Asked by Mr. Raj Kumar
Hi. Some ECs allow a deferred payment scheme ie the remaining 80% of the loan only starts when the TOP is completed. Let's say, I settle the 5% cash + 15% CPF/Cash downpayment - what happens when the E is ready in 3 years and I'm unable to continue to own the EC - will the bank forfeit the 5% cash? What happens to the 15% portion? Thank you
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