Yahoo Finance Buying via BTO, SBF or Open Booking? Everything you need to know about the payment timeline
Buying a new HDB flat is almost a rite of passage for new couples in Singapore. But with the excitement of owning a home, comes the scary part: the payment timeline to pay for the flat.
That’s why our top advice for prospective homebuyers is to make sure that their finances are sorted before applying for a new flat from HDB (whether it’s via BTO, Sales of Balance Flats or Open Booking). This ensures that they’re able to afford the payments when they’re due.
For that reason, we’ve come up with this little cheat sheet summarising the payment timeline to help you figure out what you’re in when you sign the dotted line.
(Specifically for Open Booking of Flats, given that you can book for a flat as early as the next working day, you’ll need to get the HDB Loan Eligibility (HLE) letter before the application.)
HDB BTO, SBF and Open Booking payment timeline
Stage of purchase | Fees payable | Amount payable | Payment mode |
|---|---|---|---|
BTO application | Application fee | S$10 | Credit card or mobile payment app (eg. DBS PayLah!, UOB TMRW, OCBC Pay Anyone, etc.) |
Flat booking | Option fee (forms part of the downpayment) | 2-room Flexi: S$500 | NETS |
Signing of Agreement for Lease | First S$180,000: 1% | GIRO, PayNow, AXS, internet banking, SingPost, cheque | |
Conveyancing fee (also known as legal fee) | First S$30,000: S$0.90 per S$1,000 | ||
Downpayment | If taking HDB loan: 10% of purchase price, with CPF or cash | ||
Key collection | Registration fee | Lease In-Escrow: S$38.30 | Cashier's Order, CPF |
Survey fee | 1-room: S$162 | ||
Stamp duty for Deed of Assignment | 0.4% of the loan amount, up to S$500 | ||
Home Protection Scheme (HPS) annual premium | If you’re using CPF to pay for loan instalments, depends on factors like outstanding loan | ||
Fire insurance | If you’re taking HDB loan. | ||
Downpayment | For flat applications received between 16 Dec 2021 and 29 Sep 2022: 5% of purchase price, with CPF or cash | ||
Balance of purchase price | This will be covered by the home loan if you’re taking it | ||
Calculate how much you can afford with 99.co’s affordability calculator!
Here’s an illustration for taking an HDB loan
Let’s take the example of newlywed couple Mark and Sophie, who are both Singapore Citizens in their 20s.
They are first-timer applicants with a combined income of S$8,000/month. They’re looking to purchase a 4-room BTO Flat, with a purchase price of S$500,000.
In addition, they qualify for the Staggered Downpayment Scheme (SDS), and will be financing their purchase with an HDB loan which will cover up to 80% of the purchase price (for flat applications from 30 September 2022, in line with the recent cooling measures), for a term of 25 years. With a loan-to-value (LTV) ratio limit of 80%, this means their loan amount will be S$400,000.
They also intend to service their loan instalments using their CPF savings.
Stage of purchase | Fees payable | Amount payable |
|---|---|---|
BTO application | Application fee | S$10 |
Flat booking | Option fee (forms part of the downpayment) | 4-room: S$2,000 |
Signing of Agreement for Lease | S$9,600 | |
Conveyancing fee | S$338.04 (after rounding up and applying 8% GST) | |
Downpayment less option fee | 5% of purchase price minus option fee: S$23,000 | |
Key collection | Registration fee | Lease In-Escrow: S$38.30 |
Survey fee | 4-room: S$297 | |
Stamp duty for Deed of Assignment | S$500 | |
Home Protection Scheme (HPS) annual premium | S$254 | |
Fire insurance for 5 years | 4-room: S$5.99 | |
Downpayment (for Staggered Downpayment Scheme) | 15% of purchase price (for BTO application after 29 Sep 2022): S$75,000 | |
Balance of purchase price | Loan amount: | |
Total | S$511,081.63 |
Calculate how much you need to pay for the BSD 99.co’s stamp duty calculator!
If you’re taking a bank loan for the BTO flat
Now let’s see how the finances work out if they were to take out a bank loan with a 30-year tenure. Since it’s their first loan, they are entitled to a loan of up to 75% of the purchase price. This means the loan amount will be S$375,000
In this case, they decide to go with legal counsel that their bank recommends, at a cost of S$2,500.
