Can all provident funds be withdrawn? What are the uses of taking it out?

Under normal circumstances, the provident fund is not allowed to be withdrawn in full. It can only be withdrawn in full if the requirements are met, such as building and renovating one's own house, paying off mortgages, renting a house, and having difficulties in living. People who enjoy urban subsistence allowances and have completely lost their ability to work can try to apply to withdraw their provident funds.

Except for the above circumstances, the full amount of provident fund can only be withdrawn under special circumstances such as retirement, death or immigration of the insured person. It is worth mentioning that the provident fund can only be withdrawn once in a year. If it is used to purchase a house, the provident fund needs to be collected within one year after the contract is signed.

The main purpose of provident fund is to buy and rent a house:

1. Provident fund for house purchase

Provident fund for house purchase is mainly divided into two forms: loan and withdrawal. Housing provident fund loans have more favorable interest rates, so many people choose to purchase houses through housing provident fund loans. The provident fund withdrawal is used to purchase a house or repay a housing loan through the provident fund.

2. Provident Fund Rental

When you have difficulty paying the rent, and if the conditions are met, you can apply to withdraw the provident fund to reduce the pressure of life.

3. Provident fund subsidizes living expenses

In addition, if you really have difficulties in living, for example, you are a subsistence allowance household, or you have lost your ability to work due to death from illness, Provident funds can also be used to reduce financial pressure.