Difference 1: loan interest rate

The benchmark interest rate for commercial loans over five years is 5. 15%, and the interest rate for provident fund loans over five years is 3.25%.

Let's take a look at the repayment difference that everyone is most concerned about.

Difference 2: loan ratio

For the same house, if the first commercial loan can be 70%, then the first pure provident fund loan can be up to 80%.

Difference 3: loan process

Commercial loans should be reviewed before transfer, and provident fund loans should be reviewed after transfer.

Difference 4: Approval Time

Commercial loans take about 20 working days, and provident fund loans take about 40 working days. Commercial loans are faster than provident fund loans.

Difference 5: loan source

Commercial loans mainly come from public funds raised by commercial banks and other lending institutions, while provident fund housing loans are funds paid by provident fund collectors.

Difference 6: Use crowds.

Commercial mortgage loans are open to all eligible public, while provident fund loans are only open to provident fund payers.

Difference 7: Use of interest

The interest of commercial mortgage is the profit of commercial behavior and belongs to relevant investors, while the interest of provident fund is used according to the policy and can only be used for the construction of affordable housing.

Difference 8: Examination and approval authority

Commercial mortgage is mainly approved by banks, which make decisions; The provident fund mortgage needs the approval of the provident fund management center, and the decision is made by the provident fund management center, and the bank is only the executing agency.

Variance 9: Year and quota

Different cities, different banks and provident fund management centers have different regulations. Generally speaking, commercial loans can choose a longer and more flexible repayment period and a higher amount.

Difference 10: Second Suite

Commercial loans have more restrictions on the second home loan policy and higher interest rates; Provident fund loans are basically not affected by the second home loan policy, and they can also enjoy preferential interest rates.

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