Example 1
Encik Sallehuddin purchased a house costing RM75,000.00 and obtained a housing loan of RM60,000.00. He has an EPF savings of RM18,000.00 in Account II. Therefore the amount of savings he can withdraw is :
| Price of The House |
RM 75,000.00 |
| Housing Loan |
RM 60,000.00 |
| Difference Between Price of The House and Housing Loan |
RM 15,000.00 |
| Additional 10% of The Price of The House |
RM 7,500.00 |
| Amount Eligible For Withdrawal |
RM 22,500.00 |
| Balance in Account II |
RM 18,000.00 |
| Amount That Can Be Withdrawn |
RM 18,000.00 |
Since the balance in Account II is only RM18,000.00 which is less than the amount that he is eligible to withdraw i.e. RM22,500.00, Encik Sallehuddin can only withdraw RM18,000.00.
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