The Fund of compulsory saving for housing, known as faov, is a system created for workers whether they are dependent or independent contribute to a mandatory savings fund with the purpose of benefiting from a credit for housing in advantageous conditions in terms of the interest rate and repayment term. The faov is a system framed within the housing policy to give access to the financial resources the population of minor resources that require credit for housing so that it is accessible according to its capacity of payment, and in proportion to the mandatory savings fund that sets the housing policy law. One of the requirements which establishes the housing policy is be contributor of the faov or mandatory savings fund, so that those people who require buy their main home, or to perform expansion, remodeling or self-construction, have access to credit for housing, framed within the housing policy. To do this, dependent workers must make their contributions to the faov, the which takes as its basis of quotation, the full pay that they receive. Employers are obliged to contribute to the mandatory savings fund taking into account the same contribution base. For workers, they must provide to the faov, one percent.
Employers will contribute to the mandatory savings fund two percent of the contribution base. He contributed to the faov, be held within the first five working days of each month. When a self-employed wants to make their contributions to the faov, you must perform a voluntary registration through faov online, putting the National Bank for housing and Habitat available to stakeholders a system online for the registration of all those interested. To register in the faov, the worker must access website Banavih, in the section of faov online, and register as a volunteer contributor. Faov online system prompts the following data: name date of birth certificate of identity no. RIF No.
Address email phone fixed cell occupancy level of education once registered in the faov, the worker output through faov online form of payment, which shall submit to the financial operator to make the corresponding contribution to the faov. The contribution to the faov will do so in the first five working days of each month. Once you have twelve minimum contributions to the faov, the person concerned may make credit request of housing policy with the resources of the mandatory savings fund, to obtain credit for housing or make extension, remodelling and self-construction. The faov online is an automated system which can register all those people that work on their own, such as professionals, owners of companies, craftsmen, technicians and any worker who perform their work independently, ensuring the opportunity of credit for housing the entire population that requires the mandatory for your home purchase savings fund.