Anonymous

18 Apr 2019

∙

How can I maximise my CPF savings whilst planning a second property (EC) upgrade in 2 years time? What are the factors to consider?

Me and my wife are currently in our early to mid 30s.

Should we consider transferring the OA to SA, or top up the SA with cash? Or should we focus on paying off our current housing loan instead?
What happens when we have reached the minimum sum? Will the additional cash from our monthly salaries earn the 4% interest?
We intend to upgrade to an EC in 2 years time. Will we be considered a second time buyer under a bank loan? If so, what is the LTV? Can we claim back the ABSD?

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Jeff Yeo

19 Oct 2018

amateur Social contributor at School of social sharing

loans

try to draw down the bank loan to avoid double “penalty“ from both the bank and CPF

CPF

topping up the SA from OA will give you more interest and you can use it to hedge against the bank loan
Topping up voluntarily give you tax rebates - this is subjective and depends if you believe in the CPF system Long term

Too many questions in one question >_< ending here

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Teo See Hwa

09 Oct 2018

MArketing Associate at Propnex

MOP of 5 years + 30 months from date of EC disposal.

https://www.hdb.gov.sg/cs/infoweb/residential/b...

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Nicholas Woon

25 Sep 2018

Associate Division Director at ERA Realty Network Pte Ltd

Hi,

If you intend to upgrade to EC, you would be required to sell your HDB within 6 months of ke...

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