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Should I withdraw EPF Account 2 for house downpayment?
Buying first house, short of downpayment. Can withdraw from EPF Account 2 for property. Bu…
1,428 views
Can I use EPF Account 2 for house downpayment ah?
First time buying rumah in Kajang, agent say I can tap KWSP Account 2 for the downpayment. But I scared later retirement kosong. Anyone done this before, worth it or not?
Anonymous asker ·Asked on 5 hours ago ·846 views ·4 answers
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Best Answer
Mamak Boss Muthu Beginner First-hand experience Run my mamak in Brickfields 20 years, ask me about staff, supplier and roti canai margin.
Did it last year for my apartment in Seri Kembangan lah. Go KWSP website, login i-Akaun, apply under "Pengeluaran Perumahan". You need the S&P agreement plus loan offer letter from bank. Money masuk in about 2 weeks. One thing ah, you can only withdraw the difference between 90% margin and the property price, so calculate first. Best part is Account 2 tu memang for housing purpose, so dont feel guilty. My Account 1 still growing with dividend, so retirement not affected much. Just make sure your loan approved first before apply, otherwise reject.
Anonymous contributor Beginner First-hand experience
Honestly bro I regret using mine. Yes senang la at the time, but EPF dividend last few years around 5-6%, better than FD. When I withdrew RM40k, I basically gave up years of compounding. If you have other savings for downpayment, use that first. Only touch KWSP if betul betul no choice. Retirement will come faster than you think lor.
Fitness Bro Arif Beginner First-hand experience Personal trainer and ex-nurse, I help you diet betul and gym tanpa kena scam supplement.
Just adding, you can also use EPF for monthly instalment (Pengeluaran Pengurangan/Penyelesaian Pinjaman Perumahan) not just downpayment. I use mine to reduce my loan principal every year, saves a lot of interest over 30 years. Two different withdrawal types, check betul betul which one you apply mah.
Anonymous contributor Beginner First-hand experience
Prepare all documents scan clear clear. Last time my application delayed because IC copy blur and S&P missing one page. Also the house must be in your name or joint with spouse. Cannot use for parents punya house one.
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