EXAMPLE 2 (Individual Purchase Without Housing Loan)
Encik Amirul purchased a house costing RM125,000.00. He did not take any housing loan to purchase the house. He has paid RM35,000.00 to the developer. His savings in Account II is RM60,000.00.
| Price of The House |
RM 125,000.00 |
| Housing Loan |
NIL |
| Difference Between Price of The House and Housing Loan |
RM 125,000.00 |
| Additional 10% of The Price of The House |
RM 12,500.00 |
| Amount Eligible For Withdrawal |
RM 137,500.00 |
| Balance in Account II |
RM 60,000.00 |
| Amount That Can Be Withdrawn |
RM 60,000.00 |
Since Encik Amirul has only RM60,000.00 in Account II, he can only withdraw all of his savings in Account II.
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