Insights

The New Sale Amortisation Table, Explained

On a new launch your loan doesn't start whole — it draws down stage by stage as the tower rises, so the instalment climbs and you pay 'construction interest' along the way. This table shows the full ramp.

By TRIBE Editorial · 28 June 2026 · 3 min read

A loan on a completed home starts whole on day one. A loan on a new launch under construction does the opposite: it draws down in slices as the building hits each milestone, so your instalment starts small and climbs to a peak by the time the project tops out. The New Sale Amortisation Table models that ramp precisely — including the often-overlooked "construction interest" you pay while the tower is still going up.

Booking cash, before the loan

equity is spent first

climbs

The monthly instalment

re-amortised at each drawdown

construction

Interest while building

paid on the drawn balance only

How a progressive loan actually works

Under the Progressive Payment Scheme, the developer calls for payment in stages — 5% at booking, 15% at S&P, then slices at foundation, frame, walls, ceiling, fittings, car park, 25% at TOP and 15% at CSC. Your own equity is spent on the first stages; once it's used up, the bank disburses the loan progressively, one stage at a time. You're charged interest only on the balance drawn so far, so the instalment is small at first and steps up with each drawdown.

The table's key refinement: at every drawdown it re-amortises the new balance over the remaining tenure — the loan's maturity is fixed at the first disbursement, so each step has fewer years left to spread over. That makes the peak instalment slightly higher than a naive "full-tenure" preview, and ensures the loan repays to exactly zero at maturity. The tenure clock starts at first disbursement, not at booking.

Construction interest is the line people forget

Because you're paying interest on a partially-drawn loan for the two-to-three years of construction, you incur interest before you ever live in (or rent out) the home. The table isolates this as construction interest — the total interest accrued between the first and final drawdowns — so you can see the real carrying cost of buying early in a build, not just the headline instalment at the end.

What it asks

Enter the price, your LTV, the interest rate and the tenure, and the table returns the total loan and equity, the 5% booking cash, a stage-by-stage schedule, the peak instalment, the construction interest, total interest and total paid, plus year-by-year and month-by-month rows. It's the detailed companion to the New Condo Purchase Planner: the planner maps the cash timeline; this table maps the loan and the climbing instalment to the dollar.

How to read it

Open the New Sale Amortisation Table, set your price, LTV, rate and tenure, and read the peak instalment (your real monthly cost once fully drawn) and the construction interest (what the building period costs you). Plan your budget around the peak, not the gentle early payments — that gap is the whole point of the tool.

See the full ramp at tribesg.com/tools/amortisation-new-sale.

Sources: TRIBE New Sale Amortisation Table; Progressive Payment Scheme stage percentages and stage-drawdown amortisation, as at June 2026. Informational only; not financial advice.

Silas Tan is a District Director at Huttons Asia and co-founder of TRIBE. This article is for informational purposes and does not constitute financial or investment advice. CEA Registration R000303I.