RECENTLY, a social media advertisement suggested that eligible contributors to the Employees Provident Fund (EPF) can take out loans offered by the federal statutory body.
The advertisement claims that those who are eligible to withdraw their EPF savings in the next two years could apply for a loan from the EPF instead of a bank.
It also claims that there is no upfront fee and that borrowers need only an EPF statement to qualify for the loan.
Is this true?
VERDICT:
FALSE
EPF's official Facebook page stated that the information was not true and warned the public not to be deceived by such misleading information.
It urged the public to visit the EPF website at www.kwsp.gov.my or its official social media pages for any inquiries about the fund.
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