1. Can provident fund loans be used to buy a car?

Currently it is not possible to use provident fund loans to buy a car, it can only be used to buy a house.

2 , Can five insurances and one housing fund be used to buy a car?

No. One of the five insurances and one fund is the housing provident fund, which is mainly used for repayment of housing loans, withdrawals for house overhauls, withdrawals for renting and other house-related matters.

It cannot be used to borrow money to buy a car, but some banks can use the provident fund to obtain credit loans and use the money from the credit loan to buy a car.

3. Can provident fund loans be used to buy a car?

You cannot use provident fund loans to buy a car. When workers purchase, construct, renovate or overhaul their own homes, they can apply for housing provident fund loans from the Housing Provident Fund Management Center. Applicants applying for housing provident fund loans must provide guarantees. The risks of housing provident fund loans are borne by the housing provident fund management center. According to the law, employees who have paid housing provident funds in accordance with Article 26 of the "Regulations on the Administration of Housing Provident Funds" may apply for housing provident fund loans from the Housing Provident Fund Management Center when purchasing, constructing, renovating, or overhauling their own homes. The Housing Provident Fund Management Center shall make a decision on whether to grant a loan or not within 15 days from the date of accepting the application, and notify the applicant; if the loan is granted, the entrusted bank shall handle the loan procedures. The risks of housing provident fund loans are borne by the housing provident fund management center. Warm reminder: The above answers are only based on the current information and my understanding of the law. Please refer to it with caution! If you still have questions about this issue, it is recommended that you sort out the relevant information and communicate with professionals in detail.

4. Can provident fund loans be used to buy a car?

No.

Article 5 of the "Housing Provident Fund Management Regulations" Housing Provident Fund shall be used for the purchase, construction, renovation and overhaul of self-occupied housing by employees, and no unit or individual may misappropriate it for other purposes.

Article 24 of the "Housing Provident Fund Management Regulations" If an employee has any of the following circumstances, he or she may withdraw the balance in the employee's housing provident fund account:

(1) Purchase, construction , renovating or overhauling self-occupied housing;

(2) Retired or retired;

(3) Completely losing the ability to work and terminating the labor relationship with the unit;

(4) Leaving the country to settle down;

(5) Repaying the principal and interest of the house purchase loan;

(6) The rent exceeding the prescribed proportion of family wage income.

In accordance with the provisions of items (2), (3) and (4) of the preceding paragraph, if the employee housing provident fund is withdrawn, the employee housing provident fund account shall be canceled at the same time.

If an employee dies or is declared dead, the employee’s heirs and legatees can withdraw the balance in the employee’s housing provident fund account; if there is no heir or legatee, the balance in the employee’s housing provident fund account can be withdrawn. Included in the value-added income of the housing provident fund.

Extended information:

Article 25 of the "Housing Provident Fund Management Regulations" If an employee withdraws the balance in the housing provident fund account, the unit where he/she works shall verify it and issue a withdrawal certificate.

Employees should apply to the Housing Provident Fund Management Center to withdraw housing provident funds with the withdrawal certificate. The Housing Provident Fund Management Center shall make a decision on whether to approve the withdrawal or not to allow the withdrawal within 3 days from the date of accepting the application, and notify the applicant; if the withdrawal is approved, the entrusted bank shall handle the payment procedures.

Article 40 of the "Housing Provident Fund Management Regulations" If the housing provident fund management center violates the provisions of these regulations and commits any of the following acts, the construction administrative department of the State Council or the construction administrative department of the people's government of a province or autonomous region shall, on the basis of Management authority shall be ordered to make corrections within a time limit; the responsible person in charge and other directly responsible personnel shall be given administrative sanctions in accordance with the law:

(1) Failure to establish a special housing provident fund account in accordance with regulations;

< p>(2) Failure to approve the withdrawal and use of housing provident funds by employees in accordance with regulations;

(3) Failure to use the value-added income of housing provident funds in accordance with regulations;

(4) Entrusting housing provident funds Institutions other than banks designated by the management committee handle housing provident fund financial services;

(5) Failure to establish detailed accounts of employee housing provident funds;

(6) Failure to deposit housing provident funds Issue valid certificates for the payment of housing provident funds to employees;

(7) Failure to use housing provident funds to purchase treasury bonds in accordance with regulations.