Housing Loan Information

≤ 30 Years loan tenure >30 years loan tenure or extends past age 65
Maximum Loan Limit 80% 60%
Minimum Cash Downpayment 5% 10%

Buyer’s Stamp Duty

Nationality Buyer’s Stamp Duty Additional Buyer Stamp Duty(ABSD)
Singapore Citizen 3% – $5400 of Purchase Price Not Applicable for EC
Permanent Residents

 

Payment Scheme – Choose either ‘NPS’ or ‘DPS’

 

Normal Payment Scheme (NPS)

Normal Payment Scheme (NPS), also known as Progressive Payment Scheme, allows you to service your loan via monthly instalments progressively stage by stage as the property is being built. Use theNormal Payment Scheme Calculator to have a better understanding.

Stage Payment Under a Standard Payment Scheme (% of Purchase Price)
Upon the grant of Option to Purchase 5% (Booking Fee)
Upon signing of the Sale & Purchase Agreement or within 8 weeks from the Option date 15%
Completion of foundation work 10%
Completion of reinforced concrete framework of unit 10%
Completion of partition walls of unit 5%
Completion of roofing/ceiling of unit 5%
Completion of door sub-frames/ door frames, window frames, electrical wiring, internal plastering and plumbing of unit 5%
Completion of car park, roads and drains serving the housing project 5%
Notice of Vacant Possession (TOP) 25%
On Completion date 15%

Deferred Payment Scheme (DPS)

Deferred Payment Scheme (DPS) allows home owners to start servicing their loan only when the EC is ready for occupation, ie; when owners receive the keys to their EC. DPS is most popular amongst buyers who currently own a HDB and have monthly instalments to service. This allows them to better manage their finances as they do not have to service both loans (HDB & EC) concurrently. Use theDeferred Payment Scheme Calculator to have a better understanding.

Stage Payment Under a Standard Payment Scheme (% of Purchase Price)
Upon the grant of Option to Purchase 5% (Booking Fee)
Upon signing of the Sale & Purchase Agreement or within 8 weeks from the Option date 15%
Notice of Vacant Possession (TOP) 65%
On Completion date 15%