The balance of the provident fund can be deducted directly from the mortgage repayment. Generally speaking, the balance of provident fund is repaid by deducting mortgage on a monthly basis. When the balance of the provident fund cannot be deducted from the mortgage, it will be deducted from the repayment bank account bound by the user. In addition to directly deducting the mortgage, the provident fund can also directly withdraw the balance of the provident fund to repay the loan.

Is there any requirement for the balance of provident fund account when buying a house with provident fund loan?

There is no clear stipulation on the balance of the applicant's provident fund account when purchasing a house with provident fund loans. The main requirements are that the user must pay the housing provident fund in full and on time for six months or more, the provident fund account is in a normal state of payment, and the provident fund loan has not been handled in his name or the loan has been settled (if he has done it twice, he can't apply for the provident fund loan again, whether it is settled or not).

As long as the user meets the above requirements, has a fixed legal income, has the ability to repay the principal and interest of the loan on time, and maintains a good personal credit, and there is no bad credit record in the credit report, then the loan can generally be successfully handled. Naturally, the more the balance of the user's provident fund account, the higher the loanable amount. Regarding the relationship between the loan amount of provident fund and the balance of provident fund, there are different requirements all over the country.

What if the provident fund is broken?

If the provident fund is paid off after the loan repayment business, and if there is a balance in the account, it will not be affected for the time being, the system will still automatically deduct money from it to repay the loan until the balance in the provident fund account is less than 100 RMB (specifically subject to the regulations of the local housing provident fund management center).

Legal basis:

Regulations on the administration of housing provident fund

Article 16

The monthly deposit amount of employee housing provident fund is the average monthly salary of employees in the previous year multiplied by the deposit ratio of employee housing provident fund. The monthly deposit amount of housing provident fund paid by the unit for employees is the average monthly salary of employees in the previous year multiplied by the proportion of housing provident fund paid by the unit.

Article 18

The deposit ratio of employees and unit housing provident fund shall not be less than 5% of the average monthly salary of employees in the previous year; Conditional cities can appropriately increase the deposit ratio. The specific deposit ratio shall be drawn up by the Housing Provident Fund Management Committee and submitted to the people's governments of provinces, autonomous regions and municipalities directly under the Central Government for approval after being audited by the people's governments at the corresponding levels.