Hi All

I know we can use EPF to purchase a home with 10% down payment.
However, can we use EPF money to renovate the home?

Thanks

cannot withdraw to renovate home/house.
only to buy or reduce loan

Darn
Indirectly EPF is forcing buyer to get new or renovated properties...

Is your home newly purchased or not?

If YES it's newly purchased on loan:-

If it's newly purchased house on loan, you can withdraw the downpayment amount to settle your loan but you're free to do whatever it is you want.

EPF won't directly credit monies to the bank.

If you're still settling the loan amount contact EPF about withdrawing a sum from your monthly EPF contribution to settle your home loan.

If NO existing house no loan:-

You're out of luck EPF is not a viable option.

This post has been edited by aaronpang: May 6 2008, 09:51 AM

For 1st time withdrawal, the money will be credited to any account you state in the form.

For procedure and documents, check out my blog, its somewhere there

Why do u want to take out from EPF with the highest interest no bank can offer, for house renovation?