Progressive Payment Calculator

The progressive payment scheme deals with houses/apartments that are in the process of being built. You pay progressively at specific milestones, specifically:

1. Upon the grant of option to purchase (booking fee) - 5%
2. Upon the signing of the Sale & Purchase Agreement, or within 8 weeks from the Option date - 15%
3. Completion of foundation work - 10%
4. Completion of reinforced concrete framework of unit - 10%
5. Completion of brick walls of unit - 5%
6. Completion of roofing / ceiling of unit - 5%
7. Completion of electrical wiring, internal plastering, plumbing and installation of door and window frames of unit - 5%
8. Completion of car park, roads and drains serving the housing project - 5%
9. Temporary Occupation Permit (TOP) - 25%
10. Certificate of Statutory Completion (CSC) - 15%

Yes, you can use your CPF for a progressive payment scheme, except for the payment of the booking fee. You’ll have to pay 5% of the purchase price in order to get your hands on that Option to Purchase (OTP). This 5% payment has to be made in cash. You can use CPF after the mandatory cash component. The mandatory cash component is determined by whether this is the first or subsequent loan and also if you are taking up to age 65 or beyond.