For Singaporeans, getting part of their paycheck deducted into their CPF accounts is a ubiquitous part of life. However, these deductions can be used to pay for a variety of things, ranging from home purchases to medical care and ultimately, your retirement. However, you can use your CPF accounts to pay for more than just your HDB down payment and retirement needs. You can also use your CPF Ordinary and MediSave accounts to cover other smaller, but equally important purchases including various home purchase fees, vaccinations and investments.
1. Use CPF Ordinary to Pay for Stamp Duty and Legal Fees
While it's common knowledge that you can use your CPF Ordinary Account to fund your HDB flat purchase, did you know that you can also use your CPF OA to cover the miscellaneous costs of home purchasing? Stamp duties and legal fees (e.g. conveyancing fees) are two additional expenses you'll be able to cover using your CPF monies....
