I withdraw last friday
today is 3 working days
not get the bank in yet
Financial how long is the kwsp withdrawal
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 May 11 2011, 04:26 PM
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All Stars
21,256 posts Joined: Jan 2003 From: Pekopon  
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May 11 2011, 04:26 PM
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Junior Member
75 posts Joined: Mar 2009
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1st time withdrawal can withdraw within 3 years from the day u bought ur house rite?
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May 11 2011, 04:27 PM
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Senior Member
1,375 posts Joined: May 2010 
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QUOTE(room2009 @ May 11 2011, 04:26 PM) 1st time withdrawal can withdraw within 3 years from the day u bought ur house rite? i didnt see that clause: QUOTE Withdrawal to Reduce / Redeem Housing Loan This withdrawal allows you to utilize your savings from Account 2 to reduce or redeem the balance of your’s or your spouse’s housing loan taken from a financial institution approved by the EPF for the following mode of purchase or construction of a house: * Individual purchase; OR * Joint purchase with spouse, family members or other individuals; OR Withdrawal to reduce / redeem the balance of housing loan of the second house is allowed after the first house purchased utilizing EPF withdrawal has been sold or disposal of ownership of property has taken place. Disposal of ownership refers to 'loss of ownership of the first house owned by you either due to auction, surrender of property by court order, transfer of ownership because of love and affection, destruction of house due to natural disaster, abandoned housing project or cancellation of purchase. Application Eligibility * A Malaysian Citizen; OR * A Malaysian Citizen who has made Leaving The Country Withdrawal before 1 August 1995 and has opted to re-contribute to the EPF; OR * A Non-Malaysian Citizen who: o Has become an EPF member before 1 August 1998; OR o Has obtained a Permanent Resident status (PR). * You have not reached the age 55 at the time the EPF receives your application; AND * You have a minimum savings balance of RM500.00 in your Account 2. http://www.kwsp.gov.my/index.php?ch=p2memb...wdrawtype&ac=40 This post has been edited by furryfluffy: May 11 2011, 04:29 PM |
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May 11 2011, 04:33 PM
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Junior Member
75 posts Joined: Mar 2009
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just found this..
http://www.kwsp.gov.my/index.php?ch=p2memb...rawtype&ac=2683 3. The date of the Sale and Purchase agreement is not more than three (3) years at the time your application is received by the EPF. |
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May 11 2011, 04:43 PM
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Senior Member
1,375 posts Joined: May 2010
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oh no... that is bad... coz what if a person already bought a house more than 3 yrs... then decided to reduce the bank loan & want to withdraw...
Why should it be limited like this? |
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May 11 2011, 04:50 PM
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Junior Member
75 posts Joined: Mar 2009
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i think 1st time withdrawal for house purchase and withdrawal for loan reduce is 2 different withdrawal.
i think i need to call to confirm also.. cos i wanna wait for more money in my account 2 1st then baru withdraw or anybody here have experient? |
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May 11 2011, 07:14 PM
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Senior Member
8,740 posts Joined: Aug 2009
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QUOTE(shinchan^^ @ May 11 2011, 04:26 PM) I withdraw last friday Wait another 10 working days so to get the moneytoday is 3 working days not get the bank in yet |
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Jul 8 2011, 12:31 PM
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Junior Member
243 posts Joined: Jan 2006
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can we use bank statement that print from the online banking? ie: m2u
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Jul 8 2011, 02:54 PM
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Senior Member
1,380 posts Joined: May 2009 From: Petaling Jaya
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can it be like this ?
