You may use your CPF savings in your Ordinary Account to buy a flat as well as service the housing loan. However, you must get prior approval from HDB or the Official Assignee if you are buying an Executive flat. If you are above age 55, you may also use your CPF savings in excess of the Minimum Sum cash component in your Retirement Account to buy the flat and repay the housing loan.

 

If you had used your CPF savings to buy an HDB flat before you became bankrupt, you can continue to use your CPF savings to repay the housing loan.

You will not be able to use your CPF savings to make a new purchase of a private property after you have been declared a bankrupt. However, if you are already using your CPF savings to repay your housing loan on a private property, you can continue to do so even after you are declared a bankrupt.