If I finished paying for my house using CPF in 10 years, but only sell it 15 years later. What is the accrued interest I have to pay? - Seedly

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Asked by Anonymous

Asked on 31 May 2019

If I finished paying for my house using CPF in 10 years, but only sell it 15 years later. What is the accrued interest I have to pay?

I bought a BTO and do think i have the ability to finish paying off my HDB loan in 5 years using my CPF. But should i do it? I have already opted for a 10 year loan period maximum and would not be able to reverse it to 25 years. I am only concerned that the longer i stay in this house (>10 years and i would have finished paying for it using cpf), i would incur huge amount of accrued interest that I "owe" myself, instead of cpf generating it for me.

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Grace Cong
Grace Cong
Level 4. Prodigy
Answered on 03 Jun 2019

See Gabriel's answer for checking your accrued interest.

Refer to CPF website to see how to repay your OA and stop accrued interest from getting bigger. You would need to repay the accrued interest first then make partial or full payment of your principal.

https://www.hdb.gov.sg/cs/infoweb/residential/servicing-your-hdb-loan/mortgage-loan/payment

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Gabriel Tham
Gabriel Tham, Kenichi Tag Team Member at Tag Team
Level 8. Wizard
Answered on 01 Jun 2019

You can login to cpf or use their cpf mobile app to check your current accrued interest. It snowballs very fast because of the 2.5% interest rate.

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