Section 18(7) in State Bank of India Employees Provident Fund Regulations, 2015
(7)In the case of withdrawal under clause (a) of regulation 16 for re-payment of loan, the loan shall be repaid within three months of withdrawal.B. (1) The withdrawal shall not be permitted for any purpose specified in clause (e) of regulation 16 unless the trustees are satisfied that-(a)the member does not own a house at the place of his duty or at the place where he intends to reside after retirement and that only one house shall be built, acquired, or redeemed by the member at such place;(b)the sum which he proposes to withdraw is actually required for the purpose;(c)such sum together with the private savings, if any, of the member would be sufficient for that purpose;
