Provident fund loans refer to loans enjoyed by employees who have paid housing provident funds. According to national regulations, all employees who have paid housing provident funds can apply for provident fund loans in accordance with the relevant provisions of provident fund loans. To explain in detail, provident fund loans are provided to employees who have a local urban permanent residence, have established a housing provident fund system for more than 2 years, and have paid housing provident funds as required. If they have insufficient funds to purchase and build a house or renovate or overhaul their own housing, they can enjoy a provident fund loan. The conditions for the loan are: the total provident fund deposited by the borrower and his/her family members reaches at least 30% of the expenditure on new (overhaul) housing; the borrower has stable economic income and the ability to repay principal and interest; the borrower agrees to handle housing mortgage registration and insurance; provide a guarantee method agreed by the local housing fund management center and its branch center; and submit relevant documents required by the bank, such as house purchase contract or house pre-sale contract, house property ownership certificate, land use certificate, proof of provident fund deposit, etc.

Monthly repayment of provident fund loan

"Monthly repayment of loan" refers to withdrawing housing provident fund from the personal housing provident fund account on a monthly basis and transferring it to the deduction provided by the housing provident fund loan trustee bank. The loan repayment personal bank account is used to offset the principal and interest of the housing provident fund loan repaid by the borrower last month (excluding early repayment).

There are two repayment methods for housing provident fund personal home purchase loans: equal monthly principal and interest repayment method and equal monthly principal repayment method.

The equal monthly principal and interest repayment method means that the total amount of loan principal and interest repaid by the borrower every month remains unchanged, but the loan principal in the monthly repayment increases month by month, and the loan interest decreases month by month. repayment method.

The monthly equal principal repayment method refers to a repayment method in which the borrower's monthly principal repayment is fixed and the loan interest decreases month by month.

It should be noted that for personal provident fund loans with a term of less than one year, the principal and interest should be repaid in one lump sum upon maturity; for personal provident fund loans with a term of more than one year, the principal and interest of the loan should be repaid monthly.

Early loan repayment

Just apply to the bank one month in advance. The specific regulations or contracts signed by banks in different places may be slightly different. For example, some banks need to pay a certain amount of liquidated damages for early repayment of the loan, but some do not. You can carefully look at the provident fund agreement you signed with the bank. In the loan contract, what are the provisions regarding early repayment of the loan (most people may not pay much attention to this when signing the contract), and whether there is a clause that requires payment of liquidated damages for early repayment of the loan. If not, there is no need to repay the loan in advance. You may also need to If you sign a separate loan repayment contract with the bank, you can choose to shorten the loan period or reduce the monthly payment. Generally, shortening the loan period will save a little more.

Housing provident fund withdrawal and loan repayment process

In order to speed up the process for customers For business processing, to reduce customers waiting in line, please prepare relevant materials and follow the following procedures to handle the housing provident fund withdrawal and loan repayment procedures. 1. Return the number of loan periods

1. Go to the bank with the housing provident fund passbook to get the "XX City Housing Provident Fund Withdrawal (Transfer) Approval Form" and the "Housing Provident Fund Withdrawal Voucher", fill them out according to regulations and then withdraw them. Both the person and the company must stamp it (due to the increase in interest rates, the amount will not be filled in yet, and the account to be transferred is the debit passbook or bank card number).

2. Bring the payer’s housing provident fund passbook, original and copy of ID card, and repayment and deduction passbook (or bank card) to the housing center window for approval (note: if there is a spouse’s housing provident fund withdrawal You also need to bring the original and a copy of your marriage certificate).

3. After approval by the Housing Center, bring the "Withdrawal Voucher", "Housing Provident Fund Passbook", "XX City Housing Provident Fund Withdrawal (Transfer) Approval Form", the original and a copy of your ID card to the Provident Fund The bank where the account is opened handles the withdrawal and loan repayment procedures.

2. Return the principal and pay off the loan in one go

1. Take the housing provident fund passbook to the bank where the account is opened and register the provident fund passbook, and receive the "XX City Housing Provident Fund Withdrawal (Transfer)" Approval Form" and "Housing Provident Fund Withdrawal Voucher".

2. Go to the lending bank to fill out the "Repayment Application" with the ID card of the drawee, the housing provident fund passbook, and the employee housing loan contract, and have it stamped and confirmed by the bank.

3. After filling out the "XX City Housing Provident Fund (Transfer) Approval Form" and "Withdrawal Voucher" according to the "Repayment Application Form", return it to the drawee's unit to stamp it.

4. Bring the drawee’s housing provident fund passbook, original and copy of ID card and repayment deduction passbook to the housing center window for approval (Note: If you are drawing your spouse’s housing provident fund, you must also bring your marriage certificate Original and one copy).

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5. After approval by the Housing Center, hold the "Withdrawal Voucher" and "Housing Provident Fund Passbook" ", "XX City Housing Provident Fund Withdrawal (Transfer) Approval Form", the original and a copy of your ID card, go to the bank where the provident fund account is opened to handle the withdrawal and loan repayment procedures.

Note: If you entrust someone else to handle it, you need to provide the original and copy of the identity card of the entruster and trustee.