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KWSP withdrawal for house renovation, Advised needed
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ThatArmCandy
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 Mar 12 2013, 12:05 PM
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New Member
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QUOTE(Nog_1985 @ Mar 12 2013, 11:59 AM) 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? Does not matter if for house reno or etc..u can withdraw from ur acc 2 as long as ur s&p is not more than 3 years from date of withdrawal application.. u can withdraw all ur acc2 as long as it does not exceed the difference from loan amount & house price + 10% of house price |
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ThatArmCandy
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Mar 12 2013, 12:18 PM
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New Member
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QUOTE(funnybone @ Mar 12 2013, 12:10 PM) I think he wanted to know if it is possible to withdraw the amount for house renovation. The answer should be no. There is no provision for it. Only can withdraw to offset your housing loan amount yes I get it.. I am saying that if he has not utilized his acc2 yet (havent withdraw before for house), he can actually withdraw it out like as if to purchase a house.. but if he did, he can apply for the other type of withdrawal to redeem/reduce housing loan.. 2 ways to go about it.. |
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ThatArmCandy
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Mar 12 2013, 12:21 PM
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New Member
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QUOTE(Nog_1985 @ Mar 12 2013, 12:11 PM) Oic... My S&P is way back in the year 2008. Check with my colleague again. He told me we can withdraw from acct 2 in purpose for reducing the loan amount and the money will be credited to our personal acct. Thus we can used it for renovation purpose...  Is it true? Anyone have tried it before? yes u can withdraw to reduce house loan.. but I know epf will credit it straight to ur housing loan account... |
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ThatArmCandy
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Mar 12 2013, 04:01 PM
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New Member
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QUOTE(C.P.U @ Mar 12 2013, 03:54 PM) 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? yes its correct |
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ThatArmCandy
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Mar 13 2013, 01:58 PM
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New Member
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QUOTE(C.P.U @ Mar 12 2013, 04:04 PM) Thanks.. It's mean even we clear all debt from bank but we cannot use our EPF contribute to new house? 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.. |
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ThatArmCandy
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Mar 13 2013, 02:14 PM
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New Member
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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. 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. LOL..yes if ur acc2 got 300k ...ur acc1 at least 700k+ di.. peri is right..u can still use it for other purpose other than to purchase 2nd house.. |
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