Below is the breakdown of the Normal Progressive Payment Scheme (NPS).

For EC, there is another option of the Payment Schedule called Deffered Payment Scheme (DPS).

In this case, after the 20% downpayment is done, the purchaser only start the monthly installment payment after TOP. If you currently own a HDB Flat, you have to dispose it before TOP or paid up the outstanding loan, if any, and dispose the flat within 6 months after TOP for the purpose of getting a loan up to 75% and usually with a Bridging Loan. A banker will be arranged to explain the details beforehand.

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Recap on the difference between NPS and DPS:

– DPS allows deferment of 80% payment till TOP is obtained.
– DPS do not require loan repayment before TOP.
– Purchase Price of DPS is usually higher than that of NPS.