With ready built properties, one could withdraw their A/C 2 without much hassle assuming all documentations, SPA, loan docs etc are in place.

My question is more on new/under construction property (condo). To set the backdrop, here are some hypothetical parameters:

SPA price - RM1,000,000
Rebates etc - RM200,000
Total consideration - RM800,000

Based on the above, plan is as follows:
Bank loan - RM400,000.
EPF A/C 2 - RM300,000
Cash - RM100,000

Does the above work considering the property is new launch/under construction? Or do I need to take a bank loan for RM700,000 and apply to withdraw EPF A/C 2 when drawdown from bank loan exceeds RM300,000?

Would really appreciate some insight on this matter.

u can take 10% of the property value

No, I can withdraw my entire account 2. Excerpt from KWSP appended:

The difference between the house price and the loan amount with an additional 10% of the house price
OR
All your savings in Account 2.
(Whichever is lower but not less than RM500.00)

My question is not about the amount but more in relation to how I can tap my A/C 2 since buying a new launch or property under construction which requires payment to be released to the developer in stages

This post has been edited by richard912: Nov 17 2016, 09:34 AM

Sure can withdraw all from acc 2?
I am going to do so.

yes u can withdraw from account 2 for property anytime..
been doing every 2 years..

Did LHDN disturb you by reviewing your tax filing every time you do so?

why should they disturb me?

you can withdraw lump sum direct to your housing loan account.. not to your personal account..

bu there is 1 way to your personal account = withdraw monthly from acc 2 as your housing loan monthly instalment, with this they cannot check if you are using it to pay your housing loan or use for other things..

10℅+10℅ only from property price.

bro mind tell more details? U withdraw from acc 2 every 2 years for same property or different? Tot we can only withdraw once for lump sum, then subsequently if still need money for acc 2, then it will be the loan instalment amount...

3 type for epf withdrawal for housing:

1) for house deposit purpose. 10% + 10% from house price. ( acc 2 also )
2) for installment. ( ALL in acc 2 )
3) to reduce principal balance. ( ALL in acc 2 )

every 2 years withdraw? ru sure for deposit rrr mr chenster?

the 2nd one, how it works? they paid lump to ur loan account or personal acc (then deduct slowly from personal account)?

they will put in your personal account. monthly disburse from EPF to your Personal account.

not lump sump.

i see.. so my tot is correct, just the deposit part is lump sum, others are all in instalment... can we withdraw the deposit using House but instalment withdrew using house B?? both houses still on hand... and if you got 2 houses, which is suggested to be used, the pricier or the cheaper? assuming will be getting 3rd house by selling one later...

Withdrawal will be tagged for the first one that you've been witdhrew before either for installment or deposit.

Only for the A house only. Not combination A and B house.

I will choose for pricier one to max our entitlement for deposit which is 10℅ + 10℅ from the house price.

Use our money. Why park only in epf. Go buy buy buy house. Hehe

* Subject to epf account 2 only.

Okay thanks.. acc 2 too little, cant even reach 10%...

Hi all,

Got a question here. Buying my first apartment here and its only ready by end of 2020. As I know we can withdraw account 2 (all amount) after signed SPA and I can withdraw them within 3 year after signing SPA. My question is can I withdraw my account 2 money just before the end of 3 year period? Will there be any issue for me to withdraw my account 2 after 2 year??

Thank you in advance.

as long as its within the legal period... its okay... anyway they are quite efficient... within one week after approval u will get ur money in your personal account...

Thanks for the information. I try to keep the money in account 2 for longer period because interest is high compare to FD plus our monthly contribution will increase the amount. So I can withdraw all the money before the period for renovation or something else.

yeah... i doing the same way as u previously... just draw out when i almost wanna start my renovation... lol...

Thats the best way....