WITHDRAWAL TO BUY A HOUSE THROUGH EPF ACCOUNT II PURPOSE

 

This withdrawal allows members to withdraw Account 2 savings to finance the purchase of a home.

Withdrawals to purchase a second home are allowed after the first home is sold or there is a disposal of ownership. Disposal of ownership means 'loss of ownership of the first house owned through a previous EPF withdrawal' due to the house being auctioned, surrender of property by court order, transfer of ownership on the basis of love, house destroyed by natural disaster or fire, abandoned house project or cancellation home purchase.

 

ELIGIBILITY TO APPLY

Malaysian; OR
Malaysian citizens who have made withdrawals under the Leaving the Country Withdrawal before 1 August 1995 and then opted to re -contribute to the EPF; OR
Not a Malaysian citizen who;
Became a member before August 1, 1998; OR
Obtaining Permanent Resident (PR) status
The member has not reached the age of 55 on the date the application is received by the EPF; and

Members have a minimum deposit of RM500.00 in Account 2.

 

Eligible Members to Apply If:-
1. Buying a residential house (bungalow / terrace / semi -detached / apartment / condominium / ‘studio apartment’ / ‘service apartment’ / ‘Townhouse’ / SOHO) or shop house with residential units.

2. Home purchase financing through;
Housing loans from any of the following institutions:-
Financial institutions licensed under the Banking And Financial Institutions Act 1989 (BAFIA)
Central / State Government or other government financial agencies
Expert employer
Licensed cooperative / co -operative society (approved by the Malaysian Cooperative Commission).
Licensed Insurance Company approved by Bank Negara Malaysia.
Lenders authorized by the EPF; OR Cash.

3. The member has signed a Sale and Purchase Agreement not exceeding three (3) years on the date the application is received by the EPF.

4. The Member has never made a Housing Withdrawal; OR The Member has made a withdrawal to buy the first home and has sold it or there is a disposal of ownership and then the purchase of a second home. Proof of sale / disposal of first home ownership must be submitted.

5. Members want to buy a house that has been acquired through hire purchase from a party authorized by the EPF.

6. Members purchase land and build a house on it simultaneously in a package (the date of the land purchase agreement with the date of the house building agreement
shall be within 6 months).

Members Are Not Eligible To Apply If :-

# Buy land or house site lot only
# Renovating, repairing or making additional work to an existing home
# Property ownership is not through a sale and purchase transaction
# Take a loan in the form of an overdraft 
# Buying a third home 
# Buying a home abroad

Sumber :https://www.kwsp.gov.my/home