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> EPF withdrawal (no deposit paid)

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TSn0thing
post May 23 2016, 06:57 PM, updated 8y ago

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Hello sifus,

Newbie here. I'm buying my first property but no down payment is paid as the developer is giving 10% discount which is basically the down payment required.

Can I still withdraw 10% of the property price from my account 2?

Let's say house is rm500k.
Loan is 450k.

Can I take out 50k from my account 2?
What if the loan is 500k?

What about joint loan/snp with wife?

Let's say both our account 2 have 30k each.
Can both of us withdraw all 30k from both account 2?

Help!

Thanks
JianNinety
post May 25 2016, 02:23 PM

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QUOTE(n0thing @ May 23 2016, 06:57 PM)
Hello sifus,

Newbie here. I'm buying my first property but no down payment is paid as the developer is giving 10% discount which is basically the down payment required.

Can I still withdraw 10% of the property price from my account 2?

Let's say house is rm500k.
Loan is 450k.

Can I take out 50k from my account 2?
What if the loan is 500k?

What about joint loan/snp with wife?

Let's say both our account 2 have 30k each.
Can both of us withdraw all 30k from both account 2?

Help!

Thanks
*
You can withdraw from account 2 as long as you have not withdrew from account 2 before. No need to mention the rebate you received from Developer to anyone.

Not sure about the joint name part.

This post has been edited by JianNinety: May 25 2016, 02:24 PM
AmmoShaf
post May 26 2016, 02:26 PM

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702 posts

Joined: Dec 2011
From: Kuala Lumpur



QUOTE(n0thing @ May 23 2016, 06:57 PM)
Hello sifus,

Newbie here. I'm buying my first property but no down payment is paid as the developer is giving 10% discount which is basically the down payment required.

Can I still withdraw 10% of the property price from my account 2?

Let's say house is rm500k.
Loan is 450k.

Can I take out 50k from my account 2?
What if the loan is 500k?

What about joint loan/snp with wife?

Let's say both our account 2 have 30k each.
Can both of us withdraw all 30k from both account 2?

Help!

Thanks
*
Yes you can, to withdraw epf, the withdrawer name need to be in SnP. In this case both of you can withdraw your epf.

The maximum amount of withdrawal is 10%+10%(50k+45k) for each of you. Do not mention the discount given by developer to banks or kwsp.

You can even do the monthly deduction from epf to pay for your house monthly installment.
piglover
post May 29 2016, 11:48 AM

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1,080 posts

Joined: Jun 2005
From: KL


QUOTE(AmmoShaf @ May 26 2016, 02:26 PM)
Yes you can, to withdraw epf, the withdrawer name need to be in SnP. In this case both of you can withdraw your epf.

The maximum amount of withdrawal is 10%+10%(50k+45k) for each of you. Do not mention the discount given by developer to banks or kwsp.

You can even do the monthly deduction from epf to pay for your house monthly installment.
*
Thx for great info
TSn0thing
post May 29 2016, 10:04 PM

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Thank you thank you.
propertymart
post Jun 3 2016, 12:21 AM

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Joined: Oct 2010


can i withdraw twice?

RM10k two time



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