CPF withdrawal limits for flat with a remaining lease of at least 60 years for bank loan- Singapore property for rent
The lumpsum CPF withdrawn plus the loan taken for the purchase of the flat cannot exceed the CPF Valuation Limit (VL), which is the lower of the purchase price or the value of the flat at the time of purchase as assessed by the Board. The Board reserves the right to release monies based on the value of the flat as assessed by the Board. Singapore property for rent.
If the housing loan is still outstanding when the VL is reached, to continue using your CPF beyond VL, up to WL, you need to meet the following requirements:
- For below 55 years old, to set aside the current Basic Retirement Sum (BRS) in your Special Account (SA) [including the amount withdrawn for investment] and Ordinary Account (OA).
- For 55 years old and above, to meet the BRS in your Retirement Account (RA), SA (including the amount withdrawn for investment) and OA. Singapore property for rent.
The table below shows the schedule of the WL over the years:
| Date of Purchase (e.g. exercise date) | CPF Withdrawal Limit (WL) |
| 1 Jan 2003 – 31 Dec 2003 | 150% of VL |
| 1 Jan 2004 – 31 Dec 2004 | 144% of VL |
| 1 Jan 2005 – 31 Dec 2005 | 138% of VL |
| 1 Jan 2006 – 31 Dec 2006 | 132% of VL |
| 1 Jan 2007 – 31 Dec 2007 | 126% of VL |
| 1 Jan 2008 onwards | 120% of VL |
If you bought your second or subsequent property with CPF savings after 1 July 2006, you must set aside the current Basic Retirement Sum before you can use the excess savings in your Ordinary Account for the second or subsequent property. Savings in the Special Account (including the amount used for investments) and Ordinary Account can be used to meet this required amount.
The total CPF withdrawal for the second or subsequent property will also be capped at 100% of the VL, which is the lower of the purchase price or valuation of the property at the time of purchase, if the remaining lease is at least 60 years. Singapore property for rent.
Source: CPF website.
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