Doing so will avoid any delay in commencing the use of your CPF savings for your monthly housing instalments.
You can apply for HPS exemption after you have obtained legal ownership of the flat and the housing loan for the property has been disbursed.
If you have not previously used your CPF savings for your HDB flat at the time of purchase or for your monthly housing instalment, please fill up this application form to start using your CPF savings for your HDB flat.
Please approach the insurer(s) of your private insurance policy(s) to submit your application to be exempted from HPS. We will only process applications submitted through insurers.
You will need to provide your insurer(s) with supporting documents showing your current* housing loan details, i.e. loan commencement date, balance loan amount, balance term of loan & the mortgage rate. These can generally be found on your housing loan statement.
*Within 6 months from the date the application for exemption is submitted.
If you are covered under HPS and we receive your HPS exemption request from your insurer within one month of the issuance of your HPS cover, we will refund the full premium into your Ordinary Account. Otherwise, you will receive a pro-rated premium refund upon the termination of your HPS cover.