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 EPF withdrawal for housing

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DragonReine
post Mar 23 2021, 08:38 PM

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QUOTE(one.malaysia @ Mar 10 2021, 12:32 AM)
Hi guys, i have few question for withdrawal account two for housing:-

1) Do i photocopy the entire S&P and loan agreement? Or the summary pages will do?
2) How do i certify the S&P? Can it be certify by the kwsp officer if i bring along the original documents?
Thx!
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1) Entire S&P
2) Can request certified copy from your lawyer, but my case counter KWSP officer can verify provided you bring ori documents.
DragonReine
post Apr 7 2021, 01:13 PM

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QUOTE(feeliplee @ Apr 6 2021, 12:03 PM)
Hi there. I've made a withdrawal from acc2 about 2-3 years ago for a property i bought. I withdrew everything in acc2. Now, My acc2 has 'reloaded' biggrin.gif I'm wondering if I can withdraw everything from my acc2 again for the same house? Thanks in advance!
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Yep, can take withdrawal for reduce/redeem housing loan, or to reduce instalments biggrin.gif
DragonReine
post Apr 8 2021, 08:09 PM

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QUOTE(1234_4321 @ Apr 8 2021, 05:34 PM)
Does anyone withdrawing Isinar to pay the housing loan in advance?
Does it worth?
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99% of the time, no, because EPF dividends > most housing loan interest rates, you're not really saving money unless you're trying to fully settle to clear debt.
DragonReine
post Jul 15 2021, 12:29 PM

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QUOTE(Ichighost @ Jul 15 2021, 12:14 PM)
bought a house in December last year and the he 10% has settled., target completion of the house around 3rd or 4th quarter 2022.

my question, can I still withdraw EPF for renovation? I already have the CTC of the SPA with me. My plan is to withdraw after dividend calculation next year. Any time limit to claim? or any other things to consider?

Thanks in advance.
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Can, but must follow their conditions:

1) Must have never drawn from EPF before for housing purchase (if you already made housing withdrawal before for another property, you must have sold/disposed of the previous property)

2) Eligibility period to withdraw is 3 years from SPA signing date.
DragonReine
post Mar 9 2022, 01:58 AM

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QUOTE(myrancid @ Mar 8 2022, 10:10 PM)
Is it possible to withdraw to buy shoplot?
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Only shoplot with residential unit attached as per rules here: https://www.kwsp.gov.my/en/member/withdrawa...artial/buy-home that withdrawal is for a residential home*

*Residential Home - bungalow/terrace/semi-detached/apartment/condominium/studio apartment/service apartment /townhouse/SOHO) or a shop lot with a residential unit from a developer in Malaysia

This post has been edited by DragonReine: Mar 9 2022, 01:58 AM
DragonReine
post Mar 25 2022, 05:54 PM

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QUOTE(Calvin Seak @ Mar 25 2022, 06:59 AM)
Hi all,

I tried searching this thread but couldn't find any answer

Me and my fiance(Will be officially married by May2022) are planning to get a place and was wondering about EPF withdrawal for a home (Haven't purchased yet)

Here is the situation

She is currently servicing 1 loan for housing (Haven't withdrew from EPF) - 1 property

I have more than 2 housing loans (Withdrew from EPF for 1 of my unit) - More than 2 properties

The S&P and loan would only be under her name.

Will I be able to withdraw from my account 2?
Under
3. Proof of Relationship
Marriage Certificate
OR
Birth Certificate

user posted image

From my understanding, I am unable as I have made a pengeluaran once from EPF to purchase a home

user posted image
https://www.kwsp.gov.my/en/member/withdrawa...#newdevelopment

But from their page above, is the pengeluaran allowed for 2 properties?

I hope I have made my self clear, thank you all so much for your time  notworthy.gif  notworthy.gif
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If it's withdrawal to put downpayment for your new home (pengeluaran beli rumah)

you CANNOT withdraw from your account 2 (SPA not your name + you've withdrawn before), but your fiance can withdraw from her account 2 (since it's her first withdrawal)

What you CAN do to make use of your account 2 money is to make use of the "withdraw to reduce/redeem monthly instalment/home financing" option to withdraw from your account 2 to "repay" your wife (must be registered as married) loan. As EPF usually just deposits the money in your savings account, you can use it to top up your wife's EPF (subject to the maximum amount of top-up per year) or use it to pay the loan instalments.
DragonReine
post Apr 26 2022, 10:12 AM

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QUOTE(adam1190 @ Apr 26 2022, 01:58 AM)
Hi, may I know which statement is needed in the end? Is it the kwsp format or just a copy of bank loan statement from the bank will do?
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Request from bank that you're intending to make EPF withdrawal, most banks know the standard format for withdrawal.

