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Conditions for Withdrawal to Buy a House The basic requirements for you to be eligible to apply for Withdrawal to Buy a House are that:
You are a : Malaysian citizen or a Permanent Resident; Malaysian citizen who has withdrawn your savings under Leaving The Country Withdrawal before 1 August 1995 but subsequently returned and re-contribute to EPF ; or Non-Malaysian citizen (Expatriate) who became a member of the EPF before 1 August 1998 You have not reached 55 years of age on the date the application is received by EPF You still have savings in Account II In addition, you must also meet several other conditions for your applications to be considered.
Amount Eligible to Withdraw Housing-related withdrawals are available for members for who are Malaysian citizens or holder of Permanent residence status. Expatriate members, who became a member of the EPF before 1 August 1998, are also eligible.
Also eligible are Malaysian citizens who have withdrawn their savings under the Leaving the Country Withdrawal scheme before 1 August 1995, but subsequently elected to re-contribute to EPF.
In addition, you must have remaining balance in Account II to be eligible to apply. Another pre-condition is that you have not reach 55 years of age at the time your application is received.
Specifically for withdrawals to reduce housing loans, you must have at least RM500 balance in your Account II.
For withdrawals to buy or build a house, there are other conditions that must be met before you become eligible. These conditions are related to the type of houses you are buying or building, as well as the source of financing you obtained for that purpose.
Withdrawal to Purchase a HousePURPOSE
This withdrawal allows you to utilize your savings from Account 2 to partially finance your purchase of a house individually OR jointly with your spouse or close family members namely parents or siblings. Buying of a house with another individual who has no kinship is allowed provided that the other individual is a buyer and borrower. This withdrawal allows you to buy a house from a developer or an individual or through a public auction. EPF Withdrawal to purchase a second house is allowed after the first house purchased utilizing EPF has been sold or disposal of ownership of property has taken place. Disposal of ownership refers to 'loss of ownership of the first house owned by you either due to auction, surrender of property by court order, transfer of ownership because of love and affection, destruction of house due to natural disaster, abandoned housing project or cancellation of purchase'. APPLICATION ELIGIBILITY
(i) A Malaysian Citizen; OR (ii) A Malaysian Citizen who has made Leaving The Country Withdrawal before 1 August 1995 and has opted to re-contribute to the EPF; OR (iii) A Non-Malaysian Citizen who: Has became an EPF before 1 August 1998, OR Has obtained a Permanent Resident (PR) status. You have not reached the age 55 at the time the EPF receives your application; AND You have a minimum savings balance of RM500.00 in your Account 2.
Withdrawal Eligibility The amount that you can withdraw is as follows: You may choose to decide on the amount to withdraw from your Account 2, subject to the maximum amount eligible by filling in the desired amount in the housing withdrawal Form 9C (AHL). You may have made a housing withdrawal before but have cancelled the purchase of the house and now you wish to make this withdrawal to purchase a house. In this situation, the amount withdrawn need not be returned to the EPF. The earlier withdrawn amount will be deducted from the current eligible amount subject to the balance eligible (if any).
List Of Documents Required A. MAIN DOCUMENTS 1.1 Form KWSP 9C (AHL)
1.2 Malaysian Identification Card (MyKad)/ Military Identification Card/Permanent Resident Identification Card (MyPR). OR Police Identification Card affixed with your right and left thumbprints on its copy and a letter from your employer confirming that your police number and Identification Card number refer to the same person. OR Passport if you are a Non-Malaysian citizen who has become an EPF member before August 1998.
1.3 Your Personal Savings Account Passbook / Statement OR the original copy of Personal Current Account Statement OR Individual Joint Account (for withdrawal exceeding RM100,000.00):
The bank account must be active. The bank account must be with a Panel Bank approved by the EPF. 1.4 Sale & Purchase Agreement (purchase from developer) OR Proclamation of Sale from Administrator / Court (public auction purchase) which contains the name of the member or names of all members (for joint purchase) and the date of execution does not exceed 3 years on the date the withdrawl application is received.
1.5 If a housing loan is involved, the following documents will have to be produced:
Housing Loan Approval Letter (if the loan approval is less than one (1) year from the date the withdrawal application is received); OR Housing Loan Approval Letter and Housing Loan Agreement/ Mortgage Form 16A (if the housing loan approval has exceeded one year from the date the withdrawal application is received). 1.6 Proof of relationship (for joint purchase involving spouse or next of kin namely parents or siblings. For joint purchase involving next of kin, the member is required to submit an explanation letter stating the reason for the joint purchase.
C. PURCHASE FROM INDIVIDUAL
All documents in paragraph 1.1 to 1.5; If the purchase is from the next of kin (parents/ spouse/ children/ siblings), you have to produce the proof of transaction which in this case refers to Transfer of Ownership Form (Form KTN 14A) / ‘Deed of Assignment/ Memorandum Of Transfer; If the purchase is made with a loan, the following additional documents must be produced: If the purchase is made by cash, the following additional documents must be produced: (a) A confirmation letter from a lawyer’s office that handles the transaction stating that the purchase is by cash; (b) Proof of payment of at least 20% of the price of the house; AND (c) If Form KTN 14A OR Deed Of Assignment in your name as mentioned above has not been processed by the Land Office, the following documents are required: For Buying from Developer or Public Auction and others, please refer here.
Modes Of Payment A. Payment in Malaysia
Payment is via direct crediting into your bank account subject to the following conditions: a. Your bank account is still active; AND
b. Your bank account is with a panel bank appointed by the EPF; AND
c. Your bank account is a Personal Savings/Current Bank Account OR a Joint Bank Account (for withdrawal amount more than RM100,000 only).
d. Your personal indentification number matches with the bank’s record.
e. Payment is in Ringgit Malaysia (RM).
If EPF is unable to credit the payment into your bank account, due to causes such as bank account is not active or your personal identification number does not match with the bank’s record, you will be paid by banker’s cheque.
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