The term of the housing provident fund loan is calculated according to the lowest of the following two items.
(a) the term of first-hand property loans shall not exceed 30 years, and the term of second-hand property loans shall not exceed 20 years.
(2) The sum of the borrower's age and the loan term shall not exceed 5 years after the statutory retirement age. The legal retirement age is generally calculated according to the age of 55 for women and 60 for men. If two or more people purchase the same house and apply for housing provident fund loans, the longest loan period shall be calculated.
Legal basis: Regulations on the Management of Housing Provident Fund
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.
Twenty-seventh applicants for housing provident fund loans shall provide guarantees.
Twenty-eighth housing provident fund management center in the premise of ensuring the housing provident fund withdrawal and loans, approved by the housing provident fund management committee, housing provident fund can be used to buy government bonds. The housing provident fund management center shall not provide guarantees to others.