How to Handle Affairs about the Housing Accumulation Fund

    Date:2018-06-30 Source:Changde Official Web Portal Fonts:[ large medium small ]

    The housing accumulation fund loan is a mortgage loan which the commercial banks, commissioned by the housing accumulation fund management centers, send to employees who have deposited the housing  accumulation funds by the time they need to purchase, construct, renovate or overhaul the owner-occupied housing or to retired employees who have paid housing accumulation funds during employment. According to relevant regulations, employees who have deposited housing accumulation funds for a certain period (the period varies in different cities; in Changsha, for example, there shall be more than 12 months) may apply for housing accumulation fund loans when they have insufficient funds for purchasing, constructing, restoring or overhauling their own houses.

     

    Housing Accumulation Fund Loan

    Legal Basis: Housing Accumulation Fund Management Regulations

    Requirements:

    If employees, self-employed households/people, or freelancers with complete civil capacity have deposited the housing accumulation funds in the housing fund management center of Changde for more than 6 months from the date of account opening and there are no outstanding records for three months before applying, they can apply for housing accumulation fund loans when purchasing, constructing, or overhauling their own houses in Changde; employees who have paid housing accumulation funds in other places but want to purchase an owner-occupied house in Changde, can apply for housing accumulation fund loans as long as they have a permanent residence in Changde for more than one year. Applicants must meet the following requirements:

    (1) Loans shall be used to purchase, construct or overhaul self-occupied houses. 

    (2) For depositors who want to purchase the first set of self-occupied house, or those who own one set of house and now applies for the housing accumulation fund loans to buy another owner-occupied housing for the purpose of improving the family living condition, the minimal down payment ratio is 20%.

    (3) Depositors who have applied for housing loans twice (including commercial bank housing loans) is not allowed to apply for housing accumulation fund loans again.

    (4) The depositor shall have a good reputation, a stable income, and the ability to repay loan principal and interest on schedule.

    The ability of the applicant and his/her spouse to repay the loan principal and interest each month is determined as:

    the monthly principal and interest of the applicant and his/her spouse shall not exceed the total monthly salary of either of them; if the applicant is single, it shall not exceed 50% of the applicant’s total salary; other loans and liabilities (including loans and debts with which the applicant guarantees for others) shall be calculated together with the principal and interest of housing accumulation fund loans;

    (5) The applicant shall agree the repayment and the guarantee way prescribed by the management center;

    (6) The credit card accounts of the applicant and his/ her spouse shall be in normal state, and there shall be no more than 12-time overdue overdrafts totally in the past 24 months;

    (7) For the applicant and his/her spouse, there shall be no more than 3-time overdue payments currently, and less than 12 times totally.

    Procedures:

    The applicant submits an application → The Management Department conducts a pre-loan investigation on the applicant →A loan audit meeting is convened to decide whether grant or reject the loan within 10 working days from the date of accepting the application, and the applicant is informed of the results → If the application is approved, a housing accumulation fund loan contract shall be signed between the Management Department and the applicant → After the loan contract is signed, the applicant shall legally register for the real estate mortgage, handle relevant guarantee procedures and provide the real estate registration certificate → The loan is granted by the Management Department

    Loan Amount, Term, Interest Rate and Repayment

    (I) Loan Amount

    1. The ceiling of the loan is 400,000 yuan ordinarily and 500,000 yuan for couples who have both deposited the housing accumulation funds.

    2. For the applicants who purchase the first or the second housing, the amount of the housing accumulation fund loans shall not exceed 80% of the value of the house (new houses are calculated on the basis of the sale price); for those who overhaul self-occupied houses, it shall not exceed 60% of the overhaul cost.

    3. Applicants who transfer from the commercial bank’s personal housing loans to housing accumulation fund loans shall make an application according to the housing accumulation fund loan program after settling the commercial bank loans. The loan amount shall not exceed the applicant’s loan settlement amount in commercial banks nor the maximum limit of the housing accumulation fund loans for one family.

    4. The loan amount shall be calculated on the basis of the applicants’ loan repayment ability.

    5. The price of second-hand housing is defined as the lowest price among the deed tax price, the assessment price, and the purchase price.

    The lowest value calculated though the method above serves as the approved loan amount.

    6. If the loan period is less than one year, and one-off repayment is conducted on time, the loan amount shall not exceed the total annual income of husband and wife (including the housing accumulation funds deposited before the maturity of the loan).

