On 16 November 2020, the Employees Provident Fund (EPF) issued a press release stating that eligible members can start applying under the i-Sinar scheme from December 2020 onwards, to access 10% of their savings in Account 1. These funds will be credited into the respective members' bank accounts by the end of the month, following their i-Sinar application. The first crediting will be in January 2021. Advances will be made over a period of 6 months from the first date of credit.
Generally, eligible members will have access to 10% of their savings in Account 1, subject to always having a minimum balance of RM100 in the said Account:
|a.||Account 1 with RM90,000 and below - members will have access to any amount up to RM9,000. The amount advanced will be staggered over a period of six (6) months with an increased first advance of up to RM4,000.|
|b.||Account 1 above RM90,000 - members will have access of up to 10% of their Account 1 savings. However, the maximum total amount allowed to be advanced is RM60,000. The amount advanced will be staggered over a period of six (6) months with an increased first advance of up to RM10,000.|
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