Advertisement
Anonymous
I will have $20k coming back from tbills end of December... so balance will go up above $20k again.. just that for a few weeks in dec, the balance will be less than $20k..
13
Discussion (13)
Learn how to style your text
Reply
Save
No penalty
Reply
Save
I dont think there is any penalty on cpf...
Reply
Save
Kent Toh
14 Dec 2023
Consultant at Sprinklr
Simi penalty? CPF is not bank, no minimum sum required.
You wipe till $0 also can.
You just lose out on the 3.5% interest on your first $20K OA.
Your OA savings earn risk-free interest of 2.5% annually, which allows you to accumulate more funds in your OA for future retirement or housing needs. *Additional 1% is paid on the first $60,000 across all CPF accounts, which is capped at $20,000 for the OA.
Reply
Save
Javier Tan Yan Kai
13 Dec 2023
Actuarial Analyst at AIA
Lesser interest lor...
Read 5 other comments with a Seedly account
You will also enjoy exclusive benefits and get access to members only features.
Sign up or login with an email here
Write your thoughts
Related Articles
Related Posts
Related Posts
Advertisement
I think cpf will not allow the 7k to go through.. anything below 20k transaction will not go through.