Have you ever thought about how much you'd like to have extra money to help out? Well, your housing fund could be your solution. Besides taking the money, you can use it to apply for a loan. However, you might have a question: "How long will it take to review the Housing Provident Fund loan?" We're here to give you a general answer。

How long will it take for the Housing Provident Fund audit to apply for the terms of the Provident Fund loan

The process of approving Provident Fund loans will take approximately one month. However, your waiting period has not yet been completed after the audit. Following the approval of the Provident Fund loan, you will also need to enter into a loan contract with the operating bank to process such processes as mortgage registration. When everything is done, the bank will release the loan within one or two weeks. On the day you get the money, you'll find the loan went straight into the developer's account。

SO, WHAT ARE THE CONDITIONS FOR APPLYING FOR A PROVIDENT FUND LOAN? FIRST, YOU NEED A NORMAL, CONTINUOUS RECORD OF CONTRIBUTIONS TO THE HOUSING PROVIDENT FUND FOR MORE THAN 12 MONTHS. SPECIFIC TIMES MAY VARY BETWEEN PROVINCES OR CITIES. SECOND, YOU NEED TO MAINTAIN A GOOD CREDIT RECORD, INCLUDING A RECORD OF ECONOMIC ACTIVITY SUCH AS THE USE OF LOANS, CREDIT CARDS OR QUASI-CREDIT CARDS, CREDIT, GUARANTEES, PERFORMANCE OF CONTRACTS, ETC. THIRDLY, YOU HAVE TO PAY A FIXED RATE OF DOWN PAYMENT, I.E. 301 TP3T FOR THE FIRST FLAT AND 501 TP3T FOR THE SECOND SUITE, WHICH WILL PROVE TO THE BANK THAT YOU ARE FINANCIALLY CAPABLE AND REPAYABLE. FOURTH, YOU ALSO NEED TO HAVE A STABLE ECONOMIC SOURCE AND THE ABILITY TO REPAY YOUR PRINCIPALS BEFORE THE MANDATORY RETIREMENT AGE. FIVE, YOU NEED TO AGREE TO A MORTGAGE REGISTER AND A COMPREHENSIVE LOAN INSURANCE. FINALLY, YOU NEED TO PROVIDE THE LOCAL HOUSING FUND MANAGEMENT CENTRE AND ITS SUB-CENTRES AS AN APPROVED GUARANTEE。