| Understand | What is Public Housing Scheme (PHS)? | <p>Under PHS, you can use your CPF Ordinary Account (OA) savings to buy an HDB flat (new or resale).</p><p>It can be used to:</p><ul><li style="margin-bottom:5px;">finance all or part of the purchase price; </li><li style="margin-bottom:5px;">service monthly housing loan instalments taken to buy the HDB flat; and </li><li style="margin-bottom:5px;">pay the stamp duty, legal fees and other related cost such as flat upgrading cost.</li></ul> | Public Housing Scheme | 1626 | 1626 |
| Understand | Am I eligible to use CPF savings under PHS? | <p>All CPF members who are eligible to buy a new or resale HDB flat are eligible to use their CPF savings under PHS.</p><p>You are not eligible if you are:</p><ul><li style="margin-bottom:5px;">buying an HDB flat with a remaining lease of less than 30 years; or </li><li style="margin-bottom:5px;">buying an HDB flat with a remaining lease of less than 60 but at least 30 years and your age plus the remaining lease of the HDB flat is less than 80 years.</li></ul><p>You can check your eligibility to buy an HDB flat at the
<a href="http://services2.hdb.gov.sg/webapp/BP13EligCheck/BP13SHome?strSystem=CHECK" target="_blank">HDB website</a>.</p><p>Read the
<a href="/Assets/members/Documents/Housing_PHS_TermsandConditionHDBLoan.pdf" target="_blank">Terms and Conditions</a> (PDF, 0.4MB) to use your CPF to buy an HDB flat with HDB concessionary loan.</p><p>Read the
<a href="/Assets/members/Documents/Housing_PHS_TermsandConditionBankLoan.pdf" target="_blank">Terms and Conditions</a> (PDF, 0.7MB) to use your CPF to buy an HDB flat with a bank loan*.</p><p>*includes housing loan taken from the bank or financial institution.</p> | Public Housing Scheme | 1627 | 1627 |
| Evaluate | How much CPF savings can I use? | <p>To help you set aside CPF savings for your retirement years, there are housing limits on the amount of CPF savings you can use. It depends on:</p><ul><li>whether it is a new or resale HDB flat; and <br></li><li>whether you are financing your HDB flat via an HDB concessionary loan or bank loan.</li></ul><p>You can refer to the infographic below for more details if you are buying a HDB flat with a remaining lease of at least 60 years.</p>
<img class="img-responsive" alt="CPF withdrawal housing limits" src="/Assets/members/PublishingImages/CPFWithdrawalHousingLimits.png" style="width:97%;height:auto;" />
<p>
<br>The amount of CPF you can use is lower if you are buying an HDB flat with a remaining lease of less than 60 years but at least 30 years. Read more on
<a href="/Members/FAQ/schemes/housing/housing-scheme#faq2185500">buying an HDB flat with a remaining lease of less than 60 years</a>.<br></p><p>Try the
<a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/PropertyWithLessThanSixtyYearsLease/Input">Property with Less Than 60 Years Lease Calculator</a> to find out the amount you can use for such flats.</p> | Public Housing Scheme | 1628 | 1628 |
| Evaluate | Can I use my CPF savings to buy more than one property? | <p>Yes, you can use your CPF to buy more than one property. However, there are some restrictions in place under the
<a href="/Members/FAQ/schemes/housing/housing-scheme#faq2185521">Multiple Property Rule</a>. </p> | Public Housing Scheme | 1629 | 1629 |
| Evaluate | What will happen to my sale proceeds upon the sale of my HDB flat? | <p>The sale proceeds will be used to pay off the outstanding housing loan taken to buy the HDB flat and the required CPF refund.</p>
| Public Housing Scheme | 1630 | 1630 |
| Evaluate | How much do I need to refund to my CPF upon the sale of my HDB flat? | <p>If you have used your CPF savings to finance your HDB flat, 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 HDB flat; 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 your property to withdraw 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> | Public Housing Scheme | 1631 | 1631 |
