The CPF Housing interest is computed on the CPF principal amount withdrawn for housing on a monthly basis (at the current CPF Ordinary Account interest rate) and compounded yearly.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.
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.
Cory
2020-1007