On October 15, the Chengdu Housing Provident Fund Management Committee announced the implementation of a new regulation, titled “Management Measures for the Conversion of Commercial Personal Housing Loans to Housing Provident Fund Personal Housing Loans.” Starting today, residents can apply for commercial-to-public loans.
This policy adjustment sees an increase in the maximum loan amounts for both single and joint contributors. A single contributor can now borrow up to 600,000 yuan, while joint contributors can access up to 1 million yuan. Additionally, the previous differences in loan limits for first and second homes for joint contributors have been eliminated, creating a unified standard of 1 million yuan. Families with multiple children and those looking to upgrade their homes can benefit from loan amounts that are raised by 20%, reaching a maximum of 1.2 million yuan. This aims to support residents in meeting their housing needs and alleviating the pressures of home purchasing.
Moreover, the policy expands the eligibility for withdrawal support for home purchasing. Contributors who buy property in Chengdu before the end of 2025 can now have their parents and children apply to withdraw funds from the provident fund as well. This initiative encourages family cooperation in purchasing homes, lightening the financial load, and lowering the barriers for young people and new residents establishing themselves in Chengdu. The existing rule that allows contributors and their spouses to withdraw funds monthly for five years post-purchase remains in effect. Previously, if a contributor had made a rental withdrawal in a given year, they couldn’t apply for a withdrawal for home purchase or loan repayment within the same year. To address the typical financial strain faced during home buying, the Chengdu Provident Fund Center has optimized these withdrawal regulations. Notably, rental withdrawal amounts from the past 12 months can now be included in the loan calculation, effectively supporting transitions from renting to owning.
Additionally, the policy removes restrictions for contributors purchasing homes outside their working or registered locations within the province, reflecting new trends in regional development and personnel movement. This change is expected to promote a steady and healthy growth in the Sichuan real estate market and support the development strategy of simultaneous urban-rural integration and the collective advancement of five districts.
Finally, the new regulation allows contributors to convert eligible commercial housing loans into housing provident fund personal loans. Contributors buying homes within Chengdu can withdraw provident funds for their parents or children within the stipulated time frame. The updated provident fund policy demonstrates a commitment to facilitating transitions from renting to owning. Contributors who have withdrawn for renting within the same year may also apply for withdrawals for purchasing homes or repaying mortgages. Furthermore, amounts withdrawn for rent in the past year can count towards the loan amount when applying for housing provident fund loans.
This new set of regulations is effective immediately upon issuance and supersedes any existing regulations that conflict with it.
