EXAMPLE 3 (Joint Purchase)
Encik Amir and Puan Syuhada purchased a house costing RM100,000.00 and they obtained a housing loan of RM100,000.00. The total savings in Account II for Encik Amir is RM9,000.00 and for Puan Syuhada is RM3,600.00.
| Price of The House |
RM 100,000.00 |
| Housing Loan |
RM 100,000.00 |
| Difference Between Price of The House and Housing Loan |
NIL |
| Additional 10% of The Price of The House |
RM 10,000.00 |
| Amount Eligible For Withdrawal By The Couple |
RM 10,000.00 |
| Balance in Account II of Encik Amir |
RM 9,000.00 |
| Balance in Account II of Puan Syuhada |
RM 3,600.00 |
| Amount That Can Be Withdrawn By Encik Amir |
RM 9,000.00 |
| Amount That Can Be Withdrawn By Puan Syuhada |
RM 1,000.00 |
| Total Amount That Can Be Withdrawn By The Couple |
RM 10,000.00 |
Since both members obtained 100% housing loan, the total amount eligible to be withdrawn by the couple is only 10% of the price of the house, i.e. RM10,000.00. The EPF will firstly process withdrawal application from Encik Amir amounting to RM9,000.00 plus dividend and followed by withdrawal application from Puan Syuhada to make up the amount not exceeding RM10,000.00.
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