You Can Withdraw 90 Percent EPF to Buy Home, Pay EMI From Account

New Delhi: Over four crore subscribers of the retirement fund body EPFO can now make down payment and pay EMIs from their EPF accounts to buy homes.

The EPFO has amended the scheme by inserting a new paragraph -- 68 BD -- to the Employees' Provident Funds (EPF) Scheme, 1952, to enable a subscriber to make down payment to buy homes and pay EMIs through the EPF account, a senior official said.

The official said, "Since the labour ministry has issued a notification for the purpose, the scheme stands amended."

It also provides that monthly instalments for repayments of any outstanding payment or interest may also be paid from the amount to the government, housing agency, primary lending agency and banks concerned.

The facility will be available only once to every member during his or her lifetime.