| Decide | Should I use my CPF to buy an HDB flat? | <p>Using your CPF Ordinary Account (OA) savings to finance your HDB flat is an alternative to using cash. However, you should not use all your CPF OA savings to finance your HDB flat. CPF is essentially for your retirement. The more you use for property, the less you may have for retirement.</p><p>Do keep in mind:</p><ul><li style="margin-bottom:5px;">the other items you are servicing with your CPF OA savings, such as your children’s local tertiary education and insurance premiums; </li><li style="margin-bottom:5px;">the reduced CPF contribution rates as you age; and </li><li style="margin-bottom:5px;">you have to be insured under the
<a href="/Members/Schemes/schemes/housing/home-protection-scheme">Home Protection Scheme</a> or a mortgage insurance when you use CPF for monthly instalment of your housing loan.</li></ul> | Public Housing Scheme | 1632 | 1632 |
| Decide | How do I choose between an HDB concessionary loan and a bank loan? | <p>You should consider the following factors when deciding between an HDB concessionary loan and a bank loan:</p>
<img alt="HDB loan vs bank loan" src="/Assets/members/PublishingImages/HDBLoanVsBankLoan.png" style="width:100%;height:auto;" />
<p>You can check with <a href="http://www.hdb.gov.sg/cs/infoweb/residential/financing-a-flat-purchase/housing-loan-from-hdb/eligibility-conditions" target="_blank"> HDB on the eligibility criteria</a> to obtain a HDB concessionary loan.<br></p> | Public Housing Scheme | 1633 | 1633 |
| Decide | How 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 with its repayment period. | Public Housing Scheme | 1634 | 1634 |
| Apply | How do I apply to use my CPF to repay my HDB concessionary loan? | <ol><li style="margin-bottom:3pt;">Complete CPF withdrawal form (HPS/9) at HDB's office. </li><li style="margin-bottom:3pt;">HDB will forward the completed form to CPF Board.</li></ol><p>Your application will be processed within five working days upon receipt.</p><p>You have to be insured under the
<a href="/Members/Schemes/schemes/housing/home-protection-scheme">Home Protection Scheme</a> if you are using your CPF to repay your HDB concessionary loan.</p><p>Read the
<a href="/Assets/members/Documents/Housing_PHS_TermsandConditionHDBLoan.pdf" target="_blank">Terms and Conditions</a> to use your CPF to buy an HDB flat with HDB concessionary loan.</p> | Public Housing Scheme | 1637 | 1637 |
| Apply | How can I make changes to my monthly repayment arrangement? | <ol><li style="margin-bottom:3pt;">Bring along your identity card to any <a href="https://services2.hdb.gov.sg/webapp/BP21NonPortalWeb/jsp/BOAddr/BP21PContactEnquiry.jsp" target="_blank"><span style="text-decoration:underline;"><font color="#0066cc">HDB Branch Offices</font></span></a>. </li><li style="margin-bottom:3pt;">Complete the CPF withdrawal form (HPS/9). </li><li style="margin-bottom:3pt;">HDB will forward the completed form to CPF Board.</li></ol><p>Your application will be processed within five working days upon receipt.</p> | Public Housing Scheme | 1635 | 1635 |
| Apply | How can I make a partial or full capital repayment of my HDB concessionary loan? | <p>First, you need to ensure that you have sufficient CPF Ordinary Account (OA) savings, subject to the CPF housing limits, for the capital repayment or full redemption of your HDB loan. Read more on HDB website on
<a href="http://www.hdb.gov.sg/cs/infoweb/residential/servicing-your-hdb-loan/mortgage-loan/payment" target="_blank">partial capital repayment</a> or
<a href="http://www.hdb.gov.sg/cs/infoweb/residential/servicing-your-hdb-loan/mortgage-loan/payment" target="_blank">full capital repayment</a>. </p> | Public Housing Scheme | 1638 | 1638 |
| Apply | How do I apply to use my CPF to buy an HDB flat financed with my bank loan? | <ol><li style="margin-bottom:5pt;">Download and complete the
<a href="/Assets/members/Documents/FORM_HBL1.pdf" target="_blank">Application form to Use CPF Savings to Purchase HDB Flat Financed with Bank Loan (HBL/1)</a> (PDF, 2.1MB) with the help of your lawyer. </li><li style="margin-bottom:5pt;">Mail it to CPF Board at least 15 working days prior to the payment due date.<br><br>Central Provident Fund Board<br>Housing Schemes Department<br>Robinson Road<br>P.O. Box 3060<br>Singapore 905060<br>(Attn: Public Housing Section - Bank Loan)<br></li></ol><p>Read the
<a href="/Assets/members/Documents/Housing_PHS_TermsandConditionBankLoan.pdf" target="_blank">Terms and Conditions to use your CPF to buy an HDB flat with bank loan</a> (PDF, 0.7MB).</p>
