Three repayment methods of provident fund
First, the one-time payment method. Withdraw the balance of the provident fund from the applicant's housing provident fund account and repay the loan in one lump sum. Many people will use this method to repay their mortgage after retirement. After the loan, if the loan cannot be repaid, the repayment period of the remaining loan principal will be recalculated.
Second, stop lending for a few months. Advance the balance of the fund account to repay the loan. Lenders can stop lending months in advance. The loan suspension time is determined by the loan amount, but the longest is not more than 12 months. The lender will continue to pay the monthly repayment after the repayment period ends. The stop-loss period does not charge penalty interest, nor does it include interest, and it also stops after monthly repayment. This method is suitable for people in special circumstances.
Third, the monthly repayment method. This method is very common, that is, withdraw funds from the capital account every month to repay the loan. If the account balance is insufficient, the lender needs to make up the repayment amount in time.
What should I do if the free repayment is overdue?
1. The borrower must repay the overdue personal loan on the repayment date agreed in this contract. You can inquire about the loan amount to be repaid at least on the next repayment date through the telephone entrustment system. The inquiry amount is the sum of overdue loan principal and interest, default interest and low repayment amount. If the borrower repays the money on the next repayment date, it will not be overdue.
2. If the borrower repays the overdue loan on the repayment date not agreed in the contract, the borrower shall go through the formalities at the counter of the business department with one original and one copy of the ID card. The borrower should first apply to the loan business department and then agree on the repayment date. However, it should be noted that the borrower can only go to the counter for prepayment and overdue repayment once on the repayment date not agreed in the contract, and the borrower should do it seven working days before the repayment date.
3. Under the repayment method of average capital or equal principal and interest in loans overdue, the borrower still needs to deduct the overdue loan through its designated account. In this case, there is no need to make an appointment to repay the overdue loan.
The above article introduces the repayment method of provident fund well. Let's choose a method that suits us! If you don't repay the loan within the time limit, it will have a great impact on your future life and work, especially on your personal credit! If the loan is not repaid for a long time, it may lead to the failure to pay off the loan, which will have an impact on buying a house in the future.