CPF Withdrawal Limit calculation – Singapore home for rent
Singapore home for rent – The CPF Withdrawal Limit applicable at the time of purchase will apply throughout the loan repayment period. For example, if you have bought a private residential property in Sept 2002, your CPF Withdrawal Limit would be 150% of the VL. Therefore, the amount of CPF that you can use for your property is capped at 150% of the VL. This Withdrawal Limit will not change even if you refinance your loan subsequently.
If your housing loan is still outstanding when the total CPF usage for the property reaches 100% 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 150% of the VL if you can set aside half of the prevailing Minimum Sum. 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 aged 55 and above when the VL is reached, you may use the excess CPF Ordinary Account savings to repay the housing loan up to 150% of the VL, after setting aside half of the Minimum Sum that is applicable to you.
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