1 question.. I heard from my previous lawyer firm before.. He mentioned if use EPF.. Only can use 1 house right? Cannot use on another house unless u sold it? izzit that right?
KWSP withdrawal for house renovation, Advised needed
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 Mar 12 2013, 03:54 PM
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Mar 12 2013, 04:04 PM
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#2
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QUOTE(ThatArmCandy @ Mar 12 2013, 04:01 PM) yes its correct Thanks.. It's mean even we clear all debt from bank but we cannot use our EPF contribute to new house? |
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Mar 13 2013, 02:03 PM
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#3
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QUOTE(ThatArmCandy @ Mar 13 2013, 01:58 PM) 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.. |
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Mar 13 2013, 02:13 PM
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#4
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QUOTE(peri peri @ Mar 13 2013, 02:06 PM) 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. Maybe I rephase, I mean 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. 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 |
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Mar 13 2013, 02:17 PM
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#5
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BTW I age 26.. Account 2 only got 20k like that.
 Per year acccount 2 increse 9k more or less.. Hope this year can convert to USD as transfering to corp |
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Mar 13 2013, 02:20 PM
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#6
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QUOTE(peri peri @ Mar 13 2013, 02:17 PM) no need to wait for that many years Ooooo.. Write it now. It good can use in future. Now saving more on account 2 for DPnow 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. |
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Mar 13 2013, 02:28 PM
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#7
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QUOTE(peri peri @ Mar 13 2013, 02:24 PM) 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 |
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