The loan interest rate calculated by multiplying the loan interest rate of housing provident fund by the ratio of the deposited funds to the amount of the loan applied for. The specific multiple may vary by region and policy. Twice as much.
Taking China as an example, according to the relevant national regulations, in terms of loan interest rate, the loan interest rate of employees' individual housing provident fund shall not be higher than the local interest rate 1. 1 times, and the minimum shall not be lower than the local people's bank interest rate. If you need to know the specific interest rate multiple, please contact the local housing provident fund management institution or the relevant bank for consultation.
2. What is the interest rate multiple of the housing provident fund loan?
Provident fund loans need to meet certain conditions before they can be used for provident fund loans, and at the same time, they need to be used for provident fund loans according to corresponding multiples, so many people don't know how to calculate the multiples of this provident fund loan, so how should the multiples of provident fund loans be calculated? Next, Bian Xiao will bring you detailed knowledge on how to calculate the loan multiples of provident fund, hoping to help you.
1. How to calculate the multiple of provident fund loans?
According to the account balance, if an employee applies for a housing provident fund loan, the loan amount shall not be higher than 10 times of the housing provident fund account balance when the employee applies for a loan (if the spouse housing provident fund is used to apply for a housing provident fund loan at the same time, it is the sum of the employee's and spouse's housing provident fund account balances), and if the housing provident fund account balance is less than 20,000, it shall be calculated as 20,000;
Second, the provident fund:
According to the regulations of the People's Bank of China, the current effective interest rate is 4.00% for loans with a term of less than five years (inclusive) and 4.50% for loans with a term of more than five years. If the loan term is within 1 year (including 1 year), the principal and interest shall be repaid in one lump sum; If the loan term exceeds 1 year, two repayment methods are adopted: equal principal and interest or equal principal repayment.
Third, how to calculate the multiple of the provident fund?
1, not exceeding 20 times of the balance: for the purchase of price-limited commercial housing or affordable housing and the first suite, the maximum amount of loanable account is 20 times; If the balance is less than 20,000 yuan, it shall be calculated as 20,000 yuan.
2. The balance shall not exceed 10 times: when the loan is used to buy a second apartment, buy public existing housing, build, renovate or overhaul self-owned housing on rural collective land, the maximum balance of the loan account is about 10 times.
4. Who knows what the interest rate of provident fund loans means?
Hello! The annual interest rate of the housing provident fund loan is 3.25%, which means that anyone who buys a house with the housing provident fund loan has to pay back 3.25% of the principal every year. The loan for joining your approved housing provident fund is RMB 6,543.8+0,000 yuan, and the annual interest payable is RMB 6,543.8+0,000 yuan x 3.25% = 3.25 yuan; If your loan term is ten years, the interest you should pay is: 1 ten thousand yuan x 3.25% x10 = 325,000 yuan. Thanks for reading!