There is often a question for the majority of people who use a public-capital loan to purchase property: can and can early repayment be made? Also, is there a limit on the number of early payments of the Provident Fund? We will discuss the answers to these questions in this article。

Do you have a limit on the number of advanced payments to the Provident Fund

In addition to low interest rates, one of the main advantages of Provident Fund loans is that there is no limit on the number of early repayments. However, specific rules need to be noted that the maximum number of early repayments of a single SRF loan does not exceed six. Moreover, the borrower could not file an application for early repayment on the agreed date and the day before. Moreover, the principal amount paid in advance must be less than the balance equal to the loan and must be several times the sum of $10,000. In fact, these provisions may be slightly modified according to the different regions, and users, before opting for early repayments, recommend that details be sought in advance from the local Provident Fund management centres。

What, then, are the steps for early repayment of the Provident Fund

First, you need to prepare the necessary documents, including personal identification documents, information relating to the repayment card and other necessary materials。

2. You will then have to complete an application for early repayment。

3. Once a formal application is submitted, the next step is to wait for approval. After approval, the relevant department sets the date of repayment and informs the borrower。

4. The last step is to repay the bank and send the repayment forms to the Provident Fund Management Centre for archiving。

It is hoped that the above information and steps will help those who are using or are preparing to use the Provident Fund to have a clearer understanding of the process of early repayment。