According to the interest rate table of provident fund loans of the People's Bank of China, the interest rate of provident fund loans in 2022 is 2.75% for less than five years (including five years) and 3.25% for more than five years. The interest rate of provident fund loans shall be subject to the interest rate standard published by the People's Bank of China. In case of interest rate adjustment, if the contract term is 1 year, the contract interest rate will be implemented; if the contract term exceeds 1 year, the new interest rate standard will be implemented according to the corresponding interest rate grade from the next year of interest rate adjustment.

Interest on provident fund loans

The calculation method of provident fund and commercial loan is the same, but the interest rate is different.

Matching principal and interest repayment method:

Monthly loan amount = [loan principal × monthly interest rate ×( 1+ monthly interest rate )× repayment months ]=[( 1+ monthly interest rate )× repayment months];

Monthly interest payable = loan principal × monthly interest rate ×[( 1+ monthly interest rate) repayment months -( 1+ monthly interest rate) (repayment month serial number-1)] ÷ [(1+monthly interest rate) repayment months -650.

Monthly repayable principal = loan principal × monthly interest rate ×( 1+ monthly interest rate) ÷ (repayment month serial number-1)÷[( 1+ monthly interest rate) repayment months-1];

Total interest = repayment months × monthly repayment amount-loan principal.

Average capital repayment method:

Monthly payment = (loan principal ÷ repayment months)+(loan principal-accumulated amount of repaid principal) × monthly interest rate;

Monthly repayable principal = loan principal ÷ repayment months;

Monthly interest payable = residual principal × monthly interest rate = (loan principal-accumulated principal repayment amount) × monthly interest rate;

Decreasing monthly payment = monthly payable principal × monthly interest rate = loan principal ÷ repayment months × monthly interest rate;

Total interest = repayment months × (total loan × monthly interest rate-monthly interest rate × (total loan ÷ repayment months) * (repayment months-1)÷2+ total loan ÷ repayment months);

Monthly interest rate = annual interest rate ÷12 154 =15 ×15 (the fourth power of15, that is, the product of four15).