Owning a new home is a dream for many Malaysians, and with the right financial planning, it can become a reality sooner than you think. One of the most effective ways to fund your new home is by leveraging your EPF (Employees Provident Fund) savings, specifically through withdrawals from KWSP Account 2. If you’re eyeing a property like Santorini@Botani Ipoh, this guide will walk you through the process of using your EPF savings to make your dream home a reality.

Santorini@Botani Ipoh is a stunning residential development located in the serene and lush surroundings of Botani, Ipoh. Inspired by the iconic architecture of Santorini, Greece, this development offers a unique blend of modern living and natural beauty. With spacious layouts, high-quality finishes, and a peaceful environment, it’s no wonder why many are eager to call Santorini@Botani their home.

Eligibility for EPF Withdrawal for Property Purchase

To withdraw from your KWSP Account 2 for a property purchase, you must meet the following criteria:

✅Malaysian Citizen: Only Malaysian citizens are eligible.

✅Age: Below 55 years old (EPF savings are frozen at 55).

✅Property Type: The property must be a residential unit (e.g., house, apartment, condominium).

✅Loan Approval: You must have a valid Sale and Purchase Agreement (SPA) and proof of loan approval from a financial institution.

✅Minimum Savings: Your Account 2 must have sufficient funds to cover the withdrawal amount.

 

Steps to Withdraw from KWSP Account 2 for Santorini@Botani Ipoh

🏘️Choose Your Property.
Decide on the unit you want to purchase at Santorini@Botani Ipoh. Ensure the property meets EPF’s eligibility criteria.

✍🏼Sign the Sale and Purchase Agreement (SPA)
Once you’ve selected your unit, sign the SPA with the developer. This document is required for your EPF withdrawal application.

💰Apply for a Housing Loan
Secure a housing loan from a bank or financial institution. You’ll need the loan approval letter for your EPF withdrawal application.

📄Prepare Required Documents

• Copy of your NRIC.
• Sale and Purchase Agreement (SPA).
• Loan approval letter from the bank.
• EPF withdrawal form (Form 9C for housing).

1. Submit Your Application
   Submit your application online through the EPF website (i-Akaun) or visit the nearest EPF branch. Ensure all documents are complete to avoid delays.
2. Wait for Approval
   EPF typically processes withdrawal applications within 30 days. Once approved, the funds will be credited directly to your bank account or the developer’s account, depending on the agreement

Benefits of Using EPF Savings for Santorini@Botani Ipoh

1. Lower Financial Burden: Using your EPF savings reduces the amount you need to borrow, lowering your monthly loan repayments.
2. No Out-of-Pocket Expenses: You can use your EPF savings for the down payment, avoiding the need to dip into your cash reserves.
3. Faster Home Ownership: With funds readily available, you can secure your dream home at Santorini@Botani Ipoh without delay.

Owning a new home at Santorini@Botani Ipoh is within reach when you leverage your EPF savings through a KWSP Account 2 withdrawal. By following the steps outlined above, you can make the process seamless and stress-free. Start planning today and take the first step toward owning your dream home in one of Ipoh’s most beautiful developments.

For more information about Santorini@Botani Ipoh or EPF withdrawal procedures, feel free to reach out to us or visit the official EPF website. Your dream home is just a few steps away!