Feb 20 2017, 09:33 AM
QUOTE(patrickthissen @ Feb 19 2017, 01:53 PM)
Based on EPF website, 1st time EPF withdrawal-account 2 to purchase house will direct credit to the person bank account right?
If the person use the money for other purposes such as higher yield investment vehicle, renovation house etc, will EPF track the purpose of the money usage?? (Will they recall the money)
If the person use the money for other purposes such as higher yield investment vehicle, renovation house etc, will EPF track the purpose of the money usage?? (Will they recall the money)
QUOTE(MiKE7LIM @ Feb 19 2017, 02:07 PM)
base on my assumption ... It will transfer to our bank ..the usage might not able to monitor by EPF bah..so many account holder in EPF
I'm also planning to withdraw acc2
hopefully someone can confirm this as well
I'm also planning to withdraw acc2
hopefully someone can confirm this as wellQUOTE(patrickthissen @ Feb 19 2017, 10:12 PM)
Ya, I heard a lot peoples taking out EPF acc 2 for so called "house renovation".
Let's wait other members reply
Yes, you may withdraw acc2 for house. you may use it for anything even for investment. when u buy a house, u will fork out ur own money to pay for the 10% downpayment right? once sign s&p, u will proceed to withdraw from ur acc2. so the money is actually to pay back ur 10% that you have paid earlier. so epf don't care if u gonna use it for whatever reason.Let's wait other members reply
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