According to Shanghai’s housing provident fund loan policy, borrowers can apply for early repayment of the principal and interest of their housing provident fund personal loans after one year has passed since the date of disbursement of the housing provident fund loan. So what should be done specifically? What information is required for early repayment of provident fund?

Procedure for early repayment of provident fund loans in Shanghai

Organization: Shanghai housing provident fund loan lending bank outlets

Processing matters: early repayment of provident fund loans

Conditions for early repayment:

1. The provident fund deposit employee has already applied for a Shanghai provident fund loan;

2 , one year from the date of disbursement of the housing provident fund loan;

3. The amount of each repayment should not be less than the principal and interest amount of the housing provident fund loan for 6 months.

Documents required for early loan repayment:

1. ID card;

2. Latest repayment voucher;

3 , Loan repayment card discount;

4. Other required information.

Early loan repayment process: The borrower can bring the above information to the lending bank to go through the early loan repayment procedures.

Warm reminder:

1. Borrowers who apply for early repayment of the entire housing provident fund loan balance are not subject to loan time restrictions.

2. Borrowers do not have to pay liquidated damages for early repayment of housing provident fund loans.

Provide Fund Loan Consultation Zone

1. I used a provident fund loan to purchase a house in January 2013. Now I have some extra money. Can I apply for early repayment? Is it a good deal?

Reply: According to the Shanghai Housing Provident Fund Loan Policy, borrowers can apply for early repayment of the principal and interest of a housing provident fund personal loan one year from the date of disbursement of the housing provident fund loan, so you can apply for early repayment. Now the provident fund loan interest rate is much lower than the commercial loan interest rate, so if you have other needs, you can temporarily not repay it in advance, but you can apply for early repayment just by placing it in the bank.

2. I plan to apply for provident fund loan repayment in advance, but I don’t know how to do it? How to do it? What information is required?

Reply: Applicants can bring their ID card, latest repayment voucher, and loan repayment card discount to the lending bank to handle early repayment procedures. The premise is that they must meet the conditions for early repayment. Please contact us for details. 021-12329.

3. How long does it take to apply for early repayment of provident fund loans in Shanghai? Do I need to pay penalty for early repayment of loan?

Reply: The processing period for early repayment of housing provident fund loans in Shanghai does not exceed 3 working days, and no penalty is required for early repayment of housing provident fund loans.

(The above answer was published on 2015-06-24, please refer to the actual current relevant home purchase policies)

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