Usually, the more the balance of the provident fund account, the higher the amount of provident fund loans that customers can apply for.
The calculation formula is: the amount of provident fund loan = [(total monthly salary of the borrower+monthly contribution of the housing provident fund of the borrower's unit) × repayment ability coefficient (40%)- total monthly repayment of the borrower's existing loan ]× loan period (month).
In addition, many regions stipulate that the amount of provident fund loans is a multiple of the account balance.
For example, the loanable amount of housing provident fund in Chongqing is 25 times the balance of the provident fund account, Xi is 15 times, and Shenzhen is 14 times (please consult the local housing provident fund management center for details).
Of course, there is a ceiling for housing provident fund loans in every place, and even if there is more balance in the provident fund account, it can't break through the ceiling.
For example, individuals in Shanghai participate in provident fund loans, with a maximum of 600,000 for the first suite and 500,000 for the second suite; Two or more participants, the highest in the first suite is1200,000, and the highest in the second suite is100,000.
Provident fund loans refer to loans enjoyed by employees who pay housing provident fund. According to national regulations, all employees who have paid housing provident fund can apply for individual housing provident fund loans according to the relevant provisions of provident fund loans.
Provident fund loan refers to individual housing provident fund loan, which is a mortgage loan that is paid by local housing provident fund management centers using the housing provident fund paid by employees who apply for provident fund loans, and entrusted by commercial banks to the housing provident fund depositors who purchase, build, renovate or overhaul their own houses and retired employees who pay the housing provident fund during their employment. According to the regulations, employees who have paid the housing provident fund for a certain period of time or more (the period varies from city to city, such as Changsha exceeding 12 months) can apply for provident fund loans when the funds for purchasing, building, renovating or overhauling their own houses are insufficient.
The loan conditions are: employees in the unit have signed labor contracts for more than three years (or signed 1 year labor contracts for three consecutive years); Normal continuous monthly housing provident fund deposit exceeds a certain period; Not exceeding the statutory retirement age; The borrower has a stable economic income and the ability to repay the principal and interest; The borrower agrees to handle the mortgage registration and insurance; Provide the guarantee method agreed by the local housing provident fund management center and its sub-centers; At the same time, submit relevant documents required by the bank, such as house purchase contract or house pre-sale contract, house property certificate, land use certificate, and deposit certificate of provident fund.
Letter of credit clause
1. Only employees who participate in the housing provident fund system are eligible to apply for housing provident fund loans. Employees who have not participated in the housing provident fund system cannot apply for housing provident fund loans.
2. Persons participating in the housing provident fund system must also meet the following conditions before they can apply for housing provident fund personal housing loans: that is, the time for continuous deposit of housing provident fund before applying for loans is not less than six months. Because, if the employee's behavior of paying housing provident fund is abnormal and intermittent, it shows that his income is unstable and he is prone to risks after issuing loans.
3. If one spouse has applied for a housing provident fund loan, neither spouse may apply for a housing provident fund loan again before paying off the principal and interest of the loan. Because the housing provident fund loan is a kind of "housing security" financial support to meet the basic housing needs of workers' families.
4. When applying for a housing provident fund loan, the loan applicant must have a relatively stable economic income and the ability to repay the loan, and there are no other outstanding debts that may affect the repayment ability of the housing provident fund loan. When employees have other debts, it is very risky to give housing provident fund loans, which violates the principle of safe operation of housing provident fund.
5. The term of the provident fund loan shall not exceed 30 years. For portfolio loans, the loan terms of provident fund loans and commercial housing loans must be the same.