Specifically, if you use a provident fund loan to buy a house, you need to pay a certain percentage of the provident fund to the provident fund account every month. After paying off the principal and interest of the house purchase loan, you can apply for withdrawing funds from the provident fund account to repay the previous loan according to local policies and regulations.
Conditions for repayment of provident fund:
1. The borrower of the provident fund loan must have full capacity for civil conduct, have a legally stable income, have a fixed residence (the loan period cannot be changed), and meet the relevant regulations of the local provident fund management center;
2. The borrower needs to deposit the provident fund in the provident fund management center for more than one year and deposit it continuously for six months during the deposit period before applying for the provident fund loan;
3. The borrower's provident fund account must have a certain balance to pay the down payment and loan interest of the provident fund loan;
4. The borrower shall provide sufficient collateral or guarantee measures to ensure the safety of provident fund loans.
To sum up, the regulations on provident fund management may be different in different regions, and the specific operating procedures and conditions need to be determined according to local policies and actual conditions. If it is necessary to withdraw the principal and interest of housing loans from the provident fund, it is recommended to consult the local housing provident fund management center or relevant banking institutions to understand the specific operation process and matters needing attention.
Legal basis:
Article 26 of the Regulations of People's Republic of China (PRC) Municipality on the Administration of Housing Provident Fund.
Workers who have paid housing provident fund can apply for housing provident fund loans to the housing provident fund management center when purchasing, building, renovating or overhauling their own houses.
The housing provident fund management center shall make a decision on whether to grant loans within 15 days from the date of accepting the application, and notify the applicant; Where a loan is granted, the entrusted bank shall go through the loan formalities.
The risk of housing provident fund loans shall be borne by the housing provident fund management center.