1. interest rate of provident fund loans: according to the regulations of the People's Bank of China, the interest rate of provident fund loans is lower than that of commercial loans. Usually, the interest rate of provident fund loans is around 4.5%.
2. Loan term: The loan term you mentioned is 30 years, which is a long time. A longer term means that you will pay more interest.
3. Calculation method of interest: Generally speaking, interest is calculated according to the loan principal and interest rate. The monthly repayment includes principal and interest. With the gradual repayment of the loan, the outstanding principal decreases, so the interest paid every month will gradually decrease.
Summary:
Loan 1 10,000 provident fund will generate a lot of interest after 30 years, depending on the loan interest rate and loan term. In order to reduce interest expenses, we can consider repaying the loan in advance or shortening the loan period.
Extended data:
Provident fund loans usually have some restrictions, such as the maximum loan amount and the borrower's job stability. In addition, it is necessary to meet the application conditions for provident fund loans and provide relevant documents and materials. For more detailed information, please consult your local provident fund management center or bank.