KWSP i sinar EPF Withdrawal

KWSP i sinar : i-SINAR ENABLES 2 MILLION AFFECTED MEMBERS ACCESS TO ACCOUNT 1

KWSP i sinar EPF Withdrawal Maximum first advance ranges between RM4,000 to RM10,000

KUALA LUMPUR, 16 November 2020: The Employees Provident Fund (EPF) announces the details and requirements of access to Account 1 under the i-Sinar facility.

After a thorough study and assessment, the EPF has taken the step to widen the scope of i-Sinar to cover active members who have lost their jobs, given no-pay leave, or have no other source of income. i-Sinar will now benefit 2 million eligible members and result in a total estimated value of RM14 billion to be made available.

Eligible members can start applying from December 2020. Funds will be credited into members’ bank accounts by the end of the month following their i-Sinar application. First crediting will take place in January 2021. Advances will be made over a period of six (6) months from the first date of crediting.

Generally, eligible members will have access to 10% of their savings in Account 1, subject to always having a minimum balance of RM100:

For those who have RM90,000 and below (Account 1), they have access to any amount up to RM9,000. The amount advanced will be staggered over a period of six (6) months with an increased first advance of up to RM4,000.

For those who have above RM90,000 (Account 1), they have access of up to 10% of their Account 1 savings. However, the maximum total amount allowed to be advanced is RM60,000. The amount advanced will be staggered over a period of six (6) months with an increased first advance of up to RM10,000.