Hi Mr Tan
I have taken up the combined fund from NTUC Income. I am now investing a part of my monthly earnings.
I want to know. If I need money to pay for my car or flat, can I withdraw from the combined fund? Are they any penalty?
You can withdraw from the combined fund based on its bid price. There is no penalty.
However, when you invest in the combined fund, you have to pay at the offer price, which is 3.5% higher. This cost is already deducted upfront.
If possible, try to avoid withdrawal and re-investment, as you have incurred unnecessary cost. It may be better for you to take a higher loan and to make a higher repayment (including a temporary cessation of your savings into the combined fund.
You can read this FAQ on Financial Planning for the Young.
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