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Private Properties SchemePrivate Properties Scheme<p>​The Private Properties Scheme enables CPF members to use their CPF Ordinary Account savings to buy or build private residential properties in Singapore for their own occupation or investment.​</p>TrueTrueTrueOthers;#

 

 

UnderstandCan I use my CPF savings for my private property?<p>You can use your CPF Ordinary Account (OA) savings to buy or build a private residential property for occupation or investment.</p> <img alt="4 ways to use CPF for private property" src="/Assets/members/PublishingImages/4WaysToUseCPFForPrivateProperty.png" style="width:100%;height:auto;" />Private Properties Scheme16151615
UnderstandAm I eligible to use CPF savings to buy a private property?<p>All CPF members who are eligible to buy a private property are eligible to use their CPF savings. However, you are not eligible if you are buying a private property with a remaining lease of 20 years or less.</p> <p>You can check your eligibility to buy a private property at the <a href="http://www.ura.gov.sg/uol/guidelines/residential-property/Home-Buyers/Sections/Basic-Checks-And-Information.aspx" target="_blank">URA website</a>. To find out more about the use of your CPF savings, you can read the <a href="/Assets/members/Documents/TnC_UseOfCPFUnderCPFHousingSchemes.pdf" target="_blank">Terms and Conditions</a>.</p>Private Properties Scheme16161616
EvaluateHow much CPF savings can I use?<p>There are housing limits on the amount of CPF savings you can use. It depends on:</p><ul style="margin:0px;padding:0px;"><li style="padding:0px;text-align:justify;margin-bottom:5pt;margin-left:20px;">the number of properties (e.g. HDB flat/private property) that you own; and</li><li style="padding:0px;text-align:justify;margin-bottom:5pt;margin-left:20px;">whether the property’s remaining lease can cover the youngest buyer using CPF savings for the property to at least 95 years old. If the duration of the property’s remaining lease cannot cover the youngest buyer to at least 95 years old, CPF usage will be pro-rated based on how near to age 95 the property’s lease can last him/her.</li></ul><p>You can use our <a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/CpfHousingUsage/Input1">CPF Housing Usage Calculator</a> to compute how much of your CPF savings you can use for your property.</p>Private Properties Scheme16181618
EvaluateCan I use my CPF savings to buy more than one property?<p>You can use your CPF savings to buy more than one property. The amount of CPF savings you can use will depend on when your second or subsequent properties was purchased.</p><p>You can refer to “<a href="https://www.cpf.gov.sg/Members/Faq/schemes/Housing/Housing-Scheme?ajfaqid=faq2185521" target="_blank">Purchase of second or subsequent properties</a>” for more information.</p>Private Properties Scheme16191619
EvaluateIf I had bought two private properties, which property will my CPF savings be used to service the monthly instalment first?We will deduct from your Ordinary Account to pay the monthly instalments as requested by you. There is no fixed order of deduction as to which property will be paid first. Please ensure that you have sufficient funds in your CPF account for the monthly instalment deductions. Private Properties Scheme16091609
EvaluateWhat will happen to my sale proceeds upon the sale of my private property?The sale proceeds will be used to pay off the outstanding housing loan taken to buy the private property and the required CPF refund in the order agreed among the owners, financiers and the Board. Private Properties Scheme16111611
EvaluateHow much do I need to refund to my CPF upon the sale of my private property?<p>If you have used your CPF savings to finance your private property, you will have to refund the following to your CPF account:</p><ul><li>the principal CPF amount (P) which you have withdrawn for the private property; and</li><li>the accrued interest (I) which you would have earned if the savings were not withdrawn from your CPF account.</li></ul><p>If you are 55 years old and above:</p><ul><li>You will also need to refund the pledged amount on top of the P and I if you had pledged to refund an amount withdrawn from your Retirement Account (RA) savings in cash;</li> <li>The amount refunded to your CPF account will be used to meet your retirement savings up to the Full Retirement Sum (FRS) in your RA. Thereafter, any balance will be paid to you in cash within 1 week from the time the refunds are credited to your CPF account;</li><li>You can also choose to retain the balance in your CPF account by writing to us at least 2 weeks before the completion of the sale of your property. Do note that the withdrawal rules for members aged 55 and above will apply subsequently should you want to withdraw these savings;</li><li>You can make a request to only refund up to your FRS if you are unable to wait for the pay-out by writing to us at least 2 weeks before the completion of the sale of your property.</li></ul>Private Properties Scheme16201620
DecideShould I use my CPF to buy private residential properties?<p>You may use your CPF Ordinary Account (OA) savings to buy your property if you do not have enough cash. However, you should not use all your OA savings to pay for your private property. CPF is meant for your retirement needs. Hence, the more you use for your property, the less you may have for your retirement.</p><p>Do keep in mind:</p><ul><li style="margin-bottom:8px;">the other items you are servicing with your OA savings, such as your children’s local tertiary education and insurance premiums; and </li><li style="margin-bottom:8px;">the reduced CPF contribution rates as you age.</li></ul>Private Properties Scheme16171617
DecideHow can I determine a suitable loan amount, repayment period and repayment amount that is within my financial means?You can try <a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/FirstHome/UserParticulars" target="_blank">Our First Home Calculator</a> which provides an estimate of an affordable home price, taking into consideration your gross household income and expenses, as well as the repayment amount and repayment period. Private Properties Scheme16211621
ApplyHow do I apply to use my CPF to buy my private property?<ol><li style="text-align:left;margin-top:5pt;margin-bottom:8pt;margin-left:-16.45pt;">You will have to authorise your lawyer (by signing the <a href="/Assets/Members/Documents/FORM_HSD_LAD.pdf" target="_blank">Letter of Authorisation, Declaration, Consent & Agreement</a>) to submit an application form to use your CPF savings to buy the property.</li><li style="text-align:left;margin-top:5pt;margin-bottom:8pt;margin-left:-16.45pt;">You will have to instruct your lawyer to work with CPF Board’s lawyer to complete the necessary legal documentation. </li><li style="margin-left:-16.45pt;">Your CPF savings will be released to buy the property after: <ul><li>CPF Board’s lawyer confirms that all legal documentation is in order; and</li><li>you have paid the required cash downpayment of at least 5% of the Valuation Limit; and</li><li>you have paid any balance purchase price after taking into consideration the CPF lump sum and the housing loan amount.</li></ul></li></ol>Private Properties Scheme16221622
ApplyHow can I change my monthly repayment arrangement?<ol><li style="margin-bottom:5pt;">Login to <i>my cpf</i> with your <a href="https://www.cpf.gov.sg/eSvc/Web/PortalServices/MemberPortalServices">SingPass</a>. </li><li style="margin-bottom:5pt;">Submit an online application via My Requests - Property. </li></ol><p>Your application will be processed by the next working day.</p>Private Properties Scheme16231623
ApplyHow can I make a partial or full capital repayment of my property? <h3> <strong>If you are using CPF</strong></h3><p>First, you will have to seek approval from the bank which provided your loan. Then, you need to check that you have enough Ordinary Account savings and the maximum amount of CPF savings that you can use for your property.<br></p><ol><li style="margin-bottom:5pt;">Login to <em>my cpf</em> with your <a href="https://www.cpf.gov.sg/eSvc/Web/PortalServices/MemberPortalServices">SingPass</a>. </li><li style="margin-bottom:5pt;">Submit an online application via My Requests - Property.</li></ol><p> </p><p>Lump sum payment (Partial repayment): Your application will be processed within 3 working days. <br> Full repayment: Your application will be processed within 5 working days. </p><p> </p><h3> <span style="color:#444444;"> <strong>If you are using cash</strong></span></h3><p>Please check with your financier on the procedures.</p>Private Properties Scheme16251625

