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 However, if you have withdrawn before, then, you will not be eligible unless you have sold / relinquish your 1st house to someone else.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.
TO THE KWSP OFFICE
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.
HOW MUCH CAN YOU WITHDRAW?
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.