Second, the housing provident fund loan refers to the housing mortgage loan issued by the housing provident fund management centers around the country using the housing provident fund paid by the employees of the unit to entrust commercial banks to the on-the-job employees who paid the housing provident fund and the retired employees who paid the housing provident fund during their employment. Housing accumulation fund refers to the long-term housing savings paid by state organs, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions and their employees. The housing accumulation fund paid by employees and the housing accumulation fund paid for employees by the employees' units are personal savings specially used for housing consumption expenses stored by employees in accordance with regulations, which belong to individual employees. When the employee retires, the balance of principal and interest will be paid in one lump sum and returned to the employee himself.
Three, in the past two years, more and more workers in the loan to buy a house, favored provident fund loans. The differences between provident fund loans and commercial loans are as follows:
1, the loan interest rate is different.
For applicants, the most important thing is the loan interest rate. The loan interest rate of provident fund is lower than that of commercial loans. The loan interest rate of the provident fund is 4.0% for five years and 4.5% for more than five years. The interest rate of commercial loans over five years is 6.55, and the interest rates of loans executed by different banks fluctuate above this benchmark interest rate.
2. The main body of the lending institution is different.
The main body of housing provident fund loan management is the housing provident fund management center, while the main body of commercial housing loan management is commercial banks.
3. The sources of loan funds are different.
The source of funds for commercial housing loans is the self-operated funds of commercial banks (that is, deposits absorbed by residents or units), while the source of funds for housing provident fund loans is the housing provident fund paid by individual employees and their units;