Last weekend, I wrote a guest post on the Data Science Investor's blog! You can read it via this link: https://www.datascienceinvestor.com/post/accrued-interest-the-unexpected-cost-of-using-cpf-to-pay-for-your-housing-loan
My partner and I plan to buy a HDB flat in the near future and I came across the concept of accrued interest while doing my research. While there are some blog articles that delve into what accrued interest is and how it has to be returned to your CPF from your sale proceeds, I could not find any resources specific to the calculation of accrued interest.
I wanted to do some projections to get an idea of exactly how much accrued interest my partner and I would have to pay for the purchase price that we're considering (less than $500,000). Unfortunately, there is no calculator for accrued interest available on the CPF website and the FAQ answer does not highlight exactly how the interest is calculated.
Do check out the post linked above for more details on this! Here's the link to the calculator that you can use to do your own projections
As always, you will need to make a copy of the spreadsheet before keying in your figures. If you have feedback on the calculator, I would love to hear from you! Feel free to leave a comment below or drop me an email at joceisfinfree@gmail.com :)