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> Redeem EPF Account 2 money, need some help here

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sonerin
post Jul 4 2010, 05:32 PM

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QUOTE(uniquesoul @ Jun 8 2010, 11:52 AM)
If i'm buying a 2nd house with my partner. Can both of us w/draw the epf $$$?
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Yes you can withdraw the money from EPF. There are condition of 2nd house withdrawal. If your first house you bought already withdrawn from EPF, then you need to dispose of your first house before withdrawing again. If you first house is bought without using the EPF, then the withdrawal of EPF is consider for 1st house only.
sonerin
post Jul 6 2010, 07:30 AM

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QUOTE(Moonguy @ Jul 5 2010, 10:07 PM)
I have just applied for EPF Account II withdrawal and FYI you are not allowed to withdraw the money for renovation or for other usage. It is strictly ONLY meant for reducing your current home loan. The cash will be directly credited to your home loan account anyway. sad.gif
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If you withdraw the money for the second time for the same house then it is to reduce home loan only. However if you withdraw for the first time to buy house the money goes into your own personal account. This apply as well for buying 2nd house with additional condition.

 

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