How To Check Your Outstanding Home Loan, CPF Refund and Accrued Interest Owed

Selling your home is one of the most exciting yet daunting experiences you’ll undertake in life, maybe apart from getting married or having a baby. There’s so much pressure to sell at the right price — or higher, even — so you can get enough cash proceeds from your sale to buy your next home. 

We break down the entire cash proceeds calculation for you in this article. But to recap, you’ll have to take a look at these factors:

1. Sale price of your home
2. Outstanding home loan
3. CPF refund + Accrued interest
4. Property agent fee
5. Legal fee
6. HDB resale fee

In this article, we’ll be zooming in on the 2nd and 3rd points:

• How to check your outstanding home loan balance
• How much you’ll have to refund to your CPF Ordinary Account (OA)
• How much is your accrued interest 

How to Check Your Outstanding Home Loan Balance 

If you took a bank loan

You can make an inquiry with your mortgage provider on your outstanding home loan balance or use your respective bank’s iBanking or digibank mobile app. 

If you took a HDB housing loan

You can follow the following steps to check your outstanding home loan balance.

Step 1: Log in to Singpass. 

Step 2: Click on the ‘Property’ icon under ‘My Profile’.

Step 3: Scroll down to ‘HDB Loan Details’ and look for ‘Outstanding Loan Balance’.

Step 4: Click on the ‘View’ icon in the top right corner to show the Outstanding Loan Balance.

How to Check Your CPF Refund & Accrued Interest Amount

So the CPF refund is actually called the ‘Principal Withdrawal Amount’, which refers to the amount of CPF monies you’ve used up for the purchase of your HDB flat. This amount will have to be returned to your CPF OA upon the sale of your flat.

Similarly, the accrued interest will also have to be returned to your CPF OA. It is the interest that the principal amount would have earned if it remained in your CPF Ordinary Account instead of being used for the purchase of your HDB flat.  

So here are the steps to find this information:

Step 1: Log in to Singpass.

Step 2: Click on the ‘Finance’ icon under ‘My Profile’.

Step 3: Scroll down to ‘CPF Housing Withdrawal’ and look for ‘Principal Withdrawal’ and ‘Accrued Interest Amount’.

Step 4: Click on the ‘View’ icon in the top right corner to unhide both figures.

Now that you know three important parts of calculating your cash proceeds, selling high doesn’t need to be so pressurising anymore.

With your home valuation, which you can get with Ohymhome for free (click here), and the steps to calculate your cash proceeds, you’re better equipped to price your home.

Again, you can follow our step-by-step calculation here to check how much you’ll actually receive at the end of your home sale. Or you can let us do it for you. 

Reach out to any of our Super Agents via WhatsApp or drop us a message on our Live Chat at the bottom, right-hand corner of the screen.