What are the advantages of housing provident fund loans?

Answer: (1) The procedure is convenient. On the premise of bringing all the information, the borrower only needs to go to the loan bank 1 time to complete the loan application procedure.

(2) the time is short. It only takes 8 working days from acceptance to lending. It mainly includes the following links: bank audit, loan contract signing, provident fund center approval, loan issuance and so on.

(3) The interest rate is low. The current interest rate of the first home loan for more than five years is 4.5%, which is 2.05 percentage points lower than the benchmark interest rate of housing loans of commercial banks. Taking the loan of 500,000 yuan, the loan term of 30 years, and the repayment of the equal principal and interest as an example, the personal housing provident fund loan saves 230,000 yuan in interest expenses compared with the commercial bank housing loan for 30 years.

(4) Low down payment. Workers' families purchase the first set of housing (including commodity housing, price-limited commodity housing, private housing, affordable housing, etc.). ), and the construction area of the purchased house is less than 90 square meters (including 90 square meters), and the minimum down payment is 20%.

(5) Tax credit. Interest on housing provident fund loans paid by individual employees is not included in the taxable income of individual income tax of employees.

(6) Convenient repayment. The borrower can use the housing provident fund of himself and his spouse to repay the loan principal and interest on a monthly basis, or use the balance of the housing provident fund account to repay part of the loan principal and interest in advance.

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