First of all, answer your question: the provident fund can be used to repay loans. When you go to the bank to apply for a provident fund loan, the bank staff will explain it to you in detail. On our side, just like credit card repayment, we usually deduct money from your bank card to make a loan on time every month.

The process goes something like this:

1, the banks that cooperate with the provident fund are different in each region, and the real estate will tell you which bank it is when lending.

2. You must have a bank card of the provident fund cooperative bank.

3. Choose repayment method, average capital or equal principal and interest.

4. Submit the household registration book, ID card, house purchase contract and other materials to the provident fund and the corresponding bank.

5. After the loan application is approved, the monthly repayment amount will be stored in the card, and the system will automatically deduct the corresponding amount on the repayment date.

It turns out that when the provident fund loan was still loose a few years ago, it was directly transferred from your provident fund account, and so was my colleague. But now that bank credit is tight, I applied for a portfolio loan. Deduct money from the bank card, but you can withdraw the deposit from the provident fund every six months to deduct your repayment.

Let's talk about the current repayment method of my personal provident fund. I have a suite to apply for a pure provident fund loan with a maximum term of 20 years and an interest rate of almost 3.25%. At first, I chose automatic monthly deduction (monthly or annual manual withdrawal). The amount to be repaid each month will be transferred from the provident fund account to the bank card account of 12, and the bank will automatically deduct the money on the 8th of the following month. Because my personal company's monthly payment is far greater than the monthly mortgage payment, I basically don't need extra money, which is very convenient. There is still a deadline of nearly 20 days, and occasionally you can temporarily misappropriate or do small financial management, as long as you supplement it two or three days before the repayment date, hehe! In addition, after one year of repayment, if you want to repay in advance and the balance of the provident fund account is large, you can apply and deduct it directly after approval.