For example, if the provident fund can borrow 30w, do you need to repay the principal and interest to 30w when the business is transferred to the public? Do you still need to pay back the principal of 30w? Is that right? For example, the provident fund can borrow 300 thousand. Commercial loans are converted into provident fund loans to return the principal to 300 thousand, not the principal and interest to 300 thousand.

Do I need to pay off the commercial loan before borrowing the provident fund?

You need to pay off the original commercial loan before you can use the provident fund loan. Take Xining as an example: The Interim Provisions on Transferring Commercial Housing Loans to Housing Provident Fund Loans clearly stipulates that the process of transferring commercial loans to provident fund loans is as follows:

1. Print the detailed list of mortgage repayment and consult in the business hall of provident fund management center;

2. The applicant applies to the mortgage bank for prepayment;

3. The applicant pays off all bank mortgage loans by self-financing;

4. The applicant holds his ID card to the real estate and land management department of Xining City, and goes through the cancellation registration formalities of mortgage real estate and land ownership certificate;

5. The applicant shall submit the information required for the loan to the entrusted bank, and the applicant may choose the entrusted bank independently;

6. The entrusted bank shall submit it to the provident fund management center for examination and approval after preliminary examination;

7. After approval, the entrusted bank shall sign a loan contract and relevant procedures with the applicant according to the examination and approval opinions of the Center;

8. The entrusted bank handles the mortgage procedures of real estate and land;

9. Issue loans and transfer funds to the borrower's account. Article 3 above clearly points out that bank loans must be repaid with self-raised funds first. 20 19 12 13 The Ministry of Housing and Urban-Rural Development and other four departments jointly issued a notice on the purchase of houses by provident fund-a notice on safeguarding the rights and interests of housing provident fund paid to employees' housing loans, and made it clear once again that real estate developers shall not obstruct or refuse employees to use provident fund loans to purchase houses.

1. The housing provident fund center and the loan bank should shorten the time limit for examination and approval, and complete the examination and approval of employee loans within 10 working days from the date of accepting the loan application.

2. If the loan bank does not handle it, employees can report to the provident fund center. If the circumstances are serious after investigation, the provident fund center may suspend or cancel the qualification of the bank's housing provident fund business.

3 real estate agents in the sale of commercial housing, should provide a written commitment to "not refuse employees to use housing provident fund loans", and publicity in the real estate sales site.

4. Real estate agents shall not restrict or obstruct employees from using housing provident fund loans by raising the selling price or reducing discounts. If employees have objections, they should immediately complain to the provident fund center.

5. Real estate agents shall not require or require employees to sign a written document voluntarily waiving the loan right of housing provident fund, and any employee shall immediately complain to the provident fund center. How to transfer Xining commercial loan to provident fund?