<p>Your CPF savings will be released to buy the HDB flat after you have paid:</p><ul><li style="margin-bottom:5px;"><p>the required cash downpayment of at least 5% of the valuation limit; and </p></li><li style="margin-bottom:5px;"><p>any balance of the purchase price after taking into consideration the CPF lumpsum and the housing loan amount.</p></li></ul> | Public Housing Scheme | 1641 | 1641 |
| Apply | How do I apply to use my CPF to repay my bank loan? | <p>
<strong>Online using
<em>
<strong>my cpf</strong></em></strong></p><ol><li style="margin-bottom:5pt;">Login 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. Your application will be processed within 5 working days.</li></ol><p>
<strong>Mail</strong></p><ol><li style="margin-bottom:5pt;">Download and complete the
<a href="/Assets/members/Documents/FORM_HBL3.pdf" target="_blank">Application form to Commence Monthly CPF Deduction for Housing Loan of HDB Flat Financed with Bank Loan (HBL/3)</a> (PDF, 1.7MB) with the help of your financier. </li><li style="margin-bottom:5pt;">Mail it to CPF Board at least 7 working days before the next monthly instalment deduction date which is between the 10<sup>th</sup> and 13<sup>th</sup> of each month.<br><br>Central Provident Fund Board<br>Housing Schemes Department<br>Robinson Road<br>P.O. Box 3060<br>Singapore 905060<br>(Attn: Public Housing Section - Bank Loan)<br></li></ol>
<p>You have to be insured under the
<a href="/Members/Schemes/schemes/housing/home-protection-scheme">Home Protection Scheme</a> if you are using your CPF to repay your bank loan.<br></p> | Public Housing Scheme | 1639 | 1639 |
| Apply | How can I change my monthly repayment arrangement? | <p>First, you need to inform your bank of the change you wish to make.</p><p>
<strong>Online using
<em>
<strong>my cpf</strong></em></strong></p><ol><li style="margin-bottom:5pt;">Login 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. Your application will be processed by the next working day.</li></ol><p>
<strong>Mail</strong></p><ol><li style="margin-bottom:5pt;">If you are revising the monthly repayment amount using CPF, download and complete the
<a href="/Assets/members/Documents/FORM_HBL4.pdf" target="_blank">Application form to Use CPF Savings for Revision of Monthly CPF Deduction of HDB Flat Financed with Bank Loan (HBL/4)</a> (PDF, 1.1MB) with the help of your financier. </li><li style="margin-bottom:5pt;">Mail it to CPF Board at least 7 working days before the next monthly instalment deduction date which is between the 10<sup>th</sup> and 13<sup>th</sup> of each month.<br><br>Central Provident Fund Board<br>Housing Schemes Department<br>Robinson Road<br>P.O. Box 3060<br>Singapore 905060<br>(Attn: Public Housing Section - Bank Loan)<br></li></ol> | Public Housing Scheme | 1640 | 1640 |
| Apply | How can I make a partial or full capital repayment of my bank loan? | <p>First, seek approval from your financier of the payment you wish to make.</p><h3>
<strong>If you are using CPF</strong></h3><p>
<span class="SubTopicHeader"></span><strong>Online using
<em>
<strong>my cpf</strong></em></strong></p><ol><li style="margin-bottom:5pt;">Login 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.
<br>
<br>For partial capital repayment: Your application will be processed within 3 working days.<br><br>For full capital repayment: Your application will be processed within 5 working days.</li></ol><p>
<strong>Mail</strong></p><ol><li style="margin-bottom:5pt;">Ensure you have sufficient CPF OA savings, subject to the housing limits, for the capital repayment. </li><li style="margin-bottom:5pt;">Download and complete the
<a href="/Assets/members/Documents/FORM_HBL4.pdf" target="_blank">Application form to Use CPF Savings for Partial/Full Repayment of Housing Loan (HBL/4)</a> (PDF, 1.1MB) with the help of your financier. </li><li style="margin-bottom:5pt;">Mail it to CPF Board at least 7 working days before the deduction date.<br><br>Central Provident Fund Board<br>Housing Schemes Department<br>Robinson Road<br>P.O. Box 3060<br>Singapore 905060<br>(Attn: Public Housing Section - Bank Loan)<br></li></ol>
<h3>
<strong>If you are using cash</strong></h3><p>
<span class="SubTopicHeader"></span>Please check with your financier on the procedures.<br></p> | Public Housing Scheme | 1642 | 1642 |