Payment Schemes
Normal Payment Scheme (NPS)
Under the Normal Payment Scheme (NPS), you make payments in stages as the EC developer completes different phases of construction. This helps to ease your cash flow since your mortgage repayments start small and rise gradually as the project nears completion.
| Construction Stage | % of Purchase Price | Notes |
|---|---|---|
| Option Fee | 5% (cash) | Paid when booking the unit. |
| Upon Signing the Sale & Purchase Agreement | 15% (cash/CPF) | Within 8 weeks from booking date. |
| Completion of Foundation Work | 10% | Paid via bank loan or CPF. |
| Completion of Reinforced Concrete Framework | 10% | |
| Completion of Brick Walls | 5% | |
| Completion of Ceilings | 5% | |
| Completion of Door Sub-frames, Window Frames, Plumbing | 5% | |
| Completion of Car Park, Roads, Drains | 5% | |
| Notice of Temporary Occupation Permit (TOP) | 25% | Keys are usually collected at this stage. |
| Upon Completion (CSC Issued) | 15% | Final payment upon legal completion. |
Deferred Payment Scheme (DPS)
The Deferred Payment Scheme is a financing arrangement where buyers pay a small upfront amount and delay the remainder (usually the main loan portion) until a fixed later date — typically 2 to 3 years after purchase.
This scheme was reintroduced by some developers (mainly for completed or near-completion ECs/private condos) to make it easier for buyers to upgrade or transition from an existing property without having to sell immediately.
However, note that new ECs under construction (i.e., those launched before Temporary Occupation Permit / TOP) cannot offer DPS — they must follow the Progressive Payment Scheme (PPS).
| Payment Milestone | % of Purchase Price | Mode of Payment | Notes |
|---|---|---|---|
| Upon Booking (Option Fee) | 5% | Cach | Paid upon signing the Option to Purchase (OTP). |
| Upon Signing Sale & Purchase (S&P) Agreement | 15% | Cash and/or CPF | Paid within 8 weeks from the option date. |
| Deferred Payment | 80% | Cash/CPF/Bank Loan | Payable only 2–3 years later, depending on the developer’s scheme terms. |
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