Generally speaking, the provisions on the service life of provident fund loans are as follows: the longest service life of housing provident fund loans for purchasing affordable housing, commercial housing and fund-raising cooperative housing is 30 years. The longest service life of provident fund loans for the construction, renovation and overhaul of self-occupied housing is 20 years. Generally, the loan period for the applicant to use the provident fund does not exceed the statutory retirement age of 5 years.
Legal objectivity:
Regulations on the administration of housing provident fund
Article 24
In any of the following circumstances, employees can withdraw the storage balance in the employee housing provident fund account:
Purchase, construction, renovation and overhaul of owner-occupied housing;
Rent exceeds the prescribed proportion of family wage income.
In accordance with the provisions of items (2), (3) and (4) of the preceding paragraph, the employee housing provident fund account shall be cancelled at the same time. If an employee dies or is declared dead, the employee's heirs and legatees may withdraw the storage balance in the employee's housing provident fund account;
If there is no heir or legatee, the storage balance in the employee housing provident fund account will be included in the value-added income of the housing provident fund.
Regulations on the administration of housing provident fund
Article 25
If the employee withdraws the storage balance in the housing provident fund account, it shall be verified by the unit where he works and a certificate of withdrawal shall be issued.
Workers apply to the housing provident fund management center for withdrawal of housing provident fund with the withdrawal certificate. The housing provident fund management center shall, within 3 days from the date of accepting the application, make a decision on whether to approve or not to withdraw, and notify the applicant;
If the withdrawal is approved, the entrusted bank shall go through the payment procedures.
Regulations on the administration of housing provident fund
Article 24
In any of the following circumstances, employees can withdraw the storage balance in the employee housing provident fund account:
Purchase, construction, renovation and overhaul of owner-occupied housing;
Rent exceeds the prescribed proportion of family wage income.
In accordance with the provisions of items (2), (3) and (4) of the preceding paragraph, the employee housing provident fund account shall be cancelled at the same time. If an employee dies or is declared dead, the employee's heirs and legatees may withdraw the storage balance in the employee's housing provident fund account;
If there is no heir or legatee, the storage balance in the employee housing provident fund account will be included in the value-added income of the housing provident fund.
Regulations on the administration of housing provident fund
Article 25
If the employee withdraws the storage balance in the housing provident fund account, it shall be verified by the unit where he works and a certificate of withdrawal shall be issued.
Workers apply to the housing provident fund management center for withdrawal of housing provident fund with the withdrawal certificate. The housing provident fund management center shall, within 3 days from the date of accepting the application, make a decision on whether to approve or not to withdraw, and notify the applicant;
If the withdrawal is approved, the entrusted bank shall go through the payment procedures.