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Why is the monthly repayment of Wuxi provident fund loan only deducted from the bank card for two consecutive months? Not deducting the provident fund?
Give you a detailed introduction, year by year and month by month.

"Monthly repayment" refers to the monthly withdrawal of the housing provident fund from the individual housing provident fund account and its transfer to the personal bank account provided by the entrusted bank for housing provident fund loan, which is used to offset the principal and interest of the housing provident fund loan returned by the borrower last month (excluding early repayment). Previously, Wuxi Provident Fund could only repay the loan year by year. After the implementation of the "Measures", the dual-track system of repayment year by year and repayment month by month will be implemented.

The person in charge of Wuxi Provident Fund Management Center said that during the entrustment period, customers who repay loans on a monthly basis must keep 12 times of the monthly deposit of housing provident fund in the last month before signing the entrustment agreement (hereinafter referred to as the reserved balance) in their housing provident fund accounts. The monthly repayment amount is greater than the retained balance and does not exceed the principal and interest of the housing provident fund loan returned by the borrower last month.

Not including commercial loans for the time being.

The relevant person in charge of Wuxi Provident Fund Management Center, Wuxi previously implemented the year-by-year repayment method, and this time increased the monthly repayment method. The two repayment methods are suitable for different people. You can use the monthly provident fund to make monthly payments, but during the whole repayment period, the repayment plan remains unchanged and the interest to be repaid has not decreased. Therefore, monthly payment is more suitable for employees who want to reduce the pressure of monthly payment. It is the principal of the loan that is repaid year by year, which reduces the interest expense of future loans and speeds up the repayment. Therefore, it is more suitable for employees who want to reduce loan interest expenses.

In view of the fact that the monthly repayment method is still a new thing in Wuxi, the Measures clarify that during the whole repayment period, citizens can also choose to change the repayment method by transfer. In other words, if citizens change the original annual repayment mode to monthly repayment, they will feel bad in the future and have another chance to change.