By MoneyBees
See what you pay at each stage when you buy a new private condo or EC under construction: the 5% booking fee, the rest of the downpayment in cash and CPF, then what the bank pays from each stage, with your monthly instalment as the loan is drawn.
Your MAS limit is 75%, with at least 5% in cash.
Cash you pay
$275,000
includes the $75,000 booking fee
From your CPF
$100,000
towards the downpayment
Bank loan
$1,125,000
75% of the price
You pay the first 25% yourself: the 5% booking fee in cash, then the rest by the S&P stage and, if needed, the next stages. The bank pays the later stages as the developer reaches them.
Your instalment grows as the loan is drawn: about $3,794.44 a month once TOP is paid, and $4,743.05 after the CSC stage, at 3% over 30 years.
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| Stage | % | Amount | Cash | CPF | Bank | Monthly instalment after |
|---|---|---|---|---|---|---|
| Booking fee, on the option | 5% | $75,000 | $75,000 | $0 | $0 | - |
| Signing the S&P, within 8 weeks of the option (9 for an EC) | 15% | $225,000 | $125,000 | $100,000 | $0 | - |
| Foundation work done | 10% | $150,000 | $75,000 | $0 | $75,000 | $316.20 |
| Reinforced concrete framework | 10% | $150,000 | $0 | $0 | $150,000 | $948.61 |
| Partition walls | 5% | $75,000 | $0 | $0 | $75,000 | $1,264.81 |
| Roofing or ceiling | 5% | $75,000 | $0 | $0 | $75,000 | $1,581.02 |
| Door and window frames, wiring, plastering, plumbing | 5% | $75,000 | $0 | $0 | $75,000 | $1,897.22 |
| Car park, roads and drains | 5% | $75,000 | $0 | $0 | $75,000 | $2,213.42 |
| Temporary Occupation Permit (TOP) | 25% | $375,000 | $0 | $0 | $375,000 | $3,794.44 |
| Certificate of Statutory Completion (CSC) | 15% | $225,000 | $0 | $0 | $225,000 | $4,743.05 |
Each stage after the S&P is due within 14 days of the developer's notice. Of the final 15%, 2% goes to the developer and 13% to the Singapore Academy of Law as stakeholder.
| Housing loans you owe | Loan limit | Minimum cash |
|---|---|---|
| None | 75% or 55% | 5% or 10% |
| One | 45% or 25% | 25% |
| Two or more | 35% or 15% | 25% |
The lower figures apply if the tenure is over 30 years or the loan runs past age 65.
A S$1.5 million condo with a 75% loan and no other loans. You pay the S$75,000 booking fee in cash. At the S&P you pay S$225,000: S$100,000 from CPF and S$125,000 in cash. The foundation stage is S$150,000: you pay the last S$75,000 of your downpayment and the bank pays S$75,000. From then on the bank pays every stage, S$1.125 million in all.
The booking fee is 5% to 10% of the price and must be paid in cash, because CPF cannot pay option fees. If you let the option lapse, the developer keeps 25% of it.
For an Executive Condominium the stages are the same, but the first 20% is due within 9 weeks of the option instead of 8. Deferred payment schemes for uncompleted private homes have been disallowed since October 2007.
Figures checked 3 Oct 2026.
The standard way to pay for a private home bought from a developer before it is built. You pay a share of the price at each construction stage set by the Housing Developers Rules, from the 5% booking fee to 15% at the Certificate of Statutory Completion.
20% on signing the S&P (including the booking fee), 10% at foundation, 10% at the concrete framework, 5% each for partition walls, roofing, door and window frames with wiring and plumbing, and car park, roads and drains, 25% at TOP and 15% at CSC.
No. CPF cannot pay option fees to developers, so the booking fee of 5% to 10% is cash. CPF can pay the later progressive payments, after any minimum cash the MAS rules require.
After you have paid your downpayment. With a 75% loan you pay the first 25% yourself; that covers the booking fee, the S&P stage and half of the foundation stage. The bank pays the rest stage by stage.
The S&P stage is due within 8 weeks of the option date (9 weeks for an EC). Each later stage is due within 14 days of the developer's notice.
The bank charges interest only on what it has paid out. Each time it pays a stage the loan grows, so the monthly instalment rises until the last stage is paid.
No. The Government has disallowed deferred payment schemes for uncompleted private homes since October 2007.
The stages and percentages are the same. The first 20% is due within 9 weeks of the option, and the booking fee is fixed at 5%.
These calculators provide general estimates for educational purposes only and are not personalised financial advice. Results may rely on rates and rules that change over time, so verify against official sources (IRAS, CPF Board, HDB, MAS) or consult a licensed financial adviser before making decisions.
Junxiong-WFG Organisation is an authorised representative of AIA Financial Advisers Private Limited (Reg. No. 201715016G).