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.

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