The interest rate difference between provident fund and commercial loans is 6.55% and 4.5%, with a difference of 2.05%. The benchmark interest rate for commercial loans is 4.9%; And it will generally increase by10% ~ 30%; The interest rate of provident fund loans is 3.25%, which generally does not rise.
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First, the difference in interest rates between provident fund loans and commercial loans.
During the same period, the benchmark interest rate of provident fund loans was 3.25%, and the interest rate of second-hand housing loans generally rose 10%. The second suite is defined as the second suite where the number of mortgage loans is determined by the borrower's family (including the borrower, spouse and minor children), and families who have used provident fund loans or commercial loans to buy houses apply for mortgage loans again.
At present, the benchmark interest rate for commercial loans with a loan term of more than 5 years is 4.90%. Due to the policy of restricting purchases and loans, local banks have adjusted the interest rate of the first home loan to varying degrees. According to the latest data of Rong 360, the average interest rate of the first set of loans in China is 5.38%, and the interest rate generally rises by 5%-20%. Second-hand housing loan interest rates generally rose 10%-30%.
Which is more cost-effective, provident fund loan or commercial loan?
The loan interest rate is different. The loan interest rate of provident fund for more than 5 years is 3.25%, which leads to lower total interest. For commercial loans, the interest rate is 4.9%, and the total interest of loans is relatively high, and there is no discount. The combined loan interest rate is between 3.25% and 4.9%, and the total loan interest is relatively moderate. The loan amount is different, and the loan amount of provident fund is limited by the deposit period and balance of individual provident fund.
In addition, the policy also stipulates the maximum loanable amount of the provident fund; The loan amount of commercial loans is higher than the provident fund. The loan terms are different. The requirements of commercial loans are good personal credit, no bad credit record and strong repayment ability. As long as you buy a house, you can use commercial loans, whether it is an ordinary house or a commercial and residential building, a villa or an office building. The use of provident fund loans also requires good personal credit.
In addition, there is a requirement that the individual provident fund account must be paid in full within six months before the loan date. Provident fund loans are only for families who buy ordinary houses, villas and other non-ordinary houses, commercial and residential buildings and other non-housing families, and cannot be used for provident fund loans.
The difference between provident fund loans and commercial loans
What's the difference between provident fund loans and commercial loans?
1. The differences between provident fund loans and commercial loans are as follows:
(1) The loan objects are different. Provident fund loans refer to loans enjoyed by employees who pay housing provident fund. Commercial loans, also known as personal housing loans, are loans provided by commercial banks and housing savings banks approved by the People's Bank of China for urban residents to purchase ordinary housing for their own use;
(2) The loan interest rate is different. The benchmark interest rate for commercial loans over five years is 4.9%, based on the mortgage interest rate of the lending bank. The interest rate of housing provident fund loans for more than 5 years is 3.25%.
(3) The scope of application is different. Commercial loans can be used for residential and non-residential, but provident fund loans can only be used for individuals to buy houses.
2. Legal basis: Article 2 of the Regulations on the Management of Housing Provident Fund.
These Regulations shall apply to the deposit, withdrawal, use, management and supervision of housing provident fund in People's Republic of China (PRC).
The term "housing accumulation fund" as mentioned in these Regulations 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, private non-enterprise units and social organizations (hereinafter referred to as units) and their employees.
Article 6
The deposit and loan interest rate of housing provident fund is proposed by the People's Bank of China. After soliciting the opinions of the construction administrative department of the State Council, it is reported to the State Council for approval.
2. What are the requirements for applying for provident fund loans?
1, with permanent residence or other valid residence status in this city and full capacity for civil conduct;
2. Sign a legal and effective purchase contract or agreement, and pay the first purchase price according to the specified proportion;
3. Have the ability to repay the loan principal and interest on time and have a stable occupation and income;
4. You can only apply for a loan after you have paid the housing provident fund in full for 6 months.
5. Good personal credit;
6. There are no other large debts that can affect the loan repayment ability;
7. The monthly expenditure not higher than 50% of the family's monthly income is used to repay all kinds of housing loans, including the individual housing provident fund loans to be applied for, and the family's monthly income is not lower than the minimum living guarantee standard of this Municipality after deducting the monthly repayment expenditure;
8. Meet other conditions stipulated by national laws and regulations.
The difference between housing provident fund loans and commercial loans
The differences between commercial loans and provident fund loans are as follows:
1, loan conditions: the commercial loan object is qualified through credit investigation; Provident fund loans must be paid by on-the-job employees and paid in full within a certain period of time.
2. Type of house: you can use provident fund loans to buy ordinary houses, but you can't use provident fund loans to buy commercial houses and villas; Commercial loans are not limited by the type of house.
3. The loan process is different from the examination and approval institution.
4. Different loan interest rates: the loan interest rate of provident fund is low, and the interest is low; The interest on commercial loans will be higher.
5. Different sources of funds.
What's the difference between provident fund loans and commercial loans?
The main differences between commercial loans and provident fund loans are as follows:
1, the interest rates of commercial loans and provident fund loans are different, usually
In this case, the commercial loan interest rate should be the Gao Qian provident fund loan interest rate.
Rate;
2. The procedures for commercial loans and provident fund loans are different.
Property buyers need to transfer their houses when applying for commercial loans.
Before reviewing commercial loans, provident fund loans can be made at
Review the transferred loan;
3, commercial loans and provident fund loans for different purposes, commercial
Industrial loans can be used to buy self-occupied housing or for business; but
Provident fund loans can not be used to buy commercial and residential buildings, but can only be used to buy a house.
And renovation projects.
4. Commercial loans and provident fund loans are aimed at different objects and businesses.
Industrial loans are mainly for all eligible social masses.
Provident fund loans are for employees who only pay provident fund.
Use.
The introduction of housing provident fund and commercial loans ends here.