Wednesday, January 12, 2011

Withdrawing EPF to buy our house

I'm richer by a few thousands this month.

First of all because I did a part time training on Latex last week, and they gave me some cash! Yay! Alhamdulillah :) Ingatkan nak ajar suka2 je.

Photo from google

And secondly because I just withdraw my EPF!

I know, ryte? Sukehati je keluarkan EPF this early. Plus, my savings are already enough for me to pay the downpayment. Mum pun bising.

But listen to my point! The interest of EPF for every year is only around 4%! If i saved it in my ASB, I could get at least 7% a year. Go figure yourself which is better!

Because it gave me a lot of headache calling and dropping by Jalan Reko's EPF to ask about the procedure, I figured I might as well share with all of you on the procedure.

Anyway we are purchasing a house from a vendor, not from developer, so the procedure might varies.

Here goes the steps:

1) What you need is borang pengeluaran KWSP 9c --> Get it here
2) Then a photocopy of your IC depan belakang.
3) Buku bank (but I just photostate the statement from my CIMBclicks)
4) Copy of Sale and Purchase agreement verified by your SNP's lawyer (I brought also the original, borrowed from bank since some EPF branch needed it)
5) Bank loan agreement - both original and photostate verified by your bank loan's lawyer.
6) If the house is under your husband's name and you, a copy of your sijil nikah.
7) Geran tanah if you have the individual title already, else you have to get a letter from the DEVELOPER, not from lawyer.

Then you submit all the forms. And within 14 days, they will bank in the money to your account. Wheee!!

As of how much you can withdraw, you can take out as high as 10% from the price of your house, but if your EPF savings in Account 2 is lower than that, you can withdraw everything in Account 2.

Hope it helps. :)

1 comment:

James said...

Very informative that for sure will help a lot of people will are intended to withdraw money from EPF to buy their house and pay for housing loan.