1. Conditions for monthly repayment of provident fund: the account has enough balance for one year.

2. Monthly repayment of provident fund: the bank starts to transfer money on 15 every month.

In fact, the operation process of monthly payment is very simple. As long as the citizens who buy a house by loan keep the balance of 1 year in the provident fund account, for example, the monthly deposit is 1 1,000 yuan, and the account balance reaches 1 2,000 yuan, they can go to the bank where they buy a house and mortgage, and sign the entrustment agreement.

If the monthly repayment amount of a citizen's provident fund is 800 yuan and the monthly contribution amount of the provident fund is 900 yuan, then the loan principal and interest of the provident fund will just be repaid, and the surplus will remain in the provident fund account; If the monthly deposit is only in 700 yuan, the insufficient 100 yuan will be paid to the repayment account monthly.

Monthly repayment materials of provident fund

1. Original and photocopy of the applicant's ID card.

2. The original and photocopy of the loan contract.

3. Original repayment deduction account (card or passbook).

4. Application Form for Monthly Withdrawal of Housing Provident Fund Repayment in Local City: Download it online or collect it from the loan bank, fill it in and affix the official seal of the unit.

5. House purchase contract or real estate license: copy it at the loan bank and confirm it with the seal of the loan bank.

In addition to the above materials, the applicant should also provide materials according to the following different situations:

1. If the applicant is the borrower's spouse, provide the original and photocopy of the husband-wife relationship certificate (marriage certificate or household registration book);

2. If the housing loan and the housing provident fund deposit are not in the same bank, the applicant shall provide the inquiry form of individual housing provident fund account (printed and stamped in the bank where the unit housing provident fund deposit is made).

3. If the agent entrusts others to act as an agent, the agent shall provide the original and photocopy of the notarized power of attorney.

What does it mean to repay the provident fund loan month by month?

The main difference between monthly repayment and annual repayment is that it is suitable for different groups of people.

1. Monthly repayment can be made with the monthly provident fund, but the balance of the monthly provident fund 12 times must be kept in the employee provident fund account, and the repayment plan remains unchanged and the interest to be repaid has not decreased during the whole repayment period. Therefore, monthly payment is more suitable for employees who want to reduce the pressure of monthly payment, such as young employees who have just joined the work and feel the pressure of monthly payment.

2. Repaying the loan year by year compensates the loan principal, reduces the interest expense of future loans, and speeds up the repayment. Therefore, repaying loans year by year is more suitable for employees who want to reduce loan interest expenses. For example, employees with relatively stable income feel less pressure to repay loans.

3. If only from the perspective of saving money, it is more economical to withdraw and repay the loan year by year. Because, the provident fund extracted by monthly repayment of loans will repay the principal and interest of loans every month, and the remaining unpaid principal will continue to calculate interest; Withdrawing the loan year by year is to return part of the loan principal in advance. According to the principle of "interest is repaid with the principal", the interest of this part of the principal returned in advance is not repaid, which reduces the expenditure of loan interest.