When will CPF start to deduct from OA and when will HDB start to deduct from HDB loan?

When purchasing an HDB flat, here is when CPF deductions and HDB loan deductions typically start:

CPF Deductions

• CPF deductions from your Ordinary Account (OA) will begin once you have signed the Agreement for Lease and the HDB has approved your loan application.
• These deductions will be made monthly, along with your mortgage repayments, as long as you have sufficient funds in your OA.

HDB Loan Deductions

• For an HDB loan, the deductions will start after the loan is disbursed and the Agreement for Lease is signed.
• The monthly mortgage payments, which can include both cash and CPF OA deductions, will commence from the first month after the loan is approved and disbursed.

Key Collection and Final Payment

• The balance of the purchase price, after the downpayment, will be paid during the key collection stage. This can be covered by the HDB loan, and the monthly deductions will continue thereafter.

In summary, both CPF deductions and HDB loan deductions start after the Agreement for Lease is signed and the loan is approved, with the monthly payments commencing from the first month of the loan disbursement. You can find more detailed information and updates on the HDB website or through EdgeProp Singapore.