How you can split your downpayment into 2 instalments using the Staggered Downpayment Scheme

19 Aug 2016 

How you can split your downpayment into 2 instalments using the Staggered Downpayment Schemev1.pngCongrats on the purchase of your new flat! The next step to pay your downpayment of 10% (HDB loan) or 20% (bank loan) depending on your type of loan.  

With HDB's Staggered Downpayment Scheme, you will now only need to pay half the downpayment first when you sign the Agreement for Lease (usually within 4 months of booking the flat). You will only need to pay the other half of the downpayment upon the collection of your keys!


Do I qualify for this scheme?   

You are eligible for the Staggered Downpayment Scheme if you belong in either one of these two categories of flat buyers:


1.    First-timer couples 

Married couples and those applying under the Fiancé/ Fiancée Scheme that: 

  • Have booked an uncompleted 2-, 3-, 4-, or 5-room flat in any of HDB's sales exercises, and
  • Are both first-timer applicants, or a couple comprising a first-timer and second-timer, and
  • Submitted their flat application submitted on or before the younger applicant's 30th birthday


2.    Flat owners who right-size to 2-room or 3-room flats in non-mature estates 

Current flat owners can also qualify for the Staggered Downpayment Scheme if they: 

  • Bought an uncompleted 2- or 3-room flat in a non-mature estate under HDB's sales launches
  • Have not sold the existing flat, or the sale of the existing flat has yet to be legally completed at the point of flat application


How much do I need to pay during each instalment? 

Depending on whether you are taking a housing loan and if so, what kind of housing loan are you taking, the amount you need to pay will differ as above.


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