EPF withdrawal for housing
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 Apr 19 2019, 06:01 PM
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#1
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Junior Member
52 posts Joined: Nov 2015 
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hi , I'm not sure i can ask here or not so please bear with me .
i buying a studio and the studio price is 255k , have a discount of -10% and then another -5% so will be about 218k , i have make a deposit of 2k only , and now is waiting for loan to approve . my question is that if it approve can i withdraw epf money from account 2 ? |
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Apr 20 2019, 11:53 PM
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#2
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Junior Member
52 posts Joined: Nov 2015
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QUOTE(kennykck @ Apr 20 2019, 10:43 PM) Yes provided this is your first EPF withdrawal for property. If you withdraw once already, you have to sell the previous property before eligible for another withdrawal. yes , this is the first time i withdraw also is my first house also , but i don't really understand how it works , i saw at the kwsp website showing can Withdrawal to Purchase a House but it also show can only withdraw for dawnpayment so are Withdrawal to Purchase a House and Withdrawal for downpayment the same thing ? |
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Apr 21 2019, 11:27 AM
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#3
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Junior Member
52 posts Joined: Nov 2015
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QUOTE(kennykck @ Apr 21 2019, 12:21 AM) Whsat I know is, you can withdraw max 20% of your house value from EPF 2nd account if you borrow 90% loan, or 10% of house value if borrow 100% loan. As to how you gonna use the money after withdrawal (into your bank account), is up to you. i see , thanks for the info (ಡωಡ) |
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