Provident fund repayment can be changed once a year.
According to the loan contract signed by the loan bank and the borrower, the borrower needs to repay the loan on a monthly basis in the month after the loan is issued. "Annual repayment" is also called one-time repayment method, that is, the method of withdrawing the balance of housing provident fund at one time to repay the loan, then recalculating the monthly repayment amount and continuing to repay the loan on a monthly basis. Using one-time repayment method, customers can only withdraw housing provident fund once a year for repayment. In fact, the "year rush" method is an early repayment, which saves most of the interest on provident fund loans. At the same time, this method is more suitable for buyers with large balance in provident fund account and little pressure on cash expenditure at the initial stage of loan. The "monthly repayment method" is also called the monthly repayment method, that is, the method of directly extracting the principal and interest of the current month's housing loan from the borrower's housing provident fund account every month. With the monthly repayment method, customers can withdraw the housing provident fund every month to repay the principal and interest of the housing loan in the current month.
The borrower can repay all the loan principal and interest in advance, or part of the loan principal in advance. The Borrower chooses the specific repayment method by itself, as follows:
1. If all the loan principal and interest are repaid in advance, the lending bank will re-check the remaining loan principal and interest of the borrower according to the actual days of loan occupation;
2. Repay part of the loan principal and interest in advance, and the lending bank will recalculate the borrower's monthly repayment amount or loan term according to the remaining loan principal and interest.
legal ground
Regulations on the administration of housing provident fund
Article 16 The monthly deposit amount of employee housing provident fund shall be the average monthly salary of the employee in the previous year multiplied by the deposit ratio of employee housing provident fund.
The monthly deposit amount of housing provident fund paid by the unit for employees is the average monthly salary of employees in the previous year multiplied by the proportion of housing provident fund paid by the unit. Article 2 These Regulations shall apply to the deposit, withdrawal, use, management and supervision of housing provident fund in People's Republic of China (PRC).
The term "housing accumulation fund" as mentioned in these Regulations refers to the long-term housing savings paid by state organs, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions, private non-enterprise units and social organizations (hereinafter referred to as units) and their employees.