After some house-hunting effort, my Fiancée and I finally settled down for one Town House. This is really our first time purchasing a house and we were not sure what is coming our way. But, this post is more on how to withdraw your KWSP / EPF money from your account 2. So, I will go straight to this.
At first, we have many doubts and questions when we tried to apply for the housing withdrawal. Here are some of the steps to guide you through hopefully, if you were facing the same situation as ours.
This post is more for those who bought the house from another owner, not developer.
You must be a Malaysian to be eligible.
The first worry was, whether both of us can withdraw from our account for the same property if we were not married yet. Well, if you were not married, you still can withdraw Account 2 if both of you are borrowers for the loan as well as the owners for the property. It simply means that both your names are in the Bank Loan as well as the Sales and Purchase Agreement. If you were married, then things will be easier. Both of you can withdraw even though only one of your names are in the S&P and Bank Loan. Just provide the marriage certificate. Do double check with KWSP though.
It is the easiest if both of you is withdrawing for your first house. If you already had a house, and this is your 2nd house, you still can withdraw if the 2nd house is your 1st time withdrawal. However, if you have withdrawn before, then, you will not be eligible unless you have sold / relinquish your 1st house to someone else.
It is really important to get all your documents ready before visiting your nearest KWSP Branch. You do not want to make double trips for missing documents or uncertified ones.
1. KWSP 9c (AHL) – Application for Housing Withdrawal Form .Download Here. There will be fields of which you are not sure what to fill in. If that is the case, leave them blank. The officers of KWSP will advise you on that. They are a very helpful bunch! =)
2. A copy of your IC front and back on a single A4 page.
3. A copy of your Sales and Purchase Agreement. Bring along the original copy to be sighted by the KWSP officer so that they can certify it.
4. A copy of your Bank Statement. Make sure that it is certified by the Bank themselves before you bring it in to KWSP office.
5. A copy of the Land Title (Surat Hak Milik) certified by your lawyer’s office. (Ours is still Master Title)
6. A copy of the Developer’s Confirmation Letter which is certified by the lawyer’s office. (Ours is still Master Title)
7. A copy of Bank Offer Letter. Make sure that all pages are signed by respective parties be it the bankers or yourselves. Bring along the original copy for the KWSP officer to certify your copy for submission.
Of course, if it’s for 2 persons’ application, you need to have 2 sets of documents of the mentioned above.
DO NOT STAPLE YOUR DOCUMENTS AND USE ONLY BLACK INK PEN TO FILL IN THE FORMS. MAKE SURE IT IS WRITTEN IN CAPS.
Get more information HERE.
Once you are ready with the above, you can set to go your nearest KWSP office. It took us less than an hour to get all these done because we were thorough in preparing our documentations. You should do that to save time.
We went to the one in Jalan Gasing. To see the list of KWSP branches, you can find list of EPF offices HERE.
Once you are there, take a number from the reception. Tell them that it’s for Housing Withdrawal. They will give you a number and direct you to the Documentation Verification counter. Here, there will be KWSP Staff who would make sure that all your documents are in place. Here is the place to ask them on how to fill in the fields which you were unsure. Example, we were not sure of the Lot Number, HSM No, HSD No. , etc.
After the above is done, you will need to take a number again from the reception. This time, you will go to the respective officers at another counter to certify your documents and get your Thumb prints stamped on the form. Upon completion, the officer will give you a copy of Acknowledgement Notice to indicate that they have received all the documents.
Go home and wait for the good news! =) Apparently, it is about 3 weeks if all goes well for the money to be transferred over. We are still waiting for ours.
You can withdraw (The difference between the Property Price and the Approved Loan amount) + 10% of the Property Price.
For example, if the property is RM100 000 and your loan amount is RM90 000. You can with draw RM100k – RM90k = RM10k + (10% of RM100 000) = RM10k + RM10k = RM20k.
More information can be found HERE.
If you need to speak to someone, you can always call their Call Centre at 603 89226000. They are really really helpful.
Our experience dealing with the KWSP Office in PJ was a very pleasant and efficient one. We are thankful for the officers who have helped us out. Hope that your experience will be like ours too!
All the best in your application.
Hello eric. Regarding your article above, let say i do not have money for the new house deposit and would like to withdraw from account 2, can this be done? Coz as i know we need the s&p in order to apply for the withdrawal. Without paying the deposit, i can’t have the s&p right? So, no s&p which means cannot withdraw account 2?
Pls reply if you know the answer to my question. Thank you very much eric?
Hi Elaine,
Thanks for visiting my site. Yes, the EPF policies are really strict. You need to have all the paperwork in place as a proof of a house purchase before they can approve to release your money. You can always negotiate with the seller and tell him that you will pay the deposit once the money is released. If he/she didn’t want, I guess you need to borrow from friends or family first.
But do remember, deposit is one thing. The deposit is the 2%. You will still have to pay your legal + S&P fee to have the S&P processed. The fee will depend on how much is the value of your house. Ask your lawyer for rebate for the legal fee you might just get lucky. =)
Very useful info and may I know how does the KWSP transfer the money? Is it to the current active bank account (personal account) or directly pay back to the respective bank that i did the house loan? Did you get yours successfully?
Thanks for the assisstance…
If the house owner name is under myself & my sister name and without my husband name, my husband is that can withdraw the EPF to settle the partial loan payment ??
Can i know, if i draw down the amount, it is bank in to my personal account or loan account.
I am purchase my first house.
