How long does it take to disburse a provident fund loan?

When buying a house, many people like to use provident fund loans to buy a house. This not only saves money, but also disburses money very quickly. So how long does it take for provident fund loans to be disbursed? What are the conditions for a housing provident fund loan? Let’s take a look with the editor below!

How long does it take to disburse a provident fund loan:

The disbursement time of a provident fund loan takes about 18-19 working days, including 1 day for loan application, 2 days for preliminary review, and 1 day for review 2 days for both parties to sign the loan contract, 7 days for the guarantee and mortgage procedures, 2 days for the bank to submit the information to the Housing Provident Fund Management Center, and 3 days for the Provident Fund Management Center to review and approve the loan information.

What are the requirements for a housing provident fund loan:

1. Although you can apply for a provident fund loan as long as you have paid the housing provident fund, there are certain differences in loan policies and payment times in various regions. It's best to judge based on local policies.

2. If one spouse applies for a provident fund loan and the loan has not been repaid, the couple cannot apply for a provident fund loan again.

3. Applicants must have a stable job and income, and have a certain ability and willingness to repay.

4. If you need to apply for a commercial loan and a provident fund combination loan, the length of the two loans must be the same.

5. The applicant has the ability to pay the down payment for the house.

What is the housing provident fund loan process:

1. The applicant must first prepare the information, and then go to the provident fund management center and the bank to apply for a loan.

2. The management center will conduct a preliminary review of the applicant's information, and will transfer the information to the bank after passing the preliminary review.

3. The bank will review the application and notify the applicant to sign a loan contract and a housing mortgage contract after passing the review.

4. The applicant goes to the Housing Authority to obtain the real estate certificate.

5. The applicant brings the real estate certificate to the management center to issue a "Loan Notice".

6. The applicant brings the loan notice and real estate certificate to the bank to go through the loan procedures.

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Usually about 1 month. Provident Fund loan application process:

1. When applying for a housing provident fund loan, a lender must submit a written application to the bank, fill in the housing provident fund loan application form and truthfully provide the following information:

(1) Application Proof of housing provident fund payment for the person and his or her spouse;

(2) Identity certificate of the applicant and his or her spouse (referring to resident ID card, permanent residence booklet and other valid residence documents), and proof of marital status

< p>(3) Proof of stable economic income of the family and other proofs of claims and debts that have an impact on repayment ability;

(4) Valid supporting documents such as contracts and agreements for purchasing a house;

(5) Collateral used for security, list of pledges, ownership certificate, proof of the consent of the person with disposal rights to mortgage and pledge, and collateral valuation certificate issued by the relevant department;

(6) Provident fund The center requires a third-party guarantor to provide a guarantee and pay the guarantee fee, and the borrower, lender and third-party guarantor must sign a three-party contract.

(7) Other information required by the Provident Fund Center.

2. For loan applications with complete information, banks will promptly accept and review them and submit them to the Provident Fund Center in a timely manner.

3. The Provident Fund Center is responsible for approving loans and notifying the bank of the approval results in a timely manner.

4. The bank will notify the applicant to handle the loan procedures based on the approval results of the Provident Fund Center. The borrower and his wife will sign a loan contract and related contracts or agreements with the bank, and submit the loan contract and other procedures to the Provident Fund Center for review. , the provident fund center will allocate the entrusted loan fund after approval, and the entrusted bank will issue the loan in full and on time according to the loan contract.

5. If the guarantee is in the form of a housing mortgage, the borrower must go to the housing property rights management department in the area where the house is located to handle the real estate mortgage registration procedures. If the mortgage contract or agreement is signed by both husband and wife, and the mortgage is pledged with securities, The borrower will hand over the securities to the management department or alliance center for safekeeping.

Extended information:

Notes on provident fund loans to buy a house:

1. Couple loans of provident fund loans: If the couple takes a loan to buy a house, it does not matter whether it is before marriage or As long as one of the couple has applied for a provident fund loan after marriage, there will be a corresponding record on the core provident fund system. Before the last loan is repaid, the couple cannot use the provident fund loan to buy a second house.

2. Provident Fund Loan for the Second House: If the borrower uses the Provident Fund loan to buy a house, he or she has used it to purchase the first house. The Provident Fund loan cannot be applied for again to purchase the second house before the Provident Fund loan has been repaid. Provident fund loans can only be used after the previous housing loan has been paid off. At the same time, it will not be considered a second home and will still be treated as a first home according to its policies.

