hey cpu, yes the rule is that the 1st house that utilized the money before must be disposed of first before u can use ur acc2 again for 2nd house(doesnt matter if ur property is fully redeemed or not)...
dont know why like that..but that is the rule for now..

Sometimes they really set the rules that make no sense.. Example I take 20k at age 27 to clear my first house then after 20 years.. I got 300k at account 2 but I cannot use to buy or purchase 2nd house with it... I need sell first house only can buy..

Aiyo aiyo, u still can withdraw your ACC2 money from time to time to pay installment or clear part of the loan amount or settlement for your loan acc. You can check my reply few post above you.

You work as what? can have rm300k in ACC2 after 20 years?

I work like shet for 10 years only get like rm40k total

Pls share.

Aiyo aiyo, u still can withdraw your ACC2 money from time to time to pay installment or clear part of the loan amount or settlement for your loan acc. You can check my reply few post above you.

You work as what? can have rm300k in ACC2 after 20 years?

I work like shet for 10 years only get like rm40k total

Pls share.

Maybe I rephase, I mean

Age 27
Acc 2 got : 20k
1st House installment left 20k= Take EPF clear it out.

after 20 year
Age 47
Acc 2 got : 300k(just example la, maybe 100k etc. My Director got few hundred K on EPF.)
1st House debt already clear 20 years ago.
Intend to buy 2nd house however cannot take EPF to buy 2nd house because first house not yet sold

no need to wait for that many years

now u can go to kwsp to apply out for loan installment purpose. go bank get a "bank loan statement" and pass to KWSP, kao tim, every month kwsp will bank in the installment money to ur acc. U can use it what ever u like.

Ooooo.. Write it now. It good can use in future. Now saving more on account 2 for DP

yup, i withdraw it out and put it safe in my pocket rather than misuse by government

how to know full flexi or not.. hmm

Yes, u can do what ever u like with the money as long the repayment is in order

There are 2 option to withdraw out for loan repayment or settlement purpose from Acc2

Option 1:

Withdraw all from Acc 2 and directly bank in to loan account to offset. (KWSP will directly bank in). If u r on full flexi, then u cannot touch the money since it is in loan acc and not your saving acc. If u r on semi flexi, once transferred to loan acc, then u can call up bank to transfer out to ur saving acc with a standard charges

Option 2:

Withdraw from Acc 2 according to your loan monthly repayment amount into your saving account. Says u have rm10k in Acc 2, and your monthly repayment is rm1k, then u can apply for 10 months auto debit into your saving acc directly. No more loan acc for this.

I had chosen option 2 because im on full flexi.

Some question here :
Can i apply epf to renovate my mum in law house ? As the s&p not under my name. Nothing is related but i wanna use epf fund from acc2 to renovate?

Thanks

Gd day to all, have anyone tried to apply for EPF withdrawal in purpose of house renovation?
I have heard from my colleague that we can do so and the money from acct 2 will be credited to our personal acct 

Have anyone done it before?

No.

In anycase, they will NOT credit any money into your personal account, cause too many ppl will abuse and use the money for something else.

No.

In anycase, they will NOT credit any money into your personal account, cause too many ppl will abuse and use the money for something else.

so basically we cannot apply EPF to renovate the house? .... hmmm