Provident funds can be used to buy houses in different places, but certain conditions must be met. After paying the provident fund at the place of deposit, employees who purchase self-occupied housing at the place of residence can apply for provident fund loans to the provident fund management center at the place of loan with the certificate of deposit of the provident fund. The loan conditions include: 1, having a local account or valid residence status; 2. Deposited the provident fund normally for more than one year in a row, but did not withdraw the down payment and had no loan balance; 3. There is a house purchase contract, and the down payment is not less than 30% of the house price; 4. Have a stable occupation and income and good credit; 5. Having approved mortgaged assets or guarantors; 6, other conditions stipulated by the provident fund center. The withdrawal of provident fund is applicable to the purchase of houses, retirement, loss of working ability, leaving the country to settle down, repayment of loan principal and interest, and rent exceeding the income ratio. The provident fund management center cooperates with designated banks and is responsible for loans, settlement and other businesses. Workers withdraw the provident fund, the unit verifies and issues a certificate, and the management center decides whether to approve the withdrawal within 3 days.

Scope of use of provident fund:

1. Buying a house: the provident fund can be used to buy a new house or a second-hand house;

2. Housing construction, renovation and overhaul: the provident fund can be used for self-built housing or renovation and overhaul of existing housing;

3. Repaying the principal and interest of housing loans: the provident fund can be used to repay the principal and interest of individual housing loans;

4. Renting: Some cities can use the provident fund to pay for renting;

5. Retirement withdrawal: eligible employees can withdraw the balance of the provident fund at one time when they retire;

6. Buying a house in a different place: employees can also apply for the use of provident fund when buying a house in a non-registered place;

7. Other designated purposes: According to the regulations of the local provident fund management center, there may be other purposes.

To sum up, the provident fund is not limited to buying a house at the place of deposit. Employees can apply for provident fund loans at their place of residence after meeting the conditions including local household registration or living conditions, continuous deposit records, down payment ratio, stable income, good credit and necessary mortgage or guarantee. At the same time, withdrawing provident fund is suitable for many situations, such as buying a house and retiring. The provident fund management center will cooperate with the bank to handle relevant business to ensure that employees know whether the withdrawal application is approved within 3 days.

Legal basis:

Regulations on the administration of housing provident fund

Article 24

Under any of the following circumstances, employees can withdraw the storage balance in the employee housing provident fund account: (1) purchasing, building, renovating or overhauling their own houses; (2) retirement; (three) completely lose the ability to work, and terminate the labor relationship with the unit; (4) Having left the country to settle down; (5) Repaying the principal and interest of the house purchase loan; (six) the 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 shall be included in the value-added income of the housing provident fund.