Provident fund usually refers to housing provident fund, sometimes also refers to company provident fund.

The housing provident fund refers to the long-term housing savings deposited by state agencies, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions, private non-enterprise units, social groups and their employees.

The housing provident fund system is actually a housing security system and a form of monetization of housing distribution.

The housing provident fund system is an important housing social security system stipulated by national law and is mandatory, mutually supportive, and protective.

Units and individual employees must fulfill their obligations to pay housing provident funds in accordance with the law.

The housing provident fund paid by individual employees and the housing provident fund paid by the unit for them are stored in special accounts and belong to the individual employees.

Provident fund loans refer to loans enjoyed by employees who have paid housing provident funds. According to national regulations, all employees who have paid housing provident funds can apply for personal housing provident fund loans in accordance with the relevant provisions of provident fund loans.

Provident Fund Loan Conditions The conditions for the loan are: the unit's current employees sign a labor contract for more than 3 years (or sign a 1-year labor contract for 3 consecutive years); pay the housing provident fund normally and continuously on a monthly basis for more than a certain period; do not exceed the legal retirement age; borrow money

The borrower has a stable economic income and the ability to repay principal and interest; the borrower agrees to handle housing mortgage registration and insurance; provides a guarantee method agreed by the local housing fund management center and its affiliated sub-center; and submits relevant documents required by the bank, such as a house purchase contract or house purchase contract.

Pre-sale contract, house ownership certificate, land use certificate, proof of provident fund deposit, etc.

Loan conditions 1. 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.

2. Those who participate in the housing provident fund system must also meet the following conditions when applying for a housing provident fund personal home purchase loan: that is, they must have continuously paid and deposited the housing provident fund for no less than six months before applying for a loan.

This is because if employees’ behavior of paying housing provident funds is abnormal and intermittent, it means that their income is unstable and risks will easily arise after the loans are issued.

3. One spouse has applied for a housing provident fund loan. Before the spouse has repaid the principal and interest of the loan, neither spouse can obtain another housing provident fund loan.

Because housing provident fund loans are financial support provided to meet the basic housing needs of employee families, and are a type of "housing security" financial support.

4. When a loan applicant applies for a housing provident fund loan, in addition to having a relatively stable economic income and the ability to repay the loan, the loan applicant must have no other debts that have not yet been repaid in a large amount that may affect the repayment ability of the housing provident fund loan.

When employees are burdened with other debts, granting housing provident fund loans is very risky and violates the principle of safe operation of housing provident funds.

5. 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.