A new launch is paid on the progressive payment scheme, stage by stage as the building rises, with the bank drawing the loan only after your own money is spent. The simulator lays out every instalment, when the bank pays it, and how the monthly repayment climbs from foundation to TOP.
What you enter
- Price, loan-to-value, package rate and tenure
- Booking date, for approximate stage dates
What you get
- Each stage's amount, who pays it, and the month it falls due
- The loan drawn so far and the monthly at each stage
- Total interest before you collect keys
Worked example
$1,800,000 at 75% loan, 30 years, 3%
Monthly rises from $0 to $5,700 by TOP
- Your 25% paid by
- Reinforced concrete stage
- Bank draws begin
- Partition walls, month 18
- Monthly at TOP
- $5,690
- Interest paid before keys
- About $48,000
Illustrative, for a Singapore citizen couple, 35, first property, $12,000 a month between them, $250,000 cash and $200,000 in CPF Ordinary Account unless the case says otherwise. Your own numbers replace every figure the moment you use the tool.
The rule behind it, in prose: Buying a new launch condo: from the VVIP preview to the ballot, the booking and the keys.
Answers: progressive payment scheme calculator, BUC payment schedule, new launch instalments.
Also in Buy & Transact
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