The Normal Payment Scheme (NPS) is a common payment method for acquiring new condominiums. This scheme typically begins with an initial down payment of about 20% of the total price. Following this, buyers make progress payments at various stages of the construction process. This structured approach allows homeowners to manage their finances more effectively. By distributing payments over time, rather than making a large upfront investment. It is particularly appealing to first-time buyers, as it alleviates immediate financial pressure and secures their future home as it approaches completion.
Normal Payment Scheme (NPS)
This scheme is also known as the Progressive Payment Scheme. It allows you to service your loan via monthly installments, progressively stage by stage as the property is being constructed.
| Stages of Payment | Payment Under Standard Payment Scheme (Percentage of the Purchase Price) |
| Upon the granting of Option To Purchase (OTP) | 5% (Booking Fee) |
| Upon signing of the Sales & Purchase Agreement or within 8 weeks from the Option date | 20% less Booking Fee |
| Completion of foundation work | 10% |
| Completion of reinforced concrete framework of unit | 10% |
| Completion of partition walls of unit | 5% |
| Completion of roofing / ceiling of unit | 5% |
| Completion of door sub-frames / door frames, window frames, electrical wiring, internal plastering and plumbing of unit | 5% |
| Completion of car park, roads and drains serving the housing project | 5% |
| Notice of Vacant Possession (T.O.P.) | 25% |
| Legal Completion (CSC) | 15% |
