The interest rate of the provident fund loan is 3.25%, and the loan is 500,000 yuan for 30 years. The interest of matching principal and interest repayment method is 283,376,5438+0.37 yuan, and that of average capital repayment method is 244,427.08 yuan.
Under the same loan term and amount (500,000 years), the interest of provident fund loans is lower than that of commercial loans124,093.75 yuan.
The difference between provident fund and commercial loan;
1, the loan amount ratio is different.
Commercial banks with high housing loans can borrow 70% of the total housing price; Depending on the nature and value of the house purchased, the housing provident fund loan can reach 80% of the total house price, but the provident fund loan has a maximum limit.
2. The loan execution interest rate is different.
The interest rate of provident fund loans is lower than the mortgage interest rate of commercial banks, which is also the reason for the lower cost. It is understood that the current annual interest rate of provident fund loans for less than five years (including five years) is 2.75%, commercial banks 1-3 years (including three years) is 4.35%, and 3-5 years (including five years) is 4.75%; The annual interest rate of housing provident fund loans for more than five years is 3.25%, while the interest rate of individual housing loans of commercial banks is as low as 4.90% in the same period.
General commercial bank loans are guaranteed by the developer's staged joint liability before the mortgage registration of the real estate license, and by the mortgagor after the mortgage registration; The guarantee method of provident fund loan is mainly joint and several liability guarantee provided by housing loan guarantee.
4. There are different regulations on the amount of a single loan.
Generally speaking, there is no high provision for a single loan in the housing loan of commercial banks; Provident fund loans cannot exceed the maximum limit. Personal basic provident fund loan is 300,000 yuan for the first time. If there is a supplementary provident fund, the amount is 6,543,800 yuan, with a maximum of 400,000 yuan. Husband and wife families are as high as 600 thousand, and both of them have as high as 800 thousand supplementary provident fund.
5, the cost is different.
Commercial bank housing loans generally require attorney fees and insurance premiums; Housing provident fund housing loans generally only need guarantee fees and real estate appraisal fees.
Legal basis: Article 26 of the Regulations on the Management of Housing Provident Fund, employees who have paid housing provident fund can apply for housing provident fund loans from the housing provident fund management center when purchasing, building, renovating or overhauling their own houses. The housing provident fund management center shall make a decision on whether to grant loans within 15 days from the date of accepting the application, and notify the applicant; Where a loan is granted, the entrusted bank shall go through the loan formalities. The risk of housing provident fund loans shall be borne by the housing provident fund management center.