Employees who work within the formal system in Mexico and contribute to the institutions, however, on some occasions, these users prefer not to use their tools to purchase a home, but they already have some and prefer liquidity, but the question is: Is it possible, can I withdraw my money from the Infonavit account? Here we will explain to you.
The Institute of the National Housing Fund for Workers (Infonavit) offers beneficiaries the possibility of using the resources accumulated in the individual account in order to acquire a home through a mortgage credit, However, some employees may wonder if it is possible to withdraw the money accumulated in the Infonavit account in case they do not wish to use it to obtain a mortgage loan.
Although Infonavit mainly offers mortgage loans for the purchase of housing, members have the option of withdraw funds accumulated in your individual account in certain circumstances.
Reasons to withdraw your money without acquiring an Infonavit credit:
- Retirement: Workers who retire have the right to withdraw the balance accumulated in their Infonavit account to use it as best suits them. This withdrawal can be made in a single payment or in periodic payments, as the worker prefers.
- Settlement of the Housing Subaccount: If a worker does not use his Infonavit mortgage loan and meets certain requirements, such as being at least 60 years old or being unemployed for more than 6 months, he can request the liquidation of his Housing Subaccount. This process involves withdrawing the balance accumulated in the Housing Subaccount to use it as the worker considers necessary, whether to buy a home without using an Infonavit credit, make improvements to their home or for other purposes permitted by law.
However, it is important that you know that withdraw the funds accumulated in Infonavit, could generate tax and financial implications for you. Likewise, the conditions and requirements for withdrawing funds may vary depending on the particular case of each employee and the Institute's policies in force at the time of making the request.
If a worker does not wish to use a Infonavit mortgage loan To purchase a home, you have the option to withdraw the funds accumulated in your individual account under certain circumstances, such as retirement or the liquidation of the Housing Subaccount. However, it is important to carefully evaluate the implications and requirements before making a decision, and if in doubt, consult directly with Infonavit to obtain appropriate advice.
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