hi guys, wondering whether is it possible to do so as read tru forum some say can some say not, n its psble IF u do it in another way... if not mistaken during ur withdrawal they wil ask for housing loan details, s&p n account so that kwsp wil directly bank in or via cheque,cash cheque...

apprecaite feedback from those that tried and sucesfuly done so.

thx in advance... cheers...

I dun think we can withdraw EPF for Renovation.
What u mentioned are withdrawal for house purchase/ reduce housing loan.


This post has been edited by Titan_Gunners: May 24 2012, 11:13 AM

No. You cannot withdraw EPF for House Reno except IF and ONLY IF, it's your 1st house. Basically, EPF will give you $$$ in your acct 2 to help settle your 10% downpayment, etc.

And so, this $$$ will be deposited directly into your own bank accounts. So what you want to do with it, that's up to you.

But once it's been withdrawn, the next attempt to use it, nada. $$$ goes straight into your home loan account to pay off. But then, if you have those loans that allow you to withdraw extra $$$ dump in... does that mean you can take it out?

First time withdraw is direct to your bank. Rightfully is for you to style the lawyer fees, and loans. Not for renovation. And they have formula to calculate max you can withdraw from account 2.

There are few conditions I understand for EPF housing withdrawal: -

PURCHASE A HOUSE
(1) Withdraw 10% of your purchase price or entire of your EPF Account 2, whichever is LOWER for your 1-st house. Application can be submitted within 3-years from the date of signing SPA.

(2) If purchaser has enough funds upon signing SPA, then can opt for withdrawal which is deemed as reimbursement to yourself. Otherwise, EPF purchaser should submit the application ASAP to settle the sum with the developer/seller. The whole process takes you less than 2-weeks if information/document is complete upon application.

(3) The purchaser can withdraw again to reduce the housing loan after 3-years from the date of last withdrawal FOR THE SAME HOUSE;

(4) The purchaser CANNOT apply for housing withdrawal for another house unless it has been sold AND after 3-years since the last withdrawal;

MONTHLY WITHDRAWAL OF HOUSING LOAN REPAYMENT
(5) Apart from (1) to (4) above, withdrawal for paying monthly housing loan repayment can be submitted as soon as the purchaser started the 1st-repayment, with certain conditions fulfilled. This can be a different house as this withdrawal fallen in another withdrawal category.

Unofficially type. with the condition of first time withdrew, you still have loan or plan to purchase house, where they will bank the $$$ into your account.
If you withdrew before, than you will not allow any more.

So if buy a house for 200k, maximum how much we can withdraw from acc 2?

This will explained

http://www.kwsp.gov.my/index.php?hdl=bin&rp=1258

This relevant to all the withdrew from EPF
http://www.kwsp.gov.my/index.php?ch=p2memb...awscheme&ac=288

I don't understand this "you still have loan or plan to purchase house, where they will bank the $$$ into your account."

for MONTHLY WITHDRAWAL OF HOUSING LOAN REPAYMENT, what are the document need to submit?
do i need to show them the first installment transaction of bank statement or need bank to prepare a letter for EPF

which mean, 1st time withdrawer will enjoy $-to-your-saving-account instead of go straight to loan account. You can use your 1st house's SNP to withdraw money, dump into 2nd home down payment

Sure allow to withdraw into your own acc instead homeloan acc? KWSP won't allow anyhow to missused the money.

1st withdrawal, yes

"Amaun perbezaan di antara harga rumah dengan jumlah pinjaman perumahan dan tambahan 10% daripada harga rumah ATAU Semua simpanan dalam Akaun 2 masing-masing tertakluk kepada amaun maksimum yang layak dikeluarkan"

Say if your Account 2 have RM 100k,

You buy a 200k house, and you pay 20% down payment, and take 80% loan.

You can only take (what you pay for down payment) + 10% of your house. That is RM 40k + 20k. So you can take max of 60k. EPF will bank into your bank account for first time.

I remember you can take all in acc2 for the downpayment + my cash downpayment.

Down payment and cash down payment is still down payment right?

i hv paid my down payment, do i still eligible to withdraw from acct 2? this is my first house. sign S&P July 2011.

I mean, you can pay more than 20% downpayment if you have 100k in acc2.

Yes, the amount is what you plan to pay in cash + 10% of your house value. Of course if your acct don't have that much, you take all in acc2

When you said pay down payment using EPF, you must pay the down payment 1st by own money.
After having S&P, only can withdraw from EPF using S&P.
Is i understand correctly??