Differences between provident fund loans and commercial loans

The differences between provident fund loans and commercial loans are as follows:

1. Different loan scope

Provident fund loans can not be applied for other types of houses except commercial and residential houses. The types of houses with commercial loans are relatively loose. In addition to residential buildings, commercial and residential properties can also apply for commercial loans.

2. The nature of loans is different

Provident fund loans are policy loans, not for profit. Commercial loans are loans issued by commercial banks, and their loan interest rates are higher than those of provident fund loans to make profits.

3. Different loan interest rates

The interest rate of provident fund for more than five years is 3.25%, while that of commercial loans for more than five years is 4.9%.

4. The loan amount is not stopped

Every city has an upper limit on the loan amount of provident fund, but there is no clear upper limit for commercial loans.

5. Different approval times

Provident fund loans take about 4 working days, while commercial loans only take 2 working days.

6. Different groups of people are applicable

Only those who pay the provident fund can apply for provident fund loans, while commercial loans are open to the public.

What is the difference between provident fund loans and commercial loans

The differences between commercial loans and provident fund loans are as follows:

1. Loan conditions: the object of commercial loans is qualified through credit investigation; Provident fund loans must be paid by employees on the job, and they can only be processed if they are paid in full for a certain period of time.

2. House type: You can use provident fund loans for ordinary houses, but you can't use provident fund loans for commercial houses and villas; Commercial loans are not limited by the type of housing.

3. The loan process and approval authority are different.

4. The loan interest rate is different: the provident fund loan interest rate is low and the interest is low; The interest on commercial loans will be relatively high.

5. Different sources of funds.

What is the difference between provident fund loans and commercial loans

The differences between commercial loans and provident fund loans are as follows:

1. Loan conditions: the object of commercial loans is qualified through credit investigation; Provident fund loans must be paid by employees on the job, and they can only be processed if they are paid in full for a certain period of time.

2. House type: You can use provident fund loans for ordinary houses, but you can't use provident fund loans for commercial houses and villas; Commercial loans are not limited by the type of housing.

3. The loan process and approval authority are different.

4. The loan interest rate is different: the provident fund loan interest rate is low and the interest is low; The interest on commercial loans will be relatively high.

5. Different sources of funds.

What is the difference between provident fund loans and commercial loans

The difference between provident fund loans and commercial loans:

1. The interest rate of provident fund loans will be much lower if the interest rates of the two loans are different;

2. The main body of the loan is different, and the main body of the provident fund loan is smaller than that of the commercial loan;

3. The risk-takers are different. The risk of provident fund loans is borne by the housing provident fund management center, and the risk of commercial loans is borne by themselves.

Legal basis

Article 26 of the Regulations on Housing Provident Fund Management

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, within 15 days from the date of accepting the application, make a decision on granting or not granting the loan, and notify the applicant; If the 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.

Article 27

An applicant who applies for a housing provident fund loan shall provide a guarantee.

what is the difference between commercial loans and provident fund loans?

The differences between commercial loans and provident fund loans are as follows:

1. Loan conditions: the object of commercial loans is qualified through credit investigation; Provident fund loans must be paid by employees on the job, and they can only be processed if they are paid in full for a certain period of time.

2. House type: You can use provident fund loans for ordinary houses, but you can't use provident fund loans for commercial houses and villas; Commercial loans are not limited by the type of housing.

3. The loan process and approval authority are different.

4. The loan interest rate is different: the provident fund loan interest rate is low and the interest is low; The interest on commercial loans will be relatively high.

5. Different sources of funds.