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-   -   HELP! Downpayment - NETS/Cashier’s order instead of AHG/SHG (https://forums.hardwarezone.com.sg/homeseekers-homemakers-74/help-downpayment-nets-cashier-s-order-instead-ahg-shg-5983842.html)

Eanony 31-01-2019 05:49 PM

HELP! Downpayment - NETS/Cashier’s order instead of AHG/SHG
 
Dear HWZers as per the above title, can BTO downpayment be made via NETS/Cashier’s order instead of using CPF grant?

We will like to reserve the grant amount (and receive interest over the next few years) for deduction during key collection.

Did anyone manage to do so? I’m receving mixed answers from HDB and can’t seem to reach them with the LOA appt nearing.

TIA!

dnsfpl 31-01-2019 06:00 PM

since you plan to use cash

why no consider bank loan, lower rates

Eanony 31-01-2019 06:44 PM

understand mate but its not about the loan..

MortgageSingapore 31-01-2019 06:53 PM

Why don't you ownself top up your cpf with your cash to earn the interest then?

Iamafan 31-01-2019 07:23 PM

Pure cash? You money-laundering is it hahaah want to get rid of hard cash so quickly?

Iamafan 31-01-2019 07:24 PM

Anything just call the hdb hotline. Their staff is very helpful

Eanony 31-01-2019 07:25 PM

Quote:

Originally Posted by MortgageSingapore (Post 118944651)
Why don't you ownself top up your cpf with your cash to earn the interest then?

same sentiment at first but..

Voluntary Contribution cannot be made to CPF-OA only as it will be distributed between OA, MA, and SA, according to the CPF allocation chart.

Eanony 31-01-2019 07:29 PM

Quote:

Originally Posted by Iamafan (Post 118945130)
Anything just call the hdb hotline. Their staff is very helpful

Unfortunately they aren’t very sure about this one. Dropped them an email and am awaiting response.

punkster 04-02-2019 11:58 AM

My understanding is cannot especially if you taking hdb loan. Need to wipe out OA amount before loan will be disbursed

kiatme 04-02-2019 06:30 PM

I don't quite understand...

The grant is used to offset the fees to pay to the house, i don't think they will allow the grant to be left inside your CPF to grow interest until key collection to pay for the house.

You should still be able to make your downpayment with cash.

Alphas 05-02-2019 03:35 PM

Can park inside in CPF financial product, except for the first 20k.

wira 05-02-2019 06:36 PM

Quote:

Originally Posted by Eanony (Post 118943613)
Dear HWZers as per the above title, can BTO downpayment be made via NETS/Cashierís order instead of using CPF grant?

We will like to reserve the grant amount (and receive interest over the next few years) for deduction during key collection.

Did anyone manage to do so? Iím receving mixed answers from HDB and canít seem to reach them with the LOA appt nearing.

TIA!

Huh ? Why not just use the grant to pay down payment and use the cash to invest in high grade corporate bonds that can get you 3% probably ?


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