7 Answers

Hi, appreciate your sharing. Depend on your plan and what you intent to do next 3 to 5 years?
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Stewart-PropNex (Senior Associate Division Director) Read More
Hi, i always tell my clients that it is better to pay by cash because of accrued interest from cpf. However, to pay 2.4k monthly by cash only is a little heavy. So what you're doing (half/half), is good. Of course when you can pay 100% in cash that's the best. But accrued interest is not entirely bad, you can look at it as forced savings for your retirement. But do you have an exit plan? Read More
Hi, this depends large on what plans you have moving forward. This is especially so when you plan to have a change of property in future. If your plan is to cash out in the future, and you are currently not doing any investment with your cash that is generating more interest than the cpf interest, it might be better to pay it in cash, since the cpf amount you use to pay with will accrue interest, and when you dispose of the property you have to put back the cpf used as well as the accrued interest. Speaking of which, if your cash is generating a healthier return compared to cpf interest rate, you can contribute more in cpf.

If you are currently in a property journey selling/buying/renting/investing, feel free to reach out to me for more assistance and advice, I would be glad to help you.

Landon Chew
landonchew@email.com Read More
As far as I am concern, the best will definitely be servicing the loan using cash as much as possible in order not to lose out on the interest that can be earned from your CPF account, but if using more cash means affecting your lifestyle and etc, then you will need to decide how you should adjust the proportion to be comfortable.

I have been in the real estate business since 2009, with more than 14 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

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You currently pay $1.2k from CPF and $1.2k from cash towards your monthly housing loan repayment.
Considering you have about $50k left in your CPF Ordinary Account (OA) and make the maximum monthly CPF contribution, you're wondering if it's better to increase your CPF contribution towards the loan payment.
You're contemplating paying $1.8k from CPF and the remaining $0.6k from cash.
Points to consider:

CPF Utilization: Using CPF for housing loan repayments can reduce your cash outflow, allowing you to preserve cash for other expenses or investments.

CPF Interest: However, it's important to note that CPF OA earns an annual interest rate, while cash does not. By using CPF, you're essentially forgoing potential investment returns on that money. Read More

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Robbie Chen Chee Howe

There is no right or wrong answer to your question. It all depends on your housing plans as well as your risk appetite and knack for investment.

If you are confident to generate more than 4-5% returns using your Cash on hand, then it probably make sense for you to pay the mortgage using your CPF funds, and keep the Cash for your investments. Ultimately, Cash is King.

If you're inexperienced and do not even invest the Cash, then using Cash to pay for your mortgage loan definitely beats leaving your Cash in your Bank's deposit savings account hands down!

I am experienced and well-versed in private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile +65 97 48 63 05. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
+65 97 48 63 05
PropNex Realty Read More