Nearly 60,000 apply for EPF facility to support bank loans FMTNews
PUTRAJAYA: A total of 59,230 contributors have applied for EPF’s Account 2 Support Facility as of yesterday since it opened on April 7, with only 27,705 found to be eligible, said deputy finance minister Ahmad Maslan.
FSA2 aims to help EPF members obtain personal financing from banking institutions. So far, two banks are participating in FSA2, namely MBSB and Bank Simpanan Nasional .An applicant is required to have a minimum amount of RM3,000 in EPF Account 2. He explained that EPF withdrawals were only allowed for housing, education, health, certain protection plans such as for chronic illnesses and a maximum of RM3,000 to cover haj cost.
Titiwangsa MP Johari Ghani was previously reported to have said that it would be easier to allow people to withdraw their EPF savings than to use them to support loan applications.
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