Your Ordinary Account savings can be used to buy a home under the Central Provident Fund (CPF) housing schemes. You can buy an HDB flat under the Public Housing Scheme, or a private property under the Residential Properties Scheme. Your CPF savings can be used for full or partial payment of the property, and to service the monthly housing payments. If you buy a flat under the Public Housing Scheme, you will need to be insured under the Home Protection Scheme.
From 1 July 2006, the Board no longer approves applications under the Non-Residential Properties Scheme (NRPS). If you are currently using CPF to service your non-residential properties, you will not be affected by the policy change.