Hi Ai Lee, the last time when I applied, it went straight into my Maybank Savings Account. =)
The last I know is that both has to be the owner of the house to withdraw from the EPF. You can double check with them. But I doubt so.
Hi Grace, sorry for the late reply. You can get the payment transferred to your personal savings account. I suggest you use current account so that you can write a cheque to make payment instead of transferring the amount from one account to another. =)
Hi Eric,
I have withdraw my account 2 for my first house before.
Now i already purchased my second house and my first house already sold out.
I’m going to withdraw again from account 2,may i know
this time the money will straight transfer to my personal bank account or bank loan account ?
The amount i can withdraw is it still same calculation as below for second time withdraw ?
The difference between the Property Price and the Approved Loan amount + 10% of the Property Price.
Thanks.
Hi Peter,
I wrote based on my experience in withdrawing the EPF for my 1st house purchase. I am not sure of the procedure of withdrawal for second house. Do give KWSP a call, they are a helpful bunch. =)
is it only can withdraw from 2nd account? how about another account?
Yes, you can only withdraw from Account 2. =)
hey eric, may i know how long does it takes from your submission date until they transfered the amount to you?
Hi Daniel,
It took about 2 weeks for the money to arrive into my bank account.
Hello,Eric.can I know that if my house without my name is only my husband name.can I withdraw the epf account 2 to help him?
Hi Eunice,
When my fiance and I bought the house. We were not married yet. Hence, the house must have 2 persons’ name on it. But if you are married, I think EPF allows you to withdraw the money to help your husband. You just need to bring documents of proof that you are married. Don’t take my word for it. Do check with the EPF people. They are a really friendly bunch. =)
Hi Eric,
I bought a house on Feb 2012 and what is the maximum duration for me to apply for the withdrawal before I am not eligible to do so?
Plan to apply as late as I could so that I can withdraw as much as I could.
Thanks
Hi Eric
What is the maximum duration for a buyer to apply for the withdrawal from the date of the purchase of the house?
I bought a house on Feb 2012 and plan to withdraw the money as late as possible to maximize the withdrawal amount
Thanks
Hi Eric
What is the maximum duration for a buyer to apply for the withdrawal from the date of the purchase of the house?
I bought a house on Feb 2012 and plan to withdraw the money as late as possible to maximize the withdrawal amount
Thanks
Dear Eugene,
Sorry, but I am not too sure of this as I have not done this myself. We did the transaction right after we bought our house. Perhaps you can check with the EPF themselves.
I have already enroll the widrawer and expired by this month, July 2012. I would like to continue the widrawer. How am I going to continue widraw the fund from KWSP. Is the process will be the same as application for the first time?
Hi Kamarul, Consequent withdrawal is to pay off/reduce your loan monthly if I have not mistaken. I am not sure if the steps are the same. Kindly check with KWSP for more information regarding this. Thanks you.
Cn I know. If .my 2nd nt
enuf. Money. Cn I tl take. Frm. 1st acc
Hi Eric
Thanks for the useful information. It helps a lot. One question, do I need to maintain a minimum amount of money in Account 2? Can I withdraw all from Account 2 to repay my loan?
Thanks
CCC
hi eric,if i want apply epf acc2 to renovation for house,is it ok ?
that house owner name is mine and my dad..just buy few month and last month get the key only..if can ,then what paper work i need to prepare..
I recently booked a new unit which will be completed in mid of 2015. i have paid booking fees which is part of the 10% deposit. My housing loan still in process not yet approve, once approved i need to pay the remaining of the balance. And now would like to know whether i can withdraw my EPF Account II to pay the first downpayment? From the terms and conditions listed by EPF, my account II may not sufficient. How should i go about it?
Hi Eric,
Fantastics and informative page. I bought a house from owner thru broker. I have a question, what if the Developer already bankruptcy, hardly to get a copy of the Developer’s Confirmation Letter which is certified by my lawyer’s office ? Is this a mandatory document ?
Any thought ?
I would like to clarify now the situation is my dad transferred his house to me as owner which Iam still carrying the loan of the house, however we don’t have a Sales and Purchase Agreement due to the reason that we wished to save the lawyer fees. Therefore, I would like to ask if I don’t have a Sales and Purchased Agreement so can I withdraw my EPF account 2 for my house loan settlement? Please advise
Thanks!
Hi Joan,
As far as I know, they will need to see the S&P as a proof. Do call them and check out. They are very friendly and will help you.
Hi Terence,
I am not too sure about that. Can you call them and find out.
Hi Vintt,
I am not sure about this. You can always call the EPF helpline. They are really helpful!
Hi CCC,
There is a certain percentage calculation between the price of your house and how much you can withdraw. Do check with the EPF Officer and they will guide you on that.
Hi Devi, I believe you can only withdraw money from Account 2.
Hi Eugene, I am not sure if there is a dateline for it. My gut feeling is that you can go and withdraw whenever you are already equipped with the details and is ready to spend your account 2 for your house. But I do know that you can withdraw it out as your monthly repayment after the purchase of the house.
Hi! Hope you are enjoying your new home! I’m a Malaysian with a PR in Australia and i bought my house in Australia. I want to withdraw my EPF but read on another website that i am not eligible, by any chance do u know if its true or if any of ur friends are in my situation and have successfully done so? Thank you!
Hi Sue, I am not sure if you can withdraw EPF money for your house in Australia. =) Do check with the EPF department. They are a helpful bunch.