If I did not apply to use my CPF savings when I bought my property that is financed with a bank loan, can I now use my CPF savings for monthly instalments?
Yes, you can use your CPF savings for the monthly instalments of your property. 
 
If you own an HDB flat with bank loan:
  • Submit an online application with your Singpass
  • Include your financier’s details and your outstanding housing loan amount in the application
 If you own a private property with bank loan:
  • Submit your request through your lawyer
 A conveyancing lawyer is required when using your CPF savings for the first time. For more information, please visit this FAQ.
 
Tips for sustainable housing payments:
 
While your CPF savings can help with housing payments, remember that these savings are primarily for your future retirement needs. For a sustainable approach, consider the following:
 
  • ensure your monthly instalment does not exceed your monthly Ordinary Account (OA) contributions
  • use a mix of cash and OA savings for housing payments
  • retain an amount in your OA equivalent to six months' worth of monthly instalments for emergencies
This approach allows you to service your housing loan during unexpected situations while ensuring your OA savings continue earning attractive interest rates.

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