• CPF Housing Schemes

    The Central Provident Fund offers a choice of 3 different housing schemes that will allow you to use your CPF Savings for the purchase of your dream home. Depending on the house that you wish to purchase, you can choose the scheme that best suits your needs and requirements.

    You can use your CPF savings for the purchase of HDB (Housing and Development Board) flats, private properties or even helping your family keep your HDB flat from losing it on account of your death, Total Permanent Disability (TPD) or Terminal Illness (TI).

    Types of CPF Housing Schemes

    CPF offers its members the following options under Housing Schemes:

    • Public Housing Scheme
    • Private Properties Scheme
    • Home Protection Scheme

    Public Housing Scheme:

    Public Housing Scheme or PHS allows you to use the savings in your Ordinary Account (OA) when you want to purchase a new or a resale HDB flat. You can use PHS for the purchase of your HDB flat in different manners:

    • You can use your OA savings for the purchase of the whole house or pay a part of the purchase price.
    • You can use your OA savings for the payment of monthly instalments on the loan that you take for the purchase of your HDB flat.
    • You can use your OA savings to make payments on any and all costs relating to the purchase of your HDB flat such as legal fees, stamp duty, upgrading your home etc.

    Private Properties Scheme:

    The Private Properties Scheme or PPS offered by CPF allows you to use the savings in your Ordinary Account (OA) to purchase or even build the home of your dreams in Singapore either for you to occupy it or for investment purposes. You can use PPS for the purchase of your private property in different manners:

    • Pay for the private property in full using your OA savings.
    • Make monthly instalment payments on your housing loan that you take for the purchase of your private property.
    • Repay the housing loan in part or whole using your OA savings.
    • Make monthly instalment payments on the construction loan that you take for the purchase of the land and/or for construction on the land purchased to build your home.
    • Repay the construction loan in part or whole using your OA savings.
    • Make any and all payments relating to the purchase of your private property such as legal fees, stamp duty, survey fees, construction and/or refinancing of your home or any other cost pertaining to the purchase of the private property.

    Home Protection Scheme:

    By opting for the Home Protection Scheme or HPS offered by CPF, you can protect yourself and your family from losing your HDB flat in case of your death, Total Permanent Disability (TPD) or Terminal Illness (TI). The HPS is a mortgage reducing insurance that will protect you for up to 65 years of age OR until your housing loan has been repaid in full, whichever of the two occurs earlier.

    Buying a home is never an easy task for most of us simply because of the expenses involved. However, many of us do not like to compromise on our dream home, no matter what the cost. By using your CPF savings for the purchase of your HDB flat or your private property, you can reduce some of the financial burden when it comes to buying your home without having to compromise at the same time. Additionally, you can also use the HPS scheme to protect yourself and your family from never having to lose your dream home. 

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