Total required CPF refund In the illustration above, there is a negative cash sale of $68,000.
But on balance, you can write to CPF and appeal to write off this ‘debt’ if you are strapped for cash. Approval however is up to CPF’s discretion and is judged on a case-by-case basis. A voluntary CPF housing refund can be made when you top up money to your CPF OA in order to pay back the amount you have used when purchasing your house. Besides the biggest benefit of reducing the amount of money you need to pay back to your CPF when you sell your house in the future, there are other benefits to making a voluntary CPF refund as well, which include:
Of course, you have to take note that you cannot withdraw that money until you are at least 55 years old, so as much as you are eager to cut down the repayment amount, make sure you save enough for a rainy day.Ready to reduce the amount of interest you need to repay your CPF OA for your housing loans?
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