facebookHello All, do you know which bank will the Prudential CPF investment be returned back to? I heard that I need to inform the bank to return the money back to my CPF OA so I can use it for my BTO? - Seedly
Seedly logo
Seedly logo
ย 

Advertisement

Mango Lin

Mango Lin

Level 2

30 Jul 2019

Hello All, do you know which bank will the Prudential CPF investment be returned back to? I heard that I need to inform the bank to return the money back to my CPF OA so I can use it for my BTO?

Hello All, do you know which bank will the Prudential CPF investment be returned back to? I heard that I need to inform the bank to return the money back to my CPF OA so I can use it for my BTO?

5

    Discussion (5)

    What are your thoughts?

    Elijah Lee

    Elijah Lee

    30 Jul 2019

    Level 19ยทIndependent Financial Advisor at Phillip Securities (Jurong East)

    Funds will be returned to the bank that you opened your CPF investment account with. It will be a local bank. The bank will hold it for a period of time (3-4 weeks) before transferring it to CPF. Hence if you need the liquidated funds to be moved to CPF fast, you need to give specific instruction to them to move it.

    Reply

    Save

    Share

      View 3 replies

      Vincent Tan Wen Bin

      Vincent Tan Wen Bin

      17 Jun 2019

      Level 9ยทAssistant Vice President at Thinkers Alliance

      Assuming you purchase this Prudential investment using your CPFIA,

      Once the investment is redeemded, it will be refunded back to your CPFIA.
      You will need to go to the bank to request for a refund from your CPFIA back to your CPF OA account.

      Reply

      Save

      Share

        Write your thoughts