We write to inform you that, following a revision of interest rate, the interest rate of the above account has been adjusted from 1.15%pa to 1.65% pa on a monthly rest basis with effect from 29th November 2013.
Accordingly, your revised loan installment is SGD****378.00 per month. Please note that this amount is next due on 15th January 2014.
With your acceptance of the letter of Authorization that was sent to you earlier, please be informed that the CPF Board will be apportioning your CPF savings towards the repayment of your monthly loan installments as follows:
- Where there is a decrease in the monthly installments, the CPF board would maintain the CPF portion such that the cash portion paid by you is reduced.
- Where there is an increase in the monthly installments, the CPF board would increase your CPF portion towards the repayment of the monthly installments such that the cash portion paid by you remains unchanged.