Singapore Provident Fund Fund Instructions

Singapore Provident Fund Fund Instructions

The Central Provident Fund (CPF) is a compulsory savings scheme in Singapore for the working population, which includes both Singapore citizens and permanent residents, aimed at meeting their retirement, healthcare, and housing needs. The CPF is managed by the Central Provident Fund Board (CPFB), which is under the Ministry of Manpower (MOM).

Using your CPF savings to purchase a property under the Housing Scheme allows you to buy a home  within your budget and take the right mortgage repayment strategy so that you can retain savings in your Ordinary Account (OA) for your retirement.

   CPF Website

What can you do with your OA savings when buying a home?

Your OA savings can be used to purchase HDB flats, condominium units or to buy or build private and residential properties in Singapore.

Your OA savings can also be used to pay for down payments and housing loans for:

●Down payments and housing loans for property purchases,
●Stamp duty and legal fees,
●Loans for building houses and purchasing vacant land (only for landed properties), and
●Family Protection Scheme premiums (only for HDB flats).


Check if you meet the eligibility criteria on the HDB website.Additionally, verify CPF Private Property Scheme (PPS) criteria if you are purchasing private residential properties.

Balance OA savings with cash usage.

Although your OA savings can help you pay for housing expenses, remember that they are also intended for your future retirement needs.



Use a combination of cash and OA savings to pay for your housing expenses, so you can keep some money in your OA account to earn attractive interest rates. Your OA savings can also serve as a safety net for your housing payments and ensures long-term financial security.



Therefore, it is very important to find a balance between using cash and OA savings to manage for housing expenses effectively..