Provident Fund loans are usually an affordable option when we consider the purchase of property. The Provident Fund is part of the monthly payroll deduction, but if you change jobs or stop working, it will stop paying. So, is it possible to stop paying the Provident Fund after loans through the Provident Fund

Can you stop paying after the Provident Fund loan

In fact, you can stop paying the Provident Fund after using the Provident Fund loan, but remember, the cut-off period cannot exceed the required time. If the payout is suspended for more than 24 months and has not been replenished, your Provident Fund loan contract may be cancelled. The Housing Provident Fund Management Centre has the right to require the borrower to repay the remaining loan in one-time or to convert the loan into a commercial loan。

Of course, there are also constraints in the Provident Fund system, which requires users to pay the Provident Fund on a continuous basis during the loan period. If you do not pay the Provident Fund in full and on time during the loan period, you need to pay the loan as soon as possible, on the basis of expediency. During this period, the interest rate on outstanding loans will temporarily increase to the same rate as the base rate on commercial loans。

You might be curious about the implications of the suspension. First, the break-up of the Provident Fund primarily affects those who already have or intend to apply for the Fund and has little direct impact on others. Moreover, if you have applied for a loan from the Provident Fund and you have not paid the Provident Fund for a long period of time, the Housing Provident Fund Management Centre may calculate the remaining loan at the commercial loan rate as stipulated in the contract. On the other hand, if you are prepared to apply for a Provident Fund loan, you will have to pay the Housing Provident Fund for at least six consecutive months, and at the time of application you will be in a contributing state. In exceptional circumstances, the withholding of the Provident Fund for a period of up to three months as a result of a change of job may be resolved by a payback; however, if the payout exceeds three months, you will have to re-pay the six-month amount。

Finally, let us remember that the housing pension system is in fact a guarantee system, a form of monetization of housing distribution. This is all the relevant knowledge about whether "suspension of the Provident Fund can be suspended after the loan". I hope this information will help you。