3 months is a grace period given by IOI from booking days for purchaser(s) or bank to release the progress payment free from any interest. For me as I'm taking 90% loan...the progress payment should from my bank and as I'm taking deferred payment scheme, the balance first 10% deposit just pay latter by issuing postdated cheque.

I got my SNP a week after I sign the SPA and proceed with EPF withdrawn last week.