Calculation of paying off mortgage interest in advance with provident fund loan: loan interest is calculated on a daily basis in the down payment month and the last month of provident fund loan repayment, and the rest is calculated on a monthly basis. The calculation formula of monthly interest is as follows: loan interest = remaining loan principal of the current month * monthly loan interest rate.
With regard to the calculation of prepayment interest, prepayment interest refers to the accrued interest of the prepayment loan principal from the interest settlement date of last month to the prepayment date. After repaying the loan in advance, the monthly loan interest will be calculated according to the monthly loan interest rate of the remaining loan principal without calculating the interest. According to the calculation formula of the monthly repayment amount of provident fund loans, the deduction principle of provident fund loans is completely consistent with that of bank consumption loans. Provident fund loans bear interest on a monthly basis, and the interest deducted each month is the interest generated by the loans of the current month.
Of course, local policies are different, so it is necessary to consult local provident fund management departments and banks.
The biggest difference between buying a house with provident fund loans and buying a house with commercial loans is that provident fund loans are used to buy a house and repay the loan in advance, and the residual interest is not paid. As a bank, we don't want to repay the loan in advance, so when signing a commercial loan agreement with the bank, please be sure to see the repayment requirements of Chu Bank.
Extended data
Early repayment means that the borrower applies to the bank to repay part of his loan in advance, and guarantees that the loan will be repaid in the current month without being overdue last month; Pay off all or part of the loan in one lump sum according to the date stipulated by the bank.
Prepayment is generally divided into two ways: partial prepayment and full prepayment.
The requirements for repaying the loan in advance are as follows:
First, the borrower must repay the principal and interest of the loan regularly for six months before he can propose to repay part or all of the loan in advance for the first time.
Second, for serious loan management, lending institutions have set a minimum amount for early repayment of some loans, which generally needs more than 6.5438+0 million yuan.
3. Generally, the borrower needs to notify the lending institution 18 days or 15 days in advance to repay the loan in advance, and must submit a written application to the lending institution with the original loan contract, bank loan repayment savings card, monthly statement of fund repayment, my ID card and other materials, which will be approved by the lender.
Fourth, the borrower still needs to repay the original monthly loan principal and interest repayment amount in the current month, and at the same time deposit the loan amount to be repaid in advance into the bank savings card.
Baidu Encyclopedia's Requirements for Early Repayment of Loans