What is the difference between the provincial provident fund and the municipal provident fund?

1 Different targets: Provincial provident fund centers generally target employees of enterprises and institutions or provincial-level agencies in the province. The municipal provident fund is generally targeted at employees of ordinary enterprises such as private enterprises and other social groups in urban areas.

2. Different application scopes: Provincial provident funds can be used throughout the province and have a wide range of applications. The municipal provident fund can only be used within the city, and its application scope is narrow.

3 The repayment methods of portfolio loans are different: If you use a portfolio loan to buy a house, if you apply for a provincial provident fund loan, you can repay the commercial loan part first and then the provident fund loan part. Those who use municipal provident fund loans need to repay them at the same time according to a certain proportion.

4. The conditions for use are different: in some provinces, the provincial and municipal provident fund loans are the same for the first home, but for the second home, the provincial provident fund is based on the house, and the down payment of the provident fund is used for the second home. 50%. The municipal provident fund is based on the number of times the provident fund is used. If the provident fund is not used for the first house, the provident fund loan for the second house is calculated based on the first house, that is, the down payment is 30%.

The difference between the Hunan Provincial Provident Fund and the Municipal Provident Fund:

For example, there is no difference in the loan ratio between the Hunan Provincial Provident Fund and the Municipal Provident Fund, but the conditions for loan application are different. The provincial provident fund needs to be paid continuously for more than 6 months, and the Changsha provident fund needs to be paid continuously for more than 12 months;

There are also differences in the calculation methods of the loanable limit. Provincial provident fund loan limit = (monthly deposit amount? 12? future payment period + personal account balance)? 2. The amount of provident fund loans in Changsha = the balance of provident fund deposits? 13 times.

Note: If a provident fund loan is used, the developer only supports the municipal provident fund. Because the provincial provident fund and the municipal provident fund are not connected to the Internet, you need to transfer your provident fund from the provincial provident fund to the municipal provident fund account. There is currently a provident fund transfer platform for other places. If you need to transfer provident fund, you can go directly to the provident fund center and fill in the authorization form. It usually takes 5-10 working days to arrive in the account, which is convenient and fast.

Generally speaking, there is not much difference between the provincial provident fund and the municipal provident fund. We cannot say which one is better, because the two most important functions are the same, which is to help you solve your housing problem.