Progressive Payment Calculator

It’s an instalment payment scheme that applies to houses or apartments that are still under construction.

The stages or milestones for repayments are as follows:
Granting of Option to Purchase (OTP) - 5%
Signing of the Sale & Purchase Agreement - 15%
Completion of property foundation - 10%
Completion of unit’s reinforced concrete framework - 10%
Completion of unit’s brick walls - 5%
Completion of unit’s roofing / ceiling - 5%
Completion of unit’s electrical wiring, internal plastering, plumbing and installation of door and window frames - 5%
Completion of car park, roads and drains serving the housing project - 5%
Temporary Occupation Permit (TOP) - 25%
Certificate of Statutory Completion (CSC) - 15%

Yes, you can use your CPF for a progressive payment scheme, except for the booking fee payment. You’ll have to pay 5% of the purchase price in order to get your Option to Purchase (OTP). Keep in mind that this 5% payment has to be made in cash. You can use CPF after the mandatory cash component, which is determined by whether it’s your first or subsequent loan, as well as if you’re taking up to age 65 or beyond.