Stage of purchase | Fees payable | Amount payable |
|---|---|---|
BTO application | Application fee | S$10 |
Flat booking | Option fee (forms part of the downpayment) | 4-room: S$2,000 |
Signing of Agreement for Lease | S$9,600 | |
Legal fees | S$2,500 | |
Downpayment less option fee | 10% of purchase price minus option fee: S$48,000 | |
Key collection | Registration fee | Lease In-Escrow: S$38.30 |
Survey fee | 4-room: S$297 | |
Stamp duty for Deed of Assignment | S$500 | |
Home Protection Scheme (HPS) annual premium | S$254 | |
Downpayment (for Staggered Downpayment Scheme) | 15% of purchase price: S$75,000 | |
Balance of purchase price | Loan amount: S$375,000 | |
Total | S$513,199.30 |
Not sure on which bank loan to go for? Speak to 99.co’s mortgage broker to find out more.
HDB flats for sale
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214 Jurong East Street 21
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$398,000
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$358,000
233A Sumang Lane
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$350,000
238 Bukit Batok East Avenue 5
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$368,000
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1
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55 Lorong 5 Toa Payoh
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1
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$285,000
128B Canberra Street
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$358,000
511C Yishun Street 51
Singapore 763511 · D27
2
2
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$445,000
116A Jalan Tenteram
Singapore 321116 · D12
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2
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445B Bukit Batok West Avenue 8
Singapore 652445 · D23
1
1
408 sqft
$320,000
450D Bukit Batok West Avenue 6
Singapore 654450 · D23
1
1
505 sqft
$368,888
160 Lorong 1 Toa Payoh
Singapore 310160 · D12
1
1
650 sqft
$300,000
363 Clementi Avenue 2
Singapore 120363 · D5
2
2
721 sqft
$440,000
195 Kim Keat Avenue
Singapore 310195 · D12
2
1
710 sqft
$300,000
450D Bukit Batok West Avenue 6
Singapore 654450 · D23
1
1
506 sqft
$350,000
450D Bukit Batok West Avenue 6
Singapore 654450 · D23
1
1
506 sqft
$350,000
406 Ang Mo Kio Avenue 10
Singapore 560406 · D20
1
1
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$308,000
209 Boon Lay Place
Singapore 640209 · D22
2
1
700 sqft
$298,000
510 Ang Mo Kio Avenue 8
Singapore 560510 · D20
1
1
473 sqft
$318,000
366A Sembawang Crescent
Singapore 751366 · D27
1
1
516 sqft
$350,000
127A Kim Tian Road
Singapore 161127 · D3
1
1
505 sqft
$448,000
366A Sembawang Crescent
Singapore 751366 · D27
1
1
516 sqft
$338,000
82 Whampoa Drive
Singapore 320082 · D12
2
1
710 sqft
$378,000
9 Jalan Kukoh
Singapore 160009 · D3
1
1
581 sqft
$300,000
32 New Market Road
Singapore 050032 · D1
1
1
560 sqft
$368,000
573A Woodlands Drive 16
Singapore 731573 · D25
1
1
506 sqft
$338,000
312B Clementi Avenue 4
Singapore 122312 · D5
2
2
742 sqft
$670,000
269 Tampines Street 21
Singapore 520269 · D18
2
2
807 sqft
$460,000
406 Ang Mo Kio Avenue 10
Singapore 560406 · D20
1
1
474 sqft
$308,000
172 Ang Mo Kio Avenue 4
Singapore 560172 · D20
1
1
484 sqft
$310,000
363B Sembawang Crescent
Singapore 752363 · D27
1
1
750 sqft
$345,000
551 Pasir Ris Street 51
Singapore 510551 · D18
3
2
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$645,000
292B Bukit Batok East Avenue 6
Singapore 652292 · D23
3
2
1,216 sqft
$858,000
358 Clementi Avenue 2
Singapore 120358 · D5
3
2
990 sqft
$490,000
204A Compassvale Drive
Singapore 541204 · D19
3
2
968 sqft
$518,888
747A Bedok Reservoir Crescent
Singapore 471747 · D16
3
3
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$1,000,000
