Will Hdb wipe out my entire CPF OA after purchasing a house? - Seedly
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Anonymous

Asked on 03 Dec 2019

Will Hdb wipe out my entire CPF OA after purchasing a house?

How much of my cpf will be left once i purchase a house? are there any articles i can look at that will help me in this?

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Jonathan Chia Guangrong
Jonathan Chia Guangrong, Fund Manager at JCG Fund
Level 8. Wizard
Answered on 03 Dec 2019

You can opt for this if you want to with the new ruling. Mine was emptied when I got my keys years ago. The 20k you can choose to retain in your oa account is meant for emergencies in case you get retrenched and unable to pay the mortgage.

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With the new ruling, members can retain up to $20k in their CPF Ordinary Account when buying a hosue using HDB loan.

Here are the details: https://www.straitstimes.com/singapore/housing/flat-buyers-using-cpf-can-retain-up-to-20000-in-oa-when-applying-for-hdb-loans

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