Can the property maintenance fund deposit interest in the bank?

Property maintenance funds cannot be deposited in banks to earn interest.

Property maintenance fund refers to the funds earmarked for the maintenance, renewal and transformation of * * * parts and * * * facilities and equipment after the expiration of the property warranty period. According to the relevant regulations, these funds should be managed by the property management company or the owners' committee, and can only be used for designated purposes and shall not be used for other purposes. Therefore, the property maintenance fund cannot be deposited in the bank to earn interest. Because the money is not the private property of an individual or company, but owned by all owners, it must be earmarked and cannot be used or moved without authorization. It is illegal for the property management company or the owners' committee to deposit the maintenance fund into the bank to obtain interest without authorization, and serious cases may be illegal.

The purpose of the property maintenance fund is as follows:

1. Maintenance of public parts: The property maintenance fund is used to pay for the maintenance of public parts such as roofs, external walls, elevator rooms and fire-fighting facilities within the property management area. The damage and maintenance of these parts is a major event related to the normal operation of the whole property management area and must be dealt with in time.

2.* * * Facilities and equipment maintenance: * * Facilities and equipment, including elevators, lighting, fire fighting and water supply and drainage systems, are necessary for the daily life of residents in the property management area. The property maintenance fund is used to regularly maintain and maintain these facilities and equipment to ensure their normal operation.

3. Emergency treatment: The property maintenance fund is also used to deal with emergencies, such as the failure of facilities and equipment caused by sudden rainstorm and the rupture of water supply pipelines. These incidents need to be dealt with in time so as not to affect the normal life of residents.

4. Supplementary funds under special circumstances: under some special circumstances, such as renovation of facilities and equipment, renovation of public areas, etc. The property maintenance fund can provide financial support. This will help to improve the overall quality of the property management area and the quality of life of residents.

To sum up, the property maintenance fund is a special fund set up to ensure the normal operation of public parts and facilities in the property management area and ensure the quality of life of residents. In the process of use, we should follow the principles of earmarking, rational use, scientific management and information disclosure to ensure the safe and effective use of funds.

Legal basis:

Measures for the administration of residential special maintenance funds

Article 7

The owners of commercial housing and non-residential housing shall deposit special housing maintenance funds according to the construction area of their own property, and the amount of the first special housing maintenance funds deposited per square meter of construction area is 5% to 8% of the cost per square meter of local residential construction and installation projects. The competent departments of construction (real estate) of the people's governments of municipalities directly under the central government, cities and counties shall, according to local conditions, reasonably determine and announce the amount of the first-phase residential special maintenance fund deposited per square meter of construction area, and make timely adjustments.