Can I use my Special Account savings to pay my housing loan?

Q: Can I use my Special Account savings to pay my housing loan?

No, you cannot use your Special Account savings to pay your housing loan, as these funds are specifically reserved for retirement purposes. You can only use your Ordinary Account savings for housing-related payments including: Down payments Monthly instalments Legal fees If you need assistance with your housing loan: For HDB loan: You can approach HDB on the financial assistance measures that would work best for your situation. For bank loan: You can approach your financier on the financial options that are available to you.

Question

Accepted Answer

No, you cannot use your Special Account savings to pay your housing loan, as these funds are specifically reserved for retirement purposes.

You can only use your Ordinary Account savings for housing-related payments including:

Down payments
Monthly instalments
Legal fees

If you need assistance with your housing loan:

For HDB loan: You can approach HDB on the financial assistance measures that would work best for your situation.

For bank loan: You can approach your financier on the financial options that are available to you.

Can I use my Special Account savings to pay my housing loan?

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Related questions

I am a bankrupt. Can I use my CPF savings to buy a property or to pay for the housing loan of my existing property?

Can I use my Ordinary Account (OA) savings to service the housing loan taken by my parent(s) or sibling(s) or transfer my OA savings to their accounts to help with the loan payments?

I am currently using my CPF savings to service my housing loan. Can I continue to use my withdrawable CPF savings for housing payments?

If I did not apply to use my CPF savings when buying my HDB flat, can I apply to be covered under the Home Protection Scheme and use my CPF savings for monthly housing instalments now?

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