EC Payment Schedule

Below is the breakdown of the Normal Progressive Payment Scheme.

Normal Progressive Scheme (NPS)

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

Deferred Payment Scheme (DPS)

In this case, after the 25% 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 an 75% loan. A banker will be arranged to explain the details beforehand.

Usually, the purchase price will be slightly higher (eg. 3% more) than the Normal Progressive Payment Scheme.

Read more on Affordability of an EC here