What are the uses of the provident fund?
1, loan to buy a house
The purpose of the housing provident fund system is to hope that ordinary people can use the provident fund when buying a house. Property buyers can apply for provident fund loans to buy a house. The advantage of provident fund loans is that the loan interest rate is low. The benchmark interest rate for commercial loans over five years is 4.9%, and the interest rate for provident fund loans over five years is 3.25%. Therefore, if property buyers use provident fund loans, they can leave a lot of interest. However, it should be noted that there is a maximum amount limit for individual housing provident fund loans. For example, the maximum amount in Beijing is 6.5438+0.2 million.
2. Withdraw the provident fund to pay the monthly payment.
In addition to loans, people who use provident fund (portfolio) loans to buy houses can also withdraw provident fund to repay principal and interest. Can't property buyers apply for commercial loans with provident fund? That's not true. If a property buyer uses a commercial loan to purchase a house, the borrower and his spouse may apply for withdrawing the housing provident fund and repay the principal and interest of the commercial housing loan annually.
3, construction, renovation, overhaul has ownership of the house.
For the purchase of commercial housing (including second-hand housing), construction, renovation, overhaul (the maintenance cost exceeds 30% of the housing cost) and the use of housing loans, employees and their spouses may apply for withdrawal of the balance of provident fund before the month of housing construction approval (including the month), and the total withdrawal shall not exceed the housing construction cost. What buyers need to pay attention to is that simple decoration is not within the scope of housing provident fund extraction, so it is impossible to extract housing provident fund from decoration.
4. Retirement pension
Property buyers can take out the provident fund as a pension after retirement.
5, enter the low or poor range can be extracted and used.
In many cities, if employees belong to low-income or poor people, they can apply for withdrawal of provident fund to meet their daily needs.
6, the treatment of major diseases
Employees or family members (including employees themselves, spouses and minor children) who have paid housing provident fund suffer from major illness or major surgery for hospitalization, employees themselves and their spouses may apply for withdrawal of housing provident fund, and the total amount of withdrawal shall not exceed the personal burden of hospitalization medical expenses.
Step 7 rent a house
Many people will encounter the need to rent a house to work in other places. In fact, they can also use the provident fund at this time. However, it should be noted that the amount and requirements of rent withdrawal in each city are different, some need rent invoices, while others agree to withdraw cash.
8. Take out all the balance from the account cancellation.
If the property buyers meet certain conditions, they can apply for canceling their accounts to withdraw the provident fund. For example, retired workers, living abroad, completely incapacitated, dead or declared dead, and so on.
What misunderstandings should be avoided when using housing provident fund?
Myth 1: the balance of the provident fund account is the down payment for buying a house.
Many people think that they can withdraw the provident fund to pay the down payment for buying a house. Actually, it is not. The provident fund can only be withdrawn after it is used first, that is to say, the purchaser can only go through the withdrawal procedures after providing the relevant proof materials for the purchase.
Myth 2: Children use their parents' provident fund loans.
Under normal circumstances, the provident fund center stipulates that family members can apply for provident fund loans, but if children already have independent families, then children and parents cannot be regarded as a family, that is to say, provident funds cannot be used with each other. Of course, some cities will have other regulations to facilitate parents and children to use the provident fund, and buyers can consult the local provident fund center in advance.
Myth # 3: Housing accumulation fund can be withdrawn from renovated houses.
According to the Regulations on the Management of Housing Provident Fund, housing overhaul can draw provident fund, but it needs the appraisal certificate issued by the housing appraisal agency. General minor repairs or medium repairs cannot use the housing provident fund.
Myth 4: The total amount of withdrawal can exceed the total amount of house payment.
The total withdrawal of the provident fund cannot exceed the total house payment. For example, the total price of a house purchased by a property buyer with a loan is 300,000 yuan, and the balance of its provident fund is 400,000 yuan, so only 300,000 yuan of provident fund can be withdrawn.
Myth 5: Personal badness will not affect provident fund loans.
Provident fund loans should also assess the borrower's personal credit history. If the borrower's personal credit is poor and has a record of "three consecutive tired six", the provident fund management center may also refuse to sign.