Financing guides
Can you use CPF to buy One Chuan Grove?
Yes. Like any private condo in Singapore, One Chuan Grove can be bought with a bank loan plus your CPF Ordinary Account (OA) savings. You need at least 5% of the price in cash. The rest of the downpayment and your monthly loan instalments can come from CPF OA, within CPF's limits.
Prices for One Chuan Grove have not been released. The figures below use an illustrative S$2 million purchase to show how the rules work. They are not project prices.
By Melvin Tan, ERA Realty Network Pte Ltd, CEA R026686A · Last updated 10 November 2026
How much cash do I need?
For a first housing loan, the minimum cash downpayment is 5% of the purchase price. MAS sets this together with the loan limit, and CPF's own guidance confirms the 5% cash must be paid before your OA savings can be used.
On a S$2 million purchase, that is S$100,000 in cash.
You also pay Buyer's Stamp Duty within 14 days of exercising the option. On S$2 million that is S$69,600 under current IRAS rates. Singapore citizens buying a first home pay no Additional Buyer's Stamp Duty.
How much can the bank lend?
MAS caps the loan by how many housing loans you already have, your age and the loan tenure.
| Your situation | Max loan (LTV) | Min cash downpayment |
|---|---|---|
| No existing housing loan | 75% | 5% |
| One existing housing loan | 45% | 25% |
| Two or more existing housing loans | 35% | 25% |
The lower limits apply if the loan tenure is over 30 years, or the loan runs past age 65. In those cases the limits drop to 55%, 25% and 15%, and the minimum cash for a first loan rises to 10%.
The maximum tenure for private property is 35 years.
On top of this, your total monthly debt repayments (home loan, car loan, credit cards and so on) must not exceed 55% of your gross monthly income. This is the Total Debt Servicing Ratio (TDSR). Banks also test your loan at a higher interest rate than the one you actually pay, so check your figures with a banker early.
How much CPF can I use?
You can use your OA savings for:
- the part of the downpayment above the 5% cash
- monthly loan instalments
- stamp duty, subject to CPF rules (usually paid in cash first, then reimbursed)
Two limits apply. The Valuation Limit is the lower of the purchase price or the bank's valuation. With a bank loan, you can keep using CPF beyond that, up to the Withdrawal Limit (120% of the Valuation Limit), if you set aside your Basic Retirement Sum first. After that, instalments must be paid in cash.
CPF use is also tied to the lease. Your use is not reduced if the remaining lease covers the youngest buyer to age 95. One Chuan Grove's 99-year lease started in 2025, so this will not be an issue for most buyers. See the 99-year leasehold guide.
Whatever you use from CPF must be refunded to your OA, with accrued interest, when you sell.
When do I actually pay?
New launches in Singapore are sold under the progressive payment scheme set out in the Housing Developers Rules. You pay in stages as construction is completed, not all at once.
| Stage | % of price | Usually paid by |
|---|---|---|
| Booking fee (option to purchase) | 5% | Cash |
| Signing the S&P (within 8 weeks) | 15% | Cash and/or CPF OA |
| Foundation completed | 10% | CPF / bank loan |
| Reinforced concrete framework | 10% | Bank loan |
| Partition walls | 5% | Bank loan |
| Roof and ceiling | 5% | Bank loan |
| Doors, windows, wiring, plumbing | 5% | Bank loan |
| Car park, roads, drains | 5% | Bank loan |
| TOP (keys) | 25% | Bank loan |
| CSC / legal completion | 15% | Bank loan |
About 20% is paid in the first eight weeks. Your monthly instalment starts small and rises as the bank releases more of the loan, reaching the full amount around TOP.
One Chuan Grove's sale and purchase agreement will set out the actual schedule. Check it when it is issued.
A worked example
Illustrative S$2 million purchase. First home, no existing loan, Singapore citizen, 30-year tenure ending before age 65.
| Item | Amount |
|---|---|
| Purchase price (illustrative) | S$2,000,000 |
| Bank loan (75%) | S$1,500,000 |
| Minimum cash (5%) | S$100,000 |
| Cash or CPF OA (20%) | S$400,000 |
| Buyer's Stamp Duty | S$69,600 |
| Monthly instalment at 4%, 30 years (after full drawdown) | about S$7,160 |
| Gross monthly income needed (TDSR 55%, no other debts) | about S$13,000 |
The 4% rate is an assumption for illustration only. Your actual rate and the rate the bank uses to test your loan will differ.
Common questions
Can I use CPF for the 5% booking fee?
No. The 5% minimum must be paid in cash.
I still own an HDB flat. Can I buy One Chuan Grove?
Possibly, but the rules change. A second housing loan drops the LTV to 45%, with 25% minimum cash, and ABSD applies to a second property. HDB owners also have conditions on buying private property. Speak to us before you book. See the wait-or-buy guide.
Do I start paying the full mortgage immediately?
No. Under progressive payment, the bank releases the loan stage by stage, so early instalments are smaller.
When will prices be released?
Not yet announced. See Is One Chuan Grove worth waiting for?
Sources
- MAS: Loan tenure and loan-to-value limits
- MAS: MSR and TDSR rules
- CPF Board: Using CPF savings for the downpayment
- CPF Board: Property usage and the age-95 lease rule
- IRAS: Buyer's Stamp Duty rates
This guide explains general rules. It is not financial advice. Confirm your own eligibility with CPF Board and your bank.