Anonymous
Is it possible to purchase a BTO with full cash, and not having to tap into the OA funds?
Assuming savings is enough for downpayment of HDB loan and no grants were applied, is full cash payment possible at all without deducting from OA?
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Tan Choong Hwee
22 Apr 2021
Solutions Specialist at Providend
Of course, it is possible to pay downpayment with full cash. However, you may want to opt for mixed payment using CPF and cash for mortgage loan repayment. You can always specify a small token amount (like $1) from CPF and the remaining from bank account. This way you have the flexibility to increase your CPF payment amount in the event that you face cash flow difficulty in future.
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Yes possible!!! And WOWWWWW congrats hehe!
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Short answer, yes.
Buying a flat is the same as buying bread. Buy bread you have 3 options to pay. Cash, nets or credit card.
The same goes for buying a flat, cash, HDB loan or Bank Loan. Cash is hardly talked about as an option but yes, it can be done. How to pay I think you need to check with HDB.
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Shengshi Chiam, CFA
16 Feb 2020
Personal Finance Lead at Endowus
Interesting question!
Even though it is possible, it doesnt mean one should do it, especially since...
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Never tought this is possible, i thought for property you are only allow to use loan.
HDB loan will empty your OA while bank loan will need to pay 5% DP from OA as well.
Correct me if I'm wrong