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Calculating a home loan with EPF dividend return in 2024
EPF return is better than settling home loan debt
My conclusion might sound contradictory to me. The EPF dividend return does come with some risk, although it is minimal IMO.
On the wake-up call on the EPF dividend announcement in the morning, I might want to cash out partially from my EPF account to reduce my home loan debt. People started to queue up at the KWSP Bayan Baru near Queensbay. EPF web server hogged our internet lines until the server refused to service queries, returning a 404 error. At a luckier time, the server could poll for another ~10 minutes in the queue until the web server is ready to pick up graciously. I regret owning more than one property, not to mention a bungalow like the one in the picture 😅 by WeirdKaya.
Home loan debt to whom? I have just blogged a sample calculation from my experience to service my loan debt.
In Malaysia, the maximum loan tenure is 35 years, or until the borrower reaches the age of 70 (whichever comes first). My new unit in the condo started construction in 2022 and was completed in 2024, and my age has exceeded the allowable limit for mandatory years.
# Number of years loan
>>> 70-2022+1974
22
