Installment Plan for Electrical Upgrading Charges
In our continuous effort to serve you better, we are pleased to inform you that electrical upgrading charges can now be paid by installments which are interest free.
Upon HDB’s approval for electrical upgrading, you will pay only 30% of the upgrading charges upfront. Previously, the full payment was required upfront.
The remaining 70% will be collected over six monthly payments, commencing one month later from 30% upfront payment.
The electrical upgrading charges are subjected to prevailing administrative charges and GST.
Example
If your approved electrical loading is 3 phase 60 Amps and your application to upgrade to 3 phase 100 Amps is approved by HDB (subject to site conditions), the charges is 3 phase 40 Amps (3 phase 100 Amps – 3 phase Amps 60 Amps).
Based on our current upgrading charge of $45 per additional ampere per phase :
| Upgrading charges payable | = | $ 5,400 ($45 x 3 phase x 40 Amps) |
| Administrative charge | = | $ 200 |
| Sub Total | = | $ 5,600 |
| GST (7% of $5,600) | = | $ 392 |
| Total upgrading charges | = | $ 5,992 |
The installment plan is as follows:
a. Upfront 30% of upgrading charge of $1,680 (exclusive of GST) upon approval.
b. 1st to 5th monthly installment of $654 (exclusive of GST). The 1st installment is due 30 days after collecting the initial 30%.
c. 6th installment of $650 (exclusive of GST).
After a 30 days grace period, late payment charges will apply if installment is defaulted.
We hope that you find the installment plan useful in easing your cash flow.
