Original title: Shenyang adjusts the withdrawal and loan policy of housing provident fund

On February 21, Shenyang Housing Provident Fund Management Center issued a policy that will optimize the withdrawal of provident fund and relax the loan term of second-hand housing provident fund. The new policy will be implemented from March 1.

From March 1, Shenyang will cancel the time limit for employees to apply for withdrawing housing provident fund within two years of purchasing a house with cash when they purchase their own housing, and adjust it to that employees can withdraw housing provident fund once for themselves and their spouses when they purchase their own housing with cash. This change will allow employees to withdraw housing provident fund more freely.

Interior view of a residential area in Heping District, Shenyang. Photographed by Xinhua News Agency reporter Li Ang

Li Luping, deputy director of the Shenyang Housing Provident Fund Management Center, said, "If an employee applies for withdrawal within one year of purchasing a house, the total withdrawal amount of the employee and his spouse shall not exceed the deposit balance in the housing provident fund account. If an employee applies for withdrawal after one year of purchasing a house, the total withdrawal amount of the employee and his spouse shall not exceed the deposit balance in the housing provident fund account at the end of one year of purchasing a house."

In addition, the new policy has also relaxed the term of the second hand housing provident fund loan. From March 1, the term of the second hand housing provident fund loan for employees to purchase the second hand housing has been extended from "35 years less housing age" to "40 years less housing age". The maximum loan term is 30 years. For the employee families with certain ability to repay the loan, the loan amount is higher and the repayment pressure is lower.

Han Congli, the head of the personal loan department of Shenyang Housing Provident Fund Management Center, said, "Especially when the age of the house is between 35 and 40 years, such second-hand houses with a long completion period cannot apply for provident fund loans before. After the new policy was introduced, employees with similar housing needs can apply for provident fund loans."

It should be noted that the new policy is applicable to businesses applied for after March 1. Employees who have previously purchased their own houses shall follow the original policy.

Reporter: Li Ang

Produced by: Xinhua FM Studio

Xinhua News Agency Audio and Video Department

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