If you apply for the monthly payment of provident fund, and the amount of provident fund paid each month is greater than or equal to the amount you repay the loan each month, then you can't repay the loan every month. If it is washed within the year, it needs to be returned every month.
Give priority to repaying the principal of the provident fund loan in the current year, and the principal of the commercial loan can only be repaid after the provident fund loan is settled. Annual mortgage can be applied once a year, which is equivalent to partial prepayment once a year. It is more suitable for customers with large balance in provident fund account and low cash pressure, and more principal can be paid off at one time, which can effectively reduce the interest on future repayment. The monthly payment can be made on any working day, which is suitable for customers with high cash pressure during the prepayment period and can effectively reduce the prepayment pressure.
Comparatively speaking, the total loan interest generated by "annual mortgage" is less than that generated by "monthly mortgage", but the specific choice depends on the actual situation.
Repayment with provident fund means repayment of housing loans with the balance of the borrower's provident fund, including commercial loans and portfolio loans. To repay the loan, three conditions need to be met: (1) purchase the owner-occupied housing with all property rights in this city (ordinary housing with 70-year property rights cannot be used for commercial housing with 50-year property rights); (2) The principal lender and spouse have no other provident fund loan debts and repayment business; (3) Banks that handle loan business have loan repayment business.
If it is necessary to change the repayment method of the provident fund, the application can only be made after the original repayment agreement of the provident fund has been implemented for one year. When the borrower applies for changing the loan repayment business of housing provident fund, all the original customers should bring the loan contract, ID card, household registration book and the original power of attorney for repayment of provident fund to the loan bank to apply for change.
To sum up, professional affairs still need professional guidance, which is more in line with their original intention and purpose. If my answer is helpful to you, I hope you can give me a compliment.