Legal analysis: the money from provident fund loans will be directly transferred to the seller's account after lending, and will not be given to the buyer. If you want to apply for provident fund loans, you need to meet the loan conditions: 1, and have full civil capacity; 2. There is a valid purchase contract and a down payment in accordance with the prescribed proportion; 3, loans for the purchase, construction, renovation, overhaul occupied housing; 4. Can provide a guarantee approved by the client; 5. The applicant's provident fund account has been established for more than 12 months, and the continuous deposit of provident fund has been more than 12 months.
Legal basis: Article 99 of the Insurance Law of People's Republic of China (PRC), an insurance company shall withdraw its provident fund according to law. Article 102 The insurance premium retained by an insurance company engaged in property insurance business in the current year shall not exceed four times the sum of its actual capital plus its common reserve fund. Article 103 The liability of an insurance company to each dangerous unit, that is, the maximum loss range that may be caused by an insurance accident, shall not exceed10% of the sum of actual capital plus provident fund; The excess should be reinsurance. The division of dangerous units by insurance companies shall conform to the provisions of the State Council Insurance Regulatory Authority.
Experts, whose account did the provident fund loan go to?
Personal housing provident fund loans refer to loans entrusted by local housing provident fund management centers to commercial banks to pay for housing provident fund purchase, construction, renovation and overhaul.
For details, please consult the local branch of Bank of China or the provident fund management center.
The above contents are for your reference. Please refer to the actual business regulations.
Why is the housing provident fund loan a loan rather than your own money?
Provident fund loan is a welfare policy, not a financial management project. Provident fund loan is a preferential loan that can be obtained after the provident fund is paid into the provident fund account with a certain base. It only needs a little investment to get a lot of low-interest loans, and naturally it can't get a lot of financial assistance directly.
First, provident fund loans are not their own money.
With the provident fund loan, the money you get still bears interest, and you still have to repay the loan. This will not be a form of subsidy, because everyone pays a small amount of provident fund, but you can get a large loan with a small amount of provident fund. If interest is not paid, then one party must bear the loss. The fact is that no one can afford such a huge loss.
Second, the loan source of the provident fund
Everyone will pay the provident fund after work, and according to national laws, every enterprise needs to sign labor contracts with employees to pay five insurances and one gold for employees. Most of the five insurances and one gold are borne by enterprises, and a small part is borne by employees. Therefore, users need to pay a small amount of provident fund.
Provident fund loans come from the provident fund paid by everyone. After the provident fund is turned over to the provident fund account, it is generally impossible to take it out. The money will be invested to generate interest. When you need a loan, you can apply for a loan according to your own provident fund base. The money will come from the general provident fund account and the interest generated by the investment. Provident fund is a project that everyone pays together, and it is a preferential policy for everyone to work together to buy a house.
Third, the loan advantage of provident fund.
The reason why provident fund is a preferential policy is because the interest of provident fund loans is relatively low compared with commercial loans. For the same loan term, the interest paid by the provident fund is less, and the pressure on the lender to repay the loan will be less. It is the last straw to crush people, and the provident fund loan makes everyone less stressed.
Why is the housing provident fund loan a loan rather than your own money? What is the reason?
Although there are some differences between housing provident fund loans and commercial loans, their essence is to consume in advance and finally repay the loan gradually. For example, if you buy a house with a balance of 400,000 yuan, but you only pay 30,000 yuan of provident fund, you can use this 30,000 yuan to get a loan, but you can't withdraw 400,000 yuan from the provident fund. It is more cost-effective to use provident fund loans. You can repay with the provident fund account every month, which can reduce your economic pressure. Because the provident fund is a part of the company's capital contribution, if you contribute part of it yourself, it is equivalent to the company taking the initiative to give you some money to repay the loan.
A loan means that the bank gives you a wave of money in advance, but you need to pay back a certain amount of interest, which is equivalent to paying back a little more when you borrow something from others, because you have already used it. When you apply for a loan to buy a house, you enjoy the comfort of the house in advance, and your loan has to pay a certain price, that is, repay the interest. Housing provident fund loans are the same as the above loans, but you can pay less when you pay back the money. Enterprises with housing provident fund are also large enterprises, and the work of employees is relatively stable. Banks are also willing to lend to these customers, because the enthusiasm for repayment is relatively strong, and bad debts will not be formed.
The use of housing provident fund loans is also relatively rapid. For example, if you apply today, you will get a reply in a few working days. Some companies pay employees a very high proportion of housing provident fund, which is equivalent to an extra salary, which is very good for employees. If you don't want to use the housing provident fund loan, you can also withdraw the housing provident fund once after retirement, which can be used as the down payment for buying a house.
Buying a house costs a lot of money, so we must carefully consider whether to apply for a commercial loan or a housing provident fund loan. However, if there is a provident fund, it is more cost-effective to use a provident fund loan.
Whose account did the money from the provident fund loan enter?
The money from the provident fund loan is paid to the seller or the bank. Employees who have paid the provident fund in accordance with the law may apply for the use of provident fund loans when purchasing, building, renovating or overhauling their own houses, and transfer the loans to the special account for selling houses set up by the developer in the loan bank in one lump sum or in installments, or directly to the deposit account opened by the borrower in the loan bank.
Extended data:
Provident fund loans refer to loans enjoyed by employees who pay housing provident fund. According to national regulations, all employees who have paid housing provident fund can apply for individual housing provident fund loans according to the relevant provisions of provident fund loans.
Letter of credit clause
1. Only employees who participate in the housing provident fund system are eligible to apply for housing provident fund loans, and employees who do not participate in the housing provident fund system cannot apply for housing provident fund loans.
2. To participate in the housing provident fund system, if you want to apply for a housing provident fund personal purchase loan, you must also meet the following conditions: that is, the housing provident fund has been continuously paid for at least 6 months before applying for the loan. Because, if the employee's behavior of paying housing provident fund is abnormal and intermittent, it means that his income is unstable and he is prone to risks after issuing loans.
3. One of the husband and wife has applied for a housing provident fund loan, and neither of them can get a housing provident fund loan until the principal and interest of the loan are paid off. Because the housing provident fund loan is a kind of "housing security" financial support to meet the basic housing needs of workers' families.
4. When applying for a housing provident fund loan, the loan applicant must have a relatively stable economic income and repayment ability, and there are no other outstanding debts that may affect the repayment ability of the housing provident fund loan. When employees have other debts, it is risky to lend to housing provident fund, which violates the principle of safe operation of housing provident fund.
5. The term of the provident fund loan shall not exceed 30 years. For portfolio loans, the loan conditions of provident fund loans and commercial housing loans must be the same.
Most cities have stipulated the maximum amount of a single housing provident fund loan. For example, the maximum amount of a single housing provident fund loan in Chengdu is 600,000 yuan; The maximum amount of Guangzhou housing provident fund loans is 500,000 yuan for individuals and 800,000 yuan for two or more applicants.