Consequences of loan accumulation fund:
1, loan interest: if you use the provident fund loan to buy a house, you need to pay the corresponding loan interest, which will increase the burden on the buyers;
2. Loan term: if you use the provident fund loan to buy a house, you need to repay it within the prescribed time limit, which may have a certain impact on the financial situation and life of the purchaser;
3. Insufficient balance of the provident fund account: If the balance of the provident fund account is insufficient to pay the down payment for house purchase or cannot meet the loan application conditions, the buyers may need to raise additional funds to increase the purchase cost;
4. Prepayment: If the buyer prepays within the loan period, it may need to pay a certain penalty or other expenses, which will also increase the purchase cost.
To sum up, the supporting documents required for different extraction reasons may be different, so you need to know the local regulations and requirements and prepare the corresponding materials before applying.
Legal basis:
Article 13 of the Regulations on the Management of Housing Provident Fund
The housing provident fund management center shall set up a housing provident fund account in the entrusted bank.
The unit shall register the housing provident fund deposit with the housing provident fund management center, and go through the formalities for the establishment of housing provident fund accounts for the employees of the unit. Each employee can only have one housing provident fund account.
The housing provident fund management center shall establish a detailed account of employee housing provident fund to record the deposit and withdrawal of employee individual housing provident fund.
Article 14
The newly established unit shall, within 30 days from the date of establishment, go to the housing provident fund management center for registration of housing provident fund deposit, and within 20 days from the date of registration, go through the formalities for the establishment of housing provident fund accounts for its employees.
Where a unit is merged, divided, revoked, dissolved or bankrupt, the original unit or liquidation organization shall, within 30 days from the date of the above-mentioned situation, go to the housing provident fund management center to handle the change or cancellation of registration, and handle the transfer or seal-up procedures for the employees of the unit within 20 days from the date of completing the change or cancellation of registration.