Buying a house with housing provident fund is not cheap, but you can enjoy certain discounts by using provident fund loans to buy a house. At present, the interest rate for provident fund loans for more than five years is 3.75, and the interest rate for provident fund loans for five years and less is 3.25, and the interest rates for provident fund loans are basically the same across the country.

The housing provident fund refers to the deposits made by state agencies, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions, private non-enterprise units, social groups and their employees. of long-term housing savings.

The definition of housing provident fund includes the following five aspects:

(1) Housing provident fund is only established in cities and towns, and no housing provident fund system is established in rural areas.

(2) The housing provident fund system is established only for current employees. The housing provident fund system is not applicable to unemployed urban residents and retired employees.

(3) The housing provident fund consists of two parts, one part is paid by the employee's unit, and the other part is paid by the employee personally. After the employee's personal contribution is withheld by the unit, it is deposited into the housing provident fund's personal account together with the unit's contribution.

(4) The long-term nature of housing provident fund deposits. Once the housing provident fund system is established, employees must make uninterrupted contributions in accordance with the regulations while on the job. Except for the employee's retirement or other circumstances stipulated in the "Housing Provident Fund Management Regulations", it shall not be suspended or interrupted. It reflects the stability, uniformity, standardization and mandatory nature of the housing provident fund.

(5) The housing provident fund is a personal housing savings deposited by employees in accordance with regulations and used exclusively for housing consumption expenditures