AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
If I have an outstanding housing loan with the bank and I am able to redeem it with my CPF, is it advisable for me to do so or should I continue servicing it through my bank loan, so that I can earn CPF’s 2.5% interest while I pay less than 2% of bank interest? Your advice, please. Thanks.
0 •
437 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

1 Answer

Robbie Chen Chee Howe
Replied
Hi,

I believe you have answered your own question.

CPF is paying you 2.5%, and you're paying bank less than 2%.

Why would you want to take out money that is earning you a better interest, and paying to the bank that charges you a lower interest?

Having said that, have you thought that you may be able to get more returns via astute property investment? The returns definitely beats 2.5% and 2% hands-down.

If you're keen to explore further, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions