Housing accumulation fund refers to the long-term housing savings paid by state organs, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions, private non-enterprise units, social organizations and their employees.
The definition of housing provident fund includes the following five aspects:
(1) The housing accumulation fund is only established in cities and towns, and the housing accumulation fund system is not established in rural areas.
(2) Only on-the-job employees can establish the housing accumulation fund system. Unemployed urban residents and retired workers do not implement the housing provident fund system.
(3) The housing accumulation fund consists of two parts, one part is paid by the employee's unit, and the other part is paid by the employee. After the employee's individual deposit is withheld by the unit, it will be deposited into the individual account of the housing provident fund together with the unit deposit.
(4) The long-term nature of housing provident fund deposit. Once the housing provident fund system is established, employees must be paid continuously in accordance with the regulations during their employment, and shall not be suspended or interrupted except for employees' retirement or other circumstances stipulated in the Regulations on the Administration of Housing Provident Fund. It embodies the stability, unity, standardization and compulsion of housing provident fund.
(5) Housing accumulation fund is a personal housing savings fund specially used by employees for housing consumption expenditure, which has two characteristics of accumulation and specificity.
To apply for provident fund loans, the applicant must deposit the provident fund for 12 months continuously, and the deposit status of the provident fund is normal when applying for provident fund loans (loans overdue for more than 1 month will not be accepted). The maximum loan amount of commercial housing shall not exceed 70% of the total house price, and the maximum loan amount of second-hand housing shall not exceed 60% of the deed tax unit price. The formula for calculating the personal loan amount of provident fund: (the amount paid in the current month × the total number of months from the current retirement age+the current balance of the provident fund account) × 2; Legal retirement age: 55 for women; Male 60 years old. The longest loan period is 25 years. * Note (This formula is applicable to the direct calculation of users who purchase first-class buildings. For the secondary building, the specific loan amount can only be answered after the information is reviewed by the provident fund center, because the evaluation price, transaction price and deed tax price of the house should be taken into account. At present, the maximum amount of housing provident fund varies from place to place. Please consult the housing provident fund center where the house is purchased.