Yes

If you have a provident fund, you can use your provident fund to get a loan directly from the bank. However, housing provident fund loans can only be used to purchase, build, renovate, and overhaul self-owned housing. Only those who need money under these circumstances can apply for housing provident fund loans. In addition, providing funds for consumption, business, stock trading, futures trading, securities trading, etc. are not allowed to be used for loans.