New regulations on withdrawal of provident fund from commercial loans: After commercial loans need bank loans, borrowers can only apply for withdrawal of provident fund after completing one-time repayment, and the balance of one-time withdrawal of provident fund account cannot exceed the total principal and interest of commercial loans. The funds withdrawn must be used to repay the monthly payment of commercial mortgages and cannot be used for other purposes. Commercial loans need to provide personal valid identity documents, mortgage loan contracts, repayment certificates, provident fund cards and other information.

legal ground

Article 25 of the Regulations on the Management of Housing Provident Fund

If the employee withdraws the balance stored in the housing provident fund account, it shall be verified by the unit where he works and a certificate of withdrawal shall be issued.

Workers apply to the housing provident fund management center for withdrawal of housing provident fund with the withdrawal certificate. The housing provident fund management center shall, within 3 days from the date of accepting the application, make a decision on whether to approve or disapprove the withdrawal, and notify the applicant; If the withdrawal is approved, the entrusted bank shall go through the payment procedures.