We will continue to deduct your Ordinary Account savings to service the monthly instalments, subject to the CPF Housing Withdrawal Limit applicable for your property.
Once the savings in your CPF Ordinary Account are used up, no payment for your housing instalments will be made. Thereafter, if there is no further CPF contribution continuously for six months, we will mail a letter of notification to your address maintained with the CPF Board.
As your financier will charge you interest for any shortfall in payment, you should monitor your Ordinary Account balances and make arrangement to pay cash for your housing instalments as soon as your Ordinary Account balances are insufficient.
If you have taken an HDB loan, please pay cash to HDB directly. If you have taken a bank loan, you may wish to arrange a standing order with your bank to deduct the monthly instalments from your savings or current account with the bank.
For more tips to financing a house, visit our Business Centre in Retirement Ready @ my cpf.
To estimate when you will reach the CPF Housing Withdrawal Limits, click here.
If you wish to perform HDB transactions, click here.