Extended information:
1. Definition of commercial loan:
Commercial loans are loans used to supplement the working capital of industrial and commercial enterprises. Generally, they are short-term loans, usually 9 months, up to one year, but there are also a few medium-and long-term loans. Such loans are the main part of commercial bank loans, generally accounting for more than one-third of the total loans.
2. The definition of provident fund loans:
Provident fund loan refers to individual housing provident fund loan, which is a mortgage loan issued by local housing provident fund management centers to housing provident fund depositors who purchase, build, renovate and overhaul their own houses and retired employees who pay housing provident fund during their employment. According to the regulations, employees who have paid the housing provident fund for a certain number of years or more (different years in different cities, such as Changsha1February or above) can apply for provident fund loans when the funds are insufficient to purchase and build houses, renovate or overhaul their own houses.
3 provident fund loan conditions:
(1) Only employees who have participated in the housing provident fund system are eligible to apply for housing provident fund loans. Employees who have not participated in the housing provident fund system cannot apply for housing provident fund loans.
(2) Those who participate in the housing provident fund system must also meet the following conditions when applying for individual housing provident fund loans: they must continuously deposit housing provident fund for at least 6 months before applying for loans. Because, if the employee's behavior of paying housing provident fund is abnormal and intermittent, it means that his income is unstable and he is prone to risks after issuing loans.
(3) One spouse has applied for a housing provident fund loan, and neither spouse can get a housing provident fund loan until the principal and interest of the loan are paid off. Because the housing provident fund loan is a kind of "housing security" financial support to meet the basic housing needs of workers' families.
(4) When applying for housing provident fund loans, the loan applicant must have stable income and repayment ability, and there are no other outstanding debts that may affect the repayment ability of housing provident fund loans. When employees have other debts, it is risky to give housing provident fund loans, which violates the principle of safe operation of housing provident fund.
(5) The longest term of provident fund loans shall not exceed 30 years. For portfolio loans, the loan term of provident fund loans and commercial housing loans must be the same.