CPF Voluntary Housing Refund: Who Qualifies and What You Get
Learn how to reduce the accrued interest on your CPF account by making a voluntary refund for your home purchase.
This scheme allows homeowners to pay back the money they used from their CPF accounts to purchase their home. Doing this helps manage the interest that has accumulated on those funds.
Who it's for
This is for owners of HDB flats who used their CPF savings to pay for their home purchase.
What you get
By making this refund, you reduce the accrued interest that is recorded against your CPF account. This can help free up your CPF funds for other uses in the future.
What it costs you
To use this scheme, you must make a cash payment from your own savings.
The catch to know
Once you have made this refund, the money you put back is locked into your CPF account; you cannot withdraw it for other personal uses.
How to apply
- Check your CPF account details to see your current accrued interest.
- Decide on the amount you wish to refund.
- Log in to the official portal to process your payment.