The annual interest rate of provident fund loans for less than five years (including five years) is 4%, the interest rate of individual housing loans for commercial banks 1-3 years (including) is 6. 15%, and the interest rate of individual housing loans for 3-5 years (including) is 6.40%. The annual interest rate of housing provident fund loans for more than 5 years is 4.5%, and the interest rate of individual housing loans of commercial banks is 6.55% in the same period. Commercial bank loans can implement floating interest rates, and housing provident fund loans can implement fixed interest rates.

Second, the loan object is different.

Commercial personal housing loans are for natural persons who have passed the credit investigation and have repayment ability. In addition to the conditions required for commercial loans, provident fund loans must also be aimed at employees who have paid the provident fund for a certain number of years.

Third, the cost of handling loans is different.

Housing provident fund loans are paid according to fixed standards (assessment, mortgage and registration fees), while housing loans of commercial banks are charged according to market standards, and assessment, mortgage, registration, notarization and insurance fees need to be paid. The cost of housing provident fund loans is much lower than that of commercial bank loans.

Fourth, the maximum amount of a single loan is different.

Commercial loans have no clear upper limit for a single loan, which is generally determined according to a certain proportion of the total price of the purchased house; Provident fund loans have strict regulations on the maximum loan amount of a single loan, but the specific regulations vary from place to place, such as 800,000 in Beijing and 300,000 in Shanghai.

Fifth, the loan subjects are different.

The main body of housing provident fund loans is the housing provident fund management center, and the main body of commercial housing loans is commercial banks.

Sixth, the sources of loan funds are different.

The source of funds for housing provident fund loans is the housing provident fund paid by individual employees and their units, and the source of funds for commercial individual housing loans is the self-operated funds of commercial banks (deposits of residents or units).

Seventh, the loan risk takers are different.

The risk of provident fund loans shall be borne by the housing provident fund management institution that determines the issuance of loans, and the risk of commercial loans shall be borne by the commercial banks that issue loans.

legal ground

Regulations on the administration of housing provident fund

Article 26

Workers who have paid housing provident fund can apply for housing provident fund loans to the housing provident fund management center when purchasing, building, renovating or overhauling their own houses.

The housing provident fund management center shall make a decision on whether to grant loans within 15 days from the date of accepting the application, and notify the applicant; Where a loan is granted, the entrusted bank shall go through the loan formalities.

The risk of housing provident fund loans shall be borne by the housing provident fund management center.

Article 27

Applicants who apply for housing provident fund loans shall provide guarantees.