NOTICE TO APPLICANTS
Failure to Return Unused Amount for Withdrawal Purpose
If the applicant does not use the withdrawn savings for the intended purpose, the applicant is deemed as having committed
an offence and shall, upon conviction, be liable to imprisonment for a term not exceeding six (6) months or fine not exceeding
RM2,000.00 or both [Section 58A, EPF Act 1991 (Amendment) 2007].

As above, I tot we have to pay first, then only reimburse. If yes, then the amount withdrew will be in out savings, as we paid earlier. Isn't it?

Appreciate if someone can share what is the simple/correct procedure on withdraw from EPF to purchase a house?

almost 90% of those withdrawals are paid first... then request withdrawal back to their account subsequently... its very hard for developer nowadays to wait for you to withdraw epf only to pay the deposit...

the gomen wont go and spend time to hunt down those who withdraw their own money for whatever usage it is.... they cant even judge how you actually spend the money when it went into your own personal account....

I see, very informative. Thanks for your advise Have a good weekend ahead.

I have been misinformed by few people

Some of them took out their 2nd directly to their personal account and they bought other house and do renovation, shopping and travel

Some people took out their second account and directly transferred to their mortgage account.

Yea. For repaying housing loan, it will go to mortgage account. If you withdraw for paying downpayment which is you paid earlier when sign SNP, then EPF will reimburse the money to your personal account. That is what I understand. Thanks for reply

Hi! It is best to just visit the EPF website for proper understanding at www.kwsp.gov.my instead of been misled by incomplete information. All the best ya!

Thanks, noted bro

Very few developer last time will wait for u to withdraw first nor will they let u sign snp without paying deposit first. Now is a whole other story. Dev is more desperate, so they bmore willing to go into such arrangements. Anyway I haven't heard anyone got prosecuted for this issue...

This post has been edited by WhitE LighteR: Apr 23 2018, 09:58 AM

Yes, in this case, we nee to pay first, then EPF to reimburse the money to our saving account

Hi all,

Just wanted to tumpang this thread for another EPF Acc 2-related question - if I'm taking a joint loan with my wife, but the property is only under my wife's name, can we both still make an Acc 2 withdrawal to fund the downpayment or will only my wife be able to do this?

Thanks!

Have u withdraw-ed from your epf acc 2? Need some guidance

Hi guys, I also wish to tumpang on this thread.

I wish to purchase my first apartment via self financing + epf withdrawal.

I will be paying around 50% cash and hope to apply for Acc 2 withdrawal to address the remaining balance. In short, I'm NOT paying 100% cash first to the seller. I'm hoping the amount withdrawn from EPF can be used to pay the remaining balance.

Does EPF allows such a withdrawal?

As far as I know, only 10% of your house value you can withdraw from Acc 2.

Are you sure? I refer to KWSP FAQ's:

Self-Financing withdrawal:

The purchase cost + additional 10%
OR
Entire savings in Account 2
(whichever is lower)

Confirm your understanding is correct.

Hi, if i purchase property under my name but loan join with husband. Can both of us withdraw epf for our deposit? I’ve been informed that since property under my name, acc 2 can only withdraw my epf account but not husbnd.

If I am not wrong, I think your husband can withdraw after the purchase to reduce the loan.