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Free Calculator · New Launch Condos

Your New Launch Payment Schedule, Stage by Stage

You make ten payments over four to five years, using cash, CPF and your bank loan. The first 5% of the purchase price must be cash. By week 8, you will have paid 20% of the purchase price — a 5% booking fee, then 15% more when you sign the Sale and Purchase Agreement (S&P). This tool shows every payment stage, from the booking fee to legal completion: what must be cash, what CPF can cover, when your bank loan starts, and how your monthly instalment grows once your loan starts, stage by stage.

Based on the standard payment schedule set by the Housing Developers Rules · stamp duty rates last checked 8 Jul 2026

Purchase

S$
yrs
Most projects: 3–4 years. CSC follows ~12 months after TOP.

Loan

Max LTV 75% · minimum 5% cash
%
Borrowing a smaller percentage lowers your interest cost — enter a new percentage and the payment schedule below updates to match.
% p.a.
yrs
A loan tenure longer than 30 years — or one that continues after you're 65 — can lower your maximum loan to 55%. This tool only checks tenure, so confirm any age-based limit with your bank.

Payment schedule

These dates are estimated from the years-to-TOP figure you enter — actual dates vary by project. The colours below show whether each stage is paid from cash, CPF or your bank loan. Once your bank loan starts, your instalment goes up stage by stage.

Cash CPF (or cash) Bank loan

Enter a purchase price to see your schedule.

How to read this schedule?

You fund the initial stages yourself. After that, the bank takes over. If this is your first home loan, the 5% booking fee must be cash, and the 15% signing payment can be cash or CPF. On a second or later loan, at least 25% must be cash. Stamp duty is due 14 days after you exercise the option. If ABSD applies to your purchase, stamp duty alone can be larger than any single payment in the schedule.

Every stage after the foundation is bank-funded, so your instalment increases with each stage. Because interest is only charged on what's been released, you only start to pay the full instalment at legal completion — about a year after you get the keys.

Ten payment stages under the Housing Developers Rules, and where the money comes from at a 75% loan — timing is approximate.
StageShare of pricePaid from
Booking fee5%Cash only
Signing the sale agreement15%Cash or CPF
Foundation complete10%5% cash/CPF, 5% loan
Concrete framework complete10%Loan
Partition walls5%Loan
Roofing and ceiling5%Loan
Doors, windows and wiring5%Loan
Car park, roads and drains5%Loan
Keys ready (TOP)25%Loan
Legal completion (CSC)15%Loan

What do buyers miss?

Buyers usually miss two things.

The quiet years. From the day you sign to the day you get your keys, you're paying a growing instalment on a home you can't live in yet — often on top of rent or another mortgage. Plan for that extra cost, on top of the total price.

The cost of selling early. Nothing stops you from selling early — but Seller's Stamp Duty is charged on the full selling price, up to 16%, if you sell within four years of purchase under the July 2025 rules. That stamp duty bill is usually large enough to wipe out any profit from selling early, so most buyers hold on until the four-year period ends instead.

If you're buying this property as an investment, the ROI calculator uses this same schedule to work out your interest cost. Not sure what you can afford? Use the affordability calculator first — your price will carry over to this calculator automatically.

Frequently asked questions

What are the standard payment stages?

There are ten stages, set by the Housing Developers Rules. First, a 5% booking fee in cash. Then 15% when you sign the sale agreement, within 8 weeks. Next, 10% when the foundation is done, and 10% when the concrete framework is done. After that, 5% each for the partition walls, roofing, doors and wiring, and roads and car parks. Finally, 25% when the keys are ready, and 15% at legal completion.

How much of it must be cash?

If this is your first home loan at 75%, the 5% booking fee is the only cash payment needed — the remaining 20% can come from your CPF Ordinary Account. A second or later loan needs at least 25% in cash. You can also pay stamp duty from CPF, though most buyers pay cash first and claim it back later.

When does the bank start paying?

Only after your own cash and CPF run out. At a 75% loan, your 25% covers the booking fee, the signing payment, and part of the foundation stage. Once that runs out, your bank pays out more of your loan whenever a stage of construction is completed — and each payout raises your monthly instalment.

Why is the full instalment only reached at legal completion?

Because 15% of the price is only paid at legal completion — which usually happens about a year after you get your keys. Until then, only part of your loan has been paid out, so your monthly instalment is smaller than the full instalment you'll reach at legal completion.

Can I sell before the keys are ready?

Yes — selling before you collect your keys is called a sub-sale. If you bought on or after 4 July 2025, Seller's Stamp Duty applies for four years at rates up to 16%, leaving you with little or no profit from the sale. Use our stamp duty calculator to check the numbers first.

Disclaimer This calculator is an educational example of the standard Progressive Payment Scheme, not financial advice. Your actual payment amounts and timing depend on your Sale & Purchase Agreement, and on when the developer's architect certifies each construction stage — real schedules often run earlier or later than the typical one shown here. How your loan is paid out, how interest builds up, and how much CPF you can use all vary by bank and by your own situation. Verify your exact schedule against your S&P Agreement and confirm financing details with your bank or lawyer before relying on any figure. PropertyInsider.sg disclaims liability for decisions made on the basis of this tool.

Talk it through with an advisor

A calculator gives you the number; it can't tell you what to do with it. If you want to work through what these figures mean for your own situation — budget, ABSD position, timing an HDB sale, or comparing launches against resale options — you can request a one-to-one consultation.

  • No obligation. The first conversation is about your goals.
  • Affordability and stamp duty worked out on your actual numbers.
  • Launch and tender alerts for the projects you shortlist.

Disclosure: advisory consultations are provided by Jamus Lee (CEA Reg. No. R065771E, ERA Realty Network Pte Ltd, Licence No. L3002382K), the publisher of PropertyInsider.sg, via JamusProperty.com. This is a separate service from our editorial research and has no influence over what we publish. See our editorial policy. Submitting this form shares your details with the advisory practice; see our privacy policy.

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