Oct 7, 2020

Cory Diary : CPF Housing Loan Refund Experience

In earlier article there is an Issue mentioned regarding low interest rate from the bank (1.1 % DBS Today for 11 months Fixed Deposit ) and higher Accrued Interest to pay back to CPF. It makes sense for me to do something.

The CPF Housing interest is computed on the CPF principal amount withdrawn for housing on a monthly basis (at the current CPF Ordinary Account interest rate) and compounded yearly. If this OA money is put inside SA it would be even higher at 4% !

Therefore  I decided to work on the CPF Refund process. There are 2 methods that I can do online. One is via PayNow and the other eNets. The later I have given up due to some issue getting the code to my oversea mobile. However I am pleased that PayNow works perfect for me.

Selections in CPF WebSite

The steps I took to do it for my case.

1. Login to CPF
2. My Requests > Property > Make a Housing Refund with Cash ... etc  (Decide the amount you like to payback)
3. Select PayNow

iWeath SG
4. Login to your mobile app (I use iWealth)
5. Select Scan & Pay
6. Scan the CPF page QR code

That's it. Upon completion ... the CPF website will reflect the repayment into OA Account.



  1. Can I withdraw any amount from OA after the refund as I have reached BRF?

    1. Don't think I am qualify to answer but i am willing to share my plan or experience. LOL. Try writing to CPF. For my case, CPF is relatively smaller portion of my asset if you check my earlier asset article. So leaving them in SA or RA is a good option due to much higher interests (portfolio level) so I am not going to be limited by BRS assuming that's what you are referring to.