a)

If you are taking a HDB concessionary loan
You can use up to 100% of your CPF Ordinary Account savings to pay the initial 10% deposit as well as the balance of the purchase price.

If your existing CPF balance is not enough for full payment of the purchase price, you may take up a housing loan from HDB subject to credit assessment by HDB, and use all the monthly contributions to your Ordinary Account for the instalment payment of the loan. Use our Monthly Instalment Calculator to find out the monthly instalment payable on a housing loan.

Also, HDB requires you to use all your CPF Ordinary Account savings first before granting you any housing loan.

If you are taking a bank loan
You have to make a cash downpayment of at least 5% of the Valuation Limit (VL) if you do not have any outstanding housing loan with HDB or any financial institution regulated by the Monetary Authority of Singapore (MAS) at the time of your property purchase. You may refer to MAS website at www.mas.gov.sg for more information on the minimum cash downpayment that you have to pay. The VL is the lower of property price or property value at the time of purchase. 

You can use your Ordinary Account savings, and future monthly CPF contributions to your Ordinary Account to pay for the flat and/or to service the monthly instalments on the housing loan. The total amount of CPF you may withdraw cannot exceed the VL.

If your housing loan is still outstanding when your total CPF usage for the flat has reached the VL and you are below the age of 55 you may continue to use the excess in your CPF Ordinary Account savings up to the applicable Housing Withdrawal Limit to repay the housing loan after setting aside half of the prevailing Minimum Sum. Savings in the Special Account (including the amount used for investments) and Ordinary Account can be used to meet half of the prevailing Minimum Sum.

However, if you are 55 years and above when the VL is reached, you may use the excess CPF Ordinary Account savings up to the applicable Housing Withdrawal Limit to repay the housing loan after setting aside your Minimum Sum cash component shortfall.

Please note that the monthly service, conservancy and other charges relating to the use of the property, including taxes, cannot be paid with your CPF savings. You have to pay for these using cash.

Click here for more information on Public Housing Scheme.

b)

If you are taking a HDB concessionary loan
You can use up to 100% of your CPF Ordinary Account savings to pay the initial 10% deposit as well as the balance of the purchase price.

If your existing CPF balance is not enough for full payment of the purchase price, you may take up a housing loan from HDB subject to credit assessment by HDB, and use all the monthly contributions to your Ordinary Account for the instalment payment of the loan. Use our Monthly Instalment Calculator to find out the monthly instalment payable on a housing loan.

If your housing loan is still outstanding when your total CPF usage for the flat has reached the Valuation Limit (VL) and you are below the age of 55, you may continue to use the excess in your CPF Ordinary Account savings to repay the housing loan after setting aside half of the prevailing Minimum Sum. Savings in the Special Account (including the amount used for investments) and Ordinary Account can be used to meet half of the prevailing Minimum Sum. The VL is the lower of the property price or property value at the time of purchase.

If you are taking a bank loan
You have to make a cash downpayment of at least 5% of the Valuation Limit (VL) if you do not have any outstanding housing loan with HDB or any financial institution regulated by the Monetary Authority of Singapore (MAS) at the time of your property purchase. You may refer to MAS website at www.mas.gov.sg for more information on the minimum cash downpayment that you have to pay. The VL is the lower of the property price or property value at the time of purchase.

 

You can use your Ordinary Account savings, and the future monthly CPF contributions to your Ordinary Account to pay for the flat and/to service the monthly instalments of the housing loan. The total amount of CPF you may withdraw cannot exceed the VL.

If your housing loan is still outstanding when your total CPF usage for the flat has reached the VL and you are below the age of 55 you may continue to use the excess in your CPF Ordinary Account savings up to the applicable Housing Withdrawal Limit to repay the housing loan after setting aside half of the prevailing Minimum Sum. Savings in the Special Account (including the amount used for investments) and Ordinary Account can be used to meet half of the prevailing Minimum Sum.

 

Click here for more information on Public Housing Scheme.

c)

You have to make a cash downpayment of at least 5% of the Valuation Limit (VL) if you do not have any outstanding housing loan with HDB or any financial institution regulated by the Monetary Authority of Singapore (MAS) at the time of your property purchase. You may refer to MAS website at www.mas.gov.sg for more information on the minimum cash downpayment that you have to pay. The VL is the lower of  property price or property value at the time of purchase.

 

 

Click here for more information on residential properties.

To find out how much you can withdraw from your CPF for housing, log on to our Housing Withdrawal Calculator.