However, the ownership of these two provident funds is also necessary. If they are all provincial or municipal provident funds, they can borrow together, and the maximum loan amount will vary according to the location.
If they don't belong to the same provident fund management center, only one party can borrow money, and the other party can withdraw the provident fund from the provident fund center once a year for repayment.
When applying for provident fund loan, the monthly repayment amount/monthly income should not exceed 50% (including the sum of the monthly repayment amount of existing liabilities and current liabilities). The loan period of housing provident fund is 1-30 years, and the longest period shall not exceed the borrower's legal retirement age; On the basis of considering their own loan repayment ability, employees approaching retirement age can appropriately relax the loan period 1-3 years.
Loan terms:
1. Only employees who participate in the housing provident fund system are eligible to apply for housing provident fund loans. Employees who have not participated in the housing provident fund system cannot apply for housing provident fund loans.
2. Persons participating in the housing provident fund system must also meet the following conditions before they can apply for housing provident fund personal housing loans: that is, the time for continuous deposit of housing provident fund before applying for loans is not less than six months. Because, if the employee's behavior of paying housing provident fund is abnormal and intermittent, it indicates that his income is unstable and he is prone to risks after issuing loans.
3. If one spouse has applied for a housing provident fund loan, neither spouse may apply for a housing provident fund loan again before paying off the principal and interest of the loan. Because the housing provident fund loan is a kind of "housing security" financial support to meet the basic housing needs of workers' families.
Refer to the above content: Baidu Encyclopedia-Provident Fund Loan