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Anonymous

05 Jan 2021

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If we are going to use a bank loan for HDB BTO, will they require you to offset with your OA first?

I understand that we can now keep $20K in our OA before it is wiped out by the HDB loan. If we are going to use a bank loan will they require you to offset with your OA first?

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Mortgage Master

05 Jan 2021

If you use a bank loan you do not need to offset with your OA first.

You do not need to "wipe out" your CPF OA. Infact you can even choose to use $0 from CPF OA if you wish.

However this comes with pros and cons as well.

You can either look it up at

https://blog.seedly.sg/the-complete-guide-bank-...

Or here

HDB Loan vs Bank Loan - Which is Better for You? - Mortgage Master Blog

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1M45

30 Dec 2020

I use bank loan. Never wipe out. Monthly Installment deduct from there.

Alternatively move the $$ from OA by investing, then after HDB wipe out. Transfer back?

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