QUOTE(b00n @ Apr 15 2012, 12:19 AM)
You get the whole concept wrong.
2nd withdrawal does not mean EPF 2nd account.
Also, there is no such thing as purpose for renovation.
However when you do a first time withdrawal, KWSP treats it as you are using the money to get your first house. Thus the money is directly banked into your account on the assumptions that it for your down payments and other fees needed to acquire your first house.
Subsequent to that, you can actually still withdraw EPF money to ease your loan repayment. This time around, the money will be credited direct into your loan account and not your personal bank account.
TQ Sifu for replaying... maybe i explain my situation in more details 1st la... can you help me to advise what can i do later?
I actually already applied my loan and the money already given out to the previous owner.. which means i will have to start making payment to my loan by next month... so question is... will i still applicable to apply EPF withdraw?
So if yes.. then... as you mentioned... the money will credited the loan account right? But when i apply the loan... the bank actually did opened up a current account for me... there is a plan call flexi-e-loan which i can deposit money inside and it will help to reduce the loan interest... so question is... can i fill in this current account number when i apply the EPF? so that i can withdraw the money out later...
Thanks for once again....