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Provident fund loan refers to individual housing provident fund loan, which is a mortgage loan that is paid by local housing provident fund management centers using the housing provident fund paid by employees who apply for provident fund loans, and entrusted by commercial banks to the housing provident fund depositors who purchase, build, renovate or overhaul their own houses and retired employees who pay the housing provident fund during their employment. According to the regulations, employees who have paid the housing provident fund for a certain period of time or more (the period varies from city to city, such as Changsha exceeding 12 months) can apply for provident fund loans when the funds for purchasing, building, renovating or overhauling their own houses are insufficient.
The loan conditions are: employees in the unit have signed labor contracts for more than three years (or signed 1 year labor contracts for three consecutive years); Normal continuous monthly housing provident fund deposit exceeds a certain period; Not exceeding the statutory retirement age; The borrower has a stable economic income and the ability to repay the principal and interest; The borrower agrees to handle the mortgage registration and insurance; Provide the guarantee method agreed by the local housing provident fund management center and its sub-centers; At the same time, submit relevant documents required by the bank, such as house purchase contract or house pre-sale contract, house property certificate, land use certificate, and deposit certificate of provident fund.