Progressive Payment Calculator Singapore 2026
Full BUC Milestone Schedule — Cash vs CPF vs Bank Loan, Construction Interest & Total Cost
Generate the complete Building Under Construction (BUC) progressive payment schedule for your Singapore new launch private property purchase. The standard NPS (Normal Progressive Payment Scheme) ties 10 payments to construction milestones — from the 5% option fee (cash only) to the 25% TOP payment and final 15% at legal completion. This calculator shows every milestone amount in S$, who pays it (you in cash, CPF OA, or your bank), the estimated construction interest accruing at each stage, and your total cost of ownership including lifetime mortgage interest.
LTV determines how much the bank lends vs your own funds. For a first private property with no outstanding HDB loan: max 75% LTV (25% down). If you still have an HDB loan: 55% LTV (45% down).
The 5% option fee is cash only (CPF not allowed). CPF can fund the remaining 15% of the down payment (for 25% LTV scenario). Enter S$0 if not using CPF for the down payment.
Standard Singapore new launch: 3–4 years to TOP. Legal completion follows 3–6 months after TOP. The milestone schedule is scaled proportionally to your expected TOP.
Enter your purchase price, LTV, CPF available, mortgage rate, and expected TOP month to generate the full BUC payment schedule with amounts, funding sources, and construction interest.
Singapore BUC Progressive Payment Scheme 2026 — All 10 Milestones, Who Pays & Construction Interest
The Normal Progressive Payment Scheme (NPS) ties payments to 10 verifiable construction milestones, certified by a qualified architect. When the developer obtains each milestone certification, they issue a Notice of Payment to the buyer — triggering either a cash/CPF payment (for the first two stages) or a bank loan drawdown. The bank then pays the developer directly for milestone stages 3–10 on your behalf — and you pay the bank interest on the progressively increasing outstanding balance during construction.
The 10 BUC Payment Milestones — Standard NPS Schedule
| # | Milestone | % | Payer | Approx. Timing |
|---|---|---|---|---|
| 1 | Option Exercise (Booking) | 5% | Cash only | Day 1 |
| 2 | Sign S&P Agreement | 15% | Cash / CPF | ~2 months |
| 3 | Foundation Completed | 10% | Bank loan | ~8 months |
| 4 | Reinforced Concrete Framework | 10% | Bank loan | ~14 months |
| 5 | Brick Walls Completed | 5% | Bank loan | ~20 months |
| 6 | Roofing / Ceiling Completed | 5% | Bank loan | ~24 months |
| 7 | Doors, Windows & Fittings | 5% | Bank loan | ~28 months |
| 8 | Carpark, Drains & Roads | 5% | Bank loan | ~32 months |
| 9 | TOP (Occupation Permit) | 25% | Bank loan | ~36 months |
| 10 | Legal Completion (CSC) | 15% | Bank loan | ~39 months |
Down Payment Rules: The 5% Cash Trap
| Component | Amount | Can Use CPF? | Timing |
|---|---|---|---|
| Option fee (Booking) | 5% of price | No — cash only | Immediately at booking |
| Balance DP (S&P signing) | 15% (for 75% LTV) | Yes — CPF OA | ~2 months after option |
| For 2nd property (45% down): 25% cash + 20% cash/CPF after option | |||
How This Progressive Payment Calculator Works
Step 1 — Enter Price, LTV and CPF
Enter your purchase price and select the applicable LTV (75% for a first private property, 55% if you have an existing HDB loan, 45% for a second property). Enter CPF OA funds available for the 15% down payment balance. The calculator allocates CPF to the S&P milestone (stage 2) and cash to the option fee (stage 1).
Step 2 — Set Mortgage Rate and Expected TOP
Enter the mortgage rate (or your In-Principle Approval rate) and loan tenure. Select the expected months to TOP (typical: 36 months). The milestone timings scale proportionally to your TOP estimate — a 48-month project stretches each stage accordingly.
Step 3 — Review Full Schedule and Totals
The full 10-milestone table shows every payment amount, funding source (cash/CPF/bank), and estimated construction interest at each stage. The stacked bar chart visualises the payment composition across all milestones. The summary shows total cash, CPF, bank drawdowns, construction interest, and total cost of ownership.
3 Real Singapore BUC Examples — First-Timer 75% LTV, Second Property & HDB Upgrader
S$1.5M, 75% LTV, No HDB
S$2M, 45% LTV (2nd Property)
S$1.2M, 55% LTV (HDB Upgrader)
3 Expert Tips — Prepare the 5% Cash, Budget for Construction Interest & TOP Surprise
The 5% Option Fee Must Be Cold Hard Cash — Set It Aside Before Viewing
Many first-time new launch buyers are caught off-guard: the 5% option exercise fee is entirely cash — no CPF, no bank loan. On a S$1.5M property, this is S$75,000 due within days of exercising the OTP. You cannot finance this amount after viewing — the OTP must be exercised typically within 3 weeks of the initial 1% booking fee. Prepare your full 5% cash before any showflat visit if you are serious about buying. If your cash is in fixed deposits or SSBs, check the withdrawal timeline: SSBs take 1 month to mature after redemption request. Failure to pay the 5% within the OTP window means forfeiting your 1% booking fee.
Budget for Construction Interest — It Is A Real Monthly Cost for 3–5 Years
New launch buyers often focus on the monthly instalment after TOP and forget the construction interest during the 3–5 year build period. On a S$1.125M loan at 3.5% with progressive drawdowns, construction interest is approximately S$65,000 over 36 months — S$1,800/month on average. This is a real monthly cash outflow while you are likely still paying rent or an HDB mortgage simultaneously. Budget: (1) your current housing cost; (2) construction interest (rising monthly as more loan is drawn); (3) the 5% option + 15% DP already paid. Only after TOP does the construction interest stop and the regular monthly instalment begin.
The 25% TOP Hit Is the Largest Single Payment — Plan 18 Months Ahead
Stage 9 (TOP) is the single largest milestone payment at 25% of the purchase price. On a S$1.5M property, this is S$375,000 drawn by your bank in one disbursement — triggering the full mortgage and monthly instalments. This is also the month your construction interest period ends and regular instalments begin. Many upgraders plan to sell their current HDB or condo to fund the next stages — start tracking your current property’s MOP and the new launch’s expected TOP 18–24 months in advance. If you need proceeds from your current property sale, the sale must complete before or at the same time as TOP — otherwise you need bridging finance.