What are the tax-eligible uses of funds from a home savings scheme?

Acceptable uses of home savings scheme funds:

• Construction or purchase of a personal residence.
• Renovation, maintenance, or repair of an existing home.
• Acquisition of land to build a personal residence.
• Installation of solar panels or thermal systems integrated into the home.
• Repayment of loans related to the above purposes.

Not eligible:

• Buying cars or personal items.
• Financing secondary residences, rental properties, or commercial buildings.
• Using the funds more than 12 months after maturity (except in specific cases).

Updated on: 19/08/2025