Creative Works
Progressive Payment Calculator Singapore ( For New Launch Condo)
This Calculator will take into consideration Applicant TDSR Limit / individual Buyer LTV Loan Limit / Joint Buyer Income Weight Age Average to size up the maximum Loan Amount and tenor Period which individual Applicant or Joint Applicant are being categorized
This Progressive Payment Calculator Singapore will help you calculate New Launch private Condo progressive payment .The Calculator take into account Buyer Stamp Duty (BSD ) , Additional Buyer Stamp Duty (ABSD) in its Calculation.
Progressive Payment apply to Private Residential which are still under construction. The Buyer will pay the installment base on the Building Construction Progress.
For New Launch Condo , buyer are required to pay Up front 5% of the Property Price in cash for OTP ( Option to Purchase ) ,
and 15% down payment in Cash or CPF to exercise OTP.
After that buyer will be able to participate Progressive Payment Installment base on Building Construction reaches a particular milestone . Refer URA website for further details
Private Property Developer normally follow Progressive Payment rules set by Government Agencies,
Stage One : ( Before Commence of Monthly Loan Repayment )
(1) Buyer are Required to pay a booking Fee of 5%
(2) After Buyer Paid and clear booking Fee, developer are required to sent Sale sand Purchase Agreement within 14 Days
(3) Buyer are given 3 Weeks to decide whether to exercise OTP by signing Sales and purchase Agreement
(4) Buyer Signed the Contract and are required to pay 15% within 8 weeks of the option date
(5) At this Stage the Buyer already pay 20%
(6) Buyer will need to secure a ban k loan between 75% to 80%
Stage Two : ( Monthly Loan Repayment )
The Repayment Funds are disbursed from your bank loan . Payment will gradually increase base on Construction Progress
You can use the Progressive Payment Calculator Singapore to calculate
| Construction Stage | Percentage% of Property Price Disbursed |
| Foundation work | 10% |
| Reinforced concrete work | 10% |
| Walls | 5% |
| Ceiling | 5% |
| Doors and windows | 5% |
| Car Parks | 5% |
| Temporary Occupation Permit (TOP) | 25% |
| Statutory Completion | 15% |
During every Single stages , developer will send buyer notification on the construction progress.
For Example a Married Singaporean Couple
Profile as below:
Citizenship : Singaporean
Property Ownership : 1st Property
Property Price : 1 million
loan Tenor : 30 Years
loan Interest: 1.8%
| Expense Description | Amount |
| Booking Fee 5% | S$50,000 |
| Down Payment 15% | S$ 150,000 |
| Basic Stamp Duty | S$24600 |
| Additional Buyer Stamp Duty | S$0 |
| Legal Fee | S$3500 |
| Mortgage Document | S$500 |
| Admin Fee | S$500 |
| Foundation 10% | S$100000 |
| Reinforce Concrete 10% | S$100000 |
| Walls 5% | S$50000 |
| Ceiling 5% | S$50000 |
| Doors and Windows 5% | S$50000 |
| Car Parks 5% | S$50000 |
| Temporary Occupation Permit (TOP) 25% | S$250,000 |
| Statutory Completion 15% | S$150,000 |
