QUOTE(wild_card_my @ Jun 2 2017, 11:00 AM)
Okay, instructions from EPF is quite clear but I find them to be confusing at times too; although I still commend them for their effort in general. And Ive verified this with multiple EPF officers since plenty of people get confused on the amount that they can withdraw, and its cool that you are asking me to explain
Based on the terms below (pembinaan/pembelian), you can withdraw whatever the difference between the [loan amount] VS [construction cost OR purchase price] plus 10% of the [construction cost OR purchase price].
I see why lifebalance is a little confused about this (in the spoiler below) because he assumed that everyone will apply for a 90% margin. And most people probably thought that the hard cap is 10% + 10% = 20%. All you have to keep in mind is that not everyone will apply for 90% loan margin, some will prefer to go for lower margin and use withdrawn EPF account 2 money to pay for the rest. So to answer the question on how much you can withdraw from account 2, you need to know the loan margin that you got.
Contruction
Construction cost: RM200,000
Loan amount: RM120,000
Difference: RM80,000
Amount that can be withdrawn: RM80,000 + RM20,000 (10% of the construction cost) = RM100,000
Ratio of withdrawn:construction : 50%
Purchase
Purchase price: RM400,000
Loan amount: RM300,000
Difference: RM100,000
Amount that can be withdrawn: RM100,000 + RM40,000 (10% of the purchase price) = RM130,000
Ratio of withdrawn:construction : 35%
There is NO hard cap on the amount that you can withdraw, down to the maximum amount that you have in account 2 of course
Pembinaan rumah
Pembelian rumah
Syarat-syarat
thanks bro for your explanation.... because from the wordings itself... it confused alot of ppl... thats provided if your account 2 gt so much money also.... Based on the terms below (pembinaan/pembelian), you can withdraw whatever the difference between the [loan amount] VS [construction cost OR purchase price] plus 10% of the [construction cost OR purchase price].
I see why lifebalance is a little confused about this (in the spoiler below) because he assumed that everyone will apply for a 90% margin. And most people probably thought that the hard cap is 10% + 10% = 20%. All you have to keep in mind is that not everyone will apply for 90% loan margin, some will prefer to go for lower margin and use withdrawn EPF account 2 money to pay for the rest. So to answer the question on how much you can withdraw from account 2, you need to know the loan margin that you got.
» Click to show Spoiler - click again to hide... «
Contruction
Construction cost: RM200,000
Loan amount: RM120,000
Difference: RM80,000
Amount that can be withdrawn: RM80,000 + RM20,000 (10% of the construction cost) = RM100,000
Ratio of withdrawn:construction : 50%
Purchase
Purchase price: RM400,000
Loan amount: RM300,000
Difference: RM100,000
Amount that can be withdrawn: RM100,000 + RM40,000 (10% of the purchase price) = RM130,000
Ratio of withdrawn:construction : 35%
There is NO hard cap on the amount that you can withdraw, down to the maximum amount that you have in account 2 of course
Pembinaan rumah
Pembelian rumah
Syarat-syarat