In Singapore, after you've completed the sale of your HDB flat, the CPF refund typically takes around 5 working days to be processed and credited back to your CPF Ordinary Account (OA).
Here's the general timeline:
1. **Completion of Sale:** The sale is considered complete when the property title is transferred to the buyer and the remaining sale proceeds (after paying off any outstanding mortgage loan) are disbursed.
2. **CPF Board Notification:** The CPF Board will receive the necessary documents from the relevant parties (e.g., HDB, lawyers) indicating the completion of the sale.
3. **Processing of Refund:** The CPF Board will then process your refund, which includes the following:
* **CPF principal amount:** The amount you withdrew from your CPF OA to pay for the flat.
* **Accrued interest:** The interest earned on the withdrawn amount, calculated at 2.5% per annum.
* **Housing grants (if applicable):** Any housing grants received, along with the accrued interest.
4. **Crediting to CPF OA:** Within 5 working days of receiving the relevant documents and funds, the CPF Board will credit the refund amount to your CPF OA. You can check your CPF statement to confirm the transaction.
**Important Note:**
* **Public Holidays:** The processing time might be slightly longer if there are public holidays in between.
* **Errors or Discrepancies:** If there are any errors or discrepancies in the documents, it might take longer for the refund to be processed.
**What to Do if You Haven't Received Your Refund:**
If it has been more than 5 working days and you haven't received your CPF refund, you can contact the CPF Board for assistance. They can check the status of your refund and provide you with an update.
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