    () Loan Term

    The term of the housing accumulation fund loans shall not exceed 30 years nor the statutory retirement time of the applicants.

    () Loan Interest Rate

    The loan interest rate is based on the interest rate standard for the housing accumulation fund loans promulgated by the People’s Bank of China. If the loan term is one year or less, one-off repayment of principal and interest shall be implemented with the same interest rate as that in the period of making an application for a loan; if the loan period is more than one year, the interest rate shall be subject to interest rate adjustments so that the interest rate shall be paid on the basis of the new interest rate regulations implemented on January 1st of the following year.

    () Loan Repayment

    1. The housing accumulation fund loans shall be repaid through the method of equal monthly principal and interest;

    2. When applying for a loan, the applicant shall provide the bank card of the entrusted bank or the lending bank for loan receiving and repayment. 

    3. The applicant shall deposit the repayment into the repaying account in full amount every month before the specified repayment date, for example, if the loan was issued on June 16th , the applicant shall repay it before the 15th of each month.

    4. The applicant can repay the loan principal and interest in the following ways:

    A. Counter repayment: The applicant directly repays the loan by ways of cash, cheque, savings card, credit card or savings bankbook at counters specified by the entrusted banks;

    B. Entrusting deduction: The applicant can sign an entrusting deduction agreement with the Accumulation Fund Management Department, according to which, the repayment will be automatically deducted from the applicant’s bank card;

    C. The accumulation fund as monthly hedging repayment: The applicant and his or her spouse who have applied for housing accumulation fund loans can use housing accumulation fund as monthly hedging repayment.The sum of the balance of their housing accumulation funds shall be enough for one-year repayment in the monthly hedging process; the Housing Accumulation Fund Management Department must be entrusted by the applicant and his or her spouse to deduct the funds from their housing accumulation fund accounts (first from the applicant’s housing accumulation fund and then from his or her spouse’s) on a monthly basis for repaying their own housing accumulation fund loans; the monthly hedging repayment shall not exceed the monthly repayment of the applicant.

    D. The accumulation fund as annual hedging repayment: The applicant and his or her spouse who have applied for housing accumulation fund loans can use housing accumulation fund as yearly hedging repayment; if the applicant and his or her spouse apply for yearly hedging repayment, the housing accumulation funds must be deposited normally, and there shall be no continuous suspension of more than 3 months in the before 12 months; the annual repayment withdrawn by the applicant and his or her spouse’s shall not exceed the total repayment of the applicant for the past 12 months; the sum of the balance of their housing accumulation fund accounts shall not be less than the total amount of 12-month repayment after repaying the loan. The hedging repayment first comes from the applicant’s housing accumulation funds and then from his or her spouse’s.

    P.S.: Either the monthly hedging repayment or the annual hedging repayment can be chosen.

    E. When the balance of the housing accumulation funds of the applicant and his or her spouse is more than or equal to the balance of the loan, the applicant submits an application for using it to settle the loan to the Management Department.

    5. If the loan term is more than one year, the applicant may repay part or all of the loan in advance after one year. If the loan is partly repaid in advance, the amount shall be at least 20,000 yuan (the balance of the accumulation funds cannot be used for part repayment in advance). This procedure shall be handled at the loan application counter of the Management Department.

    Attention: The applicant shall repay the loan in full and on time every month. Otherwise, his or her personal reputation will bear bad records, directly set down into the credit information system of the People’s Bank of China, which is detrimental to the applicant’s application for loans and credit cards at all financial institutions in China.

    Required Materials:

    (I) Required materials for purchasing a new house:

    1. Application Form; (in duplicate)

    2. The interview record of the individual housing accumulation fund loans (filled at the counter);

    3. The original housing purchase contract and 2 copies;

    4. The original ID cards of the applicant and his or her spouse and 2 copies with both sides of the ID cards;

    5. The original marriage certificate and 2 copies. (the single applicant shall fill in the letter of undertaking about marriage at the counter; if the applicant has divorced, a divorce certificate must be provided);

    6. Applicants from the financial allocation units need to provide a financial payroll; those from corporate shall offer the past three months salary table with official seal of their corporate. Self-employed households/people and freelancers shall provide the personal income bank slips of the past six months, which must be stamped by the relevant financial institutions within their jurisdiction. (in duplicate)

    P.S.: Self-employed households/people and freelancers are also required to provide proof of social insurance payment, namely, the payment certificate of social insurance for flexible working people issued by social security department. (in duplicate)

