Anyone tried withdrawal via i-akaun instead of physically going to the epf office? Which option did you choose.

There's two withdrawal option - 1) Build Home , 2)Reduce/Redeem Housing Loan.

The 1st option doesn't have Maybank - Only has 4 banks listed while the second option has a long list of banks.

build home is applicable if you buy a land and build home on top the land

if you buy house you will need to choose Reduce/Redeem Housing Loan

you can download the application form from EPF website and print it out, but you need to go to the office to submit the hardcopy along with your SNP, you can check the website for the document needed

when you submit the document, they will need to read your MyKad and require physical thumbprint on the document for verification purpose

in the form itself you write down the bank that you want them to transfer the money to, wait for around 7-14 working days then check your bank account

This post has been edited by amduser: Aug 29 2019, 08:38 AM

sorry to interrupt, I need to pay the 10%down payment first then apply for EPF?

U can do either.

Pay 10% down payment on your own 1st while waiting for release of epf fund or just inform the developer and wait for the release of epf fund to pay the 10% down payment.

Thank you, then i better apply first before pay.

Hi to All..i got a question to ask..

I'm planing to withdraw Epf account 2 to reduce my house loan but some of friends told me the money from account 2 will be automatically credited into my house loan account and some told it will be credicted into my personal bank account (Which i can use the money for other purpose)

So which 1 is correct now?

This post has been edited by lumhbk: Oct 23 2019, 11:12 PM

Hi. Interested to know about this too as a friend just asked recently.

Did you manage to get a proper answer for your earlier question?

I have been using EPF account 2 to help pay my monthly installment at my 1st property last year when recently collected the keys. Pretty easy process, went to KWSP branch in puchong, just brought all related things, S&P front page copy, loan agreement to show how much monthly and then balance of whats in ac 2 and such. And from there, you can choose which account it goes in. So every 24th of the month, they bank in automatically to my savings ac.

There are few types of withdrawal. If it's meant for reducing house loan, it will be credited to your housing loan account.

If for monthly installment, will be credited to your savings account if you are paying your monthly installment via auto deduction from your savings account.
If it's first time withdrawal for buying house, then will be credited to your savings account.

This post has been edited by shadow_fax: Jan 16 2020, 04:28 PM

Can I still withdraw account 2 to Reduce/Redeem Housing Loan for my second house with the following condition?

1) Withdraw Account 2 before for my first house to Reduce/Redeem Housing Loan
2) First house is still not sold yet

Can not.

What if the first house loan already paid off, possible to withdraw account 2 to reduce housing loan for second house?

Sir, you need to dispose your first property. If you just finish paid your house, it does not count as a disposal of property. The purpose of EPF is retirement savings, not for an investment tools.

for ur gf, need to get rid of her name on the first house to continue with the withdrawal...

and for 2nd house, they insist on Borang Gadaian 16A...proof of dispose first property...

that was my experience...

make sure ur doc is really complete...if not gonna visit epf more than once...

do i have to pay first for the house before applying? buying from a pre owned house. Even thro its only 2 weeks but i dont wanna trouble my parents for the money

Hi I want to ask, i'm going to buy my first house. Its subsale and not from developer.
The house price 440k and loan approved amount is 396k. May i know how much i can withdraw from acc2?
Is it 44k or 88k?
Secondly, the house already issue strata title but the owner havent transfer to his name yet and still under developer name. So when i want to apply for epf acc 2 do i need to transfer the name to my self first and bring the proof of document or not require and just need S&P and loan offer letter?

This boy bangang...............never buy anything with your gf/bf.......

Things can change in a blink of an eye

Nothing is certain in the future ... including parents marriage ... might need few blinks !

Join purchase can start with a good intention and can ends with a mutual agreement. Is always the greedy that makes things complicated.

Just like a contract, you cant do much if the other party does not want to perform his obligations and things can change in a blink of an eye !

Forever NEVER sign contract ?

This post has been edited by mini orchard: Jul 30 2020, 08:47 AM

big developer wont wait u

You just need to maintain RM500 Balance. You can withdraw up to RM14500.