Help needed! Making pc

Hello, I'm from Singapore and trying to make a computer(its my first time)
My budget is 1.3k sgd
Trying to get a i5 3550 as rock extreme4 z77 mobo bundle $436
Palit gtx660 seasonic 620w psu bundle $412
Fractal design arc midi $129
Intel 330 60gb ssd 500gb wd blue hdd $165
Kingston hyperx 1600mhz 8gb ram $75

Have a couple of questions , are there any bottlenecks in my build?
Is thermal paste needed? Processor comes with thermal paste applied.
Is Palit graphics card good?
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