Public Provident Fund loans are generally approved within fifteen working days. When an active employee submits an application for a loan to purchase a house to the Housing Provident Fund Management Center, the center will accept the application and make a decision to grant or deny the loan within fifteen working days after acceptance.

Legal basis

Article 26 of the Regulations on the Management of Housing Provident Funds states that employees who have paid into a housing fund may apply to the housing fund management center for a housing fund loan to purchase, build, renovate, or overhaul their own homes. The Housing Provident Fund Management Center shall, within 15 days from the date of acceptance of the application, make a decision on granting or disallowing the loan and notify the applicant; if the loan is granted, the commissioned bank shall handle the loan formalities. The risk of housing provident fund loans is borne by the housing provident fund management center.

Warm tips

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