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The Employee Provident Fund (“EPF”) allows you to withdraw your savings in Account II
to part finance the purchase of a house from a developer, an individual or public auction.
WITHDRAWAL ELIGIBILITY
You are eligible to apply if :-
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- You are a:
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- Malaysian Citizen ;
- Non-Malaysian Citizen with Permanent Resident (PR) status ;
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- You have not reached 55 years of age on the date the application is received by EPF .
- You still have savings in Account II.
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CONDITIONS FOR WITHDRAWAL
1. You have purchased a house or residential property or a shophouse with a dwelling unit
OR
You have purchased a piece of land and build a house on it simultaneously (the date of Land Purchase
Agreement with the House Construction Agreement must be within 6 months);
2. You have executed the Sale and Purchase Agreement not more than three years on the
date the application is received by EPF; and
3. You have never withdrawn your EPF savings for financing purchase of a house/residential property
OR
You have purchased a second house and had earlier withdrawn your EPF savings for
housing but you have sold the first house and subsequently purchased another
house (you must produce the proof of sale of the first house).
However, you
arenot eligible to make withdrawal for the purpose of :-
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Purchasing a piece of land or a housing lot only.
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Making renovation, repair or extension to an existing house.
AMOUNT ELIGIBLE FOR WITHDRAWAL
| 1. |
You can withdraw your savings based on the following, whichever is lower: |
| a. |
Individual Purchase |
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The difference between the purchase price of the house and the housing loan with an additional 10% of the purchase price of the house |
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OR |
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The balance available in Account II. |
| b. |
The difference between the purchase price of the house and the housing loan
with an additional 10% of the purchase price of the house |
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OR |
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The balance available in Account II of all applicants subject to the maximum eligible amount as stated above. |
| 2. |
If you obtained a full housing loan (100%), you are eligible to withdraw as much as 10% of the purchase price of the house OR the balance available in Account II, whichever is lower. |
| 3. |
If you purchased a house by cash, you are eligible to withdraw as much as the purchase price of the house with an additional 10% thereof OR the balance available in Account II, whichever is lower. |
| 4. |
You can choose to determine the amount you wish to withdraw from your savings in Account II, subject to the maximum amount eligible for withdrawal. You will be required to complete "Surat Akujanji
Pilihan Amaun Pengeluaran" for this purpose |
| Note: |
After making this withdrawal, you are eligible to withdraw your savings to reduce/redeem the housing loan for the same house once in three years. For further information, please refer to Reduce/Redeem Housing Loan Withdrawal at http://www.kwsp.gov.my
With effect from 1st January 2008, you can make monthly withdrawals from your Account II to assist in the monthly repayment of your housing loan installments. |
ENQUIRIES
If you have any enquiry or require further information on this withdrawal, please visit http://www.kwsp.gov.my or contact:-
| Your nearest EPF office |
| Call EPF Management Centre (Tel : 03-8732 6000) |
| E-mail : enquiry@epf.gov.my |
Please quote your EPF membership number and you are encouraged to contact the EPF directly for assistance and advice.
** This information is only a guide and has been taken from KWSP website**
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