    7. The original down payment receipt and 2 copies;

    8. The credit business authorization (filled at the counter, each for husband and wife respectively).

    9. The inquiry application form about credit report (filled at the counter, each for husband and wife).

    10. The original loan bank card and 2 copies. 

    (II) Required materials for purchasing a second-hand house:

    In addition to the required materials for purchasing a new house, the applicant shall provide:

    1. The original deed tax invoice and 2 copies;

    2. Housing evaluation report; (in duplicate)

    3. The original real estate invoice and 2 copies. 

    (III) Required materials for non-permanent Changde residents applying for the loans:

    In addition to the required materials for purchasing a new house, the applicant shall provide:

    1. The housing accumulation funds depositing certificate of employees without permanent residence in Changde (in duplicate);

    2. The applicant’s household registration certificate (in duplicate);

    3. The applicant shall ask a relative who has permanent residence in Changde and works or lives in Changde as an intermediary, and provide his or her ID card, residence booklet, address and phone number.

    Address: Municipal Housing Accumulation Fund Center and Housing Accumulation Fund Management Departments of every district and county

    Office Hours: 9:00 am-12:00 am, 13:00 pm-17:00 pm

    Fee: No charge

    Tel: 12329

    The Municipal Housing Accumulation Management Department: 0736-7256928

    Economic Development Zone Housing Accumulation Management Department: 0736-7320936

    Wuling District Housing Accumulation Management Department: 0736-7252165

    Dingcheng District Housing Accumulation Management Department: 0736-7382750

    Hanshou County Housing Accumulation Management Department: 0736-2881238

    Taoyuan County Housing Accumulation Management Department: 0736-6630511

    Linli County Housing Accumulation Management Department: 0736-5828352

    Shimen County Housing Accumulation Management Department: 0736-5335198

    Li County Housing Accumulation Management Department: 0736-3221589

    Jinshi Housing Accumulation Management Department: 0736-4223917

    Anxiang County Housing Accumulation Management Department: 0736-4335061

     

    Housing Accumulation Funds Withdrawal

    Legal Basis: Housing Accumulation Fund Management Regulations

    Requirements:

    Employees who meet one of the following requirements may apply for the withdrawal of the housing accumulation funds:

    1. Employees who purchase, renovate, construct or overhaul self-occupied housing;

    2. Employees who repay the principal and interest of the housing loans;

    3. Employees who rent houses

    4. Retired employees;

    5. Employees who terminate labor relations with units or lose working capacity entirely;

    6. Employees who settle abroad or overseas;

    7. Employees who died, were declared dead or missing;

    8. Other requirements and circumstances stipulated by the Municipal Housing Accumulation Fund Management Center;

    (1) employees or their spouses, children, parents or parents-in-law suffering from major diseases, or employees who suffer from major traffic liability accidents or major disasters;

    (2) employees who pay the housing maintenance funds;

    (3) employees who pay property management fees.

    Required Materials:

    Employees who meet the above-requirements shall submit basic materials and withdrawal proof to the Housing Accumulation Fund Management Center or Management Department within the time limit.

    (I) Basic Materials:

    1. The original and the copy of the employee’s ID card; if the employee’s spouse is involved in the matter, his or her ID card, the marriage certificate, or the original and the copy of the residence booklet are required; if the third party is entrusted, his/her ID card and the original and the copy of entrusting letter shall be provided;

    2. The employee’s I bank card.

    (II) According to different requirements, employees shall also provide different certification materials within the time limit:

    Procedures: 

    I. Application. Employees who meet the requirements shall make an application for withdrawal in the Housing Accumulation Fund Management Department with relevant certification materials within the time limit.

    II. Acceptance and Check:

    1. The staff of the Management Department shall check the submitted materials;

    2. The staff shall select the eligible applicants, enter their relevant information into the withdrawal system, and scan the files;

    3. The stall shall verify the applicants’ bank cards.

    III. Recheck:

    1. The responsible leaders of the Management Department shall recheck every withdrawal file and the information entered in the withdrawal system.

    2. The responsible leaders shall deliberate and approve the eligible applicants.

    IV. Withdrawal of Funds: The withdrawal order shall be sent to the Fund Accounting Department and the fund will be sent to the applicants’ bank card by the financial staff.

    Processing Period:

    If it is approved on-site, it will be handled in the field; if not approved, the applicants shall be informed of the reasons within 2 working days.

