Nowadays, many companies pay provident funds to their employees every month. The provident funds can not only be withdrawn under certain conditions, but can also be used for loans to buy houses. So after retirement, can the provident funds still be used for loans to buy a house? Generally speaking, It is said that provident fund loans can no longer be used after retirement. Retirees can only withdraw provident funds, but cannot buy houses with provident fund loans. To apply for a provident fund loan within one person, you need to pay the provident fund for a certain number of consecutive months. You can no longer pay the provident fund after retirement, so you only have the opportunity when you first retire. Secondly, the number of years you can get a loan after retirement is relatively short. The maximum loan age for men is 65. If you are older than this age, you cannot apply for a loan to buy a house.
Conditions for provident fund loans: 1. Have a permanent residence in xx city or a valid residence certificate. 2. Only employees who participate in the housing provident fund system are eligible to apply for housing provident fund loans. Employees who do not participate in the housing provident fund system cannot apply for housing provident fund loans. 3. Those who participate in the housing provident fund system must meet the following conditions to apply for a housing provident fund personal home purchase loan: that is, they must have paid and deposited the housing provident fund in full for no less than 6 months before applying for a loan. Some cities stipulate that it must not be less than 12 months. . 4. Purchase, build, renovate, and overhaul self-occupied ordinary housing (excluding commercial and residential dual-use housing) within the xx city area and have relevant procedures, documents, and have delivered the prescribed proportion of self-raised funds. 5. Have full capacity for civil conduct, have a stable career and income, have the ability to repay the principal and interest of the loan, and have good credit. 6. There are no outstanding housing provident fund loans. It should also be noted that if one spouse applies for a housing provident fund loan, neither spouse will be able to obtain another housing provident fund loan before the principal and interest of the loan are repaid. 7. The legal retirement age has not been reached (if the state has other provisions that may be extended, such provisions shall apply, but the maximum age shall not exceed 65 years old). 8. The maximum term of provident fund loans shall not exceed 30 years. When applying for a portfolio loan, the loan terms of the provident fund loan and the commercial housing loan must be consistent.
Advantages of provident fund loans: 1. Loans enjoy low interest rates. The interest rate of provident fund loans has always been lower than that of commercial loans. As policy loans, housing provident fund loans have low interest rates. The interest rates of housing provident fund loans are about 2% lower than the benchmark interest rate of commercial bank housing loans. percentage points. 2. Housing provident fund loan interest can be deducted from personal income tax. Relevant laws stipulate that housing provident fund loan interest paid by individuals can be deducted from the taxable income of monthly personal wages and salary income. 3. The provisions on early repayment of provident fund are loose. If it is a provident fund loan when buying a house, if the home buyer wants to repay it in advance, he can apply for early repayment of all loans. If you only repay part of the loan in advance, it can be processed smoothly as long as you meet the conditions and have complete information. In addition, the early repayment policy of provident fund loans is loose and unrestricted. Borrowers can repay in advance at any time without charging borrower fees. Early repayment of commercial loans generally requires a certain penalty.