The annual interest rate of provident fund loans does not fluctuate with the LPR interest rate in the same period, which is generally issued by the central bank in conjunction with the China Banking Regulatory Commission.
Second, the specific analysis
If the borrower's loan term is less than 5 years, the annual interest rate of the provident fund loan is 2.75%; If the borrower's loan term is more than 5 years, the annual interest rate of the provident fund loan is 3.25%.
Generally speaking, if there are no special circumstances, the interest rate will not fluctuate too much if the borrower applies for a provident fund loan.
If the borrower's personal comprehensive qualification is not very good, it is very likely that he will not apply for a provident fund loan. Borrowers are advised to consult the staff of the provident fund housing center before applying for a loan.
Why not recommend provident fund to buy second-hand houses?
Because second-hand houses are generally older, the value of the house is not so high.
If the house does not meet the requirements, the borrower's application for provident fund loan is likely to be rejected.
In addition, the application for provident fund loans has certain interest rate concessions. If the borrower wants to buy a house, buying a new house can maximize the benefits.
If possible, property buyers can avoid some real economic disputes by buying new houses.
However, the new house also has the problem that the goods are not on the right board, and borrowers still need to be cautious.
If you have overdue records online, or have loan records from multiple platforms, your records will be subject to big data risk control. When your online lending platform often rejects you, even the flower garden will close. If there is anything unusual in your online hacking data, you can find that Beijian Quick Check can get your own big data and credit status, various index data, and you can query your personal credit status, blacklist, online loan application record, application platform type, overdue amount, whether there are arbitration cases and other important data information.
3. What is the difference between the interest rate of provident fund and the interest rate of commercial loans?
The interest rate difference between provident fund loans and commercial loans mainly depends on bank regulations. Each bank will set different loan interest rates according to local policies, local market conditions and specific conditions of the bank.
If we look at the benchmark loan interest rate set by the central bank, the annual interest rate of commercial loans is 4.35% within one year (including one year), 4.75% from one year to five years (including five years) and 4.90% for more than five years.
In provident fund loans, the annual interest rate is 2.75% within five years (including five years) and 3.25% above five years.
Comparing 3.25% with 4.90%, the difference is: 4.90%-3.25%= 1.65%.
However, it should also be noted that since 20 19, 19 10/8, the interest rates of new commercial personal housing loans have been implemented according to the LPR of the same period in the latest month, instead of the benchmark interest rate of central bank loans.
As for the latest LPR, the quotation on April 20th, 2020 is: 1 year LPR is 3.85%, and the LPR over 5 years is 4.65%.
If we compare 4.65% with 3.25% (that is, the default basis point is 0), that is the difference: 4.65%-3.25%= 1.4%.