sherry0321
Junior Member
- Joined
- Feb 20, 2012
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Hi,
My husband and I are considering if we should use Cash or CPF to pay for EC's monthly mortgage.
Currently we are paying the monthly mortage all by CPF. With that we can save about $6000 in cash each month.
We also have sufficient emergency fund in both our UOB One Account at 50k each which also earn the 2.4% PA interest.
If we now pay the monthly mortgage all in cash, which means we can only save about $3500 each month. As our monthly mortgage is about 2.5k.
May I know which one would be a better option? My concern of paying monthly mortgage all by CPF is when selling the EC we will need to pay back CPF the accrued interest.
Thanks a lot in advance
My husband and I are considering if we should use Cash or CPF to pay for EC's monthly mortgage.
Currently we are paying the monthly mortage all by CPF. With that we can save about $6000 in cash each month.
We also have sufficient emergency fund in both our UOB One Account at 50k each which also earn the 2.4% PA interest.
If we now pay the monthly mortgage all in cash, which means we can only save about $3500 each month. As our monthly mortgage is about 2.5k.
May I know which one would be a better option? My concern of paying monthly mortgage all by CPF is when selling the EC we will need to pay back CPF the accrued interest.
Thanks a lot in advance