Alternately, use the e-pengeluaran online feature through i-Akaun to speed up the process without going back n forth between bank n EPF if your loan is one of the following partner banks:

Affin Bank Bhd
Alliance Bank Bhd
AmBank Bhd
Bank Islam (M) B
Bank Muamalat Bhd
Bank Simpanan Nasional
CIMB Bank Bhd
Hong Leong Bank Bhd
Lembaga Pembiayaan Perumahan Sektor Awam (LPPSA)
Maybank Bhd
OCBC Bank
Public Bank Bhd
RHB Bank Bhd
United Overseas Bank Bhd
DragonReine
post Apr 28 2022, 04:10 PM

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QUOTE(KTCY @ Apr 28 2022, 04:06 PM)
Hi. for withdrawal to reduce/redeem housing loan, how fast the process ya ?
status changed to registered but not sure what does it mean
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Usually will get funds in your account around 2 weeks from application submission, provided all documents complete.
DragonReine
post May 3 2022, 02:03 AM

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QUOTE(officepw @ May 2 2022, 11:34 PM)
Hi guys, do you suggest withdrawing epf with such a good interest rate returns for property or do you think using my FD deposit is better for down payment? Any suggestions please?
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if based on maths and assuming you're not using up emergency savings, obviously use your FD first

EPF withdrawal should only ever be used for emergency case (read: loss of job/income), or if you have much higher performing investments elsewhere that can cover your loss, or you're able to save up and give extra contribution over time to cover the withdrawal.

Remember that housing loan is unlikely to ever be higher than EPF dividends (which means any EPF money used to pay a housing loan is going to be a loss in future dividends), and FD's interest rate will not beat inflation in long term (RM10k now will only have the spendinb power of RM5k in the future)

This post has been edited by DragonReine: May 3 2022, 02:05 AM
DragonReine
post Nov 9 2022, 03:24 PM

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QUOTE(RokXIII @ Nov 7 2022, 11:29 PM)
i have withdrawn EPF for my 2nd property (under "Buy Home" and "Reduce/Redeem Housing Loan") before
*
Do you still own this property (title deed of property still under your name)? If yes, withdrawal again is NOT allowed.

If you no longer own it (sold off/disposed of) then yes, you can withdraw again.

EPF will ask you to show documents for proof that 2nd property is no longer yours. Go to this link (EPF Withdrawal for Home Purchase) and check the tabs under Additional Documents -> 2nd Home, picture below shows it circled:

user posted image

This post has been edited by DragonReine: Nov 9 2022, 03:29 PM
DragonReine
post Feb 6 2023, 04:37 PM

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QUOTE(elm0001 @ Feb 2 2023, 06:04 PM)
i’m planning to withdraw to settle down payment

dividend for 2022 is not out yet. will i be eligible for the dividends based on my entire 2022 savings? or dividend will be paid out based on the 2022 total minus the downpayment amount? or will i even be eligible for dividend at all for 2022?
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Dividends are calculated based on your daily aggregate balance as of end of the year. So 2022 dividends are calculated based on balances of the year 2022.

Any withdrawal you make now will affect your 2023 dividends (paid on early 2024) and will not affect your 2022 dividends. Your 2022 dividends will still be paid out even if you empty out your akaun 2.

This post has been edited by DragonReine: Feb 6 2023, 04:38 PM
DragonReine
post Feb 7 2023, 07:44 AM

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QUOTE(elm0001 @ Feb 6 2023, 04:57 PM)
thanks for the info! appreciate it

so even if i’ve emptied out acc 2 now, and accumulated some amount from salary in 2023, i still won’t be eligible for the dividend for 2023?
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🤔 I'm not sure if this is what you mean (I haven't had my morning coffee), but withdrawal doesn't mean you're "ineligible" for dividends. It simply means you have less as your daily average is less. The only way to get 0 dividends is if your account(s) has had 0 balance for all days of the year. If even one day has a single ringgit, that ringgit with give a dividend (even if miniscule).

The dividends paid in 2023 is for the balance of year 2022. Your withdrawal for this year will affect the dividends paid in the beginning of 2024.
DragonReine
post Apr 22 2024, 09:30 AM

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QUOTE(moiskyrie @ Apr 21 2024, 03:35 PM)
anyone housing option greyout?
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Need to login through i-Akaun Classic on web browser.

Mobile app and the new i-Akaun have not activated housing options.
DragonReine
post Apr 22 2024, 11:12 AM

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QUOTE(moiskyrie @ Apr 22 2024, 10:48 AM)
Oh...later I try...
They want to stop people from withdraw before implement acc3 ?
*
No lah, they not yet created the portal to withdraw for housing in the new site/app laugh.gif it's been like that for months already.
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