710 Bedok Reservoir Road
Singapore 470710 · D16
3
2
1,302 sqft
$640,000
49 Dorset Road
Singapore 210049 · D8
2
2
732 sqft
$460,000
121A Canberra Street
Singapore 751121 · D27
3
2
1,216 sqft
$699,000
712 Bedok Reservoir Road
Singapore 470712 · D16
2
2
731 sqft
$399,000
632B Punggol Drive
Singapore 822632 · D19
3
2
979 sqft
$535,888
65 Telok Blangah Drive
Singapore 100065 · D4
2
2
883 sqft
$450,000
8 Telok Blangah Crescent
Singapore 090008 · D4
2
1
775 sqft
$408,000
463 Ang Mo Kio Avenue 10
Singapore 560463 · D20
2
2
731 sqft
$408,000
453B Bukit Batok West Avenue 6
Singapore 652453 · D23
3
2
1,001 sqft
$658,000
371 Clementi Avenue 4
Singapore 120371 · D5
2
2
731 sqft
$390,000
520B Tampines Central 8
Singapore 522520 · D18
3
2
1,163 sqft
$899,888
330 Ang Mo Kio Avenue 1
Singapore 560330 · D20
2
2
732 sqft
$400,000
528 Bedok North Street 3
Singapore 460528 · D16
2
2
731 sqft
$400,000
61 Telok Blangah Heights
Singapore 100061 · D4
2
2
871 sqft
$498,000
76 Lorong Limau
Singapore 320076 · D12
2
2
699 sqft
$345,678
23A Queen'S Close
Singapore 140023 · D3
2
1
818 sqft
$480,000
442C Bukit Batok West Avenue 8
Singapore 653442 · D23
3
2
1,205 sqft
$799,888
136 Potong Pasir Avenue 3
Singapore 350136 · D13
2
2
796 sqft
$510,000
288A Bukit Batok Street 25
Singapore 650288 · D23
3
2
1,550 sqft
$958,000
878 Tampines Avenue 8
Singapore 520878 · D18
2
2
796 sqft
$448,000
267 Bukit Batok East Avenue 4
Singapore 650267 · D23
2
2
689 sqft
$360,000
534 Jurong West Street 52
Singapore 640534 · D22
2
2
721 sqft
$378,000
704 West Coast Road
Singapore 120704 · D5
2
2
721 sqft
$378,000
961 Hougang Avenue 9
Singapore 530961 · D19
3
2
1,474 sqft
$830,000
590A Ang Mo Kio Street 51
Singapore 561590 · D20
3
2
1,001 sqft
$878,000
92B Telok Blangah Street 31
Singapore 102092 · D4
2
2
731 sqft
$680,000
2 Jalan Bukit Merah
Singapore 150002 · D3
2
1
678 sqft
$400,000
2 Everton Park
Singapore 081002 · D2
2
3
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$1,742,000
805C Keat Hong Close
Singapore 683805 · D23
3
2
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$610,000
453B Bukit Batok West Avenue 6
Singapore 652453 · D23
3
2
1,237 sqft
$830,000
805 Woodlands Street 81
Singapore 730805 · D25
3
2
1,108 sqft
$498,000
95B Henderson Road
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3
2
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$1,150,000
760 Woodlands Avenue 6
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3
2
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591A Ang Mo Kio Street 51
Singapore 561591 · D20
3
2
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219 Choa Chu Kang Central
Singapore 680219 · D23
3
2
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$560,000
331 Woodlands Avenue 1
Singapore 730331 · D25
3
2
1,108 sqft
$488,000
365A Sembawang Crescent
Singapore 751365 · D27
3
2
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$620,000
683 Tessensohn Road
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3
2
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$680,000
537 Ang Mo Kio Avenue 5
Singapore 560537 · D20
3
2
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439A Sengkang West Avenue
Singapore 791439 · D28
3
2
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$590,000
227 Lorong 8 Toa Payoh
Singapore 310227 · D12
3
1
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$468,000
50 Lorong 5 Toa Payoh
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2
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$780,000
272B Punggol Walk
Singapore 822272 · D19
3
2
1,044 sqft
$750,000
840 Yishun Street 81
Singapore 760840 · D27
3
2
1,108 sqft
$598,000
186B Bedok North Street 4
Singapore 462186 · D16
3
2
1,000 sqft
$808,888
157 Yung Loh Road
