Payment Schemes

Choose either one: PPS or DPS

As an aspiring home owner at Piermont Grand, it is important to understand how your monthly housing loans are being serviced while you enjoy your time to the fullest at Piermont Grand.

There are 2 forms of payment scheme available for Piermont Grand: the Progressive Payment Scheme (PPS) and the Deferred Payment Scheme (DPS).

Progressive Payment Scheme (PPS)

The Progressive Payment Scheme (aka Normal Payment Scheme) allows you to service your loan via monthly installments progressively by different stages as the property is being built, allowing for gradual adjustments of the monthly loan installments throughout your loan period.

The table below summarises the Progressive Payment Scheme at Piermont Grand.

StagePayment Under Progressive Payment Scheme (% of Purchase Price)
Upon the grant of Option to Purchase5% (Booking Fee in Cash)
Upon signing of the Sale & Purchase Agreement or within 8 weeks from the Option date15% (Cash + CPF)
Completion of foundation work10% (5% to be cash or CPF due to 75% Loan-to-Value, payable after completion of foundation)
Completion of reinforced concrete framework of unit10%
Completion of partition walls of unit5%
Completion of roofing/ceiling of unit5%
Completion of door sub-frames/ door frames, window frames, electrical wiring, internal plastering and plumbing of unit5%
Completion of car park, roads and drains serving the housing project5%
Notice of Vacant Possession (TOP)25%
On Completion date15%

Deferred Payment Scheme

The Deferred Payment Scheme allows for EC home owners to start servicing their loans only when they receive the keys to their new unit. This form of payment scheme is particularly useful to home owners who currently own a HDB and are also servicing the monthly loans for their current HDB. This will allow for them to spread out their expenses without having to service both loans (HDB & EC) at the same time.

For further information regarding the Deferred Payment Scheme available for Piermont Grand, please visit the Deferred Payment Scheme calculator page on the calculations.

The table below summarises the Deferred Payment Scheme at Piermont Grand.

StagePayment Under Progressive Payment Scheme (% of Purchase Price)
Upon the grant of Option to Purchase5% (Booking Fee in Cash)
Upon signing of the Sale & Purchase Agreement or within 8 weeks from the Option date15% (Cash + CPF)
Notice of Vacant Possession (TOP)65% (5% to be paid via Cash/CPF first, while the rest of the 60% via Bank Loan)
On Completion date15%

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