The response to this inquiry could be yes or no as it could be in either way. First, we have to understand that money from Account 2 could be withdrew to furnish the need of downpayment with certain documents to be prepared for EPF. Among them, there are 2 items to be highlighted:
1.4 Sale & Purchase Agreement (purchase from developer) OR Proclamation of Sale from Administrator / Court (public auction purchase) which contains the name of the member or names of all members (for joint purchase) and the date of execution does not exceed 3 years on the date the withdrawl application is received.
1.5 If a housing loan is involved, the following documents will have to be produced:
Housing Loan Approval Letter (if the loan approval is less than one (1) year from the date the withdrawal application is received); OR
Housing Loan Approval Letter and Housing Loan Agreement/ Mortgage Form 16A (if the housing loan approval has exceeded one year from the date the withdrawal application is received).
The need of S&P as a part of withdrawal application indicate 1 simple thing. You have to sign a S&P prior you could apply for a withdrawal, which eventually means that, you have to fork out some money for downpayment when you sign the S&P and later on, EPF will reimburse the amount to you. This is how the things are commonly done.
For further details, please refer to the links below:
http://www.kwsp.gov.my/portal/ms/web/kwsp/member/withdrawal-to-purchase-a-house
No comments:
Post a Comment