Singapore 610157 · D22
3
2
1,195 sqft
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165 Gangsa Road
Singapore 670165 · D23
3
2
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$560,000
308A Punggol Walk
Singapore 821308 · D19
3
2
990 sqft
$650,000
224C Sumang Lane
Singapore 823224 · D19
3
2
1,000 sqft
$638,888
292C Bukit Batok East Avenue 6
Singapore 653292 · D23
3
2
990 sqft
$799,000
977 Jurong West Street 93
Singapore 640977 · D22
3
2
1,119 sqft
$499,999
22 Marsiling Drive
Singapore 730022 · D25
3
2
979 sqft
$400,000
344 Woodlands Street 32
Singapore 730344 · D25
3
2
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$440,000
830A Jurong West Street 81
Singapore 641830 · D22
4
2
1,571 sqft
$755,000
416 Tampines Street 41
Singapore 520416 · D18
3
2
904 sqft
$538,000
873 Woodlands Street 81
Singapore 730873 · D25
3
2
1,237 sqft
$570,000
39A Bendemeer Road
Singapore 331039 · D12
3
2
990 sqft
$858,000
524 Woodlands Drive 14
Singapore 730524 · D25
3
2
1,119 sqft
$540,000
205 Serangoon Central
Singapore 550205 · D19
3
2
904 sqft
$618,000
288E Bukit Batok Street 25
Singapore 654288 · D23
3
2
1,087 sqft
$548,000
412 Serangoon Central
Singapore 550412 · D19
3
2
1,195 sqft
$780,000
107A Canberra Street
Singapore 751107 · D27
3
3
1,000 sqft
$636,966
636 Woodlands Ring Road
Singapore 730636 · D25
4
3
1,528 sqft
$880,000
33 Ghim Moh Link
Singapore 270033 · D10
3
2
1,001 sqft
$918,000
59A Geylang Bahru
Singapore 330059 · D12
3
2
1,087 sqft
$799,998
108A Canberra Walk
Singapore 751108 · D27
3
2
1,216 sqft
$768,000
795 Woodlands Drive 72
Singapore 730795 · D25
3
2
1,302 sqft
$902,000
320 Hougang Avenue 5
Singapore 530320 · D19
3
2
1,301 sqft
$670,000
213A Compassvale Lane
Singapore 541213 · D19
4
2
1,238 sqft
$660,000
7 Boon Keng Road
Singapore 330007 · D12
3
3
1,238 sqft
$1,228,888
170 Yishun Avenue 7
Singapore 760170 · D27
3
2
1,430 sqft
$888,000
258B Compassvale Road
Singapore 542258 · D19
3
2
1,183 sqft
$680,000
404 Serangoon Avenue 1
Singapore 550404 · D19
3
2
1,324 sqft
$848,000
396 Tampines Avenue 7
Singapore 520396 · D18
4
2
1,335 sqft
$720,000
453A Bukit Batok West Avenue 6
Singapore 651453 · D23
3
2
1,237 sqft
$758,000
610 Woodlands Avenue 4
Singapore 730610 · D25
4
2
1,313 sqft
$650,000
443 Tampines Street 43
Singapore 520443 · D18
3
2
1,313 sqft
$638,000
267 Toh Guan Road
Singapore 600267 · D22
3
2
1,301 sqft
$890,000
501B Yishun Street 51
Singapore 762501 · D27
3
2
1,206 sqft
$670,000
678 Choa Chu Kang Crescent
Singapore 680678 · D23
4
2
1,323 sqft
$580,000
509A Wellington Circle
Singapore 751509 · D27
3
2
1,184 sqft
$598,000
193 Rivervale Drive
Singapore 540193 · D19
3
2
1,194 sqft
$599,000
335B Anchorvale Crescent
Singapore 542335 · D19
3
2
1,205 sqft
$633,000
26 Telok Blangah Crescent
Singapore 090026 · D4
3
2
1,226 sqft
$810,000
997C Buangkok Crescent
Singapore 534997 · D19
3
2
1,216 sqft
$699,000
694C Woodlands Drive 62
Singapore 733694 · D25
3
2
1,216 sqft
$648,000
673B Yishun Avenue 4
Singapore 762673 · D27
3
2
1,216 sqft
$700,000
415B Fernvale Link
Singapore 792415 · D28
3
2
1,216 sqft
$765,000
216D Compassvale Drive
Singapore 544216 · D19
3
2
1,206 sqft
$949,000
232A Sumang Lane
Singapore 821232 · D19
3
2
1,215 sqft
$745,000
729 Ang Mo Kio Avenue 6
Singapore 560729 · D20
3
3
1,281 sqft
$828,000
997B Buangkok Crescent
Singapore 532997 · D19
3
2
1,216 sqft
$690,000
111 Jurong East Street 13
Singapore 600111 · D22
3
2
1,291 sqft
$628,000
114 Tampines Street 11
Singapore 521114 · D18
3
2
1,431 sqft
$680,000
256 Tampines Street 21
Singapore 522256 · D18
3
2
1,302 sqft
$668,000
451B Bukit Batok West Avenue 6
Singapore 652451 · D23
5
2
1,216 sqft
$829,000
299C Compassvale Street
Singapore 543299 · D19
3
2
1,226 sqft
$628,000
111 Jurong East Street 13
Singapore 600111 · D22
