In addition to the housing provident fund paid by employees, the unit has to pay a certain amount for employees, and the interest rate of housing provident fund loans is lower than that of commercial loans.
The interest rate of provident fund loans is set by the People's Bank of China, which is different from the benchmark interest rate of commercial bank loans. Following the central bank's announcement of interest rate cut, on the morning of August 26th, 20 15, Beijing Housing Provident Fund Management Center issued a notice of interest rate cut: starting from 26th, the deposit and loan interest rate of Beijing Housing Provident Fund will be lowered.
The interest rate of provident fund loans for five years and below is lowered from 3% to 2.75%; The interest rate for loans over five years was lowered from 3.5% to 3.25%. This is the fourth time that the provident fund has cut interest rates since 20 15. According to calculation, after the interest rate of provident fund loans is lowered, the monthly payment of1100,000 20-year loans can be reduced 1.28 yuan, and the total interest during the 20-year loan period can be reduced by 30,633 yuan.
Extended data:
Housing provident fund related loan conditions:
1. Only employees who participate in the housing provident fund system are eligible to apply for housing provident fund loans. Employees who have not participated in the housing provident fund system cannot apply for housing provident fund loans.
2. If you participate in the housing provident fund system, you must also meet the following conditions to apply for a housing provident fund personal housing loan: that is, you must pay the housing provident fund continuously for not less than 6 months before applying for the loan. Because, if the employee's behavior of paying housing provident fund is abnormal and intermittent, it means that his income is unstable and he is prone to risks after issuing loans.
3. If one of the husband and wife has applied for a housing provident fund loan, both husband and wife shall not obtain a housing provident fund loan again before paying off the principal and interest of the loan. Because the housing provident fund loan is a kind of "housing security" financial support to meet the basic housing needs of workers' families.