If you are ready to buy a house, you have to mention the Housing Provident Fund, which is an important source of financing for the purchase of a house. But most people may not know how much they can borrow, so today let's look at the amount of credit that can be applied for in the case of a one-year housing fund deposit record。

How much is the Housing Provident Fund available for a year

The loan lines of the Housing Provident Fund are actually calculated with the participation of four main variables, including repayment capacity, housing price development, the balance of the Provident Fund account and the maximum amount of the loan. And if you're going to be a little more obvious, you can apply for as much as you want to be low in these four。

How? Wait till we get our formula: you multiply your monthly salary by the monthly amount of the Housing Provident Fund, then the repayment capacity factor, and then subtract the total monthly repayment amount of the loan that you already have, and then the loan term (month)。

If it is felt to be complex, it can also be calculated simply by reference to the balance of the Provident Fund account. As such, your loan cannot exceed 10 times the balance of the Provident Fund account at the time of your application. Furthermore, if the account balance is less than 20,000, it is calculated at 20,000。

Assuming you have a balance of $10,000 in the Provident Fund account, the loan would be ten times the amount of $20,000, i.e. a maximum of $200,000. Particular attention should be paid to the possibility of obtaining a loan of up to $400,000 if the loan is applied for using the Personal Provident Fund. In the case of the Housing Provident Fund, which is used by employees and spouses together, a loan of up to $600,000 is available。

How can I borrow from a pool loan? First, you can go to the counter below the bank line with your own materials. Bank staff will take care of you, review your personal credit, solvency and sanctuaries. Second, you can apply for loans directly online with officials of financial institutions, many of which now offer personal Provident Fund loans。