According to official website who inquired about Shanghai Provident Fund Management Center, the annual repayment amount of Shanghai Provident Fund loans will be deducted in April or September every year.

Provident fund year still means that the loan bank withdraws the balance from the borrower's provident fund account once a year to repay the provident fund loan principal in one lump sum, and recalculates the monthly repayment amount according to the remaining loan principal and repayment period after repayment.

The repayment methods in Shanghai include the following:

1. One-time repayment method: On April 20th and September 20th of each year, the borrower offsets the loan principal with the balance in his provident fund account.

2. Monthly repayment method. The borrower repays the loan through the provident fund, and withdraws the balance of the provident fund deposit account on the repayment date every month to offset the monthly repayment amount of commercial loans, provident fund loans or pure provident fund loans.

3. There is no time limit for the acceptance of loan repayment. After acceptance, the borrower can enter the adjacent provident fund for repayment.

4. Bank of China will stop the prepayment operation of borrowers with repayment business from the repayment start date to the repayment end date, so as to avoid the situation that the repayment withdrawal amount is greater than the actual repayment amount.

Legal basis:

Article 6 of the Regulations on the Management of Housing Provident Fund

The deposit and loan interest rate of housing provident fund is proposed by the People's Bank of China. After soliciting the opinions of the construction administrative department of the State Council, it is reported to the State Council for approval.