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24-05-2014, 12:20 AM
An honorable member of the Coffee Shop Has Just Posted the Following:
This is only for illustration
Let's say total selling price for a new BTO flat is $100,000
You paid $50,000 using CPF OA, balance $50,000 paid by cash.
In this case zero loan, BUT 2.5% accrued interest will be impose on your CPF OA $50,000 continously from the first day you make the withdrawal till the day you sell your flat.
5 years later you sold your flat at $150,000, CPF Board send you a letter saying total principal withdrawal is $50,000 and accrued interest is $30,000.
$150,000 - [$50,000 + $30,000( principal + accused interest)] = $70,000 cash return to me?
Click here to view the whole thread at www.sammyboy.com (http://www.sammyboy.com/showthread.php?182242-CPF-Accrued-Interest-for-HDB-flat&goto=newpost).
This is only for illustration
Let's say total selling price for a new BTO flat is $100,000
You paid $50,000 using CPF OA, balance $50,000 paid by cash.
In this case zero loan, BUT 2.5% accrued interest will be impose on your CPF OA $50,000 continously from the first day you make the withdrawal till the day you sell your flat.
5 years later you sold your flat at $150,000, CPF Board send you a letter saying total principal withdrawal is $50,000 and accrued interest is $30,000.
$150,000 - [$50,000 + $30,000( principal + accused interest)] = $70,000 cash return to me?
Click here to view the whole thread at www.sammyboy.com (http://www.sammyboy.com/showthread.php?182242-CPF-Accrued-Interest-for-HDB-flat&goto=newpost).