3. Do not use provident funds before applying for a loan. If the borrower withdraws the provident fund balance before the loan is used to pay for the house, the provident fund balance on your provident fund account will be zero, and your provident fund loan limit will also be zero, which means that you will not be able to apply for a provident fund loan. .

4. Do not repay in advance within the first year of borrowing. According to the relevant provisions of provident fund loans, partial early repayment should be made after one year of loan repayment, and the amount you repay should exceed 6 months' repayment amount.

5. If you have difficulty repaying your loan, don’t forget to find a bank near you. When your repayment ability decreases during the loan period and you have difficulty repaying the loan, don't hold on to yourself. ICBC customers can apply to ICBC to extend the loan period. If it is found true after the bank's investigation and the loan principal and interest are not in arrears, ICBC will accept your application to extend the loan period.

6. Don’t forget to notify your obligation when renting out a house after taking out a loan. When you rent out a mortgaged property during the loan period, you must notify the tenant in writing of the fact that it is mortgaged.

7. Don’t forget to cancel the mortgage after the loan is paid off. After you have paid off all the loan principal and interest, you can go to the real estate transaction center in the district or county where the property is located to cancel the mortgage with the bank's loan settlement certificate and other certificates of real estate rights of the mortgaged property.

8. Don’t lose the loan contract and IOU. When applying for a mortgage loan, the loan contract and IOU signed between the bank and you are important legal documents. Since the loan term can be up to 30 years, as a borrower, you should keep your contract and IOU properly.

Reference materials:

Shanghai Housing Provident Fund Network - Information required for pure provident fund loans. How long does it usually take to provide provident fund loans?

Legal analysis: approved provident fund loans Generally, the loan can be issued normally within 7-15 days. The general disbursement time of provident fund loans: 1. In the case of provident fund loans (no review required), it takes 7 days after submitting the information to be approved. 2. After the approval is passed, a transfer transaction is required, and the loan will be released approximately 7 to 10 days after the transfer transaction is completed and the property rights are issued.

Legal basis: "Regulations on the Administration of Housing Provident Fund"

Article 15 When a unit hires employees, it shall register with the Housing Provident Fund Management Center within 30 days from the date of employment. And handle the procedures for the establishment or transfer of employee housing provident fund accounts.

If the unit terminates the labor relationship with its employees, the unit shall register the change with the Housing Provident Fund Management Center within 30 days from the date of termination of the labor relationship, and handle the transfer or sealing procedures for the employees’ housing provident fund accounts.

Article 16 The monthly contribution amount to the employee housing provident fund is the employee's average monthly salary in the previous year multiplied by the employee housing provident fund contribution ratio.

The monthly payment amount of the housing provident fund paid by the unit for employees is the employee's average monthly salary in the previous year multiplied by the unit's housing provident fund payment ratio.

Article 17 New employees who join the workforce will start to pay housing provident fund from the second month of starting work. The monthly deposit amount is the employee’s monthly salary multiplied by the employee housing provident fund payment ratio.

Newly transferred employees from the unit shall contribute to the housing provident fund from the date when the transferred unit pays wages. The monthly deposit amount shall be the employee's monthly salary multiplied by the employee housing provident fund contribution ratio.

Article 18 The contribution ratio of employees and units to the housing provident fund shall not be less than 5% of the employees' average monthly salary in the previous year; in cities with conditions, the contribution ratio may be appropriately increased. The specific contribution ratio shall be formulated by the Housing Provident Fund Management Committee, and shall be submitted to the people's government of the province, autonomous region, or municipality directly under the Central Government for approval after review by the people's government at the same level.

Article 19 The housing provident fund paid by individual employees shall be withheld and paid by the employer from their wages every month.

The unit shall remit the housing provident fund deposited by the unit and paid on behalf of the employees to a special housing provident fund account within 5 days from the date of monthly payment of employee wages, and the entrusted bank shall include it in the housing provident fund of the employees. Provident Fund Account.

Article 20 Units shall pay and deposit the housing provident fund on time and in full, and shall not make late payment or underpayment.

For units that really have difficulty paying the housing provident fund, the payment ratio can be reduced after discussion and approval by the unit’s employee congress or labor union, review by the housing provident fund management center, and approval by the housing provident fund management committee. Or postpone the payment; after the unit's economic performance improves, the payment ratio can be increased or the payment can be postponed.

Article 21 The housing provident fund will accrue interest based on the interest rate prescribed by the state from the date it is deposited into the employee housing provident fund account.

Article 22 The Housing Provident Fund Management Center shall issue valid vouchers for the payment of housing provident funds to employees who have paid and deposited housing provident funds.