The housing provident fund paid by individuals and units shall bear interest from the date of deposit in the individual housing provident fund account. The housing provident fund stored in that year bears interest according to the interest rate of current savings deposits. The principal and interest of the housing provident fund carried forward from the previous year shall be calculated at the interest rate of lump-sum deposit and lump-sum withdrawal for three months, and the interest shall be settled on June 30th every year.
The deposit interest rate of housing provident fund shall be set by the People's Bank of China. The housing accumulation fund paid in the interest settlement year (from July 1 last year to June 30 this year) bears interest according to the deposit interest rate stipulated by the People's Bank of China, that is, the annual interest rate is 0.72%. The principal and interest of the housing provident fund carried forward from the previous year shall be calculated according to the three-month lump-sum interest rate of the People's Bank of China, that is, the annual interest rate is 1.7 1%. After the interest is settled on June 30th every year, the interest of the housing provident fund is transferred to the principal of the housing provident fund, and the interest obtained is merged into the principal interest, and no interest tax is levied on the individual housing provident fund.