Provident funds are part of our wages, and companies and we each pay half. This little vault can do a lot of things for us -- buying houses, paying rent, shopping. But what do you know about the deductions from the Provident Fund loan? Let's explore together。

How can a child buy a house with a parent's equity loan

We all have to bind a personal bank card when we apply for a Provident Fund loan. By the date of repayment, the system automatically removes the amount due from this bank card, which is a very tight time and does not require manual intervention。

In addition, we can ask the bank to withdraw sufficient funds from our Provident Fund account to repay the loan. In this way, it is commonly known as the Provident Fund。

There is another way we can draw funds from the Provident Fund account. For example, some prefer to draw a portion of the amount from the Provident Fund each year for early repayment of loans。

Interestingly, if you want to buy a house, but you don't have enough of your own, you can actually borrow from parents'. This process can proceed smoothly, provided that the corresponding supporting documentation, such as a household register, is available. In turn, parents may use the child ' s housing fund, the specific use and amount of which will be determined according to the type of house to be purchased (new or second-hand) and the payment (full or loan) and possible sources of credit。

These are the ways in which the Provident Fund loans are repaid, and it is hoped that this information will help you understand and use your own Provident Fund。