Have you ever been perplexed by the issue of loans after the release of the Provident Fund? 1) Can loans be made as soon as the Provident Fund accounts are unsealed? The answer to this question depends on a number of factors, such as your city, your choice of bank, your personal credit status, and the reason for the release of the Provident Fund account。

How long can you borrow from a pool account

For example, in Shanghai, if your Provident Fund account is unsealed, you will have to pay the Provident Fund for six consecutive months before you become eligible for the loan. Different cities may have different rules, so you need to look at the policy of your location。

2) The personal credit status affects the application for a loan. Even if the Provident Fund account is unsealed, a loan application may be refused if the personal credit score is lower than the bank ' s requirements. We therefore recommend that your credit records be restored as soon as possible after the release of the Provident Fund account, such as the timely repayment of credit card arrears or other loans。

You may also want to know if the Fund accounts can be drawn from in a sealed state. The answer is yes. Although it is not possible to apply for a loan under seal, if you intend to purchase a home, you can withdraw the balance from the Provident Fund account. Provisions may differ between municipalities in this matter. As an example, you need to submit a withdrawal request to the Office of the Bailiff before proceeding with it。