March 13th, 217. The Municipal Housing Provident Fund Management Committee issued the Notice on Reducing the Maximum Deposit Ratio of Enterprise Housing Provident Fund and Adjusting the Use Policy of Part of Housing Provident Fund (No.4 [217] of Private Housing Public Committee), which adjusted the use policy of housing provident fund, canceled the business of converting commercial bank loans into housing provident fund loans, and provided policy support for employees to purchase housing loans through commercial banks.
Commercial loans, also known as personal housing loans, are commercial banks and housing savings banks approved by the People's Bank of China, which provide loans for urban residents to buy ordinary houses for their own use, and are loans used to supplement the working capital of industrial and commercial enterprises.
it is usually a short-term loan, usually nine months, which is the main component of commercial bank loans, generally accounting for more than one third of the total.
provident fund loans refer to loans enjoyed by employees who have paid housing provident fund. According to the national regulations, all employees who have paid the provident fund can apply for provident fund loans according to the relevant provisions of provident fund loans.
employees who have paid the housing provident fund for a certain period according to regulations (the period varies from city to city, for example, it is more than 12 months in Changsha) can apply for provident fund loans when the funds for purchasing, building, renovating or overhauling their own houses are insufficient.
provident fund loans refer to individual housing provident fund loans, which are housing mortgage loans issued by housing provident fund management centers in various places, using the housing provident fund paid by employees who apply for provident fund loans, and entrusting commercial banks to housing provident fund depositors who purchase, build, renovate or overhaul their own houses and retired employees who paid housing provident fund during their working life. In accordance with the provisions, employees who have paid the housing provident fund for a certain period of time or more (the period varies from city to city, such as Changsha for more than 12 months) may apply for provident fund loans when the funds for the purchase, construction, renovation and overhaul of their own houses are insufficient.
The loan conditions are as follows: the employees in the unit have signed labor contracts for more than three years (or signed one-year labor contracts for three consecutive years); Normal continuous monthly housing provident fund deposit for more than a certain period of time; Not exceeding the statutory retirement age; The borrower has a stable economic income and the ability to repay the principal and interest; The borrower agrees to handle housing mortgage registration and insurance; Provide the guarantee method agreed by the local housing fund management center and its sub-centers; At the same time, submit relevant documents required by the bank, such as purchase contract or house pre-sale contract, house property certificate, land use certificate, proof of deposit of provident fund, etc.