Repayment method

The repayment methods of housing provident fund loans include equal principal and interest repayment and equal principal repayment, which are chosen by employees when applying for loans. The specific repayment formula is:

1, principal and interest of equal monthly repayment amount = [loan principal × monthly expected annualized interest rate ×( 1 expected annualized interest rate) repayment periods ]/[( 1 expected annualized interest rate) repayment periods-1].

2. Monthly repayment amount in average capital = loan principal/repayment period (loan principal-repaid loan principal) × monthly expected annualized interest rate.

Repayment situation

-Normal repayment

1. According to the stipulations in the Secured Loan Contract, the borrower deducts and deposits all the repayment principal and interest in the contract, and the entrusted bank deducts it monthly.

2. In case of weekends and legal holidays, the deduction date will be postponed to the next working day.

-Advance payment

1. If the borrower needs to repay the loan in advance during the loan period, he/she should apply to the entrusted bank with his/her ID card and loan guarantee contract, and the loan bank of the Economic Commission will go through the relevant formalities after examination.

2. On the day of formalities, the borrower shall deposit the prepayment deduction amount into the agreed deduction account.

3. loans overdue and the secured loan contract stipulate that prepayment cannot be made on the deduction date and the end of the month.

Pay off the loan

After the borrower pays off all the principal and interest of the loan, it needs to go through the loan settlement procedures at the entrusted bank. The provident fund center and the entrusted bank shall issue the loan settlement certificate and mortgage cancellation certificate to the borrower, and return the housing mortgage certificate and other related materials to the borrower. The borrower holds the above information to the real estate ownership registration management department to handle the cancellation procedures of real estate mortgage according to the regulations.

There are several repayment methods for housing provident fund loans in Hangzhou.

The repayment methods of housing provident fund loans include equal principal and interest repayment and equal principal repayment, which are chosen by employees when applying for loans. The specific repayment formula is:

1, principal and interest of equal monthly repayment amount = [loan principal × monthly interest rate× (1interest rate) repayment periods ]/[( 1 interest rate) repayment periods-1].

2. Average monthly repayment amount of capital = loan principal/repayment period (loan principal-repaid loan principal) × monthly interest rate.

Two kinds, equal principal and interest and average capital.

The average capital is characterized by a fixed monthly repayment principal and decreasing interest, and the repayment pressure is first large and then small during the whole repayment period; The characteristic of matching principal and interest is that the sum of principal and interest for monthly repayment is fixed, and the repayment pressure is basically the same throughout the repayment period. Therefore, the borrower can choose the appropriate repayment method according to his own economic ability.

There are only two ways: equal principal and interest and average capital.

The average capital will repay the principal bit by bit earlier, and the remaining principal will be less and less. Accordingly, the interest to be repaid every month will gradually decrease. For the borrower, this method will pay more in the early stage and the overall interest will be less accordingly.

The principal with equal principal and interest is less at the beginning, and the principal in occupation is higher than that in average capital, so the total interest is higher than that in average capital. For the borrower, this method pays less in the early stage and has more cash flow.

There is no substantial difference between equal principal and interest and average capital. Interest corresponds to repayment, which is fair.

The repayment methods of provident fund loans mainly include: matching principal and interest, and average capital.

Matching principal and interest: the sum of principal and interest is evenly distributed to each period (usually every month), and the sum of principal and interest of each period is equal (but the principal and interest of each period are variable and unequal).

Average capital: that is, the principal is evenly distributed to each period, and the principal is repaid in each period, and the interest is gradually decreasing.

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What do I need to bring to repay the provident fund loan in advance? Advance repayment process of Hangzhou provident fund

First, the provident fund needs to bring materials to repay the loan in advance.

(1) The original and photocopy of the applicant's "Resident Identity Card"

(2) Original loan contract

(3) repayment passbook

(4) Signed "Application for Early Repayment of Housing Provident Fund Loans by Housing Provident Fund Management Center" or "Application for Early Repayment of Part of Housing Provident Fund Loans by Housing Provident Fund Management Center".

Second, Hangzhou provident fund loan prepayment process

(a) the applicant to the Hangzhou housing provident fund management center entrusted loan bank housing provident fund loan acceptance window to apply for early repayment.

(2) The accepting personnel of the entrusted bank shall examine the application materials, and if the application materials are complete and conform to the form after examination, they shall be accepted. If the materials are incomplete or not in conformity with the form, the applicant shall be informed of all the materials that need to be supplemented at one time on the spot. If the materials are complete and conform to the form, they shall be accepted; Do not meet the conditions for change and legal form, will not be accepted, and inform the reasons for rejection.

(three) according to the audit situation, make a decision on approval or disapproval. To pass the examination, make a decision of approval; If the audit is unqualified, make a decision not to handle it, return the application materials, and inform the reasons for not handling it.

(4) After the deduction is successful, send a prepayment success message.