Repaying the CPF Housing Loan (Part 1)

CPF Repayment of House

Its done..

I repaid half of what I took from the CPF to pay for the first 5% + Stamp duty. Its quite a hit on my wallet, especially since I paid 75% of the total bill. But I’m sure the money + interest will come in useful again when the key collection is here. At 2.5% this was higher than the banks savings interest rate, prevailing SSB or short-term instruments that were available, so while I am cognizant that the returns are low, I’m glad I tried my best. Also, the extra 1% under 20k goes to feed the SA account.

I also coerced/forced my girlfriend to do the same with her withdrawn amount. She paid down >90% of her outstanding. Hopefully, we will both be able to cross the line smoothly come key collection day in 3 years time.

The amount was quite a significant one and might well affect my ability to meet the portfolio targets set out for the year, but heck, it wasn’t money I was prepared to lose.

2 thoughts on “Repaying the CPF Housing Loan (Part 1)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s