 

 

 

 

CPF Housing Withdrawal Limits CalculatorCPF Housing Withdrawal Limits Calculator<a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/CpfHousingWithdrawalLimits/CpfHousingWithdrawalLimits" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icgen.gif">CPF Housing Withdrawal Limits Calculator</a>
CPF Housing Usage CalculatorCPF Housing Usage Calculator<a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/CpfHousingUsage/Input1" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icgen.gif">CPF Housing Usage Calculator</a>
Our First Home Calculator Our First Home Calculator <a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/FirstHome/UserParticulars" target="_blank"><img alt="" src="/_layouts/15/IMAGES/ichtm.gif">step1.asp</a>

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pay Housing Loan and/or Commence/Revise/Cease Monthly Instalment<a href="/Assets/members/Documents/FORM_PPSFORM4B.pdf" target="_blank" title="Pay Housing Loan and/or Commence/Revise/Cease Monthly Instalment"><img alt="" src="/_layouts/15/IMAGES/icpdf.png">Pay Housing Loan and/or Commence/Revise/Cease Monthly Instalment</a><a href="https://www.cpf.gov.sg/eSvc/Web/Services/MyRequest/MyRequestLanding " title="Application to Use CPF savings to Repay Housing Loan for Private Property"><img alt="" src="/_layouts/15/IMAGES/ichtm.gif">Application to Use CPF savings to Repay Housing Loan for Private Property</a><p>PPS FORM 4B <br></p>This form allows you to use your CPF savings for partial/full repayment of the housing loan or revise/cease your monthly CPF deduction for your private property. The e-Service may take you 5 minutes to complete.00PDF, 0.7MB
Make Cash Refund of CPF Savings Used for Property<a href="/Assets/members/Documents/FORM_HSDVR.pdf" target="_blank" title="Make Cash Refund of CPF Savings Used for Property"><img alt="" src="/_layouts/15/IMAGES/icpdf.png">Make Cash Refund of CPF Savings Used for Property</a><p>​FORM HSD/VR<br></p>This form allows you to make a cash refund of your CPF savings used for your property.00PDF, 0.6MB
Authorise Use of CPF for Property (Letter of Authorisation, Declaration, Consent & Agreement)<a href="/Assets/members/Documents/FORM_HSD_LAD.pdf" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icpdf.png">FORM_HSD_LAD.pdf</a><p>HSD-LAD</p><p>This form allows you to authorise your lawyer to submit the application to use your CPF savings for your property via our online Housing Business Partners Portal.</p> 00PDF, 1.4MB

 

 

Private Properties SchemeHousing

 

 

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