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Financial news: EPF’s Account 2 Support Facility is super popular

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Financial news: EPF’s Account 2 Support Facility is super popular

No withdrawal and it’s final. However, EPF Account 2 can be used as collateral

This was the news about the request for another round of EPF withdrawal due to effects from Covid-19. EPF savings as collaterals but no withdrawals The government was very firm and Prime Minister Datuk Seri Anwar Ibrahim later said that eventhough further withdrawal is not allowed, it is possible for the EPF members who needs the funds for emergency purpose to use the EPF account 2 as collateral for loans. This was the news: EPF Account 2 can be used as loan collateral Yes, topics concerning EPF is always followed very closely by If you like to continue receiveing this news as and when it happens, sign up for free here.

Article in A total of 59,230 contributors have applied for the Employees Provident Fund’s (EPF) Account 2 Support Facility (FSA2) as of yesterday since it opened on April 7, with only 27,705 eligible. This was shared by Deputy Finance Minister Datuk Seri Ahmad Maslan.

He said, “Those who are not eligible are because they are under 40 years old. Only those aged 40 and above are eligible for this facility.”

So far, two banks are participating in it — MBSB Bank Bhd and Bank Simpanan Nasional. FSA2 involves a maximum financing of RM50,000 (subject to an EPF contributor’s Account 2 balance) and a repayment period of up to 10 years. Among the stipulated conditions is that the applicant must have a minimum amount of RM3,000 in his Account 2. Please do read here for the full article eith more details: Article in

Apply wisely. Apply only for emergency.

There are many reasons for the application as we could see from the article above. There are many reasons which are NOT categorised as emergency. If not doing it (the expense) will not cause adverse harm (really emergency kind of harm), it’s best not to apply for this and having to pay for it later. Debts, just like interest rate may grow bigger. Our income meanwhile would not be forever and may become nothing once we stop working. Do we believe we could have saved more than enough by then? If not, then why are we trying to spend future money today?

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.


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