Thank you for your email of 4 February 2014.



After the full refund of the CPF principal amount used for your HDB flat plus the accrued interest to your CPF account, you can use all the available amount in your Ordinary Account (OA) to purchase the private property and to service the housing loan up to the property's Valuation Limit (VL). This is if the property has a remaining lease of at least 60 years. VL is the purchase price or the value of the property at the time of purchase, whichever is lower.



If your housing loan is still outstanding when the total CPF usage for the property reaches the VL and you are below the age of 55, you may, after setting aside half of the prevailing Minimum Sum, continue to use your OA savings to repay the housing loan up to the applicable Withdrawal Limit.



Savings in your Special Account (including the amount used for investments under CPFIS-SA, if any) and OA can be used to meet this required amount. If you are 55 years and above when the VL is reached, you may use the excess amount in your OA to repay the housing loan after setting aside your Minimum Sum cash shortfall (if any).



Withdrawal Limit is the maximum amount that CPF members can withdraw towards their property. For properties with remaining lease of at least 60 years, the Withdrawal Limit is 120% of the VL.





Under the Private Properties Scheme, CPF members (except undischarged bankrupts) may withdraw their Ordinary Account savings to:

i. make direct payment to the property developer or vendor to buy a freehold residential property or residential property with a remaining lease of at least 30 years in Singapore. However, the remaining lease must last you up to at least 80 years old.

ii. repay a housing loan taken to buy a residential property

iii. repay the stamp duty and legal fees incurred (provided you are also using your CPF for any of the points above)



If you are proceeding with the use of your CPF savings for the private property, please instruct your lawyers to submit an application via "my cpfOnline Services". Your application should be accompanied by:



i. a copy of the Valuation Report as at the time of purchase

ii. relevant documentary evidence showing the relationship among the co-owners (if any)





The Board will release your OA savings upon completion of all legal documentation and after you have paid:



(a) the minimum cash payment of 5% or 25% of the property’s VL ; and

(b) the cash difference between the purchase price and the CPF lump sum and the loan.