Withdraw EPF Housing Loan Installment – Requirements & Conditions

EPF Housing Loan Installment December 2018 – This new rule of EPFO is for your home. As per the facility provided by the Employees Provident Fund Organization (EPFO), you can take a loan in 90% of the amount deposited in your account and can use the contribution accumulated in the account as a loan instalment every month.

Updated – December 2018

EPFO Regional Commissioner Manoj Kumar Yadav shared this information with Amarujala News. He told that under the new rules of EPFO, at least ten buyers should together constitute a co-operative society. After this, it will be easier for them to buy a house. Now you can buy a home, buy a home or buy a house for a home, to withdraw money from a PF account.

EPF Housing Loan Installment

To purchase the land, you can withdraw 90 percent of the amount deposited in your PF account. For example, if you have to buy a house, then you can take a loan through HUDCO. 90% contribution to your account (EPF) will be done as a down payment. After this, the contribution accumulated in the PF account every month will become part of your monthly loan instalment.

For example, if your contribution accumulates Rs 3000 and your loan installment is Rs 5 lakh, you will have to pay only two thousand rupees per month. The remaining money will be adjusted directly from the PF account. With this, it will be easy to take the home loan and a subsidy of 2.20 lakh will also be available. This home scheme of PF is better for those with the monthly salary of 10 to 25 thousand rupees.

Requirements & Conditions

  • PP shareholders should be at least three years old in the EPFO.
  • PF account should have a balance of at least 20 thousand rupees.
  • To make a house, it is necessary to be a member of a registered society related to housing.
  • You can take advantage of this facility to buy houses or plots.
  • The property being sold by a government or private institution can also buy from it.
  • The entire payment will be done directly to the agency concerned.
  • The benefit of this scheme can also be taken under the Prime Minister’s Housing Scheme.
  • The beneficiaries of the Prime Minister’s Housing Scheme will get a subsidy of up to 2.20 lakh under the Credit-Linked Subsidy Scheme (CLSS) from Hooda.

The Government added a new provision in paragraph 68 BD of EPF scheme, 1952. Under this, the implementation can now fulfil the dream of the house with the help of its fund. This information can be obtained by visiting the EPFO office.

-Monoj Kumar Yadav, Regional Commissioner, EPFO



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