i signed snp today after 2 years + then only i try to withdraw from account 2 [all of it] that is applicable rite ?  cus if i withdraw now.. let say i can only get 5k.. if after 2 years i can get more.. so i'm thinking if i can withdraw it later.. then better as i can have more $$ to do some renovation |
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Jul 8 2011, 05:58 PM
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Senior Member
3,173 posts Joined: May 2007
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QUOTE(shoden @ Jul 8 2011, 01:31 PM) can we use bank statement that print from the online banking? ie: m2u Don't think so. You will need to bank to prepare the statement with bank's rubber stamp, cover letter, etc |
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Jul 8 2011, 07:01 PM
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Senior Member
2,847 posts Joined: Oct 2010
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2 words
"Very fast" Good job kwsp |
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Jul 11 2011, 12:12 PM
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Senior Member
950 posts Joined: Jan 2003 From: Kuala Lumpur,Cheras 
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QUOTE(CKHong @ Jul 8 2011, 02:54 PM) can it be like this ? yes..you can do so...i signed snp today after 2 years + then only i try to withdraw from account 2 [all of it] that is applicable rite ? cus if i withdraw now.. let say i can only get 5k.. if after 2 years i can get more.. so i'm thinking if i can withdraw it later.. then better as i can have more $$ to do some renovation "3. The date of the Sale and Purchase agreement is not more than three (3) years at the time your application is received by the EPF." Link i will be doing the same way as you  They said first time withdraw money from account 2, all the amount will bank into ur saving account straight. |
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Jul 11 2011, 12:22 PM
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Senior Member
3,173 posts Joined: May 2007
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The money goes into your housing loan account. Not saving account
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Jul 11 2011, 12:48 PM
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Senior Member
1,380 posts Joined: May 2009 From: Petaling Jaya
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QUOTE(RyanTham @ Jul 11 2011, 12:12 PM) yes..you can do so... thank u very much !"3. The date of the Sale and Purchase agreement is not more than three (3) years at the time your application is received by the EPF." Link i will be doing the same way as you They said first time withdraw money from account 2, all the amount will bank into ur saving account straight. Added on July 11, 2011, 12:48 pm QUOTE(kelvyn @ Jul 11 2011, 12:22 PM) The money goes into your housing loan account. Not saving account I thought taking out the money from account 2 for my snp.. will bank in to my saving and not the loan account ?Added on July 12, 2011, 9:51 am QUOTE(kelvyn @ Jul 11 2011, 12:22 PM) The money goes into your housing loan account. Not saving account ok asked sifu already..1st redraw.. it will go to saving account ! yay~ This post has been edited by CKHong: Jul 12 2011, 09:51 AM |
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Jan 30 2012, 08:55 AM
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Senior Member
1,085 posts Joined: Jul 2007
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submitted my form last friday. the EPF folks are amazingly helpful. best government experience ever. =)
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Jan 30 2012, 01:08 PM
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Senior Member
1,380 posts Joined: May 2009 From: Petaling Jaya
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QUOTE(lostasylum @ Jan 30 2012, 08:55 AM) submitted my form last friday. the EPF folks are amazingly helpful. best government experience ever. =) yeah.. i heard many people said that its very efficient.. i hope other government agency have that kind of efficiency...This post has been edited by CKHong: Jan 30 2012, 01:09 PM |
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Jan 30 2012, 02:50 PM
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Junior Member
375 posts Joined: Oct 2008
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so far their pace is commendable. submitted withdrawal application for my 1st house and got the money within 7 days. then my wife submitted her application for "withdrawal to reduce housing loan" and got her money in her bank account within days too. job well done to EPF in this area.
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Jan 30 2012, 02:56 PM
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Senior Member
10,387 posts Joined: Dec 2011
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KWSP now seems very very efficient.
Previously, I buy house and didn't do any EPF withdrawal bcz Its quite slow and lots of stages to be thru. Very happy to hear it is so fast now, means I can increase my budget to buy another house. Haha. |
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Jan 30 2012, 06:34 PM
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Senior Member
652 posts Joined: Dec 2011 From: Kuantan,Pahang 
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QUOTE(Pai @ Dec 19 2008, 09:08 AM) Its about 3-4 weeks of im not mistaken, reasonably fast So rapid..This post has been edited by sojiroseta: Jan 30 2012, 06:35 PM |
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Jan 30 2012, 08:44 PM
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Senior Member
546 posts Joined: Sep 2010
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QUOTE(sojiroseta @ Jan 30 2012, 06:34 PM) So rapid.. If all documentation are done properly, it should takes nothing more than 3 weeks. |
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