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The "one gold" in the "five insurances and one gold" refers to the housing provident fund, with the highest payment amount. China's provident fund system is based on 1994. Up to now, 1 100 million employees have solved the housing problem by using the housing provident fund. Of course, this is a new system, and some problems have gradually emerged in the process of implementation, among which the deposit ratio, value preservation and appreciation, and transparent management are the most concerned by the society.
What is the function of housing provident fund?
Use 1. Buying a house by loan is the most common use of provident fund. Many people choose to use provident fund loans to buy houses, mainly because the interest rate of provident fund loans is relatively low, far lower than that of commercial loans;
Use 2. Withdraw cash to buy a house If you don't use the provident fund loan to buy a house, you can withdraw the money from the provident fund as the down payment of the house. If you don't buy a house, you can also withdraw the money from the provident fund at one time;
Third, the renovation and decoration of the house will cost a lot of money, and the provident fund can also play a great role at this time;
Use 4. It's used to pay rent. As long as you have paid the provident fund for three consecutive months, renters can apply for withdrawal of the provident fund.
Usage 5. Pay for serious illness medical expenses. This function may not be known to many people. When a person with a housing provident fund account suffers from a major disease, individuals and their families can withdraw the housing provident fund for disease treatment.