The method of converting commercial loans into provident fund loans is as follows:
1. Apply first. The premise of application must be to return the remaining principal of commercial loans before applying for provident fund loans. At the same time, the amount of the provident fund loan applied for is not higher than 60% of the outstanding commercial loan principal and the total house price of the house purchased at the time of application. Moreover, the provident fund that has been withdrawn according to regulations when buying a house must be deducted from the loan amount.
2. The way to convert a commercial loan into a provident fund loan is: first, the lender should apply to the provident fund center (you need to remind the provident fund center which bank you borrowed from and which bank applied for the provident fund loan to repay your loan). After the approval of the provident fund center, the lender can apply for a provident fund loan to the lending bank. After the provident fund loan is issued, the loan entrusting bank can directly use the issued provident fund loan to recover the lender's commercial loan.