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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;#

 

 

UnderstandWhat is Private Properties Scheme (PPS)? <p>Under PPS, you can use your CPF Ordinary Account (OA) savings to buy or build private residential property for occupation or investment.<br></p> <img src="/Assets/members/PublishingImages/4WaysToUseCPFForPrivateProperty.png" alt="4 ways to use CPF for private property" style="width:100%;height:auto;" />Private Properties Scheme16151615
UnderstandAm I eligible to use my CPF savings under PPS? <p>All CPF members who are eligible to buy a private property are eligible to use their CPF savings under PPS.</p><p>You are not eligible if:</p><ul><li style="margin-bottom:5px;">you are buying a private property with a remaining lease of less than 30 years; </li><li style="margin-bottom:5px;">you are buying a private property with a remaining lease of less than 60 but at least 30 years and your age plus the remaining lease of the private property is less than 80 years;<br></li></ul><p>You can check if you are eligible to buy a private property on 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>.</p><p>Read the <a href="/Assets/members/Documents/Housing_RPS_TermsandCondition.pdf" target="_blank"> Terms and Conditions</a> to use your CPF to buy a private property.</p>Private Properties Scheme16161616
EvaluateHow much CPF savings can I use?<p>To ensure you have enough CPF savings for your retirement years, there are housing limits on the amount of CPF savings you can use to buy a private property.</p><p> <strong>Valuation Limit (VL)</strong> is the purchase price or the value of the private property at the time of purchase, whichever is lower.</p><p> <strong>Withdrawal Limit (WL)</strong> is 120% of the VL. This is the maximum amount of CPF you can use for the private property.</p><p>To continue using your CPF beyond VL, up to WL, you need to meet the following requirements:</p><ul style="margin:0px;padding:0px;"><li style="padding:0px;text-align:justify;margin-bottom:5pt;margin-left:20px;">Below 55 years old: To set aside the current <a href="/Members/Schemes/schemes/retirement/retirement-sum-scheme#Item1591" target="_blank">Basic Retirement Sum (BRS)</a> in your Special Account (SA), including the amount withdrawn for investment, and Ordinary Account (OA).</li><li style="padding:0px;text-align:justify;margin-bottom:5pt;margin-left:20px;">55 years old and above: To meet the <a href="/Members/Schemes/schemes/retirement/retirement-sum-scheme#Item1591" target="_blank">BRS</a> in your Retirement Account (RA), SA (including the amount withdrawn for investment) and OA.</li></ul><p>The amount of CPF you can use is lower if you are buying a private property with a remaining lease of less than 60 years but at least 30 years. Read more on <a href="/Members/FAQ/schemes/housing/private-properties-scheme#faq16464" target="_blank"> buying a private property with a remaining lease of less than 60 years</a>.</p><p>Try the <a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/PropertyWithLessThanSixtyYearsLease/Input" target="_blank"> Property with Less Than 60 Years Lease Calculator</a> to find out the amount you can use for such properties.​</p>Private Properties Scheme16181618
EvaluateCan I use my CPF to buy more than one property?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/public-housing-scheme#faq16409" target="_blank">Multiple Property Rule</a>. Private Properties Scheme16191619
EvaluateIf I had bought two private properties, which property will my CPF savings be used to service the monthly instalment first?If you are using CPF savings to service the housing loan for two private properties, we will deduct from your OA 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 to your CPF:</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 taken out from your CPF account.</li></ul> <br> <p>If you are 55 years old and above, and have pledged your property to withdraw your Retirement Account (RA) savings in cash, you will need to refund the pledged amount on top of the P and I. The amount refunded to your CPF account will be used to meet your Full Retirement Sum in your RA. After this, any balance housing refunds will be paid to you in cash.</p>Private Properties Scheme16201620
DecideShould I use my CPF to buy private residential properties?<p>Using your CPF Ordinary Account (OA) savings to finance your private property is an alternative to using cash. However, you should not use all your CPF OA savings to finance your private property. 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:8px;">the other items you are servicing with your CPF 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?<p>1. You will have to authorise your lawyer to submit </p><ul><ul><li type="disc" style="text-align:left;margin-top:5pt;margin-bottom:8pt;margin-left:-16.45pt;">an application form to use your CPF savings to buy the private property; and </li><li type="disc" style="margin-left:-16.45pt;">a valuation report prepared by a licensed valuer</li></ul></ul><p style="margin-bottom:5pt;">2. You will receive a Letter of Approval. </p><p>3. You will have to instruct your lawyer to work with CPF Board’s lawyer to complete the legal documentation.</p><p>Your CPF savings will be released to buy the private property after you have: </p><ul><ol><li style="margin-bottom:5px;">submitted all legal documentation; </li><li style="margin-bottom:5px;">paid the required cash downpayment of at least 5% of the valuation limit; and </li><li style="margin-bottom:5px;">paid any balance purchase price after taking into consideration the CPF lumpsum and the housing loan amount.</li></ol></ul>Private Properties Scheme16221622
