Provident fund loan refers to individual housing provident fund loan, which is a mortgage loan that is paid by local housing provident fund management centers using the housing provident fund paid by employees who apply for provident fund loans, and entrusted by commercial banks to the housing provident fund depositors who purchase, build, renovate or overhaul their own houses and the retired employees who paid the housing provident fund during their employment. According to the regulations, employees who have paid the housing provident fund for a certain period of time or more (the period varies from city to city, such as Changsha exceeding 12 months) can apply for provident fund loans when the funds for purchasing, building, renovating or overhauling their own houses are insufficient.

The loan conditions are: the employees of the unit have signed a labor contract for more than three years (or signed a 1 year labor contract for three consecutive years), paid the housing accumulation fund for a certain number of years, and did not exceed the statutory retirement age. The borrower has a stable income and the ability to repay the principal and interest. The borrower agrees to handle the mortgage registration and insurance, provide the guarantee method agreed by the local housing fund management center and its sub-centers, and submit the relevant documents required by the bank, such as the house purchase contract or the house pre-sale contract.