Can the balance of provident fund be directly deducted from mortgage? How to repay the provident fund loan?

Can the balance of provident fund be directly deducted from mortgage?

Of course. Workers only need to go to the housing provident fund management center to handle the provident fund hedging business, and they can directly deduct the housing loan with the balance of the provident fund account. For the borrower, he can repay with the balance of his provident fund account, which can be either a portfolio loan or a commercial loan. When repaying the loan, the repayment amount shall be deducted from the balance of the borrower's provident fund. If the balance of the provident fund account is insufficient, it shall be deducted from the borrower's given account.

How to repay the provident fund loan?

At present, there are two ways to repay the provident fund in most cities:

1 online processing method: the borrower can log on to the website or APP of the local housing provident fund management center, enter the personal business processing module, find the corresponding online processing entrance in the provident fund repayment window, and fill in relevant information as required.

2 Offline processing method: The borrower can also apply for monthly loan repayment at the service window of the entrusted bank or provident fund management center with his ID card, fill in the relevant application form as required, and deduct the repayment amount from the balance of the borrower's provident fund account from the second month after signing the agreement with the bank for approval.

However, it should be noted that the rules for directly using the balance of provident fund to deduct loans vary from place to place. If the borrower wants to apply for directly using the balance of the provident fund to deduct the loan, he can first understand the detailed handling requirements and procedures from the local housing provident fund management center. When employees handle the deduction procedures, they should still consider it according to their own actual situation. Generally, as long as there is a balance in the provident fund account, you can handle the provident fund hedging business.