Let us explore in depth the related issues of the Provident Fund loans, for example, how many times can they be financed? And how do you apply for a Provident Fund loan

I've been able to borrow a few

Provident Fund loans allow us to borrow up to two times. This is valid whether you apply for it as an individual or as a family. In other words, a family may apply for a maximum of two Provident Fund loans to purchase its own housing. However, if you intend to use it to purchase shops or commercial apartments, you may encounter a refusal because these types of loans are more suitable for commercial loans from banks。

It is important to note that if the principal and interest of the loan have not yet been repaid from the first Provident Fund loan, you cannot apply for the second Provident Fund loan, as specified by the Housing Provident Fund Management Centre。

What are the requirements for applying for a Provident Fund loan

First, your personal credit record must be good. This is strictly required by the Provident Fund loan, and any late payment or frequent search of credit records may result in your application being rejected。

Secondly, you need a steady income. Only a stable income will enable you to repay the loan in full and on time every month, which will guarantee its security. In general, your monthly income needs to be at least twice as high as the monthly loan。

Third, the individual debt ratio needs to be maintained at a low level. Your liability rate is assessed during the process of granting a Provident Fund loan, and if you have a high rate of indebtedness, it may be seen as under pressure to repay the loan。

Besides, your pool balance needs to be adequate. The loan line is usually based on your account balance, typically 10-20 times the account balance, so if the account balance is insufficient, it may affect the approval of the loan。

In the end, your pool account must be in normal condition. If you have a cut-off, seal-off, write-off, etc. in the Provident Fund account, then the Centre may refuse to provide you with a loan service because your income is unstable。