    Address: Municipal Housing Accumulation Fund Center and Housing Accumulation Fund Management Department of every district and county

    Office Hours: 9:00 am-12:00 am, 13:00 pm-17:00 pm (except official holidays)

    Fee: No charge

    Tel: 12329

    The Municipal Housing Accumulation Management Department: 0736-7256928

    Economic Development Zone Housing Accumulation Management Department: 0736-7320936

    Wuling District Housing Accumulation Management Department: 0736-7252165

    Dingcheng District Housing Accumulation Management Department: 0736-7382750

    Hanshou County Housing Accumulation Management Department: 0736-2881238

    Taoyuan County Housing Accumulation Management Department: 0736-6630511

    Linli County Housing Accumulation Management Department: 0736-5828352

    Shimen County Housing Accumulation Management Department: 0736-5335198

    Li County Housing Accumulation Management Department: 0736-3221589

    Jinshi Housing Accumulation Management Department: 0736-4223917

    Anxiang County Housing Accumulation Management Department: 0736-4335061

     

    Accumulation Fund Deposit

    Legal Basis: Housing Accumulation Fund Management Regulations

    Requirements:

    I. Qualified Applicants:

    The following people who have full capacity for civil conduct within the administrative area of Changde (male younger than 60, female, 55) may apply for housing accumulation fund deposit and enjoy the rights stipulated in Housing Fund Management Regulations and other relevant documents. 

    1.self-employed households/people;

    2. freelancers (flexible working people).

    II. Requirements for Deposit:

    1. Self-employed households/people applying for housing accumulation funds shall meet the following requirements:

    A. Business period: It must be more than one year, counted from the approval date of the business license;

    B. Business site: Within the administrative region of Changde;

    C. The applicant also needs to have the tax invoice or tax exemption certificate of the past 6 months.

    2. Freelancers (flexible working people) shall meet the following requirements:

    A. Having permanent residence in Changde

    B. Paying social insurance for the past 6 months or more in the Social Security Department in Changde.

    Required Materials:

    I. Required materials for people opening the new accounts:

    1. A Final Settlement Form for Housing Accumulation Funds of Changde;

    2. An Account Opening Final Settlement Form of Housing Accumulation Funds;

    3. A copy of the unified social credit code certificate, a business license or a certificate of public institution with legal person status.

    P.S.: Both forms can be downloaded in Changde Housing Accumulation Fund Website, and all materials need to be stamped with official seals.

    II. Required materials for individual depositors when handling the registration and account-opening procedures:

    1. Filling in the Final Settlement Form of Housing Accumulation Funds for Individual Depositors;

    2. The original and the copy of the depositor's ID card;

    3. Self-employed households/people shall provide the original and the copy of business license;

    4. Self-employed households/people shall provide the original and the copy of the tax invoice or tax exemption certificate of the past 6 months.

    5. Freelancers (flexible working people) shall provide the original and the copy of social insurance certificate of the past 6 months in Changde;

    6. Filling in the Entrusting Agreement which entrusts banks to collect the housing Accumulation funds of the individual depositors

    Procedures:

    1. Application for opening the account;

    2. The staff of the Management Department will review and enter the application materials;

    3. The staff of the Management Department will scans the materials;

    4. Materials filing

    Address: Municipal Housing Accumulation Fund Center and Housing Accumulation Fund Management Department of every district and county

    Office Hours: 9:00 am-12:00 am, 13:00 pm-17:00 pm

    Fee: No charge

    Tel: 12329

    The Municipal Housing Accumulation Management Department: 0736-7256928

    Economic Development Zone Housing Accumulation Management Department: 0736-7320936

    Wuling District Housing Accumulation Management Department: 0736-7252165

    Dingcheng District Housing Accumulation Management Department: 0736-7382750

    Hanshou County Housing Accumulation Management Department: 0736-2881238

    Taoyuan County Housing Accumulation Management Department: 0736-6630511

    Linli County Housing Accumulation Management Department: 0736-5828352

    Shimen County Housing Accumulation Management Department: 0736-5335198

    Li County Housing Accumulation Management Department: 0736-3221589

    Jinshi Housing Accumulation Management Department: 0736-4223917

    Anxiang County Housing Accumulation Management Department: 0736-4335061


    【Print】【Close】

    Share:

Produced By 大汉网络 大汉版通发布系统