EPF Withdrawal To Purchase A House

INTRODUCTION

This withdrawal allows you to withdraw your savings in Account II to part finance the purchase of a house as follows :-

1.Individual purchase ; or

2.Joint purchase with spouse, family members or other individuals.

This withdrawal also allows you to purchase a house from the developer, an individual or public auction.

WITHDRAWAL ELIGIBILITY

You are eligible to apply if :-

You are a :

1.Malaysian citizen ;

2.You have not reached 55 years of age on the date the application is received by EPF.

3.You still have savings in Account II.

CONDITIONS FOR WITHDRAWAL

1.You have purchased a house (house types : bungalow / terrace / semi-detached / flat / condominium / apartment / studio apartment / service apartment / town house) or a shophouse with a dwelling unit ; and

2.You financed the purchase of the house by obtaining a housing loan from any financial institution approved by EPF OR

You purchased the house by cash ; and

3.You have executed the Sales and Purchase Agreement not more than three years on the date the application is received by EPF ; and

4.You have never withdrawn your EPF savings for housing OR

You purchased a second house - You have withdrawn your EPF savings for housing before this but you have sold the house and subsequently purchased another house (you must produce the proof of sale of the first house).

5.You wish to purchase a house by way of hire purchase from any authority authorised by EPF.

6.You purchased a piece of land and build a house on it simultaneously (the date of Land Purchase Agreement with the House Construction Agreement must be within 6 months).

However, you are not eligible to make withdrawal for the purpose of :-
1.Purchasing a piece of land or a housing lot only.
2.Renovate, repair or make extensions to an existing house.

AMOUNT ELIGIBLE FOR WITHDRAWAL
You can withdraw your savings based on the following, whichever is lower :

1.Individual Purchase
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 II.

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 II 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
the 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
the balance available in Account II, whichever is lower.

You can choose to determine the amount you wish to withdraw from your savings in Account II, subject to the maximum amount eligible for withdrawal. You will be required to complete "Surat Akujanji Pilihan Amaun Pengeluaran" for this purpose.

Source: www.kwsp.gov.my