4
2
1,291 sqft
$650,000
412A Fernvale Link
Singapore 791412 · D28
3
2
1,227 sqft
$700,000
311A Clementi Avenue 4
Singapore 121311 · D5
4
2
1,131 sqft
$1,080,000
298D Compassvale Street
Singapore 544298 · D19
4
2
1,442 sqft
$750,000
452 Sin Ming Avenue
Singapore 570452 · D20
4
4
1,571 sqft
$1,250,000
237 Lorong 1 Toa Payoh
Singapore 310237 · D12
4
3
1,572 sqft
$900,000
740 Tampines Street 72
Singapore 520740 · D18
4
2
1,517 sqft
$840,000
108 Commonwealth Crescent
Singapore 140108 · D3
3
2
1,205 sqft
$620,000
330 Woodlands Avenue 1
Singapore 730330 · D25
4
3
1,582 sqft
$750,000
160 Pasir Ris Street 13
Singapore 510160 · D18
4
2
1,603 sqft
$788,888
847 Woodlands Street 82
Singapore 730847 · D25
6
2
1,926 sqft
$990,000
145 Bedok Reservoir Road
Singapore 470145 · D16
4
3
1,539 sqft
$950,000
524 Choa Chu Kang Street 51
Singapore 680524 · D23
4
2
1,528 sqft
$660,000
131 Potong Pasir Avenue 1
Singapore 350131 · D13
3
3
1,625 sqft
$1,130,000
520 Serangoon North Avenue 4
Singapore 550520 · D19
4
3
1,679 sqft
$980,000
212 Bishan Street 23
Singapore 570212 · D20
3
2
1,614 sqft
$980,000
816 Woodlands Street 82
Singapore 730816 · D25
8
4
1,905 sqft
$980,000
537 Pasir Ris Street 51
Singapore 510537 · D18
4
3
1,593 sqft
$1,100,000
202B Sengkang East Road
Singapore 542202 · D19
4
2
1,399 sqft
$778,888
849 Woodlands Street 82
Singapore 730849 · D25
6
2
1,926 sqft
$1,050,000
318 Serangoon Avenue 2
Singapore 550318 · D19
4
3
1,615 sqft
$970,000
150 Mei Ling Street
Singapore 141150 · D3
4
3
1,572 sqft
$1,280,000
326 Ubi Avenue 1
Singapore 400326 · D14
4
3
1,572 sqft
$900,000
804 Woodlands Street 81
Singapore 730804 · D25
4
3
1,571 sqft
$750,000
820 Woodlands Street 82
Singapore 730820 · D25
6
2
1,905 sqft
$1,188,888
130 Bedok Reservoir Road
Singapore 470130 · D16
4
3
1,538 sqft
$1,100,000
721 Bedok Reservoir Road
Singapore 470721 · D16
3
2
1,593 sqft
$918,000
122 Bukit Batok Central
Singapore 650122 · D23
4
3
1,615 sqft
$908,000
141 Bukit Batok Street 11
Singapore 650141 · D23
3
2
1,593 sqft
$900,000
606 Yishun Street 61
Singapore 760606 · D27
3
2
1,528 sqft
$830,000
245 Tampines Street 21
Singapore 521245 · D18
3
3
1,614 sqft
$1,008,888
276 Bangkit Road
Singapore 670276 · D23
4
3
1,560 sqft
$800,000
509 Pasir Ris Street 52
Singapore 510509 · D18
4
2
1,571 sqft
$868,000
142 Serangoon North Avenue 1
Singapore 550142 · D19
3
2
1,624 sqft
$1,200,000
201 Clementi Avenue 6
Singapore 120201 · D5
3
2
1,605 sqft
$1,060,000
721 Bedok Reservoir Road
Singapore 470721 · D16
3
3
1,592 sqft
$920,000
820 Woodlands Street 82
Singapore 730820 · D25
5
2
1,905 sqft
$1,050,000
160 Bedok South Avenue 3
Singapore 460160 · D16
3
3
1,572 sqft
$950,000
What’s your experience with the HDB BTO payment process? Let us know in the comments section below.
If you found this article helpful, 99.co recommends 99.co’s guides: Buying a BTO – The Process & Procedures and My complete BTO experience: From balloting to renovation regrets.
[Additional reporting by Virginia Tanggono]
Frequently asked questions
What’s the downpayment for BTO?
For HDB loan, if you’ve applied for BTO between 16 December 2021 and 20 September 2022, the downpayment is 15% of the purchase price. For BTO applications from 30 September 2022 onwards, the down payment will be 20%. On the other hand, if you take a bank loan, the downpayment will be 25%.
How long does a BTO project take to complete?
The wait time is usually three to four years. However, due to supply constraints, manpower shortages and delays, it can take around five years to complete.
How many times can you apply for BTO?
As long as you’ve not bought a new HDB, DBSS or EC, or received a CPF Housing Grant before, you can buy a BTO up to two times.
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