Should You Withdraw Your EPF For Financing House Purchase

One may choose to withdraw a corpus of savings put into his PF account to serve a variety of purposes besides purchasing a new house such as funding your children’s education, managing your child’s wedding expenses, emergency medical treatment or repayment of your ongoing home loans and many more. But, before making a withdrawal from your EPF account one should be well aware of its benefit and consequences. It should be a planned and a well-thought decision to avail the facility during the entire service tenure. If you are eligible to make a withdrawal from your EPF account to finance your house purchase, it would also lead you to save a few percent interests on your purchase. But, before you finally make a decision to withdraw your savings out of a PF account, you should always compare the following things like rate of interest offered by the lender or rate of interest earned in EPFO plus amount of saved tax. In case if you face any doubt regarding EPF or EPF withdrawal, a member may also look for information and procedure describing how to withdraw out of your EPF account to buy a house.