Now most office workers have provident fund accounts, which is still very useful. When employees buy a house, if they meet the requirements, they can apply for provident fund loans, so that the money in the provident fund account can be taken out and used, and the interest rate of provident fund loans is lower than that of commercial loans, which can save a lot of interest costs. Then, what is the interest rate of provident fund loans to buy a house? Let's see what I said.
1. What's the interest rate for housing with provident fund loans?
Provident fund loans refer to loans enjoyed by employees who pay housing provident fund. According to national regulations, all employees who have paid housing provident fund can apply for individual housing provident fund loans according to the relevant provisions of provident fund loans. The interest rate of provident fund loans for more than five years is 3.25%, the monthly interest rate is 3.25%/ 12, and the interest rate of provident fund loans for less than five years is 2.75% annualized, which is consistent throughout the country.
Second, what is the process of provident fund loans?
1. Lenders applying for housing provident fund loans need to submit a written application to the bank, fill in the housing provident fund loan application form and truthfully provide the required information;
2. For the loan application with complete information, the bank will accept the examination in time and submit it to Shanghai Provident Fund Center in time; Shanghai Provident Fund Center is responsible for approving loans and informing banks of the approval results in a timely manner;
3. The bank shall notify the applicant to handle the loan formalities according to the examination and approval results of the provident fund center. The borrower and his wife sign a loan contract and related contracts or agreements with the bank, and send the loan contract and other procedures to the provident fund center for review. After the approval of the provident fund center, the entrusted funds will be allocated, and the entrusted bank will issue loans in full and on time according to the loan contract.
4. If the house is mortgaged, the borrower shall go through the mortgage registration formalities at the real estate management department where the house is located. If the mortgage contract or agreement is signed by both husband and wife and pledged by securities, the borrower shall hand over the securities to the management department or the joint center for safekeeping.
3. What are the conditions for applying for provident fund loans?
1. Only employees who participate in the housing provident fund system are eligible to apply for housing provident fund loans. Employees who have not participated in the housing provident fund system cannot apply for housing provident fund loans.
2. Persons participating in the housing provident fund system must also meet the following conditions before they can apply for housing provident fund personal housing loans: that is, the time for continuous deposit of housing provident fund before applying for loans is not less than six months. Because, if the employee's behavior of paying housing provident fund is abnormal and intermittent, it indicates that his income is unstable and he is prone to risks after issuing loans.
3. If one spouse has applied for a housing provident fund loan, neither spouse may apply for a housing provident fund loan again before paying off the principal and interest of the loan. Because the housing provident fund loan is a kind of "housing security" financial support to meet the basic housing needs of workers' families.
To sum up, China's provident fund loan policy is frequent. At present, the latest interest rate of housing with provident fund loans is divided into two grades, with the interest rate of 3.25% for more than five years and 2.75% for less than five years. This interest rate level is already very low. Property buyers applying for provident fund loans must meet certain conditions, mainly including continuous payment for more than half a year and holding a local account or residence permit.