After the Provident Fund loan

Since interest rates on Provident Fund loans are low, many eligible unions have opted to use the Provident Fund for loans. If so, would it also be necessary to pay off with the Provident Fund

** Refundable from the Provident Fund**

The answer is yes. After the Provident Fund loan, the borrower can repay the loan with the money in the Provident Fund account. Of course, there is no mandatory requirement to do so, and borrowers can also use their own banker's money to repay their loans. This is mainly due on time and on a monthly basis, as prescribed by the bank。

** In which cases the Provident Fund may be drawn**

1. ** Purchase of premises**

If you buy a house on a Provident Fund loan, it needs to be noted that the withdrawal of the balance in the Provident Fund account may affect your loan line. But if you choose a commercial loan, then you can take the amount in the Provident Fund account as a down payment for the purchase of the house, or to repay the principal interest on the mortgage。

2. **Lease taken**

In accordance with the relevant provisions, tenants may apply for the drawing of the Provident Fund to pay the rent, thus reducing the stress on their lives。

3. ** To cover medical expenses for major diseases**

It is relatively large and can be used to cover medical expenses in the event of a major disease. The burden of health-care costs is greatly reduced under the dual guarantee of health insurance and the Provident Fund。

4.** Separation from service, withdrawal from retirement**

The Provident Fund is available when the employee has ceased his or her employment, retired or lost his or her working capacity, or has terminated his or her labour relationship with the employer。

** Note local differences**

While the Provident Fund loan may be repaid from the Provident Fund, specific regulations may vary from place to place. It is therefore recommended that applicants first understand local requirements before following the procedure。