22 June 2024
The Management Centre of Foshan Municipal Housing Provident Fund (“the authorities”) issued the “Notice in relation to Adjusting the Loans Matters related to Individual Housing Provident Fund” (“the Notice”) on 22 June 2024. The authorities proposed that the down payment ratio for provident fund loans should not be less than 20%. For couples applying for a joint provident fund loan with a contribution period exceeding 36 months, the maximum loan amount is RMB1 million. The Notice is effective from 1 July 2024 and valid until 1 July 2029.