08 Nov 2020
Property was paid with CPF OA using 180K on property and has so far accrued interest of 25K. If i make a partial housing refund of 50K cash, will the 50K be used to offset the property first or accrued interest?
Not 100% sure how CPF will update your statement. But there should be no difference to the overall status.
In your example, you would "owe" yourself 205k (180+25). So if you repay the 50K, you would now "owe" yourself 155K (205-50).
While it's prudent to do a housing refund with spare money you have no other use, also make sure you already have enough backup.
You may of course consider good investment options that return 3.0% in long term.
Write your thoughts