Purpose 1: Provident Fund House Purchase

Provident Fund loan is still the first choice for most people. When using Provident Fund to purchase a house, you can withdraw Provident Fund for down payment or withdraw Provident Fund for commercial loan purchase. To repay the principal and interest, the provident fund (combined) loan can be withdrawn to repay the principal and interest when purchasing a house. If there is no loan during the purchase of the house, the provident fund can be withdrawn in one go to relieve some of the pressure of buying a house.

Use 2: Provident Fund for renting a house

If you do not meet the conditions to buy a house in the short term, you can choose to use the Provident Fund to rent a house. In addition to paying the market rent, the Provident Fund can also be used to rent a house in the government Renting subsidized economic rental housing or rent-to-rent housing, low rent can save money, and save money to buy your own property.

Use 3: Construction, renovation, and overhaul of housing.

This purpose is only applicable to employees and their spouses who build, renovate, or overhaul their own houses on rural collective land and use employee loans. They can apply to withdraw the provident fund before the month when the house construction is approved (including the current month). The total amount withdrawn shall not exceed the cost of building a house.

Purpose 4: Don’t forget the provident fund when parents buy a house for their children

If you buy your own house without using a housing loan, you can withdraw your parents’ provident fund if you use it when buying a house. If you take a personal housing loan from a commercial bank, you can withdraw your parents' provident fund after paying the down payment. You can use a personal housing provident fund (combination) loan to buy your own house, and you can withdraw your parents' provident fund after paying the down payment.

Purpose 5: Withdrawal and use within the scope of subsistence allowance or special poverty relief

If it is included in the scope of urban residents’ minimum living security or special poverty relief, then you or your spouse can apply to withdraw the housing provident fund. However, Note that the amount withdrawn shall not exceed the amount of housing provident fund previously applied for during the period included in the subsistence allowance or special poverty relief period.

Purpose Six: Provident Fund can be used to treat major diseases

This has a wide range of uses and can be used to meet urgent needs. Family members who suffer from major diseases or major surgeries can use the Housing Provident Fund for hospitalization. The applicant, spouse and minor children, but it should also be noted that the applicant should be the applicant or his spouse, the application date should be valid within one year from the date of discharge, and the total withdrawal amount shall not exceed the personally borne portion of the hospitalization expenses.

Purpose seven: cancel the account and withdraw the entire balance

Legal basis:

Article 24 of the "Housing Provident Fund Management Regulations" If an employee has one of the following circumstances , you can withdraw the balance in the employee housing provident fund account:

(1) Purchase, build, renovate or overhaul self-occupied housing;

(2) Retire or retire;< /p>

(3) Completely lose the ability to work and terminate the labor relationship with the employer;

(4) Leave the country to settle;

(5) Repay the principal and interest of the house purchase loan ;

(6) The rent exceeds the prescribed proportion of family wage income.

In accordance with the provisions of items (2), (3) and (4) of the preceding paragraph, if the employee housing provident fund is withdrawn, the employee housing provident fund account shall be canceled at the same time.

If an employee dies or is declared dead, the employee’s heirs and legatees can withdraw the balance in the employee’s housing provident fund account; if there is no heir or legatee, the balance in the employee’s housing provident fund account can be withdrawn. Included in the value-added income of the housing provident fund.