CPF Withdrawal Limit – Singapore HDB flat for sale
To prevent buyers from over-using the CPF on property repayment, CPF has set a Withdrawal Limit (WL) under the following conditions: Singapore HDB flat for sale.
- CPF can be used to pay monthly housing instalments up to the Valuation Limit (VL).
- If your housing loan is still outstanding when the total CPF usage for the property reaches the VL and you are below the age of 55, you may continue to use your CPF Ordinary Account savings to repay the housing loan up to the applicable Withdrawal Limit if you can set aside half of the current Minimum Sum (MS). Savings in the Special Account (including the amount used for investments) and Ordinary Account can be used to meet this required amount.
- However if you are 55 years and above when the VL is reached, you may use the excess CPF Ordinary Account savings to repay the housing loan after setting aside half of the Minimum Sum that is applicable to you.
- For bank loan, after setting aside the prevailing Minimum Sum cash component, the owner can continue to use CPF in the Ordinary Account to pay for the monthly instalments up to the WL which is currently at 120% of VL. Singapore HDB flat for sale.
- For HDB loan of new HDB flats, there is no requirement to set aside any Minimum Sum (whether before or after age 55) or any withdrawal limit.
- For HDB loan of resale flats, after setting aside the prevailing Minimum Sum cash component (whether it is before or after age 55), the owner can continue to use CPF in the Ordinary Account to pay for the monthly instalments without any WL.
- In the case of HDB loan, CPF Board will cease the CPF monthly deduction when there is no CPF contribution for 6 consecutive months. Singapore HDB flat for sale.
Schedule of CPF Withdrawal Limit:
| Date Property Bought | CPF Withdrawal Limit |
| 1 Sep 2002 – 31 Dec 2003 | 150% VL |
| 1 Jan 2004 – 31 Dec 2004 | 144% VL |
| 1 Jan 2005 – 31 Dec 2005 | 138% VL |
| 1 Jan 2006 – 31 Dec 2006 | 132% VL |
| 1 Jan 2007 – 31 Dec 2007 | 126% VL |
| 1 Jan 2008 onwards | 120% VL |
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