-This withdrawal allows
you to withdraw your Account 2 savings to finance the purchase of a house.
-Withdrawal to purchase a second house is allowed after the first
house is sold or disposal of ownership of property has taken place. Disposal
of ownership refers to ‘loss of ownership of the first house owned through
previous EPF withdrawal’ either due to auction, surrender of property
by court order, transfer of ownership because of love and affection,
destruction of house due to natural disaster, abandoned housing project
or cancellation of purchase.
Withdrawal Eligibility
(i) A Malaysian Citizen; OR
(ii) A Malaysian Citizen who has made Leaving the Country
Withdrawal before 1 August 1995 and has opted to re-contribute to the EPF; OR
(iii) A Non-Malaysian Citizen who:
-Has become
an EPF member before 1 August 1998; OR
-Has obtained
a Permanent Resident status (PR).
-You have not reached 55 years of age at the time the EPF
receives your application; AND
-You have at least RM500.00 of savings in Account 2.
Terms of Withdrawal
You are eligible to apply if:
1. You buy or build a residential house (type: bungalow /
terrace / semi-detached / apartment / condominium / studio apartment / service
apartment /townhouse / SOHO) or a shop lot with residential unit.
2. The purchase is financed through:
(i) Housing loan from any of the
institutions as follows:
-Financial Institutions licensed under the Banking and Financial
Institutions Act 1989 (BAFIA)
-Central / State government or any other government financial agencies
-Member’s employers
-Cooperatives / Cooperative Companies with license (approved by Malaysian
Cooperative Commission,
Ministry of Entrepreneur and Cooperative Development)
-Licensed insurance companies approved by the Central Bank of Malaysia
-Loan
providers allowed by the EPF
OR
(ii) Cash purchase.
3. You have signed the Sale and Purchase agreement of not more than three (3) years at the
time your application is received by EPF.
4. You have never made a Housing Withdrawal; OR you have made a withdrawal to
purchase your first house and have sold the house or disposal of ownership
has taken place and subsequently buy a second house. Proof of sale / disposal
of ownership of the first house must be submitted.
5. You intend to buy a house which has been acquired from a
rental with a view of purchase agreement from a party authorised by EPF.
6. You have bought a land and built a house on the same land
simultaneously (dates of the agreement to purchase the land and the agreement
to construct the house must be within 6 months).
You are not eligible to apply if
you:
-Buy a land or a house lot only
-Renovate, repair or do additional work to the existing
house
-Ownership of property is not via sale and purchase
transaction
-Have taken an overdraft loan
-Buy a third house
-Buy a house abroad
Withdrawal Amount Eligibility
You can withdraw your savings as follows, whichever
is lower but not less than RM500.00:
·
Individual Purchase
-The difference between the price of the house and the housing loan with an additional
-The difference between the price of the house and the housing loan with an additional
10% of the price of the house
OR
-The balance
available in Account 2.
·
Joint Withdrawal With Spouse, Family
Members or Other Individuals
-The
difference between the price of the house and the housing loan with an
additional 10% of the price of the house,
OR
-The
balance available in Account 2 of all applicants subject to the maximum
eligible amount as stated above.
·
If
you obtained a full housing loan (100%),
you are eligible to withdraw as much as 10% of the price of the house OR all
balance available in Account II, whichever is lower.
·
If
you purchased a house by cash, you
are eligible to withdraw as much as the price of the house with an additional
10% of the price of the house OR all balance available in Account II, whichever
is lower.
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