Payment Scheme

EC buyers will have to obtain loans from banks or financial institutions as HDB does not provide housing loans for the purchase of EC. The ceiling for bank loans is as follows:

Date of Booking (EC)Loan Ceiling
Date of booking on or after 20 Feb 201080% of purchase price

 

Normal Payment Scheme

(known as Progressive Payment Scheme)

StagePercentage
Upon the grant of Option to Purchase5% (Booking Fee)
Upon signing of the Sale & Purchase Agreement or within 9 weeks from the Option date15%
Completion of foundation work10%
Completion of reinforced concrete framework10%
Completion of brick walls5%
Completion of roofing /ceiling5%
Completion of electrical wiring, internal plastering, plumbing & installation of door & window frames5%
Completion of car park, roads & drains serving the housing project5%
Notice of Vacant Possession (TOP)15%
On Completion Date15%

 

Deferred Payment Scheme

StagePercentage
Upon the grant of Option to Purchase5% (Booking Fee)
Upon signing of the Sale & Purchase Agreement or within 9 weeks from the Option date15%
Notice of Vacant Possession (TOP)65%
On Completion Date15%

 

 

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