ApplyHow can I change my monthly repayment arrangement?<b> </b> <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. </li></ol><p>Your application will be processed by the next working day.</p><p> <strong>Mail</strong></p><ol><li style="margin-bottom:5pt;">Download and complete <a href="/Assets/members/Documents/FORM_PPSFORM4B.pdf" target="_blank">Application to Use CPF savings to Repay Housing Loan for Private Property (PPS Form 4B)</a> (PDF, 0.2MB). </li><li style="margin-bottom:5pt;">Mail it to:<br><br>Central Provident Fund Board<br>Private Properties<br>Robinson Rd<br>P.O. Box 3060 <br>Singapore 905060</li></ol><p>Your application will be processed within 7 working days.<br></p>Private Properties Scheme16231623
ApplyHow do I make a partial repayment of my housing loan?<h3> <strong>If you are using CPF</strong></h3><p>First, you will have to seek approval from your financier and ensure you have sufficient CPF Ordinary Account savings, subject to the housing limits, for the repayment.<br></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. </li></ol><p>Your application will be processed within 3 working days.</p><p> <strong>Mail</strong></p><ol><li style="margin-bottom:5pt;">Download and complete <a href="/Assets/members/Documents/FORM_PPSFORM4B.pdf" target="_blank">Application to Use CPF savings to Repay Housing Loan for Private Property (PPS Form 4B)</a> (PDF, 0.2MB). </li><li style="margin-bottom:5pt;">Mail it to:<br><br>Central Provident Fund Board<br>Private Properties<br>Robinson Rd<br>P.O. Box 3060<br>Singapore 905060<br></li></ol> <p>Your application will be processed within 7 working days.</p><h3> <span style="color:#444444;"> <strong>If you are using cash</strong></span></h3><p> <br>Please check with your financier on the procedures.</p>Private Properties Scheme16251625
ApplyHow do I make a full redemption of my housing loan?<h3> <span style="color:#444444;"><strong>If you are using CPF</strong></span></h3><ol><li style="margin-bottom:8px;">Seek approval from your financier and ensure you have sufficient CPF Ordinary Account savings for the repayment, subject to the housing limits. </li><li style="margin-bottom:8px;">Engage a lawyer to discharge the mortgage on your private property. </li><li style="margin-bottom:8px;">Instruct your lawyer to liaise with the Board on the use of your CPF for the full redemption and cessation of the monthly deduction from your CPF account to service the housing loan. <br> <br>Alternatively, you may submit a request online yourself.<br><br><strong>Online using <em> <strong>my cpf</strong></em></strong><br><br> <ol><li>Login with your SingPass. </li><li>Submit an online application via My Requests - Property.</li></ol></li></ol>                Your application will be processed within 5 working days. <p> </p><h3> <span style="color:#444444;"><strong>If you are using cash</strong></span></h3><p> <span class="SubTopicHeader"></span>Please check with your financier on the procedures.</p>Private Properties Scheme16241624

 

 

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>
Property with Less Than 60 Years Lease Calculator Property with Less Than 60 Years Lease Calculator <a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/PropertyWithLessThanSixtyYearsLease/Input" target="_blank"><img alt="" src="/_layouts/15/IMAGES/ichtm.gif">MLP_Calc.asp</a>

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Application to Use CPF savings to Repay Housing Loan for Private Property<a href="/Assets/members/Documents/FORM_PPSFORM4B.pdf" target="_blank" title="Application to Use CPF savings to Repay Housing Loan for Private Property"><img alt="" src="/_layouts/15/IMAGES/icpdf.png">Application to Use CPF savings to Repay Housing Loan for Private Property</a><a href="https://www.cpf.gov.sg/eSvc/Web/PortalServices/MemberPortalServices" 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 (PDF, 0.2MB)<br></p>00
Application to Make Cash Refund of CPF Savings Used for Property<a href="/Assets/members/Documents/FORM_HSDVR.pdf" target="_blank" title="Application to Make Cash Refund of CPF Savings Used for Property"><img alt="" src="/_layouts/15/IMAGES/icpdf.png">Application to Make Cash Refund of CPF Savings Used for Property</a><p>​FORM HSD/VR (PDF, 0.4MB)<br></p>00

 

 

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