How to check your CPF Property Refund Amount
Most of us use our CPF to fund the purchase of our HDB flat.
And if you are planning to sell your HDB, the amount that you have used from your CPF to pay for your property, will need to be refunded back to your CPF when you sell your HDB flat.
Hence, it is important to find out what is your CPF Property Refund Amount, so you can do up an accurate calculation to know your finances and your sales proceeds.
So, how can you derive how much is your CPF property refund amount?
Your CPF property refund amount will be the total sum of – CPF Principal Amount Used and CPF Accrued Interest. The exact amount can be easily checked on CPF website.
Let’s show you step by step on how you can find out what is your total CPF Refund Amount:
It is very easy to find out how much you need to put back into your CPF if you were to sell your HDB flat today.
And similarly, you will need your Singpass in order to login to find out on CPF’s website.
Here are the exact steps to help you find out your CPF refund amount:
1. Click on this link: CPF Member
2. Log in using your Singpass
3. Click on ‘My CPF’
4. Click on ‘Home Ownership’
Now, you should be at your Home Ownership Dashboard.
And you should be able to see:
• Total Principal Amount Withdrawn
• Total Accrued Interest
These are the amounts that you will need to refund back to your CPF when you sell your property.
Add these 2 figures up (Principal Amount + Accrued Interest) and you will get the exact CPF Property Refund Amount as of today.
If your HDB flat has more than 1 owner, you will also need to do the same to find out the CPF Refund Amount of the co-owner.
Thereafter, you can sum up the Total CPF Property Refund Amount for all owners, and use this final figure for your HDB Selling Sales Proceeds Calculation.
• Find out your total CPF refund amount
• Find out your co-owner/s total CPF refund amount
Add up the figures to get the Total CPF Property Refund Amount for all owners.
What to take note?
The CPF Property Refund amount that you check now is based on today’s amount as indicated on your CPF’s dashboard.
This means that if you were to do up your selling sales proceeds calculation based on this figure, your calculation will be based on today’s CPF refund amount.
So, you need to take note that the actual final figure will be based on the date of your HDB sale completion date, which will normally be about 3 to 4 months later, if you have not sold your HDB flat yet.
Hence, your sale proceeds might differ slightly, as you might still be making monthly mortgage payments, and your CPF refund accrued interest is also still running.