Now that house prices are getting higher and higher, most families will choose loans to buy a house. There are two kinds of loans: commercial loans and provident fund loans. Provident fund is the housing savings paid by employees and employers clearly stipulated by the state, and most property buyers will choose provident fund loans. So does the provident fund loan need interest? How to calculate? Let's learn related knowledge together.

1. Does the provident fund loan need interest?

Provident fund loans, like commercial loans, all contain interest. The benchmark interest rate for individual housing provident fund loans is 2.75% for five years and below, and 3.25% for five years and above. However, the interest rate of provident fund loans was adjusted and released by the People's Bank of China, depending on the situation at that time.

Second, how to repay the provident fund loan

There are two methods, namely, equal principal and interest repayment method and average capital repayment method. According to experts from Qijia. Com, you can choose different repayment methods according to your own situation, and the interest you need to pay back every month is different.

1, repayment method of equal principal and interest:

Monthly loan amount = [loan principal × monthly interest rate ×( 1+ monthly interest rate )× repayment months ]=[( 1+ monthly interest rate )× repayment months]

Monthly interest payable = loan principal × monthly interest rate ×[( 1+ monthly interest rate) repayment months -( 1+ monthly interest rate) (repayment month serial number-1)] ÷ [(1+monthly interest rate) repayment months -650.

Monthly repayment principal = loan principal × monthly interest rate ×( 1+ monthly interest rate) ÷ (repayment month serial number-1)÷[( 1+ monthly interest rate) repayment months-1]

Total interest = repayment months × monthly repayment amount-loan principal

2, the average capital repayment method:

Monthly payment = (loan principal ÷ repayment months)+(loan principal-accumulated repaid principal) × monthly interest rate.

Monthly repayable principal = loan principal ÷ repayment months

Monthly interest payable = residual principal × monthly interest rate = (loan principal-accumulated principal repayment) × monthly interest rate

Monthly decreasing amount = monthly repayable principal × monthly interest rate = loan principal ÷ repayment months × monthly interest rate.

Total interest = repayment months × (total loan × monthly interest rate-monthly interest rate × (total loan ÷ repayment months) * (repayment months-1)÷2+ total loan ÷ repayment months)

Monthly interest rate = annual interest rate ÷12154 =15×15.

Conclusion: The relevant knowledge about provident fund loans is introduced here for everyone, hoping to help everyone.