Then the individual voluntarily pays the housing provident fund, and his purpose is actually only one. It is through this housing provident fund loan to buy a house. Because the interest rate of housing provident fund loans is only 3.25%, while the interest rate of commercial banks is as high as 4.95%, it is much lower than the interest rate of this commercial loan.
Flag Even though many people have the ability to pay off the house payment in one lump sum, because the interest rate of this housing provident fund loan is relatively low, it is said that he would rather make normal monthly repayment through this housing provident fund loan than invest his own money in this house, because he invests this money in other places, and even his annual financial return is above 5%, so it is far more than this 3.25% income. In fact, in this case, for himself,
Therefore, this is one of the main reasons why many people would rather borrow from the housing provident fund than pay off the house price in one lump sum. Of course, if you want to realize this housing provident fund loan, you must pay this housing provident fund. If your unit doesn't pay this housing provident fund, you can only pay this housing provident fund yourself. In this case, you can also enjoy the benefits of this housing provident fund loan.
According to the "Measures", if individual voluntary depositors apply for housing provident fund loans, they shall refer to the Guangzhou housing provident fund loan policy. In other words, voluntary depositors can enjoy the provident fund housing loan policy with low interest rate.
Individual independent payment of provident fund is arbitrary, and it is easy for voluntary payers to stop paying provident fund after completing the deposit and loan procedures. How to avoid such problems. The "Measures" stipulate that individual voluntary depositors should pay the housing provident fund in full during the repayment of housing provident fund loans to ensure that the deposit account can repay the housing provident fund loans on a monthly basis. Before the loan is settled, the loan should be repaid with the balance in the deposit account. If the deposit is not paid in full, the relevant treatment measures shall be implemented with reference to the Guangzhou housing provident fund withdrawal policy.
In addition, the relevant taxes and fees involved in the voluntary deposit of housing provident fund by individuals shall be implemented in accordance with the provisions of relevant tax laws, regulations and normative documents. According to the current regulations, the housing provident fund actually paid according to the specified base and proportion is allowed to be deducted from the personal taxable income.
Guangzhou Housing Provident Fund Management Center said that the promulgation and implementation of the Measures has achieved full coverage of the housing provident fund system in Guangzhou. The voluntary deposit policy is more convenient and flexible than the current housing provident fund deposit and use model. First, voluntary deposits. Voluntary depositors can apply for online remittance deduction on a monthly basis after opening a deposit account in their own name, which is convenient and quick.
Second, there are various extraction methods. Voluntary depositors can withdraw the conditions of rent purchase or semi-annual account (direct online application). Third, loan sharing is convenient for repayment. Depositors who voluntarily register in this city 1 year (not registered in this city for 2 years) can apply for housing provident fund loans when buying houses in this city. After obtaining the housing provident fund loan, the loan will be automatically deducted from the personal deposit account on a monthly basis.
The content of this article comes from: A Complete Collection of Financial Laws and Regulations in People's Republic of China (PRC): including relevant policies, China Law Publishing House.