BUILD HOME
Through withdrawal from Account 2
*The cost of the land purchase will be taken into account if the Land Purchase Agreement is within two (2) years of the Construction Agreement
**Certified financial institutions under the Financial Services Act 2013 or Islamic Financing 2013; Central/State Government or any other government financing institutions; member's employer; Licensed Cooperative/Cooperative bodies (approved by SKM); Insurance Companies licensed by Bank Negara; or other EPF recognised loan providers.
INDIVIDUAL WITHDRAWAL | JOINT WITHDRAWAL | |
---|---|---|
Housing Loan | Difference between house construction cost and approved loan amount + 10% of the construction cost OR Entire savings in Account 2 (whichever is lower) |
Difference between house construction cost and approved loan amount + 10% of the construction cost OR Applicant's entire savings in Account 2 (whichever is lower) |
Self-Financing/Cash | The construction cost + additional 10% OR Entire savings in Account 2 (whichever is lower) |
The construction cost + additional 10% OR Applicant's entire savings in Account 2 (whichever is lower) |
Financing features may vary for your 1st and 2nd home. So, it's crucial to get all your documents right to pave your way to smoother applications.
Housing Loan Approval Letter* AND
Housing Loan Agreement/Mortgage Form 16A/Deed of Assignment/Title Deed that is in member/spouse's name
Land Sales and Purchase Agreement
(Dated within 6 months of the Construction Agreement)
*The cost of the land purchase will be taken into account if the Land Purchase Agreement is within two (2) years of the Construction Agreement
**Certified financial institutions under the Financial Services Act 2013 or Islamic Financing 2013; Central/State Government or any other government financing institutions; member's employer; Licensed Corporation/Cooperative bodies (approved by SKM); Insurance Companies licensed by Bank Negara; or other EPF recognised loan providers.
INDIVIDUAL WITHDRAWAL | JOINT WITHDRAWAL | |
---|---|---|
Housing Loan | Difference between house construction cost and approved loan amount + 10% of the construction cost OR Entire savings in Account 2 (whichever is lower) |
Difference between house construction cost and approved loan amount + 10% of the construction cost OR Applicant's entire savings in Account 2 (whichever is lower) |
Self-Financing/Cash | The construction cost + additional 10% OR Entire savings in Account 2 (whichever is lower) |
The construction cost + additional 10% OR Applicant's entire savings in Account 2 (whichever is lower) |
Financing features may vary for your 1st and 2nd home. So, it's crucial to get all your documents right to pave your way to smoother applications.
Letter of Oath – must include property details, home type, build start date and construction cost with RM10.00 revenue stamp
Construction Agreement date should not be more than 3 years from application
Letter of Oath – must include property details, home type, build start date and construction cost with RM10.00 revenue stamp
Construction Agreement date should not be more than 3 years from application
Local Payments | Overseas Payments |
---|---|
Full payment in Ringgit Malaysia (RM) will be credited to your account If you hold an active account with our panel bank and your identification no. matches the bank records |
Full payment will be made via Foreign Demand Draft in the currency of your choice If your preferred currency is included in our list of approved currencies |
You will be issued a Bankers Cheque If payment to your account is unsuccessful |
Full payment will be made via Foreign Demand Draft in US Dollars If your preferred currency is not available on our approved list |
(complete with name, designation and official stamp except for copies of documents which require certification by an EPF officer)
ACKNOWLEDGED OFFICERSLocked Bag No. 220
Jalan Sultan
46720 Petaling Jaya,
Selangor, Malaysia
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