CPF Ordinary Account Housing Usage: Who Qualifies and What You Get
Learn how you can use your CPF Ordinary Account savings to cover downpayments and monthly mortgage installments for your home.
This scheme allows you to use the savings in your CPF Ordinary Account (OA) to help fund your home purchase and ongoing housing costs.
Who it's for
This is available to all CPF members who have enough savings in their Ordinary Account to cover the costs.
What you get
You can use your OA funds to pay for your property's downpayment and your monthly mortgage installments.
What it costs you
While there is no direct fee to use this feature, your usage is subject to specific valuation limits and withdrawal limits set by the authorities.
The catch to know
The main thing to keep in mind is that using a large portion of your OA for housing reduces the amount of money available in your retirement nest egg for your later years.
How to apply
- Check your current OA balance through the official portal.
- Determine your required downpayment and monthly installment amounts.
- Ensure your usage stays within the applicable valuation and withdrawal limits.
- Visit the official portal for more details: https://www.cpf.gov.sg