Housing provident fund can be used to purchase existing houses. You can withdraw the balance of housing provident fund to purchase existing houses. If you want to withdraw the provident fund, you need to prepare the materials needed to withdraw the provident fund first, and then apply to the provident fund management center.
The benefits of housing provident fund are 1. It can be used to borrow money to buy a house, which is the most common use of provident fund. Many people choose to use provident fund loans to buy houses, mainly because the interest rate of provident fund loans is relatively low, far lower than that of commercial loans. Housing provident fund loans are the first choice for many employees to buy a house. The benchmark interest rate for housing loans of commercial banks is 4.9%, which will generally rise by 10%. The housing provident fund loan interest rate is 3.25% for more than five years and 2.75% for less than five years. The overall interest rate is higher than the provident fund loan. In addition, it can also be used when family members are seriously ill and need hospitalization. Both my spouse and I can apply for withdrawal of provident fund.
2. Withdraw cash to buy a house. If you don't use the provident fund loan to buy a house, you can withdraw the money from the provident fund as the down payment of the house; If you don't buy a house, you can also withdraw the money from the provident fund at one time.
3, house decoration, decoration, house decoration, decoration will cost a lot of money, this time the provident fund can also play a big role.
4. It is used to pay the rent. As long as they have paid the provident fund for three consecutive months, renters can apply for withdrawal of the provident fund. You can also use the housing provident fund, but the amount of public rental housing and commercial housing is different. You can consult the relevant local departments for details. Children can withdraw their parents' housing provident fund when they buy a house. Unmarried children living with their parents can buy ordinary self-occupied houses, and parents can withdraw the balance of their provident fund accounts. If children borrow money to buy a house and parents participate in the repayment, they can withdraw according to the repayment method of provident fund, not only the down payment, but also the principal and interest of provident fund repayment every year.
5. Pay medical expenses for serious illness. This function may not be known to many people. When a person with a housing provident fund account suffers from a major disease, individuals and their families can withdraw the housing provident fund for disease treatment.