Because there must be enough balance in the provident fund account (such as 12 month balance), the mortgage will be automatically deducted. The deposit of 12 months mentioned in the provident fund loan means that the provident fund needs to be continuously deposited for one year, and the provident fund for this year has not been withdrawn and is in the balance.

I. Individual housing provident fund loans are eligible:

1. The borrower has full capacity for civil conduct;

2. Have the official residence or valid residence status in this city;

3. Have stable economic income, good credit and the ability to repay the principal and interest of the loan;

4. The housing provident fund shall be paid normally before the loan, and it shall be paid continuously for more than half a year;

5, can provide a valid contract or agreement for the purchase of owner-occupied housing;

6. In the purchase contract, the borrower and the purchaser must be consistent, and the person who purchases the property right (except the spouse) must issue a written commitment to agree to the mortgage of the house;

7, with not less than 30% of the purchase value of owner-occupied housing (second-hand housing more than 40%) of its own funds;

8. The borrower agrees to handle housing mortgage loan and insurance;

9, the purchase of commercial housing, developers should provide phased guarantee and report the relevant credit materials;

10. The borrower agrees to open a personal account with the loan undertaking bank, and agrees that the loan undertaking bank directly deducts the loan principal and interest from the account every month.

Second, the use of provident fund:

1, buy a house

I believe everyone knows this purpose, because when it comes to provident fund, the first thing that everyone thinks of may be buying a house. In fact, it is quite cost-effective to buy a house with a housing provident fund loan, because the interest rate of the provident fund is 3.25%, which is much lower than other bank loans.

Step 2 rent a house

Young people who work hard outside need to rent a house. At this time, you can use the provident fund to pay the rent. However, it should be noted that the withdrawal of provident fund should be applied within six months after the lease contract comes into effect and the contract expires.

3. Decoration and renovation

Provident fund can be used not only to buy a house, but also to decorate the house and make your house look brand-new. However, the total amount of provident fund withdrawn cannot exceed the total cost of house decoration or decoration.

4. Buy a house for children.

Children who use commercial bank loans to buy a house can withdraw their parents' provident fund to repay the loan after paying the down payment; Property buyers who have not used housing loans or purchased their own houses can withdraw their parents' provident fund.

5. Withdraw all the balance from account cancellation as pension.

I need to close my account, fill out the application for closing my account in accordance with the relevant regulations and go to the designated department. All the balance withdrawn after the application is completed can be used as a pension.

Step 6 treat diseases

This application can greatly solve the problem of insufficient funds for disease treatment.

7. The range of low or poor can be extracted.

Included in the scope of poverty or the minimum living guarantee for residents, my spouse and I can apply for withdrawal of provident fund.

Legal basis:

Regulations on the administration of housing provident fund

Twelfth housing provident fund management committee shall, in accordance with the relevant provisions of the People's Bank of China, designate commercial banks entrusted with the financial business of housing provident fund (hereinafter referred to as the entrusted banks); The housing provident fund management center shall entrust the entrusted bank to handle financial services such as housing provident fund loans and settlement, as well as the establishment, deposit and return procedures of housing provident fund accounts.

The housing provident fund management center shall sign an entrustment contract with the entrusted bank. Twenty-sixth 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. Article 30 The management fee of the housing provident fund management center shall be compiled by the housing provident fund management center in accordance with the prescribed standards, and after being approved by the financial department of the people's government at the same level, it shall be extracted from the value-added income of the housing provident fund and allocated by the finance at the same level.

The management fee standard of the housing provident fund management center shall be formulated by the construction administrative departments of the people's governments of provinces, autonomous regions and municipalities directly under the Central Government in conjunction with the financial departments at the same level in accordance with the charging standards of institutions slightly higher than those stipulated by the state.