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What happens when I sell my property previously financed with CPF savings?

21 Oct 2016 
SOURCE: CPF Board

​It is common practice for Singaporeans to use their CPF savings to finance their homes, but have you wondered what happens if you decide to sell your property?

 

What happens when I sell my property previously financed with CPF savings.png 

If you're below 55 years old

Upon the sale of your property, you will need to refund to your Ordinary Account (OA) the principal amount withdrawn to pay for it, as well as the accrued interest you would have earned if these savings were left in your OA. You can then use the refunded savings to your OA to buy your next home!

 

If you're 55 years and above

Upon the sale of your property, you will need to refund to your CPF,

  1. the principal amount withdrawn to pay for it, as well as
  2. the accrued interest you would have earned if these savings were not withdrawn.
  3. the pledged amount if you have previously pledged your property to withdraw your Retirement Account (RA) savings in cash.

 

The refunded amount will be used to top up your RA to your Full Retirement Sum. Any balance after this will be paid to you in cash. You can then use the refunded savings to your RA above the Basic Retirement Sum (BRS) to buy your next home!


Information accurate as at ​21/10/2016.

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