In a nutshell: My entire experience applying for the loan was really good (other than HSBC’s slowness). I’m impressed by the service and efficiency of the EPF staff. Good work!
So… we start off by visiting the KWSP website, and then click on English.
Next up, download the Loan Reduction Form, print it (double-sided to save on paper) and fill it up.
Plenty of instructions. But quite ok-lah, I only got stuck here at (D)5. Here you fill in the amount you are asking for - which is usually everything in your Account II. I wrote the same amount I loaned from the bank. (Fortunately, the officer was kind enough to cross the whole thing off and re-write it for me.)
Here are the documents you’ll need:
|
No
|
Task |
| 1 |
Identification Card / Military Identification Card /MyKad |
| 2 |
Bank Account Book |
| 3 |
Letter from the financial institution confirming the latest outstanding balance of housing loan according to the pre-set format. |
| 4 |
Sales and Purchase Agreement / Construction of House Agreement * |
| 5 |
Housing Loan Approval Letter (in your name for individual / joint withdrawal or in spouse’s name for withdrawal to assist spouse) |
| 6 |
Deed of Title (11A/B) in your name (individual / joint withdrawal) or in your spouse’s name (assisting spouse withdrawal) and Mortgage Form 16A (including Annexure) *;
OR Deed of Assignment and the security documents as mentioned in the Loan Approval Letter, if any *. |
When I first saw the list, *ouch* - it’s the first time I’ve applied for this and I didn’t recognize half of the items on it.
Next, (at Mr Mun’s advice), call up your bank (mine is HSBC) and asked them to send you the necessary documents. They will ask for a letter. Sample letter here.
I faxed mine over. It took forever to send the documents over. However, they were most helpful when I called to bug them. Everytime.
There are charges for the documents. HSBC bank charges RM50 for the set. Standard Chartered does the same as well.
Once the documents arrive, check it and it should match everything on the list. Mine did! (Hurray!) So I didn’t have to hunt for any documents on my own. Great!
So off you go to their office, here’s the timeline for mine for your reference.
Most importantly - go with a optimistic outlook, and expect great service.
7:30 AM - Arrived at the EPF Office in Jalan Gasing. (Ok I was a little early.)
8:03 AM - EPF Office opened ahead of time. (Hurray! They usually open at 8:15 AM.)
8:15 AM - Saw the officer.
8:20 AM - Stamped “lulus” on my form. Approved. (Double hurray!)
8:30 AM - On my way to work.
2 - 3 weeks from now and you can pick up your cheque. Only downside was that after 3 years (from the time the loan was taken) - you can’t deposit it into your account anymore. It goes straight into your loan account. (>_<)
*new* Housing Loan Monthly Installment Withdrawal.