In the sea of loans, the Provident Fund loan is a very popular route, especially for those who want to buy a house in Shanghai, it is undoubtedly important to understand the specific process and duration of the Shanghai Provident Fund loan. What steps, then, would be required to access the Shanghai Provident Fund loan channel? How long does it take? Here's all the relevant information。

Shanghai Pure Provident Fund loan process and time

To begin the journey of the Provident Fund, we need to submit a written application to the bank as a lender, with the relevant supporting documentation required。

When an application is submitted, your application for a loan is verified by the Bank and the Shanghai City Provident Fund Centre. Once the approval is approved, they will contact you and inform you of further loan processing。

Specifically, you need to sign a loan contract and any related agreement with the bank. Once these documents have been approved by the Provident Fund Centre, they will transfer the necessary funds to the loan bank and, as agreed in the loan contract, the loan will be released to you in full and on time。

If you choose to use your house as collateral, you must register your property. A mortgage contract or agreement requires the consent and signature of both spouses. If you choose to use the security as collateral, you need to give it to management for their custody。

So how long does it take to get a loan from the start of the application to the moment? Indeed, Shanghai City Provident Fund mortgages usually take about 30 working days to be approved. Therefore, you need to set aside time in the plan to ensure that the process goes smoothly。

In general, in order to obtain the Shanghai Provident Fund loan, you need to do some necessary preparatory work, including preparing the necessary documentation, understanding the process and anticipating the time required。