EPF - Monthly Installment Withdrawal

Did you know that you actually can withdraw money from your Account 2 for housing loan monthly installment?

I knew about this when we made a withdrawal for our first house deposit. While processing our application, the officer told us we can make withdrawal from Account 2 for housing loan full settlement or monthly installment.

Your can read more and download the application form here.

So, I went to EPF office last Friday. Afraid that I will missed any documents, I brought all the documents (they might) needed like a photocopy of mykad, latest EPF statement, latest bank statement (housing loan account), application form and S & P agreement.

Met the front desk officer and later that I know, I am at the wrong location hahaha. Confident je kan. I actually need to go to the bank directly. In this case, I need to go to RHB near my workplace. Fetch husband at mosque and we reached bank 15 minutes later. We went to see the respective officer, the one who help us with our housing loan.

I told her my intention and all I get is a stare. Takut kejap haha. Then she explained, in details. Long story short, well after about an hour of non stop nags. She advised, if only we have a serious financial problem in monthly installments then we should consider this withdrawal. If we still can afford it's better to untouched our Account 2. Save for the future, for our retirement she says.

We give a second thought. We need more saving for our future.

Took all my documents and we left the bank.

Technically, our application is unapproved.

But if you really really really have problem with your monthly installment, you can always ask your banker for advise.


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Nad