In fact, for small partners who live in rented housing, the provident fund can draw directly on the deduction of rent, at a very low threshold. Currently, the mainstream is divided into two types of extraction, suitable for different rental scenarios, with options available on an as-needed basis。
General uncontracted rentals (nationally)
This is the most economical and accessible way of extracting, without the need to provide a rental contract, without the need to file a file, and with a simple and online process。
- drawing: a maximum of $2,000 per month and a cumulative maximum of $24,000 per year, sufficient to cover most of the expenditure on recently needed housing。
- persons covered: ordinary rentals, private rentals, battered workers who cannot easily file contracts。
Pilot direct rent withdrawal (specially for intermediate rental)
For those renting through formal intermediaries, some of the pilot municipalities supported direct rent deductions from the provident fund, significantly reducing rental pressures。
Key notes
1. The policy is currently a pilot policy, implemented only in some cities, such as beijing, and not in others
2. The extent of the credit: only the rental of the house may be paid, and the deposit for the rental of the house and the services of the intermediary must be borne by the individual and not covered by the provident fund credit
3. Rule on crediting: if the personal provident fund account has a higher payable balance than the actual rental cost, the deduction is based on the actual rental amount; if the balance of the fund account is lower than the rental cost, the deduction is based on the existing provident fund contribution balance。
4. The local housing provident fund management centre may be consulted directly by precision policy, pilot scope, on the basis of official updates。
Conditions for direct payment of rent
This approach is intended for pilot areas only, and all the following conditions are to be met:
1. The provident fund shall be paid in full for a continuous period of three months or more
2. Depositors and their spouses who have no home in the administrative district of beijing
3. Rented houses are those identified as pilot projects by the provident fund centre and the lease contract has been officially registered。
Time requirement for application
Applications may be submitted at any time during the life of the filing of the tenancy contract (the application limits before the original lease date have been optimized and the inventory contract can be processed normally) and more flexible。
