The key benefit of having your savings in CPF is the interest given. Albert Einstein famously once said
“Compound interest is the eighth wonder of the world.
He who understands it, earns it. He who doesn’t, pays it.” CPF is essential as it can be used to help fund retirement, healthcare, and housing needs for Singaporeans and Permanent Residents(PR).
#1 You can choose to keep the first $20K in your CPF OA if you are taking a HDB loan Do you know what percentage of downpayment you have to pay when taking a HDB loan? HDB Concessionary Loan has a maximum LTV of 90%. The amount you can borrow to finance your home is called Loan-To- Value...