What happens to my money when I redeem my CPF portfolio? (SG)
Updated
After a CPF redemption order has been confirmed, you should expect to receive the proceeds in approximately 5-7 business days, on a best-effort basis on a valid business day.
For CPF OA redemptions, the redemption proceeds will be transferred to your CPF Investment Account (CPF IA). The agent bank of your CPF IA will automatically transfer the cash balance from your CPF IA to your CPF OA if you have not had any transactions for 2 consecutive months. Alternatively, you can request that the agent bank transfer the funds back to your CPF OA at any time.
For CPF SA redemptions, the redemption proceeds will be transferred to your CPF SA.
How do redemptions work?
If you confirm your redemption order before 8:30 AM on a business day, we will endeavour to send your order to UOB Kay Hian, our partner broker, for execution within the same day (T). If your order is confirmed after the cut-off time, it will generally be sent to UOB Kay Hian the following business day.
Are there any redemption fees or penalties?
Endowus does not charge any transaction fees or penalties for redemptions.