit Cash/ CPF/ Loan

Payment timeline for resale HDB

Payment schedule for purchasing a resale HDB

Click here to find out the usage of CPF