How do I make full repayment of my housing loan with my CPF funds?

Redemption with CPF Funds #

If you wish to repay your outstanding loan with mortgagee bank (Bank) with your CPF funds, you or your appointed lawyers will require to serve a notice of redemption on the bank, usually giving at least two months’ written notice (please check with the bank on its requirement). The final payment date is called the “redemption date”.

Applying for Remittance to CPF Board #

For settlement via your CPF funds, please make the necessary application to CPF Board to remit the outstanding loan amount to the Bank within 3 to 5 working days before the redemption date (subject to the Bank’s policies). Kindly note that if you remit your CPF funds too early, eg. one month before the redemption date, the Bank may reject the payment and remit the funds back to your CPF account. Therefore, please always follow the Bank’s instructions given to you.

Application Process #

The application process to use your CPF savings to make partial repayment or full repayment of your housing loan depends on the type of loan you have taken, namely, a HDB Loan or a Bank Loan. On such application, please refer to CPF Board’s guidance at this CPF’s FAQ.

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