By Ally Che
Hi, my name is Ally Che, a professional property negotiator, and I have years of experience in property investment. With courtesy of Apartment Penang, I would like to share some of my experience/ opinions/ ideas with everyone here.
Many of my customers are unclear with the process of the EPF savings withdrawal to purchase houses, so I would like to share this process with the readers here.
EPF Withdrawal to Purchase a House allows us to utilize our savings from EPF Account 2 to partially finance our purchase of a house individually OR jointly with our spouse or close family members namely parents or siblings.
1) Maximum amount that we can withdraw is as follows:
The difference between the house price and the loan amount + an additional 10% of the house price or all our savings in Account 2 (whichever is lower but not less than RM500)
2) Download and fill in Form KWSP 9C (member) using black ink pen from below link.
3) Bring along below original documents and their photocopies (all in A4 sized paper) to nearest EPF office (Georgetown, Bayan Baru or Seberang Jaya) for verification purposes by the EPF Officer.
- Bank Book or Saving Account Statement or Current Account Statement
- Stamped S&P
- Housing Loan Offer Letter
- Proof of Relationship (marriage certificate, birth certificate) for joint purchase with our spouse or close family members namely parents or siblings
4) Normally EPF officer will inform that we would get the money within 21 days but for my case I received the cash in 1 week after submit the application.
Very simple process, isn’t it?
In my next article I would like to share some of the tips/things to take note when searching good buy in property auction. See you. Thanks.
EPF withdrawal to purchase a house
By Ally Che