The amount of CPF Ordinary Account (OA) savings you can use depends on:
- Remaining lease of the property
- Type of property
- Loan type
- Whether it’s your first or subsequent property
Purchasing your first property
Your CPF usage is determined by whether the property’s remaining lease can cover the youngest buyer using CPF until age 95. If it does, you can fully utilise your CPF OA for the purchase. Please refer to Table A for the amount of CPF that you can use for a new property, and Table B for a resale or private property.
Table A: New flat bought directly from HDB
|
Loan type
|
Amount you and your co-owners can use from your CPF
|
|
No loan
|
You and your co-owners (if any) may use your respective OA savings to buy your property.
|
|
HDB loan
|
You and your co-owners (if any) may use your respective OA savings to pay your HDB loan in full.
|
|
Bank loan
|
You and your co-owners (if any) may use your respective OA savings up to the lower of the purchase price and the valuation price at the time of purchase.
If you still have an outstanding housing loan, you can continue to use your respective OA savings, up to another 20% of the lower of the purchase price and the valuation price of the property at the time of purchase, if you have set aside your applicable Basic Retirement Sum (BRS)* in your respective CPF accounts. No further CPF usage is allowed thereafter.
For example, if the lower of the purchase price and the valuation price at the time of purchase is $100,000, you and your co-owner (if any) can use up to $100,000 from your respective CPF accounts. Beyond that, you and your co-owner (if any) may use your respective OA savings up to $120,000, provided both of you have set aside your BRS. Any remaining housing loan payments must be made in cash.
|
Table B: Resale flat and Private property
| Loan type |
Amount you and your co-owners can use from your CPF
|
|
No Loan
|
You and your co-owners (if any) may use your respective OA savings to buy your property up to the lower of the purchase price and the valuation price at the time of purchase.
|
|
HDB loan
|
You and your co-owners (if any) may use your respective OA savings up to the lower of the purchase price and the valuation price at the time of purchase.
If you still have an outstanding housing loan, you can continue to use your respective OA savings, if you have set aside your applicable BRS* in your respective CPF accounts.
|
|
Bank loan
|
You and your co-owners (if any) may use your respective OA savings up to the lower of the purchase price and the valuation price at the time of purchase.
If you still have an outstanding housing loan, you can continue to use your respective OA savings, up to another 20% of the lower of the purchase price and the valuation price of the property at the time of purchase, if you have set aside your applicable BRS* in your respective CPF accounts. No further CPF usage is allowed thereafter.
For example, if the lower of the purchase price and the valuation price at the time of purchase is $100,000, you and your co-owner (if any) can use up to $100,000 from your respective CPF accounts. Beyond that, you and your co-owner (if any) may use your respective OA savings up to $120,000, provided both of you have set aside your BRS. Any remaining housing loan payments must be made in cash.
|
For properties with remaining lease that
cannot cover the youngest buyer using CPF until age 95, CPF usage is subject to certain limits. You and your co-owners (if any) may use your respective OA savings up to a specific percentage of the lower of the purchase price or the valuation price of the property at the time of purchase. For additional information, please see this
FAQ.
Purchasing your second or subsequent property
You can only use your OA savings after setting aside the BRS or Full Retirement Sum (FRS) (refer to Table C), up to the limits in Table B above.
Table C: Amount to set aside
| Property Ownership | Amount to set aside |
|
Buyer has at least one property that can last him till age 95
| BRS* |
| Buyer has no property that can last him till age 95 | FRS* |
* Savings from your Retirement Account or Special Account and OA can be used to meet the requirement.
For comprehensive information about using your CPF savings for property purchases, please refer to the
Terms and Conditions.
