Flat buyers can now keep S$20,000 in CPF when taking HDB loan!
SINGAPORE: Flat buyers can now choose to keep up to S$20,000 each in their Central Provident Fund (CPF) when taking a loan from the Housing and Development Board (HDB), the housing board said on Tuesday (Aug 28).
Previously, buyers would have to fully utilise the balances in their CPF Ordinary Account (OA) to pay for their flat before taking up an HDB loan.
The move will provide flat buyers with "greater flexibility in using their CPF funds", said HDB in the press release.
It added that the funds can be used for buyers' monthly mortgage instalments in times of need and for retirement purposes.
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