EC Deferred Payment Scheme

No Loan Repayment Is Required During The Construction Period

Deferred Payment Schedule for Buying New Launch Executive Condo

Make Instalment Payments Only After You Are Given Temporary Occupation Permit (TOP)

EC Deferred Payment Scheme allows EC Buyers to put down 20 per cent downpayment. The remaining 65 per cent is deferred until receiving a Notice of Temporary Occupation Permit (TOP). Or in simple terms, until the EC Executive condominium is ready to move into.

If EC Buyers opt for Deferred Payment Scheme, they do not need to handle two mortgage loans at the same time. It offers those with existing loan repayment some flexibility in managing their finances.

However, the purchase price for Buying the New Launch EC on EC Deferred Payment Scheme is usually 2-3% higher than the normal EC purchase price.

EC Deferred Payment Scheme (LTV 75%)

Stage%DescriptionWhen to Get ReadyPayment Mode
1st5%Booking & Obtaining Option To PurchaseDay 1Cash
Payment of Resale Levy

  • If the 1st subsidised flat already been sold. Payment at the HDB Branch, before EC Buyer sign the S&P.
  • If the 1st subsidised flat is not sold yet, pay upon the sale of the 1st subsidised flat, within 6 mths from the date of TOP
Buyer to engage solicitor (~ $3000)
Buyer to select the Mortgage Loan (Stamp fee ~$500)
Buyer to submit documents to HDB
Buyer's Stamp DutyWithin 2 weeks upon signing S&PCash or CPF OA
15%DownpaymentWithin 9 weeks from Date of OptionCash or CPF OA
2nd5%Completion of Foundation Work
Cash or CPF OA
5%Bank Loan
10%Completion of Reinforced Concrete
Bank Loan
5%Completion of Brick Wall
Bank Loan
5%Completion of Ceiling / Roofing
Bank Loan
5%Completion of Doors & Windows Frames are in position, the Electrical Wiring & Plumbing & Internal Plastering
Bank Loan
5%Completion of Car Park, Roads and Drains
Bank Loan
25%Obtaining Temporary Occupation Permit (TOP)
Bank Loan
3rd15%Upon Production of the Certificate of Statutory Completion (CSC)
Bank Loan
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