Progressive payments calculator
The progressive payment scheme is for properties that are in the process of being built. This scheme refers to payment by installments, with each payment made when a specific milestone of the development is reached. Fill in your details in the calculator below to see your progressive payment breakdown.
Progressive Payment Calculator has been updated according to new marginal buyer stamp duties which came in effect on 27th April 2023. You can find out more information about the new marginal buyer stamp duties here
Progressive payments calculator 2025
Option to Purchase (5%)
S$ 25,000
Sale and Purchase (15%)
S$ 75,000
BSD
S$ 9,600
5% cash/CPF (S$ 25,000) 5% loan for 6 months
After 6 months for 6 months
After 1 year for 6 months
After 1 year 6 months for 3 months
After 1 year 9 months for 3 months
After 2 years for 3 months
After 2 years 3 months for 3 months
After 2 years 6 months for 1 year
After 3 years 6 months for 27 years
Progressive Payment Calculator has been updated according to new marginal buyer stamp duties which came in effect on 27th April 2023. You can find out more information about the new marginal buyer stamp duties here
What is a Progressive Payment Calculator?
A progressive payment calculator is a useful tool designed to help property buyers estimate their payment schedule when purchasing a property under construction in Singapore. This calculator breaks down the total cost into manageable payments aligned with the construction milestones of the property. It simplifies financial planning by providing insights into how much you need to pay at each stage, including initial down payments, stamp duties, and monthly loan repayments.
How to Use a Progressive Payment Calculator
Using a progressive payment calculator is straightforward:
- Input Property Price: Enter the purchase price of the property.
- Select Loan Details: Provide information on your loan-to-value (LTV) ratio, interest rate, and loan tenure.
- Additional Costs: Include Buyer Stamp Duty (BSD), Additional Buyer Stamp Duty (ABSD), and legal fees.
- View Breakdown: The calculator will display the payment schedule, showing how much you need to pay at each construction milestone.
This tool is invaluable for buyers of new launch properties as it provides clarity on financial commitments and helps manage cash flow effectively.
What is the Progressive Payment Scheme (PPS)?
The Progressive Payment Scheme (PPS) is a financing arrangement for properties still under construction, commonly known as Buildings Under Construction (BUC). Instead of paying the full purchase price upfront, buyers make payments in stages aligned with key construction milestones.
Benefits of the Progressive Payment Scheme
The PPS offers several advantages:
- Cash Flow Management: Payments are spread out over time, making it easier for buyers to manage finances without requiring large upfront sums.
- Lower Initial Monthly Repayments: Buyers only start paying monthly installments once construction milestones are met and loans are disbursed.
- Consumer Protection: Payments tied to construction progress ensure developers adhere to timelines, reducing risks for buyers.
- Flexibility: Buyers can plan their finances around predictable payment schedules.
Challenges to Consider
While PPS offers many benefits, there are potential challenges:
- Construction Delays: Delays can impact financial planning as payments may be postponed.
- Interest Rate Fluctuations: Floating interest rates during the construction period may affect monthly repayments.
- Stamp Duties and Fees: Buyers must account for BSD, ABSD, and legal fees upfront.
How to Calculate Progressive Payments Manually
If you prefer manual calculations:
- Determine the property price and calculate initial payments like booking fees (5%) and downpayment (15%).
- Break down subsequent payments based on construction milestones using percentages specified in PPS guidelines.
- Factor in loan disbursements at each stage and calculate monthly installments using your bank’s interest rate.
Frequently Asked Questions
What is the Progressive Payment Scheme (PPS)?
The Progressive Payment Scheme (PPS) is a payment structure used for properties under construction, also known as Buildings Under Construction (BUC). It allows buyers to pay for the property in stages, aligned with construction milestones, rather than paying the full amount upfront. This scheme helps manage cash flow and reduces the initial financial burden.
Can I use CPF savings for payments under PPS?
Yes, you can use CPF Ordinary Account savings to make payments under PPS for new launch properties in Singapore. However, certain payments like the booking fee must be made in cash.
Can I switch to a different payment scheme after choosing PPS?
No, once you opt for PPS, you cannot switch to another payment scheme during the purchase process.
