What is the Progressive Payment Scheme?

For uncompleted new launch properties, payments are staged against construction milestones under the Housing Developers Rules: 5% booking fee in cash, 15% on signing the S&P within 8 weeks, then 10% at foundation, 10% at framework, 5% each at partition walls, roofing, doors/wiring and roads/carparks, 25% at TOP and the final 15% at CSC.

How much cash do I need upfront for a new launch condo?

By roughly week 8 you will have paid 20% of the price — a 5% booking fee that must be cash, plus 15% at S&P signing payable in cash or CPF — and Buyer's Stamp Duty (plus any ABSD) falls due 14 days after exercising. On a S$2 million purchase with 75% LTV, that is about S$400,000 in downpayment plus roughly S$69,600 of BSD before construction even starts.

When does my home loan start being disbursed?

The bank disburses only after your cash and CPF portion is fully paid. At 75% LTV, your 25% equity covers the booking fee, S&P payment and part of the foundation stage; the loan funds the remainder from there, and your monthly instalment begins with the first drawdown and grows with each subsequent stage.

Why does the monthly instalment increase over time?

Because the loan is disbursed progressively, you only service the amount drawn so far. Each construction milestone triggers a new drawdown, and the instalment is recalculated on the larger outstanding balance — reaching the full amount only at CSC, roughly a year after TOP.

How long does a new launch take to reach TOP?

Typically three to four years from launch, with the Certificate of Statutory Completion following around twelve months after TOP. Stage timings vary by project — the timeline in this calculator is indicative, scaled to the TOP date you enter.

Progressive Payment Calculator Singapore — New Launch Condo Schedule

When the money actually leaves

A new launch is not one payment — it is ten, spread over four to five years and drawn from three different pockets. This calculator maps every stage from booking fee to CSC: what is cash, what can be CPF, when the loan starts drawing down, and how your monthly instalment grows with the building.

Standard schedule under the Housing Developers Rules · stamp duty rates verified 8 Jul 2026

Purchase

Purchase price

Estimated years to TOP

yrs

Most projects: 3–4 years. CSC follows ~12 months after TOP.

Buyer profile (for stamp duty)

This purchase is your…

Loan

Which housing loan is this?

Max LTV 75% · minimum 5% cash

Loan percentage

Borrow less to reduce interest — the schedule adjusts.

Interest rate

% p.a.

Loan tenure

yrs

Over 30 yrs, or past age 65, drops LTV to 55%.

Payment timeline

Stage timings are indicative, scaled to your TOP estimate — every project differs. Red dots are equity stages (cash/CPF); navy dots are loan drawdowns that raise your instalment.

Cash CPF (or cash) Bank loan

Enter a purchase price to draw your timeline.

Reading your schedule

The Progressive Payment Scheme front-loads your own money and back-loads the bank's. The 5% booking fee must be cash; the 15% at S&P signing can be cash or CPF; and stamp duty — often the largest single cheque of the whole purchase for second-property and foreign buyers — lands just 14 days after you exercise. At 75% LTV, your full 25% equity is consumed somewhere around the foundation stage, and every milestone after that is a bank drawdown. That is why the instalment column grows: you service only what has been disbursed, reaching the full mortgage only at CSC, about a year after TOP.

What buyers miss

Two things, usually. First, the quiet years: between exercise and TOP you are paying a growing instalment on a home you cannot occupy, while possibly still paying rent or an existing mortgage — budget for the overlap, not just the totals. Second, the schedule is also the reason sub-sale flipping got expensive: sell before TOP and you have paid perhaps 40–60% of the price yet owe SSD of up to 16% on the full value under the July 2025 rules. If the purchase is an investment, run the same numbers through the ROI calculator, which reuses this exact schedule to compute your interest cost. And if you have not fixed the price yet, start from the affordability calculator and let it hand the figure over.

Frequently asked questions

What are the standard progressive payment stages?

5% booking fee (cash), 15% on signing the S&P within 8 weeks, 10% at foundation completion, 10% at reinforced concrete framework, 5% each at partition walls, roofing/ceiling, doors/windows/wiring, and roads/carparks/drains, then 25% at TOP and 15% at CSC — per the Housing Developers Rules.

How much of it must be cash?

The 5% booking fee is always cash. For a first loan at 75% LTV, the minimum cash component is 5% of the price; the remaining 20% of the downpayment can come from CPF OA. Second and subsequent loans require at least 25% cash. Stamp duty can be paid with CPF for residential property, though it is often paid in cash first and reimbursed.

When does the loan start disbursing?

Only after your cash and CPF equity is fully used. At 75% LTV your 25% covers booking, S&P and part of foundation; from there each milestone certificate triggers a bank drawdown, and your instalment is recalculated on the higher balance.

Why is the final instalment only reached at CSC?

Because 15% of the price — the last drawdown — is only paid at the Certificate of Statutory Completion, typically around twelve months after TOP. Until then you are servicing a partial loan.

Can I sell before TOP?

Yes — a sub-sale — but for properties purchased on or after 4 July 2025 the SSD holding period is four years with rates up to 16%, which usually erases sub-sale profits. Check the numbers in our stamp duty calculator before assuming an early exit is viable.

Talk it through with an advisor

A calculator gives you the number; it can't tell you what to do with it. If you want to work through what these figures mean for your own situation — budget, ABSD position, timing an HDB sale, or comparing launches against resale options — you can request a one-to-one consultation.

No obligation, and no pressure to transact — the first conversation is about your goals, not a product.

Personalised affordability and stamp-duty scenarios based on your actual numbers.

Launch and tender alerts for the specific projects you shortlist.

Disclosure: advisory consultations are provided by Jamus Lee (CEA Reg. No. R065771E, ERA Realty Network Pte Ltd, Licence No. L3002382K), the publisher of PropertyInsider.sg, via JamusProperty.com. This is a separate service from our editorial research and has no influence over what we publish — see our editorial policy. Submitting this form shares your details with the advisory practice; see our privacy policy.

Purchase

Loan

Payment timeline

Reading your schedule

What buyers miss

Frequently asked questions

Talk it through with an advisor

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