Good news! Foshan provident fund loan repayment can be withdrawn every month, no house, rent a year can withdraw 10,000 yuan! Put your CPF money to good use!
Foshan Provident Fund can be withdrawn once a month
Previously, Foshan issued the Administrative Measures for the Deposit, Withdrawal, Loan, and Flexible Employment of Housing Provident Fund, which came into effect on March 1, 2024.
Among them, in order to alleviate the pressure of employees to repay loans, the Foshan Provident Fund's "Repayment of Principal and Interest Withdrawal Policy for Housing Loans" has been added: it can be withdrawn once a month.
According to the "Withdrawal Measures", after depositing the employee loan to buy a house, during the loan repayment period, the housing provident fund can be withdrawn once a month, and if the housing provident fund loan is handled in the city, the balance of the housing provident fund account will be offset against the housing provident fund loan on a monthly basis.
Before, it was withdrawn once every six months at the earliest, but now it can be received every month, and Guichengjun will teach you how to operate quickly.
1. Open the official account of "Foshan Provident Fund" and click [Service] - [Personal Online Service].
2. Click [Business Hall] to enter [Repayment of Principal and Interest Withdrawal of Housing Loan (Including Renewal)].
3. Click [I want to extract] - select [Associated Housing Address] - select [OK].
4. Terminate the original agreement and re-sign the contract, and select [Once a month] in the "Deduction Frequency".
5. Finally, after the review is passed, click [Withdrawal] on the home page of the provident fund to enter the "Personal Withdrawal Business" to check the progress.
After the change is successful, the provident fund can be automatically credited to the account every month, and you don't need to repay the loan for half a year first, which can effectively reduce the pressure of loan repayment! The annual withdrawable amount of the provident fund is 10,896 yuan, and if you don't buy a house, you can also withdraw it! In July 2023, Foshan Provident Fund announced a new withdrawal policy, and the amount that can be withdrawn from July 2023 to June 2024 is 10,896 yuan.
Employees who contribute to the housing provident fund:
According to the Notice of the Foshan Housing Provident Fund Management Center on Adjusting the Withdrawal of Housing Provident Fund to Pay Rent in Foshan (Fofang Jinguan [2023] No. 29), the relevant standards for rental withdrawal in Foshan in 2023 (July 2023 to June 2024) are hereby announced as follows:
1. The maximum amount that can be withdrawn for renting commercial housing
The maximum monthly withdrawable amount for renting commercial housing is 908 yuan (the average monthly wage of on-the-job employees in urban non-private units in Foshan in 2022 is 9,078 yuan×10%, rounded), and the maximum annual withdrawable amount is 10,896 yuan.
2. The maximum amount that can be withdrawn for multi-child families renting commercial housing
The maximum monthly withdrawable amount for multi-child families renting commercial housing is 5,447 yuan (the average monthly wage of on-the-job employees in urban non-private units in Foshan City in 2022 is 9,078 yuan ×60%, rounded), and the maximum annual withdrawable amount is 65,364 yuan.
3. Validity period of the notice
This notice will come into effect on July 1, 2023 and will be valid until June 30, 2024.
Foshan Housing Provident Fund Management Center
June 27, 2023
According to the latest withdrawal policy, from July 2023 to June 2024, the maximum annual withdrawal amount for renting a house is 10,896 yuan; High-level talents can withdraw up to 32,688 yuan per year; Families with many children can withdraw up to 65,364 yuan per year.
The withdrawal year is from July 1 of the current year to June 30 of the following year, and it is not retroactive. There is an option to withdraw annually or monthly.
If you are not in a hurry to use your money and do not manage your money, then let the money continue to lie on the CPF account. If you are short on money, the money in the provident fund can be saved!
The three new policies of the provident fund to facilitate the people and benefit the people have been implemented
In addition, from March 1, the Foshan Housing Provident Fund Management Center has implemented the new policies of loans, withdrawals and deposits.
Household registration restrictions have been lifted for loans
Article 8 of Chapter II of the Measures for the Administration of Personal Housing Loans of Foshan Housing Provident Fund stipulates that employees who have paid into the housing provident fund purchase, build, renovate or overhaul their self-occupied houses in the city may apply for provident fund loans as borrowers in accordance with the provisions of these Measures. The borrower shall be a natural person with full capacity for civil conduct, a housing property owner or his/her spouse, and has not reached the statutory retirement age stipulated by the state.
If there are multiple property owners in the same house who meet the conditions for provident fund loans and are not from the same family, only one of the property owners' families can apply for a provident fund loan, and all property owners and their spouses should be co-mortgagors.
If both husband and wife are borrowers for the same provident fund loan, a main borrower shall be determined.
02
Loan repayment business was added
Article 39 of Chapter 6 of the Measures for the Administration of Personal Housing Loans of Foshan Housing Provident Fund stipulates that if the borrower pays the housing provident fund in the city, he shall handle the housing provident fund repayment business at the same time when applying for the provident fund loan, that is, the provident fund center is authorized to use the funds from the personal account to directly offset the principal and interest of the personal housing loan repayment of the housing provident fund every month according to the agreement, and the offsetting order shall be implemented according to the agreement. When the balance of the borrower's personal account is insufficient, the shortfall will be deducted from the repayment bank account to replenish the shortfall. The borrower shall deposit the full amount of the principal and interest of the current loan into the repayment bank account before the repayment date every month.
03
Increase the maximum loan amount for CPF loans
The notice of the Foshan Housing Provident Fund Management Center on clarifying the relevant matters of personal housing provident fund loans stipulates that following the principle of "deposit before loan, deposit and loan linkage", the city's provident fund loans implement differentiated loans, that is, different payment times correspond to different maximum loan amounts. If a husband and wife jointly apply for a provident fund loan and meet the conditions for a provident fund loan (hereinafter collectively referred to as a double-deposit employee family), the determination of the deposit time shall be subject to the main borrower. When high-level talents who have paid into the housing provident fund in the city apply for provident fund loans, the deposit time shall be determined according to the ≥ 36 months. The details are as follows:
(1) Implement the first set of housing provident fund loan policies:
(2) Implement the second set of housing provident fund loan policies:
(3) For the purchase of the first owner-occupied housing and the purchased housing is a commercial housing that meets the green building standard of two stars or above, the maximum loan amount will be increased by 10%.
(4) For the purchase of the first owner-occupied housing and the purchased housing has been identified as commercial housing for prefabricated construction projects, the maximum loan amount will be increased by 10%.
(5) For families with many children (more than three children) to purchase their first owner-occupied house, the maximum loan amount will be increased by 10%.
(6) For those who meet the above (3), (4) and (5) conditions at the same time (excluding high-level talents), the floating proportion can be cumulative.
(7) The above (3), (4) and (5) situations do not apply to high-level talents, and if high-level talents purchase the first house of a family in Foshan, the maximum loan amount shall be implemented in accordance with the relevant loan provisions of the city's high-level talents.
Please feel free to forward and spread it so that more people know!
Source: Foshan Provident Fund, Foshan Tong, Foshan Leju
Editor: Luo Jingwen, Foshan News Network