USE EPF TO PAY YOUR “HOME LOAN MTHLY INSTLMT”
Do You know you can pay your monthly installment for your home loan through your epf account 2.
Yes,You can use your epf account 2 money to pay your housing loan installments if you have enough money in your epf account 2 to reduce your monthly commitment. Also you can do it for first house or second house or third or fourth – there is no limit but limited to one home which you can check about this in the nearest EPF office.
Normally EPF pay this amount monthly to your recommended bank account or credit directly to your home loan account whichever preferred by you.But make sure your account2 have money for atleast 6months installment Since minimum number of months is 6 and you can renew thereafter.
if your home loan monthly installment is rm 2000 and your EPF account2 have a savings of rm 20000
You can put for 10 months then at the expiry date during 10th month and you can go to the EPF office and renew for another term depending on the remaining amount .
But if let’s say
your monthly installment is rm 2000 and your EPF account2 have a savings of only rm 10000
EPF will divide that 10000 into 6 and bank in the amount of rm 1666 to your account
so the balance amt of rm 333 you need to top up on your own every month.Then at the expiry date during 6th month and you can go to the EPF office and renew for another term depending on the remaining amount.
Important points to take note:
- The most important documents needed to apply for this is your ic and the statement from your house loan bank and this statement you should get only from the respective branch of the bank who approved your loan.
- Always recommended fastest way to get it done is to goto the nearest EPF office with all necessary documents and apply at the EPF counter. It will take only few minutes to do it.
Please read the below eligibility, list of documents needed,terms & conditions,payment mode etc before heading to the epf office.
TERMS OF WITHDRAWAL
WITHDRAWAL AMOUNT ELIGIBILITY
- If the information in your Housing Loan Balance Statement is not complete, you are required to produce all related supporting documents such
as Sale and Purchase Agreement OR Proof of Mortgage / Surrender of Ownership (Mortgage Form & Title Deed OR Deed of Assignment).
- If the refinancing is more than once, you are required to produce all Loan Approval Letters and all debt redemption letters f rom the previous
- EPF reserves the rights to request any additional documents and reject any incomplete applications or those that do not comply with the terms and conditions.
ATTENTION TO APPLICANTS
CANCELLATION OF WITHDRAWAL
MODE OF SUBMISSIONS
If you have any enquiry or require additional information regarding this withdrawal, kindly contact:Any nearest EPF Office .
EPF Call Management Centre (CMC) at: 03-8922 6000
Customer Feedback: http://enquiry.kwsp.gov.my
Please quote your EPF number or your Identification Card number and the type of withdrawal that you have applied for when you contact the EPF