Build your payment schedule
New ECs are paid for in stages tied to construction milestones, with the bank loan released progressively behind your own cash and CPF. The two schemes differ only in timing: the Normal Progressive Scheme (NPS) spreads payments across the build, while the Deferred Payment Scheme (DPS) collects 20% upfront and defers the rest to completion for a higher price.
Progressive payment schedule
Total payable
S$1,600,000
Paid before construction stages begin
S$320,000
Deferred to TOP and CSC
S$640,000
| Stage | Share | Amount | When |
|---|---|---|---|
| Option fee (booking) | 5% | S$80,000 | Booking day |
| Signing the Sale & Purchase Agreement | 15% | S$240,000 | Within 8 weeks of booking |
| Completion of foundation | 10% | S$160,000 | Construction |
| Reinforced-concrete framework | 10% | S$160,000 | Construction |
| Brick walls | 5% | S$80,000 | Construction |
| Ceiling and roofing | 5% | S$80,000 | Construction |
| Doors, windows, wiring and plumbing | 5% | S$80,000 | Construction |
| Car park, roads and drains | 5% | S$80,000 | Construction |
| Temporary Occupation Permit (TOP) | 25% | S$400,000 | Keys collected |
| Certificate of Statutory Completion | 15% | S$240,000 | About 12 months after TOP |
Stage percentages follow the standard Singapore progressive payment schedule for uncompleted private housing and ECs; CDL’s actual Sale & Purchase terms prevail. Loan disbursement normally starts from the foundation stage.
Normal Progressive Scheme stage by stage
| Stage | Share of price | Cumulative |
|---|---|---|
| Option to Purchase (booking) | 5% | 5% |
| Sale & Purchase Agreement (within 8 weeks) | 15% | 20% |
| Completion of foundation | 10% | 30% |
| Reinforced concrete framework | 10% | 40% |
| Brick walls | 5% | 45% |
| Ceiling / roofing | 5% | 50% |
| Doors, windows, electrical wiring, plumbing | 5% | 55% |
| Car park, roads, drains | 5% | 60% |
| Temporary Occupation Permit (TOP) | 25% | 85% |
| Certificate of Statutory Completion (CSC) | 15% | 100% |
Under NPS the bank loan starts disbursing at the foundation stage. With a 75% loan, your 25% equity is used first: 5% cash at option, 15% cash or CPF at S&P, and the remaining 5% at foundation. The bank then releases each stage payment, and your instalment grows as the loan is drawn, so interest is paid only on the amount disbursed.
Deferred Payment Scheme
| Stage | Share of price | Cumulative |
|---|---|---|
| Option to Purchase (booking) | 5% | 5% |
| Sale & Purchase Agreement (within 8 weeks) | 15% | 20% |
| Temporary Occupation Permit (TOP) | 65% | 85% |
| Certificate of Statutory Completion (CSC) | 15% | 100% |
DPS suits upgraders who still own an HDB flat: you pay 20% now, keep servicing your existing mortgage, and only take the EC loan around TOP, when the flat can be sold. The trade-off is the premium and the risk that your income or interest rates have changed by the time the loan is assessed near completion. Most buyers at recent old-rule launches chose DPS.
Cash versus CPF at each stage
- Option fee (5%): cash only, under both schemes.
- S&P (15%): cash or CPF Ordinary Account; most buyers use CPF here to preserve cash.
- Buyer’s Stamp Duty: due within 14 days of exercising the S&P, payable from CPF OA or cash, and outside the schedule above.
- Remaining stages: funded by the bank loan once your 25% equity is exhausted; the instalment can be serviced from CPF OA.
- DPS: the 65% TOP payment is largely the bank loan, so approval must be secured before TOP rather than at booking.
Which scheme to choose
- 1
Still own an HDB flat and need its proceeds
DPS avoids servicing two loans at once. Factor in the premium, and the resale levy if you are a second-timer.
- 2
Renting or already sold
NPS is cheaper overall and lets you lock in loan approval at booking rather than closer to 2030.
- 3
Unsure about future income
NPS removes the risk of a lower loan quantum at TOP. Run both scenarios through the max loan calculator first.