Can provident fund loans be used for commercial housing?

No.

Loans are not allowed for commercial properties, but only for residential properties. The provident fund can only be withdrawn once, and the provident fund cannot be withdrawn every month for loan repayment. If you take a loan, you cannot withdraw the provident fund, and if you withdraw the provident fund, you cannot get a loan. This is regulated.

Commercial real estate includes shops, office buildings, and serviced apartments, and retail stores are commercial real estate; retail housing is not within the purchase limit, and provident fund loans are not allowed. To buy a retail housing with a commercial loan, your repayment will be assessed. There is no limit on loan capacity. Commercial loans are now 7.05%, and the maximum loan period is only 10 years. Unlike residential loans, which can be loaned for 30 years.

1. How to use the provident fund to repay the provident fund loan

The provident fund can be used to repay the housing loan. The provident fund balance can be withdrawn from the housing provident fund account and the loan can be repaid in one go. Many people retire Afterwards, you need to use this method to repay the loan. After the loan is repaid, if there is still a loan that has not been paid off, the principal and repayment period of the remaining loan will be recalculated to determine the monthly repayment amount for each subsequent month.

You can also withdraw the balance from your provident fund account and repay the loan early. After repaying the loan early, the lender can stop repaying the loan for a certain number of months. After the loan repayment cessation period ends, the borrower must continue to make monthly payments. The interest owed during the moratorium period will not be subject to penalty interest or compound interest, and will be deducted from the monthly repayment after the cessation period. Some home buyers often use this method to repay their loans when their income changes at a certain stage (such as illness, childbirth, unemployment, etc.).

2. Is provident fund repayment automatically deducted?

1. It is understood that the provident fund is automatically deducted when the balance of the provident fund account of the primary lender, the provident fund account of the auxiliary lender, and the repayment card is greater than or equal to the principal and interest of the loan. Only then can the payment be successfully deducted.

2. In other words, provident fund repayments can be automatically deducted. As long as there is sufficient balance in the account, the required deductions can be automatically deducted every month. There is no need to set up every month. Alarm clock reminds you to repay.

3. In addition, how else can provident fund be repaid? The housing provident fund offset loan is to entrust the bank to withdraw the money from the personal provident fund account balance to repay the monthly loan payment or repay the loan in advance. There are two ways to offset the loan: "annual offset" and "monthly offset".

4. The annual offset method is equivalent to partial early repayment once a year, but this method gives priority to repaying the principal of the provident fund loan. In addition, the monthly repayment must be returned in cash.

5. Using the monthly offset method, in addition to repaying the "monthly principal and interest amount payable" of provident fund loans every month, you can also offset the "monthly principal and interest amount payable" of commercial loans.

Can shops use housing provident fund loans?

No. Since shops are commercial in nature, housing provident funds cannot be used for purchases or loans. But you can make a slight modification, that is, buy the kind of ground-floor residences facing the street. These ground-floor residences can be used as storefronts, and the land is not commercial in nature, so you can use the housing provident fund.

Legal Basis

"Housing Provident Fund Management Regulations"

If employees have any of the following circumstances, they can withdraw the balance in the housing provident fund account: 1. Purchase , Build, renovate, or overhaul self-occupied housing; 2. Retire or retire; 3. Completely lose the ability to work and terminate the labor relationship with the unit; 4. Move abroad to settle; 5. Repay the principal and interest of the self-occupied housing loan; 6. , renting a house for self-occupation; (employees and their spouses who do not own their own houses in Beijing and live in public rental housing or commercial housing can withdraw the housing provident fund of both spouses to pay the rent.) 7. Living in difficulty and receiving the urban minimum living standard 8. Those who encounter emergencies that cause serious difficulties in family life; 9. Those who work in cities and terminate their labor relations with their units; 10. Those who are sentenced, sentenced or have reached the national statutory retirement age during their employment or upon expiration of their sentences ;11. Death or declaration of death; If an employee withdraws the housing provident fund under the circumstances 1, 5, 6, 7, and 8 of Article 4 of these Measures, the spouse can withdraw the housing provident fund from his or her account at the same time.

Warm reminder

The above answers are only based on the current information and my understanding of the law. Please refer to it with caution!

If you still have questions about this issue, it is recommended that you sort out the relevant information and communicate with professionals in detail.

Can provident fund be withdrawn from the mortgage loan for purchasing a shop?

If you apply for it at the Bank of China in Shenzhen, you cannot apply for provident fund loans for non-residential properties such as shops and office buildings. Since the policies and requirements for handling personal housing provident fund loans vary among local housing provident fund management centers, you need to consult the provident fund loan business outlet or the local provident fund management center for details.

The above content is for your reference, please refer to actual business regulations.

Can provident fund loans be used for shops?

If you apply for a personal housing provident fund loan from the Bank of China in Shenzhen, you cannot apply for a provident fund loan to purchase shops and office buildings.