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Hi,
1. what documents are required for bank loan? if no payslip, can I get a letter from employer stating average monthly salary?
2.For Example, I use all my ordinary account CPF + bank loan to finance a new hdb flat, and I'm still employed while making the loan repayment. can I use those CPF generated to pay my bank loan?
3. Is there any "hidden fee" for bank loan?
Thanks
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2 Answers

Aaron Chong
Replied
Hi John, payslip is required for the bank to determine the maximum amount that you could borrow. If you do not have payslip, you could give the NOA. And yes, CPF could be used for the deduction of bank loan for the flat. Pls feel free to let me know if you need any banker's contact or any other assistance.

Regards
Aaron
 97308455 
aaronchong2774@yahoo.com.sg Read More
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  • J.
    Replied
    My sister does not have NOA because her annual salary is less than $22000. In that case, can her employer give a letter stating her annual gross salary?
Mike Lim
Replied
Afternoon John,

Given the case when your company does not provide payslip, you can provide your monthly CPF contribution and the company's Letter of Employment to facilitate the assessment on your income. Alternatively, you can utilize your year Notice of Assessment.
As long as you are working and CPF have being contributed, you can utilize the amount contributed to your OA for financing on your mortgage.

Do feel free to contact me so that I can get my banker to contact your directly.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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