Provident funds are paid by employers and workers, and can be used for monthly repayment when buying a house. Of course, if economic conditions permit, you can make a one-time repayment without using the provident fund. According to the law, the provident fund can be used for monthly payment. The provident fund is stipulated by the court, and the contributions paid by employees and employers can be used to repay the purchase price. There are three ways to withdraw the provident fund for repayment: one-time repayment, suspension for several months and monthly repayment. If the balance of the provident fund account is insufficient, the difference will be deducted from the repayment bank card bound by the customer by the banking system.

How to withdraw the provident fund:

1, house purchase withdrawal: the provident fund can not only apply for a bank loan to buy a house, but also be withdrawn to subsidize the house purchase. Some buyers may not know this. Although the interest of provident fund loans is much lower than that of ordinary commercial housing loans, if property buyers do not meet the conditions of provident fund loans, they can consider withdrawing provident fund. Property buyers can consider withdrawing the provident fund in the name of buying a house, taking the amount of the provident fund loan account as the down payment for buying a house, or withdrawing the provident fund to repay the principal and interest;

2. Pay the rent: even friends who don't buy a house can withdraw the provident fund. For example, friends who are still renting a house can withdraw the provident fund to pay the rent. With the rise of house prices, the rent has also risen a lot. If you want to rent a house with a better environment, the rent is actually not cheap. Now the rent is paid quarterly or semi-annually. Paying so much money at once is quite stressful. If the tenant happens to be at that time,

3. Renovation of houses: Some friends don't like life in the city, but prefer the place where they grew up. At this time, property buyers can consider withdrawing provident fund to decorate their houses. Although building a house costs less than buying a house in the city, it still needs a lot of money. In fact, housing provident fund can also be withdrawn and used when building a house. Unclear friends can also consult the local provident fund management center. Most cities support it;

4. Extraction of major diseases: There are many medical expenses for major diseases. If someone in the family suffers from a serious illness, then in the case of relatively high pressure on medical expenses, buyers can consider withdrawing provident fund to pay for it;

5. Withdrawal and cancellation: If the personal provident fund account is no longer used, everyone can close the personal provident fund account and withdraw the balance of the provident fund inside.

To sum up, the provident fund can be used for monthly payment, and the monthly repayment method refers to the method of directly withdrawing the loan principal and interest of the current month from the customer's provident fund account every month. When the amount of the withdrawn provident fund is insufficient, the client shall make up the repayment amount in time. This way can not only offset the loan principal and interest of the provident fund, but also offset the principal and interest of commercial loans.

Legal basis:

Article 5 of the Regulations on the Management of Housing Provident Fund

The housing accumulation fund shall be used for the purchase, construction, renovation and overhaul of owner-occupied housing by employees, and no unit or individual may use it for other purposes.

Article 26

Workers who pay housing provident fund may apply for housing provident fund loans to the housing provident fund management center when purchasing, constructing, renovating or overhauling their own houses. The housing provident fund management center shall, within 05 days from the date of accepting the application, make a decision on whether to grant the loan or not, and notify the applicant;

If the loan is granted, the entrusted bank shall handle the loan formalities. The risk of housing provident fund loans shall be borne by the housing provident fund management center.