KWSP Withdrawal to Reduce/Redeem House Loan, Consider Advance or Prepayment?
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 Apr 24 2021, 05:58 PM
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#1
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Junior Member
286 posts Joined: Nov 2016  
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QUOTE(skyhyk88 @ Apr 23 2021, 06:29 PM) i applied for a lump sum, reduce/redeem housing loan, not the monthly installment payment EPF will directly credit it into your housing loan account to reduce loan amount There is no such thing as into your own personal account If the current dividend given by EPF is higher than your housing loan interest, just keep it inside EPF |
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Apr 24 2021, 06:02 PM
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#2
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Junior Member
286 posts Joined: Nov 2016
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QUOTE(gashout @ Apr 24 2021, 12:04 AM) This is correct You need to calculate the housing loan as compounding interest and EPF is yearly dividend interestWe were hoping so too. But reality isn't. Not worth using 6% interest capital to reduce a 3% loan. I learned my lesson. This is correct |
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