As urban development and housing prices continue to rise, the Provident Fund has become an important source of financing for many people to buy housing. So, how to draw on the Provident Fund

I'm taking out the pool fund

1. What are the conditions to be met before withdrawal

First, the withdrawal of the Provident Fund presupposes that it already exists and that a certain amount is paid. Secondly, there are conditions that need to be met, such as the purchase of housing, rental of housing, repayment of mortgages, education of children, medical care, etc. The details of these conditions can be consulted at the local Housing Provident Fund Management Centre。

2. What are the modalities for drawing on the Provident Fund

There are a number of ways to draw on the Provident Fund, including on-line and off-line. This can be done online through the Housing Provident Fund website or mobile phone client, which is easier to handle; it needs to be done at the local Housing Provident Fund Management Centre, depending on local regulations. In addition, banks may be entrusted with the drawing of the Provident Fund in order to purchase or repay the loan。

3. What are the limits on the amount to be drawn from the Provident Fund

ACCORDING TO NATIONAL REGULATIONS, THERE ARE CERTAIN LIMITS TO THE AMOUNT TO BE DRAWN FROM THE PROVIDENT FUND. IN PARTICULAR, THE AMOUNT LIMIT WOULD VARY DEPENDING ON THE PURPOSE OF THE WITHDRAWAL. FOR EXAMPLE, THE PURCHASE OF A HOUSE MAY DRAW ALL OR PART OF THE BALANCE OF THE DEPOSIT IN THE PROVIDENT FUND ACCOUNT, BUT CANNOT EXCEED 701 TP3T OF THE TOTAL PURCHASE PRICE; MEDICAL CARE MAY EXTRACT ALL THE BALANCE IN THE PERSONAL ACCOUNT; AND THE EDUCATION OF CHILDREN MAY DRAW ALL THE BALANCE IN THE PERSONAL ACCOUNT, BUT MAY NOT EXCEED THE LOCAL MAXIMUM TUITION RATE, ETC. THEREFORE, BEFORE DRAWING ON THE PROVIDENT FUND, THE RELEVANT PROVISIONS SHOULD BE CAREFULLY UNDERSTOOD FOR DIFFERENT PURPOSES IN ORDER TO AVOID EXCEEDING THE LIMITS AND NOT TO BE SUCCESSFUL。

4. What is the attention given to drawing on the Provident Fund

In drawing on the Provident Fund, the following points require attention. First, to plan well in advance for the impact of the withdrawal of the Provident Fund on personal funds and for subsequent repayments; secondly, to prepare the relevant material for withdrawal, with due regard to its authenticity and validity; and lastly, to take care of their personal and financial security during the withdrawal process in order to avoid fraud。