Housing fund refers to the special fund for housing system reform and housing construction raised by national finance and units according to national policies, regulations and financial systems. Housing accumulation fund is the funds obtained by enterprises according to the prescribed sources with specific purposes and specially used for employee housing. Housing accumulation fund is a fund that the state requires enterprises to establish in order to ensure and promote the smooth progress of housing system reform, realize housing commercialization and speed up housing construction.

Can the housing provident fund buy a car?

According to the relevant regulations, the provident fund cannot buy a car.

According to Article 24 of the Regulations on the Management of Housing Provident Fund, employees may withdraw the storage balance in their housing provident fund accounts under any of the following circumstances:

1. Purchase, build, renovate or overhaul the owner-occupied house;

2. Vacation or retirement;

3. Completely lose the ability to work and terminate the labor relationship with the unit;

4. Go abroad to settle down;

5. Repay the principal and interest of the house purchase loan;

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