Let's talk about the Provident Fund as a personal savings system for employees. If you're thinking about buying a house, then a Provident Fund loan might be your ideal option, which could help you alleviate economic stress. Then there's a question that you might be concerned about, is whether you can cash the balance of the account after you have applied for and processed the Provident Fund loan. The answer is yes. You can take out the pool of accounts. Let me explain the specific process。

Can the balance of the account be cashed after the build-up

First, you have to submit a cash withdrawal application to the Provident Fund Centre, at which point you have to provide an identity card and a copy of it, as well as the corresponding supporting documentation to the unit, as required, and then complete the application form with a pre-encumbrance stamp. Then you can take this information and get a withdrawal at the Housing Fund Management Department, where your account was originally deposited. After the on-site staff members have verified that your information is correct, they will make a withdrawal for you and will hand over the originals and the relevant information to you as soon as you confirm that the receipt order is correct. Finally, the amount to be drawn from the Provident Fund will be transferred to your pool card savings account。

With regard to the conditions for applying for a Provident Fund loan, you need to note the following. Only participants in the Provident Fund system are eligible to apply for a Provident Fund loan. The conditions also include a minimum of six months of continuous contributions prior to the application for the loan, to show that your income is stable and does not increase the risk of the loan. Moreover, if your spouse has applied for a Provident Fund loan that has not been repaid, you cannot do so because the purpose of the Provident Fund loan was to meet the basic housing needs of each working family. When applying for a Provident Fund loan, you need a stable source of income and repayment capacity. If you have other large obligations, it may not be appropriate to apply because it increases the risk and violates the principle of safe operation of the Provident Fund. It is to be noted that the duration of the Provident Fund loans is no more than 30 years。