Housing savings loan refers to a type of loan that requires home buyers to save money in the bank in order to obtain a bank loan. It, together with commercial housing loans and housing provident fund loans, constitutes the three major types of personal housing. financing model. The role of housing savings and loans is to help people accumulate funds for housing consumption, while also providing opportunities to improve their credit, and support low- and middle-income people to realize the dream of "home ownership." At present, the Sino-German Housing Savings Bank, which is the only domestic pilot housing savings business, has been included in the national multi-level housing policy system and has been allowed to operate nationwide, which means that more people will benefit from this policy.

The difference between housing savings loans, provident fund loans, and commercial loans

1. Compared with the other two loan methods, housing savings loans are more public welfare and have the nature of contractual savings. The loan amount is mostly determined based on the saver's housing needs and savings ability. Taking our country as an example, Sino-German Housing Savings Bank, the only professional bank in the country that operates housing savings business on a pilot basis, provides this business in Tianjin and Chongqing.

2. From the perspective of positioning, housing savings and loans are mainly targeted at people who need protection from the government, low- and middle-income people and the sandwich class of society, focusing on meeting the medium and long-term housing financial needs of residents.

3. my country’s current constant interest rate for housing savings and loans is 3.3%. The commercial housing loan interest rate for more than 5 years is 5.15%, and the provident fund loan interest rate for more than 5 years is 3.25%. In comparison, the housing savings loan interest rate is at a low level, and a constant interest rate is conducive to avoiding loans caused by market fluctuations. risk.

4. In terms of term, unlike the other two types of loans, which have a maximum term of 30 years, the minimum term of a housing savings loan is 2 years and the maximum is 16 years.

5. Housing savings loan is a loan method that deposits first and then borrows. You need to sign a contract in advance and make a deposit. You can apply for a loan only after certain conditions are met. However, as a supplement to commercial mortgages and provident funds, housing savings can be combined with commercial mortgages or provident funds for loans, which can help avoid interest rate risks.

(The above answer was published on 2016-12-12, please refer to the actual relevant current house purchase policies)

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